2428 Edwards Ln

Bel Air South, MD 21028

$374,900B-

3 bd · 2.0 ba · 1,288 sqft · Built 2007 · SingleFamily · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,500/mo
• Mortgage (P&I): −$1,966
• Tax + insurance: −$409
• HOA: −$0
• Vac / Maint / Mgmt: −$945
• Net cashflow: $1,180/mo
• Annual: $14,156/yr
• Cap rate: 10.07%
• Cash-on-cash: 13.49%
• DSCR: 1.60
• 1% rule: 1.20%
• Cash to close: $104,972

Investor read

• This is a 3-bed/2.0-bath single-family listed at $375k.
• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $375k).
• It's been on market 16 days — a 2% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $369k (1.5% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($3k loan paydown + $9k appreciation (2.4% local appreciation)).
• Location reads 82/100 on livability (#33 in MD, #1,172 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, health & safety A+; Watch: crime D, cost of living D.
• Harford County Public Schools (suburban): math 22% / reading 39% proficiency, ranked #9 of 24 in MD (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 9 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 803 units permitted in Harford County in 2024 (26 in 5+ unit buildings).
• 5 sale attempts since 23y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• At projected returns (2.4% appreciation + 3.0% rent growth), your $105k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 10.1% vs local median 4.1% in Bel Air South — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.