416 Terry Ct Unit A3 · Frederick, MD 21701

$234,900

2 bd · 2.0 ba · 860 sqft · Condo · 78 Days on market

Built 1984 $273/sqft · 18% below area Est $288k · 18% under $247/mo HOA · 13% of rent

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +8.0/30.0
• Livability +3.9/5.0
• Schools +3.4/10.0
• 1% rule +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 2BR/2BA ground-floor condo with step-free access and recent updates throughout. Features include new flooring, updated light fixtures, and a kitchen with stainless steel appliances. Bright living room with large windows opens to a separate dining area. Both bedrooms offer generous space and large closets. In-unit laundry and two assigned parking spaces included. Low-maintenance living with convenient access to major commuter routes (Rt 340, I-270, I-70, and Rt 15), shopping, and just minutes from downtown Frederick. Welcome to 416 Terry Ct!

Key facts

• $247 HOA
• 2 parking spots
• Built 1984

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $-241 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $192k (18.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (17.0% below list).
• Recommended offer: $192k (18.1% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.3% in Frederick — 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 77/100 on livability (#80 in MD, #3,041 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities C-, crime D+, cost of living D+.
• Frederick County Public Schools (other): math 27% / reading 43% proficiency, ranked #4 of 24 in MD (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 269 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,562 units permitted in Frederick County in 2024 (374 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Frederick County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 30y ago; this cycle's ask has dropped $14k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $192,346 (18.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.83% ✗
• Cap rate: 5.06%
• Cash-on-cash: -4.39%
• DSCR: 0.80
• GRM: 10.0

CMA / ARV

• ARV (median comp): $287,870
• List price: $234,900
• Delta: -18.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.82% rent growth · sell at horizon

5-year hold

• IRR: -26.4%
• Equity multiple: 0.13×
• Total profit: $-57,464
• Equity at exit: $35,024

10-year hold

• IRR: -33.9%
• Equity multiple: -0.30×
• Total profit: $-85,718
• Equity at exit: $20,310

Cash invested: $65,772 (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 21701

• Rents YoY: 0.8%
• Active inventory: 269
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$204 /mo · $2,448/yr
• Insurance: −$98
• HOA: −$247
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-241

