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Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
Clara Martinez & Reinaldo Martinez SEPTEMBER 9, 2021
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
What is a CMA No two homes are identical, which is why choosing a sales price or offer price for a home can be challenging. That's where the comparative market analysis, or CMA, is most useful.
What is a CMA?
The CMA is a side-by-side comparison of homes for sale and homes that have recently sold in the same neighborhood and price range. This information is further sorted by data such as type of home, number of bedrooms, number of baths, lot size, neighborhood, property condition and features, and many other factors. The purpose is to show estimated market value, based on what other buyers and sellers have determined through past sales, pending sales and homes recently put on the market.
How is the CMA created?
CMAs are generated by using property information from your real estate agent's multiple listing service (MLS). The MLS is available to licensed members only, including brokers, salespeople, and appraisers, who pay dues to gain access to the service's public and proprietary data, including tax roll information, sold transactions, and listings input by all cooperating MLS members. Listing agents generate CMAs for their sellers, and buyer's agents create them for their buyers so both sides know what current market conditions are for the homes they're interested in comparing.
How accurate are CMAs?
The CMA is a here-and-now snapshot of the market, based on the most recent data available, but it can instantly be rendered obsolete by a new listing, or a change of status in a home with the same criteria. Why? The market is constantly changing - new listings, pending sales, closed sales, price reductions, and expired listings. CMAs can vary widely, depending on the knowledge and skill of the person creating the CMA as well as the number and type of data Relds that are chosen. That means some features may not be included. As informative as the CMA is, it should only be used as a tool and should not substitute for your real estate professional's knowledge and advice.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
Map of Comparable Listings
STATUS:
MLS #
STATUS
ADDRESS
S = CLOSED
P = PENDING
BEDS
BATHS
SQFT
PRICE
7616 Old Muirkirk Rd
3
1.00
962
-
1
Subject
2
MDPG606950
S
8121 Muirkirk Rd
2
1.0/0
720
$350,000
3
MDPG590340
S
12511 Carland Pl
4
2.0/0
1,296
$380,000
4
MDPG2003110
P
8205 Joshua Ct
3
2.0/0
1,968
$410,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
Summary of Comparable Properties S
SOLD LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
8121 Muirkirk Rd
6/25/21
2
1.0/0
720
$350,000
$486
12511 Carland Pl
2/26/21
4
2.0/0
1,296
$380,000
$293
1,008
$365,000
$390
Averages
P
PENDING LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
9/3/21
3
2.0/0
1,968
$410,000
$208
1,968
$410,000
$208
8205 Joshua Ct
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Listings
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
8121 Muirkirk Rd $350,000 CLOSED
MLS #MDPG606950
Beltsville, MD 20705
2 Beds 1.0/0 Baths Year Built 1930
6/25/21
720 Sq. Ft. ($486 / sqft) Days on market: 14
Details Prop Type: Single Family Residence
Full baths: 1.0
Off-market date: 6/28/21
Taxes: $2,974
Acres: 1.84
County: PRINCE GEORGES
Lot Size: 80,150
Updated: Jul 8, 2021 5:06 AM
Subdivision: MUIRKIRK
List date: 5/21/21
List Price: $349,999
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Style: ["Ranch/Rambler"]
Orig list price: $349,999
Features Above Grade Finished Area Source: Assessor
Below Grade Finished Area Units: Square Feet
Living Area Source: Assessor
Senior Community Yn: false
Above Grade Finished Area Units: Square Feet
Construction Materials: Other
Lot Size Source: Assessor
Structure Type: Detached
Lot Size Units: Square Feet
Accessibility Features: None
Cooling: Central A/C
Tax Year: 2020
Main Level Bedrooms: 2
Appliances: Stainless Steel Appliances, Washer, Dryer, Dishwasher, Refrigerator, Oven/Range - Gas, Microwave
Cooling Fuel: Electric
Water Source: Public
Parking Features: Gravel Driveway
Zoning: RR
Basement: Other
Hot Water: Natural Gas
Below Grade Finished Area Source: Assessor
Levels: 1
Heating: Forced Air Heating Fuel: Natural Gas Available
Sewer: Public Sewer
Room Type: Living Room, Dining Room, Bedroom 2, Kitchen, Bedroom 1, Bathroom 1 Special Listing Conditions: Standard
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
6
Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
