8409-UNIT 102 Greenbelt Rd Unit 8409-102 · Seabrook, MD 20770

$159,900

2 bd · 1.0 ba · 1,072 sqft · Condo public records · 113 Days on market

Built 1968 $149/sqft · 61% below area $649/mo HOA · 29% 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).

• Cash flow +14.8/30.0
• 1% rule +9.1/10.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

COMING SOON! Expected to be available for showing starting Sunday, September 21st. Discover your dream home in this beautifully updated 2-bedroom, 1-bathroom condo in the heart of Chelsea Woods Greenbelt! Freshly painted with a recent face-lift renovation, this move-in-ready unit blends modern comfort and timeless style, featuring a mix of gleaming hardwood floors, new carpeting, spacious bedrooms with generous closet space, and a bright, airy layout filled with natural light. The modernized kitchen and bathroom boast sleek finishes, making this condo perfect for first-time buyers or investors. Ideally located just minutes from the Metro, commuting is effortless with easy access to NASA, downtown and surrounding areas & all major routes. This home combines serene green spaces with nearby urban amenities, including shopping, dining, and entertainment. BONUS: Condo fee includes most utilities. Don’t miss the chance to own this stylish, move-in-ready, super clean condo in an unbeatable location!

Key facts

• Modernized kitchen
• New carpeting
• Updated condo

Tags

• UPDATED CONDO
• HARDWOOD FLOORS
• NEW CARPETING
• MODERNIZED KITCHEN
• MODERNIZED BATHROOM
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $160k.

Deal economics

• At list price, monthly cash flow is $-23 ($-280/yr) — negative.
• To cash-flow at today's rent, offer at most $156k (2.6% below list).
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 4.6% in Seabrook — 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 70/100 on livability (#162 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, commute B; Watch: health & safety C-, crime D-, amenities 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 soft (-1.7%/yr); 89 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,481 units permitted in Prince George's County in 2024 (0 in 5+ unit buildings).
• This rent runs 32% of the median local income ($84k/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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 19y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 29% of rent.
• 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.

Recommended offer $145,509 (9.0% 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 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.41% ✓
• Cap rate: 6.62%
• Cash-on-cash: 1.16%
• DSCR: 1.05
• GRM: 5.9

CMA / ARV

• ARV (median comp): $407,289
• List price: $159,900
• Delta: -60.74%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -22.7%
• Equity multiple: 0.25×
• Total profit: $-33,549
• Equity at exit: $23,842

10-year hold

• IRR: -41.1%
• Equity multiple: -0.22×
• Total profit: $-54,810
• Equity at exit: $13,825

Cash invested: $44,772 (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 20770

• Home prices YoY: -25.1%
• Rents YoY: -1.7%
• Active inventory: 89
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,258 high
• Mortgage (P&I): −$839
• Tax from tax record: −$187 /mo · $2,239/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$649
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $-23

Break-even live

Break-even rent $2,288

Max offer price $155,778

Occupancy floor 96%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8501 Greenbelt Rd Greenbelt, MD	1.0–3.0	1.0–2.0	933	$1,976	$2.12	43d	1	0.18mi
7212 Lost Spring Ct Lanham, MD	3.0	2.5	1272	$2,350	$1.85	24d	1	0.29mi
8671 Greenbelt Rd #101 Greenbelt, MD	3.0	1.0	1072	$2,099	$1.96	43d	1	0.30mi
8118 Bird Ln Greenbelt, MD	3.0	2.5	1393	$2,650	$1.90	18d	1	0.32mi
8650 Brae Brooke Dr Lanham, MD	3.0	2.5	1300	$2,600	$2.00	5d	1	0.38mi
8688 Brae Brooke Dr Lanham, MD	3.0	2.5	1408	$2,500	$1.78	43d	1	0.40mi
7768 Mandan Rd Greenbelt, MD	3.0	2.5	1320	$2,550	$1.93	19d	1	0.48mi
7913 Brooks Pl Greenbelt, MD	3.0	2.5	1374	$3,000	$2.18	24d	1	0.61mi
7716 Hanover Pkwy Apt T4 Greenbelt, MD	2.0	1.0	922	$2,000	$2.17	43d	1	0.73mi
8007 Mandan Rd Unit T2 Greenbelt, MD	3.0	2.0	1396	$2,500	$1.79	43d	1	0.73mi
8009 Mandan Rd #303 Greenbelt, MD	3.0	2.0	1420	$2,450	$1.73	43d	1	0.79mi
8011 Mandan Rd #303 Greenbelt, MD	3.0	2.0	1188	$2,495	$2.10	18d	1	0.79mi
6702 Lake Park Dr Greenbelt, MD	2.0	2.0	1274	$2,250	$1.77	43d	1	0.91mi
6934 Hanover Pkwy #402 Greenbelt, MD	1.0	1.0	1064	$1,800	$1.69	43d	1	0.96mi
6630 Lake Park Dr Unit 3B Greenbelt, MD	2.0	2.0	1244	$2,450	$1.97	12d	1	0.98mi
7232 Hanover Pkwy Greenbelt, MD	1.0–3.0	1.0–1.5	841	$2,032	$2.42	43d	1	1.04mi
6602 Lake Park Dr Unit T2 Greenbelt, MD	3.0	2.0	1270	$2,700	$2.13	24d	1	1.05mi
6520 Lake Park Dr Apt 301 Greenbelt, MD	2.0	2.0	1433	$2,450	$1.71	43d	1	1.05mi
6998 Hanover Pkwy #3 Greenbelt, MD	1.0	1.0	750	$1,650	$2.20	43d	1	1.07mi
6998 Hanover Pkwy #302 Greenbelt, MD	2.0	2.0	994	$2,175	$2.19	12d	1	1.07mi
32 Crescent Rd Greenbelt, MD	1.0	1.0	630	$1,538	$2.44	10d	4	1.09mi
9 Parkway Greenbelt, MD	1.0–2.0	1.0	812	$2,041	$2.51	3d	21	1.18mi
157 Westway Greenbelt, MD	1.0–3.0	1.0–2.0	1191	$2,107	$1.77	1d	29	1.21mi
6913 Woodstream Ln Lanham, MD	3.0	2.5	1374	$2,600	$1.89	43d	1	1.32mi
6913 Woodstream Ln Unit 6913 Lanham, MD	3.0	2.0	1374	$2,600	$1.89	43d	1	1.32mi
9971 Good Luck Rd Lanham, MD	1.0–3.0	1.0–2.0	1155	$2,032	$1.76	1d	27	1.34mi

