3884 Ponder Drive: 3884 Ponder Dr, Edgewater MD 21037

3884 Ponder Dr, Edgewater, MD 21037

Singlefamily: 2 bedrooms , 2 bathrooms

Year built: 1961, Size: 912 SF

Investment strategy: Fix and Flip

Maximum Allowable Offer$ 102,500

Rehab Estimate$ 25,000

Project Profit$ 50,000

After Repair Value$ 200,000

Investment Summary

After Repair Value	$ 200,000
Project Profit	$ 50,000
70% Rule 70% Rule Widely accepted ratio among rehabbers used as a barometer for purchasing a rehab property: Purchase price with repair costs should not exceed 70% of ARV. 70% Rule Widely accepted ratio among rehabbers used as a barometer for purchasing a rehab property: Purchase price with repair costs should not exceed 70% of ARV.	63.75 %
Return on Investment	277.78 %
Project Term	6 months

Financial Breakdown

Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 138,000
Financing	$ 120,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 18,000

Project Cost Breakdown

Purchase Costs
Purchase Price	$ 102,500
Buying Costs	$ 1,500
Total	$ 104,000

Repair Costs
Repair Costs Lump Sum	$ 25,000
Total	$ 25,000

Holding Costs
Monthly Holding Costs	$ 900
Monthly Loan Payments (interest)	$ 600
Total Months Held	6
Total	$ 9,000

Selling Costs
Commissions (6%)	$ 12,000
Selling Costs	$ 0
Total	$ 12,000

ONLINE AUCTION: Bidding begins 1/27/2025 @ 10:00 AM. Bidding ends 1/29/2025 @ 6:30 PM. List Price is Suggested Opening Bid. Deposit: $25, 000. Located in the desirable Ponder Cove community, this single-family home offers single-level living just steps away from the water's edge. With its convenient location and potential for renovation, this property presents an excellent opportunity for those seeking a peaceful waterfront lifestyle. The property is believed to be set up with 2 bedrooms, 1 full bathroom, and 1 half bathroom. Don't miss out on this incredible opportunity to create your dream home in a prime location! Property Features: Waterfront Location: Situated in the sought-after Ponder Cove community, this home offers breathtaking water views and is located on White Marsh Creek. Spacious Lot: The property sits on a 0.26-acre level lot, providing ample outdoor space for relaxation and recreation. Detached Garage: A detached garage offers convenient parking and extra storage space. The combination of the waterfront location, renovation potential, and spacious lot presents a unique opportunity for buyers to create their dream home in a serene and picturesque setting. Nearby Attractions and Local Conveniences Edgewater offers a variety of attractions and conveniences for residents to enjoy. Here are a few highlights: Quiet Waters Park: This 340-acre park offers a wide range of recreational activities, including hiking trails, a dog park, a playground, and a visitor center with exhibits on the local ecosystem. Londontown Publik House: This popular restaurant and pub serves delicious food and drinks in a cozy atmosphere. Edgewater Farmers Market: This seasonal farmers market offers a variety of fresh produce, baked goods, and other local products. Shopping and Dining: Edgewater has a variety of shopping centers and restaurants to meet your everyday needs.

Purchase Price	$ 102,500
Address	3884 Ponder Dr , Edgewater, 21037, MD
MLS^® #	MDAA2101968
Listing Agent	Adam Shpritz
Year Built	1961
Type	Singlefamily
Size	912 SF
Bedrooms	2
Bathrooms	2

Property History

Date	Price	Event
1/14/2025	150000	Listed
1/13/2025		Listing removed
11/13/2024	380000	Listed
3/10/2016	185000	Sold
3/3/2016	204900	Listing removed
1/18/2016	204900	Price Changed
12/7/2015	229000	Price Changed
10/19/2015	249000	Price Changed
10/5/2015	204900	Listed
10/5/2015	269000	Listed

