1831 Addison Rd S · Walker Mill, MD 20747

$100,000

3 bd · 1.5 ba · 1,156 sqft · Condo public records · 5 Days on market

Built 1965 $87/sqft · 47% below area Est $188k · 47% under $366/mo HOA · 17% of rent

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Why this score? — see what drove the B+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

MULTIPLE, NO CONTINGENCY OFFERS RECEIVED ! NEEDS RENOVATIONS. Kitchen has newer cabinets and appliances. Central AC does not work. Some residents have moved the compressor to their front porch, to gain more space in the primary bedroom's walk-in closet.

Key facts

• Newer cabinets
• Walk-in closet
• Newer appliances

Tags

• NEWER CABINETS
• NEWER APPLIANCES
• WALK-IN CLOSET

Property features AI

Finance

• Other: Pets allowed with size/weight restrictions
• HOA & community: Monthly condo fee of $366 covering lawn maintenance and trash; Association amenities include tot lots/playground

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer
• Home design: Condominium ownership; Interior townhouse / rowhouse; Building: OLD TOWN VILLAGE CONDO ASSOC.; Listed in very good condition; Year built estimated
• Construction: Brick construction; Other foundation type
• Exterior features: Community pool; Above-grade additional structures

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom (upper level); One half bathroom (main level)
• Heating & cooling: Central heating (natural gas); Central air conditioning (electric); Natural gas hot water
• Interior features: Estimated living area; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 13.0% vs local median 4.5% in Walker Mill — 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.

Location & tenants

• Location reads 63/100 on livability (#300 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, housing A+, employment A; Watch: crime D+, amenities F, cost of living F.
• 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.
• Market conditions: Rents rising (+2.0%/yr); 116 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% of the median local income ($76k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Prince George's County population projected at +18% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $25k; list at $100k implies a 304% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,000

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.16% ✓
• Cap rate: 12.98%
• Cash-on-cash: 23.88%
• DSCR: 2.06
• GRM: 3.9

CMA / ARV

• ARV (median comp): $188,290
• List price: $100,000
• Delta: -46.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.0% rent growth · sell at horizon

5-year hold

• IRR: 15.7%
• Equity multiple: 1.62×
• Total profit: $17,446
• Equity at exit: $14,910

10-year hold

• IRR: 23.5%
• Equity multiple: 2.91×
• Total profit: $53,513
• Equity at exit: $8,646

Cash invested: $28,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 20747

• Home prices YoY: -19.0%
• Rents YoY: 2.0%
• Active inventory: 116
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,158 high
• Mortgage (P&I): −$524
• Tax from tax record: −$216 /mo · $2,586/yr
• Insurance: −$42
• HOA: −$366
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $557

Break-even live

Break-even rent $1,453

Max offer price $100,000

Occupancy floor 69%

Sensitivity live

Price	-10% $614	-5% $585	+0% $557	+5% $529	+10% $501
Rent	-10% $387	-5% $472	+0% $557	+5% $642	+10% $728
Rate	-1.0pp $608	-0.5pp $583	base $557	+0.5pp $531	+1.0pp $505

