3802 37th Pl

Brentwood, MD 20722

$589,000D+

6 bd · 1.0 ba · 1,530 sqft · Built 2025 · SingleFamily · Active · 121 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $4,053/mo
• Mortgage (P&I): −$3,089
• Tax + insurance: −$883
• HOA: −$0
• Vac / Maint / Mgmt: −$851
• Net cashflow: $-769/mo
• Annual: $-9,232/yr
• Cap rate: 4.84%
• Cash-on-cash: -5.19%
• DSCR: 0.77
• 1% rule: 0.69%
• Cash to close: $164,920

Investor read

• This is a 6-bed/1.0-bath single-family listed at $589k.
• At list price, monthly cash flow is $-769 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $453k (23.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $405k (31.2% below list).
• It's been on market 121 days — a 12% lower offer ($518k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $405k (31.2% below list) — sets the bar for 1% rule.
• In year one you build about $63k of equity ($4k loan paydown + $59k appreciation (10.0% local appreciation)).
• Location reads 83/100 on livability (#24 in MD, #899 nationally) — a professional / high-income tenant draw. Strengths: commute A+, employment A+, housing A+; Watch: cost of living D-.
• Prince George'S County Public Schools (suburban): math 8% / reading 24% proficiency, ranked #21 of 24 in MD (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Mt Rainier Elementary (math 8% / reading 17%, grade F, #538 of 860 statewide, top 64%, 328 students, 79% FRL); Hyattsville Middle (math 5% / reading 23%, grade F, #196 of 225 statewide, top 88%, 705 students, 83% FRL); Northwestern High (math 15% / reading 32%, grade F, #169 of 222 statewide, top 76%, 2,346 students, 80% FRL) — zoned schools average 81% FRL vs 53% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: flood insurance adds $56/mo.
• Market conditions: 21 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $70k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $280k; list at $589k implies a 110% gain — meaningful room to come down on a strong offer.
• By year 2, paydown + projected appreciation supports a ~$101k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• At $4,053/mo this rent would consume 53% of the median local household income ($92k/yr) (locally 191% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 121 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.