Financial Breakdown

Purchase Price	$ 102,500
Purchase Costs	$ 1,500
Repair Costs	$ 25,000
Holding Costs	$ 9,000
Total Capital Needed Total Capital Needed Includes all projects costs (except selling costs). Total Capital Needed Includes all projects costs (except selling costs).	$ 138,000
Financing	$ 120,000
Total Cash Needed Cash out of Pocket Shows rehabber's cash outlay. Cash out of Pocket Shows rehabber's cash outlay.	$ 18,000
Cash at Closing Cash at Closing This number includes down payment and loan points. Cash at Closing This number includes down payment and loan points.	$ 30,000
Cash During Flip Cash During Flip Shows the cash amount remaining to fund the Flip. Cash During Flip Shows the cash amount remaining to fund the Flip.	$ -12,000

Project Returns

Gross Rehab Profit	$ 50,000
Return on Investment	277.78 %
Annualized ROI	555.56 %
Internal Rate of Return	9.77 %

Timeline Assumptions

Rehab Period	3 months
Listing Period	3 months
Total Holding Period	6 months

Financing		% of ARV
Down Payment	$ 30,000	15.00 %
Hard Monel	$ 120,000	60.00 %

Hard Monel Financing of: Purchase price ($ 150,000)
Type	Interest-Only
Loan Amount	$ 120,000
Down payment (20%)	$ 30,000
Loan term	6 months
Interest Rate	6.00 %
Monthly Payment	$ 600.00

This charts shows the influence of leverage on Return on Investment (ROI). Purchase price is considered as the Value in the LTV ratio here. The calculation considers all buying, holding, repair and selling costs, purchase price, ARV and an interest-only loan with rate of 6.00% p.a.

Month	0	1	2	3	4	5	6
Purchase/Sale	$ -150,000						$ 200,000
Financing	$ 120,000						$ -120,000
Closing Costs	$ 1,500						$ -12,000
Holding Costs		$ -900	$ -900	$ -900	$ -900	$ -900	$ -900
Rehab Draws		$ -8,333	$ -8,333	$ -8,333
Loan Payment		$ -600	$ -600	$ -600	$ -600	$ -600	$ -600
Cash Flow	$ -31,500	$ -9,833	$ -9,833	$ -9,833	$ -1,500	$ -1,500	$ 66,500

Sale Proceeds Breakdown

After Repair Value	$ 200,000
Cost of Sale Cost of Sale This includes agent commission and costs such as marketing, home warranty, attorney charges, title/escrow fees and other. Cost of Sale This includes agent commission and costs such as marketing, home warranty, attorney charges, title/escrow fees and other.	$ 12,000
Repair Costs	$ 25,000
Holding Costs (6 months) Holding Costs This includes costs such as utilities, maintenance, insurance, HOA dues, but loan interest is not included. Holding Costs This includes costs such as utilities, maintenance, insurance, HOA dues, but loan interest is not included.	$ 5,400
Financing Costs Financing This amount sums interest paid on any loans and capital partner funds plus loan points and costs. Financing This amount sums interest paid on any loans and capital partner funds plus loan points and costs.	$ 3,600
Purchase Purchase incl. Costs Sums up the purchase price and all associated closing costs, such as title/escrow fees, attorney fees, inspections, appraisal etc. Purchase incl. Costs Sums up the purchase price and all associated closing costs, such as title/escrow fees, attorney fees, inspections, appraisal etc.	$ 104,000
Net Rehab Profit	$ 50,000

Property Report: 3884 Ponder Drive FIX & FLIP

Property Report :

3884 Ponder Drive

3884 Ponder Dr, Edgewater, MD 21037

Executive Summary

3884 Ponder Dr, Edgewater, MD 21037

Investment Summary

70% Rule

70% Rule

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Project Cost Breakdown

Property Description

Property History

Financial Analysis

Financial Breakdown

Total Capital Needed

Total Capital Needed

Cash out of Pocket

Cash out of Pocket

Cash at Closing

Cash at Closing

Cash During Flip

Cash During Flip

Project Returns

Timeline Assumptions

Financing Overview

Cash Flow Forecast

Resale Analysis

Sale Proceeds Breakdown

Cost of Sale

Cost of Sale

Holding Costs

Holding Costs

Financing

Financing

Purchase incl. Costs

Purchase incl. Costs

Photos