Remarks Beautifully renovated, this cute gem is nested in almost 2 acres of land with endless possibilities. The home features completely renovated kitchen with stainless steel appliances, updated bathroom, fresh paint and a large driveway. Don't miss this opportunity.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
8121 Muirkirk Rd
7616 Old Muirkirk Road, Beltsville, Maryland 20705
$350,000 CLOSED
MLS #MDPG606950
Beltsville, MD 20705
6/25/21
2 Beds 1.0/0 Baths Year Built 1930
720 Sq. Ft. ($486 / sqft) Days on market: 14
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
8
Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
12511 Carland Pl $380,000 CLOSED
MLS #MDPG590340
Laurel, MD 20708
4 Beds 2.0/0 Baths Year Built 1985
2/26/21
1,296 Sq. Ft. ($293 / sqft) Days on market: 35
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.18
Updated: Feb 26, 2021 7:03 PM
County: PRINCE GEORGES
Lot Size: 7,687
List Price: $390,000
Subdivision: MONTPELIER WEST
List date: 12/3/20
Orig list price: $390,000
Off-market date: 2/26/21
Taxes: $4,002
Basement: Full, Outside Entrance, Partially Finished, Sump Pump, Space For Rooms
Door Features: Six Panel
Style: ["Cape Cod"]
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Features Above Grade Finished Area Source: Assessor Above Grade Finished Area Units: Square Feet Accessibility Features: None Appliances: Built-In Microwave, Dishwasher, Disposal, Dryer, Exhaust Fan, Icemaker, Oven/Range Electric, Refrigerator, Stainless Steel Appliances, Washer
Below Grade Finished Area Source: Assessor Below Grade Finished Area Units: Square Feet Construction Materials: Vinyl Siding Cooling: Ceiling Fan(s), Central A/C, Heat Pump(s) Cooling Fuel: Electric
Flooring: Hardwood, Ceramic Tile, Carpet
Living Area Source: Assessor Lot Features: Backs to Trees
Heating: Heat Pump(s)
Lot Size Source: Assessor
Heating Fuel: Electric
Lot Size Units: Square Feet
Hot Water: Electric
Main Level Bedrooms: 2
Interior Features: Carpet, Crown Moldings, Entry Level Bedroom, Floor Plan - Open, Kitchen - Eat-In, Recessed Lighting, Wood Floors
Other Structures: Shed
Laundry Type: Basement Levels: 3
Parking Features: Concrete Driveway Patio And Porch Features: Deck(s), Patio(s) Property Condition: Very Good
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
Roof: Shingle Room Type: Living Room, Bedroom 2, Bedroom 3, Bedroom 4, Kitchen, Family Room, Basement, Bedroom 1, Storage Room, Utility Room, Bathroom 1, Bathroom 2
7616 Old Muirkirk Road, Beltsville, Maryland 20705
Special Listing Conditions: Standard
Total Garage And Parking Spaces: 2
Senior Community Yn: false
Water Source: Public
Sewer: Public Sewer Structure Type: Detached
Window Features: Replacement
Tax Lot: 13
Zoning: R55
Tax Year: 2020
Driveway Spaces: 2
Remarks Absolutely charming cape cod in desirable Montpelier West! 4 bedrooms, 2 full bathrooms and a large basement waiting to be completed. The open great room features hardwood Soors, crown molding and recessed lighting. The maple kitchen cabinets are complemented by the stainless steel appliances! All of the rooms are light and bright and this home is in move in condition. Entertain on the 12'x16' deck which leads to the back patio and level yard that backs to trees! HVAC system new in 2013, bathrooms remodeled in 2018, appliances new in 2015, the list goes on and on... Minutes from BW Parkway, shopping and restaurants, easy to show too!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
10
Comparative Market Analysis
12511 Carland Pl
7616 Old Muirkirk Road, Beltsville, Maryland 20705
$380,000 CLOSED
MLS #MDPG590340
Laurel, MD 20708
2/26/21
4 Beds 2.0/0 Baths Year Built 1985
1,296 Sq. Ft. ($293 / sqft) Days on market: 35
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
8205 Joshua Ct $410,000 PENDING
MLS #MDPG2003110
Laurel, MD 20708
3 Beds 2.0/0 Baths Year Built 1985
9/3/21
1,968 Sq. Ft. ($208 / sqft) Days on market: 12
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.25
Updated: Jul 23, 2021 6:43 AM
County: PRINCE GEORGES
Lot Size: 11,067
List Price: $410,000
Subdivision: MONTPELIER WEST
List date: 7/12/21
Orig list price: $410,000
Off-market date: 7/23/21
Taxes: $5,119
Above Grade Finished Area Source: Assessor
Cooling: Central A/C, Ceiling Fan(s)
Lot Size Source: Assessor
Senior Community Yn: false
Lot Size Units: Square Feet
Sewer: Public Sewer
Above Grade Finished Area Units: Square Feet
Cooling Fuel: Electric
Property Condition: Very Good
Structure Type: Detached
Accessibility Features: None
Fireplaces Total: 1
Basement: Other
Tax Year: 2020
Flooring: Hardwood, Carpet
Below Grade Finished Area Source: Assessor
Heating: Heat Pump(s)