Break-even live

Break-even rent $2,254

Max offer price $192,346

Occupancy floor —

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: $58,725
• Closing costs: $7,047
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
360 Prospect Blvd Frederick, MD	1.0–2.0	1.0–2.0	797	$1,758	$2.21	43d	1	0.22mi
349 Prospect Blvd Frederick, MD	1.0–3.0	1.0–2.0	951	$2,272	$2.39	1d	8	0.32mi
524 W South St Frederick, MD	1.0–3.0	1.0–2.0	1022	$1,825	$1.78	43d	1	0.56mi
412b W South St Unit B Frederick, MD	1.0	1.0	850	$1,450	$1.71	43d	1	0.61mi
25 Degrange St Frederick, MD	1.0	1.0	832	$1,800	$2.16	43d	1	0.72mi
5708 Trailview Ct Frederick, MD	1.0–2.0	1.0–2.0	1121	$2,192	$1.95	43d	1	0.79mi
909 Mansion Dr Frederick, MD	1.0–2.0	1.0–2.0	1008	$2,374	$2.36	1d	18	0.81mi
5809 Hobble Bush Ct Frederick, MD	1.0	1.0	576	$1,695	$2.94	24d	1	0.86mi
607 Windview Way Frederick, MD	1.0–3.0	1.0–2.0	949	$2,098	$2.21	10d	11	0.87mi
110 Ice St Unit 110 Frederick, MD	2.0	1.0	983	$1,650	$1.68	43d	1	0.89mi
30 W All Saints St Frederick, MD	1.0	1.0	840	$1,650	$1.96	15d	1	0.90mi
30 W All Saints St Frederick, MD	1.0	1.0	980	$1,550	$1.58	21d	1	0.90mi
30 W All Saints St #6 Frederick, MD	1.0	1.0	980	$1,550	$1.58	15d	1	0.91mi
5802 Rosebay Ct Unit 5877 Frederick, MD	1.0	1.0	576	$1,650	$2.86	24d	1	0.91mi
5792 Brook Hill Ln Frederick, MD	1.0	1.0	432	$1,624	$3.76	43d	4	0.94mi
5802 Rosebay Ct Frederick, MD	1.0	1.0	432	$1,695	$3.92	43d	2	0.95mi
31 W Patrick St Frederick, MD	2.0	1.5–2.0	1040	$1,648	$1.58	17d	1	1.05mi
5614 New Design Rd Frederick, MD	1.0–3.0	1.0–2.0	1022	$1,772	$1.73	43d	1	1.07mi
607 Himes Ave #104 Frederick, MD	2.0	2.0	950	$1,800	$1.89	1d	1	1.09mi
26 E Patrick St Frederick, MD	1.0	1.0	950	$1,750	$1.84	15d	1	1.10mi
106 N Market St Unit 6 Frederick, MD	1.0	1.0	700	$1,300	$1.86	43d	1	1.15mi
205 N Market St Unit 2B Frederick, MD	1.0	1.0	1035	$2,100	$2.03	18d	1	1.20mi
546 Wellington Ct Frederick, MD	3.0	1.5	1024	$2,195	$2.14	43d	1	1.20mi
494 Arwell Ct Frederick, MD	3.0	1.5	1088	$2,100	$1.93	24d	1	1.20mi
128 Water St Frederick, MD	2.0	2.0	870	$2,400	$2.76	5d	1	1.21mi
232 Dill Ave Frederick, MD	2.0	1.0	1122	$2,475	$2.21	43d	1	1.22mi
483 Arwell Ct #483 Frederick, MD	3.0	1.5	1088	$2,300	$2.11	10d	1	1.24mi
534 Lancaster Pl #534 Frederick, MD	3.0	1.5	1088	$2,150	$1.98	24d	1	1.26mi
100 Alessandra Ct Frederick, MD	1.0–3.0	1.0–2.0	932	$2,120	$2.27	1d	22	1.27mi
575 Lancaster Pl Frederick, MD	3.0	1.5	1088	$2,330	$2.14	43d	1	1.28mi
567 Lancaster Pl #567 Frederick, MD	3.0	1.5	1024	$2,300	$2.25	43d	1	1.28mi
17 E 3rd St Unit 3 Frederick, MD	1.0	1.0	750	$1,875	$2.50	43d	1	1.30mi

HOA detail condo

• Monthly dues: $247 · $2,964/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 34 events

1. 2026-06-18
   days on market $234,900 Active 78 DOM
2. 2026-06-17
   days on market $234,900 Active 77 DOM
3. 2026-06-16
   days on market $234,900 Active 76 DOM
4. 2026-06-15
   days on market $234,900 Active 75 DOM
5. 2026-06-13
   days on market $234,900 Active 73 DOM
6. 2026-06-13
   days on market $234,900 Active 72 DOM
7. 2026-06-09
   days on market $234,900 Active 69 DOM
8. 2026-06-08
   days on market $234,900 Active 68 DOM
9. 2026-06-07
   days on market $234,900 Active 67 DOM
10. 2026-06-04
    days on market $234,900 Active 64 DOM
11. 2026-06-03
    days on market $234,900 Active 63 DOM
12. 2026-06-02
    days on market $234,900 Active 62 DOM
13. 2026-06-01
    days on market $234,900 Active 61 DOM
14. 2026-05-31
    days on market $234,900 Active 60 DOM
15. 2026-05-06
    price $234,900 555-char remark

    Show marketing remark (555 chars)

    Charming 2BR/2BA ground-floor condo with step-free access and recent updates throughout. Features include new flooring, updated light fixtures, and a kitchen with stainless steel appliances. Bright living room with large windows opens to a separate dining area. Both bedrooms offer generous space and large closets. In-unit laundry and two assigned parking spaces included. Low-maintenance living with convenient access to major commuter routes (Rt 340, I-270, I-70, and Rt 15), shopping, and just minutes from downtown Frederick. Welcome to 416 Terry Ct!