HOA detail condo

• Monthly dues: $649 · $7,788/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-05-13
   status Pending 1020-char remark

   Show marketing remark (1020 chars)

   COMING SOON! Expected to be available for showing starting Sunday, September 21st. Discover your dream home in this beautifully updated 2-bedroom, 1-bathroom condo in the heart of Chelsea Woods Greenbelt! Freshly painted with a recent face-lift renovation, this move-in-ready unit blends modern comfort and timeless style, featuring a mix of gleaming hardwood floors, new carpeting, spacious bedrooms with generous closet space, and a bright, airy layout filled with natural light. The modernized kitchen and bathroom boast sleek finishes, making this condo perfect for first-time buyers or investors. Ideally located just minutes from the Metro, commuting is effortless with easy access to NASA, downtown and surrounding areas & all major routes. This home combines serene green spaces with nearby urban amenities, including shopping, dining, and entertainment. BONUS: Condo fee includes most utilities. Don’t miss the chance to own this stylish, move-in-ready, super clean condo in an unbeatable location!

2. 2026-03-03
   status Active 1020-char remark

   Show marketing remark (1020 chars)

   COMING SOON! Expected to be available for showing starting Sunday, September 21st. Discover your dream home in this beautifully updated 2-bedroom, 1-bathroom condo in the heart of Chelsea Woods Greenbelt! Freshly painted with a recent face-lift renovation, this move-in-ready unit blends modern comfort and timeless style, featuring a mix of gleaming hardwood floors, new carpeting, spacious bedrooms with generous closet space, and a bright, airy layout filled with natural light. The modernized kitchen and bathroom boast sleek finishes, making this condo perfect for first-time buyers or investors. Ideally located just minutes from the Metro, commuting is effortless with easy access to NASA, downtown and surrounding areas & all major routes. This home combines serene green spaces with nearby urban amenities, including shopping, dining, and entertainment. BONUS: Condo fee includes most utilities. Don’t miss the chance to own this stylish, move-in-ready, super clean condo in an unbeatable location!

3. 2025-10-13
   historical 1020-char remark

   Show marketing remark (1020 chars)

   COMING SOON! Expected to be available for showing starting Sunday, September 21st. Discover your dream home in this beautifully updated 2-bedroom, 1-bathroom condo in the heart of Chelsea Woods Greenbelt! Freshly painted with a recent face-lift renovation, this move-in-ready unit blends modern comfort and timeless style, featuring a mix of gleaming hardwood floors, new carpeting, spacious bedrooms with generous closet space, and a bright, airy layout filled with natural light. The modernized kitchen and bathroom boast sleek finishes, making this condo perfect for first-time buyers or investors. Ideally located just minutes from the Metro, commuting is effortless with easy access to NASA, downtown and surrounding areas & all major routes. This home combines serene green spaces with nearby urban amenities, including shopping, dining, and entertainment. BONUS: Condo fee includes most utilities. Don’t miss the chance to own this stylish, move-in-ready, super clean condo in an unbeatable location!

4. 2025-10-09
   historical Active Under Contract 1020-char remark

   Show marketing remark (1020 chars)

   COMING SOON! Expected to be available for showing starting Sunday, September 21st. Discover your dream home in this beautifully updated 2-bedroom, 1-bathroom condo in the heart of Chelsea Woods Greenbelt! Freshly painted with a recent face-lift renovation, this move-in-ready unit blends modern comfort and timeless style, featuring a mix of gleaming hardwood floors, new carpeting, spacious bedrooms with generous closet space, and a bright, airy layout filled with natural light. The modernized kitchen and bathroom boast sleek finishes, making this condo perfect for first-time buyers or investors. Ideally located just minutes from the Metro, commuting is effortless with easy access to NASA, downtown and surrounding areas & all major routes. This home combines serene green spaces with nearby urban amenities, including shopping, dining, and entertainment. BONUS: Condo fee includes most utilities. Don’t miss the chance to own this stylish, move-in-ready, super clean condo in an unbeatable location!