Below Grade Finished Area Units: Square Feet
Hot Water: Electric
Room Type: Living Room, Dining Room, Bedroom 2, Bedroom 3, Bedroom 4, Kitchen, Family Room, Bedroom 1, Recreation Room, Bathroom 1, Bathroom 2, Bathroom 3
Style: ["Split Level"]
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Features
Construction Materials: Other
Fencing: Fully
Heating Fuel: Electric Levels: 3 Living Area Source: Assessor
Tax Lot: 32 Water Source: Public Zoning: R55
Special Listing Conditions: Standard, Third Party Approval
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
Remarks This is a Very Nice Split Level Home in the Montpelier West Subdivision! This property is sitting on Spacious Lot with Ample Parking for Family & Friends! Gorgeous Hardwood Flooring, Beautiful Kitchen with lots of Countertop Space for food prep and Entertaining! Step-down Family room with Ceiling Fans and Skylights! 3 Bedrooms on the upper level including the Master Bedroom with a MasterBath! The Lower Level has a Bedroom and Full Bath, Wood Burning Fireplace in the Rec Room. A Step Down Deck for Great Cookouts leading to a Huge Fenced In Backyard! Solar Panels to convey with leasing agreement. The Owner has a dog and cat on the premises, so please give 24 hour advance notice before showing. Due to COVID-19 Safety Precautions, Please limit the showing to no more than 3 people per showing and use the provided shoe covers upon entry. This is an As-Is Trustee Sale, so please submit the offers in the name of Isaac H. Marks, Sr., Esquire - Trustee.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
13
Comparative Market Analysis
8205 Joshua Ct
7616 Old Muirkirk Road, Beltsville, Maryland 20705
$410,000 PENDING
MLS #MDPG2003110
Laurel, MD 20708
9/3/21
3 Beds 2.0/0 Baths Year Built 1985
1,968 Sq. Ft. ($208 / sqft) Days on market: 12
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Analysis
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
Comparable Property Statistics S
2 Sold Listings LOWEST
$350,000
P
AVERAGE
$365,000
HIGH
$380,000
AVG PRICE / SQFT
AVG DOM
$390
24
AVG PRICE / SQFT
AVG DOM
$208
12
1 Pending Listings LOWEST
$410,000
AVERAGE
$410,000
HIGH
$410,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
Sold Property Analysis Averages
98.6%
Homes sold for an average of 98.6% of their list price.
24
Days on market
It took an average of 24 days for a home to sell.
Analysis ADDRESS
ORIG LIST PRICE
SOLD PRICE
% OF ORIG LIST PRICE
DOM
$ PER SQFT
8121 Muirkirk Rd
$349,999
$350,000
100.00%
14
$486
12511 Carland Pl
$390,000
$380,000
97.44%
35
$293
$369,999
$365,000
98.65%
24
$390
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
17
Comparative Market Analysis
7616 Old Muirkirk Road, Beltsville, Maryland 20705
The Value of Your Home In a neighborhood of similar homes, why is one worth more than another? That's the question that's teased buyers and sellers for ages, but the answer is simple. Every home is different When a home is sold, a willing seller and a willing buyer determine the value of that home with the sale price. That price then becomes a benchmark for other similar homes, but other factors come into play. The most important are:
Location The closer a home is to jobs, parks, transportation, schools, and community services, the more desirable it is.
Size Square footage impacts home value because a larger home is built using more materials, and gives the homeowner more usable space. And a larger lot size could mean more privacy than a smaller one.
Number of bedrooms and baths Additional bedrooms and bathrooms raise the value of a home compared to similar homes that do not have those rooms.
Features and >nishes Features such as outdoor kitchens and spa baths make a home more luxurious. A home Rnished with hardwood Soors and granite countertops is going to cost more than a home with carpet and laminate countertops.
Condition The closer a home is to new construction, the more it will retain its value. It's perceived as more modern, up to date, and perhaps safer. Homes that are not updated or in poor repair sell for less as purchasers' factor in the cost of updating and eventually replacing appliances and systems.
Curb appeal From the street, the home looks clean, fresh, and inviting. Fresh landscaping and Sowers won't change the size or location, but they certainly add charm. When two homes are identical in the same neighborhood, a higher price may come down to something as simple as views, paint colors, or the overall taste of the homeowner.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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