16. 2026-04-02
    listed $249,000 Active 555-char remark

    Show marketing remark (555 chars)

    Charming 2BR/2BA ground-floor condo with step-free access and recent updates throughout. Features include new flooring, updated light fixtures, and a kitchen with stainless steel appliances. Bright living room with large windows opens to a separate dining area. Both bedrooms offer generous space and large closets. In-unit laundry and two assigned parking spaces included. Low-maintenance living with convenient access to major commuter routes (Rt 340, I-270, I-70, and Rt 15), shopping, and just minutes from downtown Frederick. Welcome to 416 Terry Ct!

17. 2026-03-13
    historical $249,000 555-char remark

    Show marketing remark (555 chars)

    Charming 2BR/2BA ground-floor condo with step-free access and recent updates throughout. Features include new flooring, updated light fixtures, and a kitchen with stainless steel appliances. Bright living room with large windows opens to a separate dining area. Both bedrooms offer generous space and large closets. In-unit laundry and two assigned parking spaces included. Low-maintenance living with convenient access to major commuter routes (Rt 340, I-270, I-70, and Rt 15), shopping, and just minutes from downtown Frederick. Welcome to 416 Terry Ct!

18. 2022-12-06
    historical
19. 2022-12-01
    soldstatus $205,000
20. 2022-11-22
    soldstatus $205,000 Closed 616-char remark

    Show marketing remark (616 chars)

    Single floor condo that has recently been updated with new flooring, light fixtures, and stainless steel appliances. This home features a bright and airy living room with large windows that combines with a dining room. The kitchen's appliances were recently updated with stainless steel. Both bedrooms are ample size with large closets that allow for plenty of storage. Enjoy the conveniences of in unit laundry and 2 assigned parking spaces. Located near ALL major commuter routes (RT-340,I- 270, I-70, and RT-15), shopping, and a few minutes drive from downtown Frederick. Welcome to 416 Terry Ct, .. Welcome Home!

21. 2022-10-27
    status Pending 616-char remark

    Show marketing remark (616 chars)

    Single floor condo that has recently been updated with new flooring, light fixtures, and stainless steel appliances. This home features a bright and airy living room with large windows that combines with a dining room. The kitchen's appliances were recently updated with stainless steel. Both bedrooms are ample size with large closets that allow for plenty of storage. Enjoy the conveniences of in unit laundry and 2 assigned parking spaces. Located near ALL major commuter routes (RT-340,I- 270, I-70, and RT-15), shopping, and a few minutes drive from downtown Frederick. Welcome to 416 Terry Ct, .. Welcome Home!

22. 2022-10-18
    historical Active Under Contract 616-char remark

    Show marketing remark (616 chars)

    Single floor condo that has recently been updated with new flooring, light fixtures, and stainless steel appliances. This home features a bright and airy living room with large windows that combines with a dining room. The kitchen's appliances were recently updated with stainless steel. Both bedrooms are ample size with large closets that allow for plenty of storage. Enjoy the conveniences of in unit laundry and 2 assigned parking spaces. Located near ALL major commuter routes (RT-340,I- 270, I-70, and RT-15), shopping, and a few minutes drive from downtown Frederick. Welcome to 416 Terry Ct, .. Welcome Home!

23. 2022-10-14
    listed $199,997 Active 616-char remark

    Show marketing remark (616 chars)

    Single floor condo that has recently been updated with new flooring, light fixtures, and stainless steel appliances. This home features a bright and airy living room with large windows that combines with a dining room. The kitchen's appliances were recently updated with stainless steel. Both bedrooms are ample size with large closets that allow for plenty of storage. Enjoy the conveniences of in unit laundry and 2 assigned parking spaces. Located near ALL major commuter routes (RT-340,I- 270, I-70, and RT-15), shopping, and a few minutes drive from downtown Frederick. Welcome to 416 Terry Ct, .. Welcome Home!

24. 2022-10-12
    historical $199,997 616-char remark

    Show marketing remark (616 chars)

    Single floor condo that has recently been updated with new flooring, light fixtures, and stainless steel appliances. This home features a bright and airy living room with large windows that combines with a dining room. The kitchen's appliances were recently updated with stainless steel. Both bedrooms are ample size with large closets that allow for plenty of storage. Enjoy the conveniences of in unit laundry and 2 assigned parking spaces. Located near ALL major commuter routes (RT-340,I- 270, I-70, and RT-15), shopping, and a few minutes drive from downtown Frederick. Welcome to 416 Terry Ct, .. Welcome Home!