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 Addison Rd S District Heights, MD	3.0	1.5	1154	$2,100	$1.82	45d	1	0.06mi
1741 Addison Rd S District Heights, MD	3.0	1.5	1300	$1,950	$1.50	19d	1	0.07mi
1925 Addison Rd S District Heights, MD	3.0	1.5	1182	$2,242	$1.90	25d	1	0.08mi
6769 Milltown Ct District Heights, MD	2.0	1.5	1100	$2,299	$2.09	12d	1	0.28mi
1341 Karen Blvd Capitol Heights, MD	2.0	2.0	950	$2,300	$2.42	45d	1	0.32mi
6957 Walker Mill Rd Capitol Heights, MD	3.0	2.5	1320	$2,650	$2.01	45d	1	0.38mi
7017 Migliori Ct District Heights, MD	3.0	2.5	1320	$2,650	$2.01	6d	1	0.38mi
6936 Walker Mill Rd Capitol Heights, MD	1.0–3.0	1.0–1.5	806	$1,700	$2.11	14d	11	0.43mi
6565 Ronald Rd Capitol Heights, MD	3.0	3.5	1350	$2,650	$1.96	45d	1	0.44mi
5806 Burgess Rd District Heights, MD	2.0	1.0	1324	$1,950	$1.47	19d	1	0.94mi
1634 Brooksquare Dr Capitol Heights, MD	3.0	1.5	1317	$2,250	$1.71	6d	1	1.10mi
2707 Judith Ave District Heights, MD	2.0	1.0	816	$2,500	$3.06	45d	1	1.11mi
2610 Lakehurst Ave District Heights, MD	3.0	1.0	1096	$2,150	$1.96	45d	1	1.12mi
2908 Walters Ln Unit 1 District Heights, MD	2.0	1.0	1100	$1,400	$1.27	25d	1	1.17mi
1209 Brooke Rd Capitol Heights, MD	3.0	2.0	1000	$3,200	$3.20	19d	1	1.19mi
6525 Kenova St District Heights, MD	2.0	1.0	1075	$1,500	$1.40	45d	1	1.27mi
2354 Seton Way District Heights, MD	2.0	2.5	1200	$2,500	$2.08	45d	1	1.32mi
1935 Brooks Dr Capitol Heights, MD	1.0–3.0	1.0–1.5	865	$1,745	$2.02	0d	7	1.32mi
5284 Marlboro Pike Capitol Heights, MD	1.0–3.0	1.0–1.5	812	$1,979	$2.44	0d	13	1.34mi
6311 Pennsylvania Ave District Heights, MD	1.0–2.0	1.0	791	$1,672	$2.11	0d	9	1.35mi
6024 Surrey Square Ln District Heights, MD	1.0–3.0	1.0–2.0	1059	$2,102	$1.98	0d	23	1.40mi
5401 Riba Ct Capitol Heights, MD	4.0	3.0	1150	$3,300	$2.87	6d	1	1.45mi
2100 Brooks Dr District Heights, MD	2.0	1.0–2.0	914	$1,629	$1.78	21d	27	1.47mi
5237 Marlboro Pike Capitol Heights, MD	3.0	1.0	655	$1,817	$2.77	45d	1	1.48mi

HOA detail condo

• Monthly dues: $366 · $4,392/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-05-12
   status Pending 254-char remark
2. 2026-05-07
   listed $100,000 Active 254-char remark
3. 1973-11-14
   soldstatus $24,750

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $2,586 · $216/mo
• Projected year-2 tax: $2,586 · $216/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 21% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,895
• − Mortgage interest: −$5,602
• − Property taxes: −$2,586
• − Insurance: −$500
• − Repairs & maintenance: −$2,072
• − Management: −$2,072
• − HOA: −$4,392
• − Depreciation: −$2,909
• Taxable income: $5,763
• Est. tax owed @ 24.0%: −$1,383
• After-tax cash flow: $5,303/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Prince George'S County Public Schools
• NCES district ID: 2400510
• Math proficiency: 8% ▼ -11.00%
• Reading proficiency: 24% ▼ -9.00%
• Median HH income: $73,967
• Composite: 16.82/100
• National rank: #9151
• State rank: #21 of 24 in MD

Livability — Walker Mill

• Score: 63/100
• State rank: #300
• US rank: #15588

Category grades

Amenities F Commute A+ Cost of living F Crime D+ Employment A Housing A+ Health & safety F User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walker Mill, MD
• County: Prince Georges County · 919,866 people
• City population: 39,439
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 38,301
• Household income: $76,298
• Rent vs Own: 49.7% rent · 50.3% own
• Severe rent burden: 2132.0

Population outlook (Prince George's County) Hauer SSP2

• Today (2025): 1,005,426 people
• By 2030: 1,048,416 · +4.3%
• By 2040: 1,123,425 · +11.7%
• By 2050: 1,183,220 · +17.7%
• By 2075: 1,306,202 · +29.9%
• By 2100: 1,408,179 · +40.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (86%)
• Race & ethnicity: Black 86% Hispanic / Latino 7% Two or more races 5% White 2%
• Foreign-born: 8% · Canada
• Languages at home: 89% English-only · Spanish 6% French/Haitian/Cajun 1%

Political lean MEDSL · Prince George's

• 2024 margin: Solid D (+75.2) · D 86.3% · R 11.2% · Other 2.5%
• 2008→2024 swing: -3.3pp toward R · 2008: 78.5pp · 2024: 75.2pp
• All cycles: 2024: D+75.2 2020: D+80.5 2016: D+81.0 2012: D+80.9 2008: D+78.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.90%
• Current HPI: 289.095
• Rent YoY: ▲ 2.00%
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+304.0% since first listed

3 events — show timeline

• 2026-05-12 Pending — BRIGHT MLS
• 2026-05-07 Listed $100,000 BRIGHT MLS
• 1973-11-14 Sold (Public Records) $24,750 Public Records

Property tax history

+7.8%/yr

Latest (2025): $2,586 · +23.9% YoY. Source: county tax records.