5. 2025-09-20
   listed $159,900 Active 1020-char remark

   Show marketing remark (1020 chars)

   COMING SOON! Expected to be available for showing starting Sunday, September 21st. Discover your dream home in this beautifully updated 2-bedroom, 1-bathroom condo in the heart of Chelsea Woods Greenbelt! Freshly painted with a recent face-lift renovation, this move-in-ready unit blends modern comfort and timeless style, featuring a mix of gleaming hardwood floors, new carpeting, spacious bedrooms with generous closet space, and a bright, airy layout filled with natural light. The modernized kitchen and bathroom boast sleek finishes, making this condo perfect for first-time buyers or investors. Ideally located just minutes from the Metro, commuting is effortless with easy access to NASA, downtown and surrounding areas & all major routes. This home combines serene green spaces with nearby urban amenities, including shopping, dining, and entertainment. BONUS: Condo fee includes most utilities. Don’t miss the chance to own this stylish, move-in-ready, super clean condo in an unbeatable location!

6. 2007-06-19
   soldstatus $199,500
7. 2007-05-30
   soldstatus $199,500 340-char remark

   Show marketing remark (340 chars)

   NEW PRICE DROP! Nothing to do but move in! Totally renovated 2 bedroom 1 bath condo convienetly located within walking distance of metrobus, grocery, restaurants, shopping, and near U of MD. Condo is vacant with updates galore: NEW appliances, NEW countertops, NEW flooring, NEW paint, updated bathroom, plus condo fee covers all utilities!

8. 2007-04-23
   historical 340-char remark

   Show marketing remark (340 chars)

   NEW PRICE DROP! Nothing to do but move in! Totally renovated 2 bedroom 1 bath condo convienetly located within walking distance of metrobus, grocery, restaurants, shopping, and near U of MD. Condo is vacant with updates galore: NEW appliances, NEW countertops, NEW flooring, NEW paint, updated bathroom, plus condo fee covers all utilities!

9. 2007-03-08
   listed $204,999 340-char remark

   Show marketing remark (340 chars)

   NEW PRICE DROP! Nothing to do but move in! Totally renovated 2 bedroom 1 bath condo convienetly located within walking distance of metrobus, grocery, restaurants, shopping, and near U of MD. Condo is vacant with updates galore: NEW appliances, NEW countertops, NEW flooring, NEW paint, updated bathroom, plus condo fee covers all utilities!

10. 1979-09-25
    soldstatus $28,500
11. 1973-08-29
    soldstatus $22,990

ⓘ 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: $2,239 · $187/mo
• Projected year-2 tax: $2,239 · $187/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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 17% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,097
• − Mortgage interest: −$8,957
• − Property taxes: −$2,239
• − Insurance: −$1,597
• − Repairs & maintenance: −$2,168
• − Management: −$2,168
• − HOA: −$7,788
• − Depreciation: −$4,652
• Taxable loss: −$2,471
• Est. tax savings @ 24.0%: +$593
• After-tax cash flow: $313/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 — Seabrook

• Score: 70/100
• State rank: #162
• US rank: #7350

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seabrook, MD
• County: Prince Georges County · 919,866 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 28,384
• Household income: $84,096
• Rent vs Own: 55.1% rent · 44.9% own
• Severe rent burden: 1890.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 49% White 18% Hispanic / Latino 17% Asian 8% Two or more races 7%
• Hispanic origin (detail): Mexican 2% Puerto Rican 1%
• Common ancestry: Hispanic 2% Italian 1% Lithuanian 1%
• Foreign-born: 27% · Canada, China, South Korea
• Languages at home: 69% English-only · Spanish 14% French/Haitian/Cajun 4% Chinese 3%

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: ▼ -84.02%
• Current HPI: 251.3114
• Rent YoY: ▼ -1.67%
• 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

+595.5% since first listed

11 events — show timeline

• 2026-05-13 Pending — BRIGHT MLS
• 2026-03-03 Relisted — BRIGHT MLS
• 2025-10-13 Listing Removed — BRIGHT MLS
• 2025-10-09 Contingent — BRIGHT MLS
• 2025-09-20 Listed $159,900 BRIGHT MLS
• 2007-06-19 Sold (Public Records) $199,500 Public Records
• 2007-05-30 Sold (MLS) $199,500 MRIS
• 2007-04-23 Delisted — MRIS
• 2007-03-08 Listed $204,999 MRIS
• 1979-09-25 Sold (Public Records) $28,500 Public Records
• 1973-08-29 Sold (Public Records) $22,990 Public Records

Property tax history

+3.1%/yr

Latest (2025): $2,239 · +2.1% YoY. Source: county tax records.