25. 2020-02-12
    soldstatus $103,000 Closed
26. 2019-12-12
    status Pending
27. 2019-12-10
    historical
28. 2019-12-04
    status Active
29. 2019-11-26
    historical
30. 2019-11-25
    listed $100,000 Active
31. 2002-06-06
    soldstatus $68,000
32. 1997-07-13
    historical
33. 1996-07-17
    listed
34. 1985-04-03
    soldstatus $43,530

ⓘ 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: $2,448 · $204/mo
• Projected year-2 tax: $2,504 · $209/mo
• Expected delta: +$56/yr (+$5/mo · 2.3%)

ⓘ 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 6/10 Major 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 6% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,389
• − Mortgage interest: −$13,158
• − Property taxes: −$2,448
• − Insurance: −$1,174
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − HOA: −$2,964
• − Depreciation: −$6,833
• Taxable loss: −$6,931
• Est. tax savings @ 24.0%: +$1,663
• After-tax cash flow: $-1,227/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: Frederick County Public Schools
• NCES district ID: 2400330
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 43% ▼ -15.00%
• Median HH income: $84,020
• Composite: 33.54/100
• National rank: #5429
• State rank: #4 of 24 in MD

Livability — Frederick

• Score: 77/100
• State rank: #80
• US rank: #3041

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frederick, MD
• County: Frederick County · 171,753 people
• City population: 154,619
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 43,048
• Household income: $106,577
• Rent vs Own: 33.8% rent · 66.2% own
• Severe rent burden: 1440.0

Population outlook (Frederick County) Hauer SSP2

• Today (2025): 269,438 people
• By 2030: 280,160 · +4.0%
• By 2040: 298,408 · +10.8%
• By 2050: 311,062 · +15.4%
• By 2075: 342,819 · +27.2%
• By 2100: 351,361 · +30.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 12% Two or more races 9% Hispanic / Latino 8% Asian 3%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Romanian 4% Lithuanian 3% Slovak 3%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 88% English-only · Spanish 6% Other Indo-European 2% Chinese 1%

Political lean MEDSL · Frederick

• 2024 margin: Lean D (+8.8) · D 53.2% · R 44.4% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: -1.0pp · 2024: 8.8pp
• All cycles: 2024: D+8.8 2020: D+9.6 2016: R+4.0 2012: R+3.9 2008: R+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -260.35%
• Current HPI: 276.5028
• Rent YoY: ▲ 0.82%
• 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

+439.6% since first listed

20 events — show timeline

• 2026-05-06 Price Changed $234,900 BRIGHT MLS
• 2026-04-02 Listed $249,000 BRIGHT MLS
• 2026-03-13 Coming Soon $249,000 BRIGHT MLS
• 2022-12-06 Rental Removed — BRIGHTMLS
• 2022-12-01 Sold (Public Records) $205,000 Public Records
• 2022-11-22 Sold (MLS) $205,000 BRIGHT MLS
• 2022-10-27 Pending — BRIGHT MLS
• 2022-10-18 Contingent — BRIGHT MLS
• 2022-10-14 Listed $199,997 BRIGHT MLS
• 2022-10-12 Coming Soon $199,997 BRIGHT MLS
• 2020-02-12 Sold (MLS) $103,000 BRIGHT MLS
• 2019-12-12 Pending — BRIGHT MLS
• 2019-12-10 Listing Removed — BRIGHT MLS
• 2019-12-04 Relisted — BRIGHT MLS
• 2019-11-26 Listing Removed — BRIGHT MLS
• 2019-11-25 Listed $100,000 BRIGHT MLS
• 2002-06-06 Sold (Public Records) $68,000 Public Records
• 1997-07-13 Delisted — MRIS
• 1996-07-17 Listed — MRIS
• 1985-04-03 Sold (Public Records) $43,530 Public Records

Property tax history

+1.5%/yr

Latest (2025): $2,448 · +7.3% YoY. Source: county tax records.