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Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Dora OCTOBER 4, 2021
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
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
2
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Map of Comparable Listings
STATUS:
MLS #
STATUS
ADDRESS
S = CLOSED
BEDS
BATHS
SQFT
PRICE
6311 Kennedy St
3
1.50
1,152
-
1
Subject
2
MDPG601514
S
6306 Longfellow St
3
2.0/0
1,472
$290,000
3
MDPG2006298
S
5506 59 Th Ave
3
1.0/0
1,152
$272,000
4
MDPG598380
S
5514 63 Rd Ave
3
1.0/1.0
1,152
$271,000
5
MDPG2000246
S
5304 59 Th Ave
4
2.0/0
896
$271,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
3
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Summary of Comparable Properties S
SOLD LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
5/18/21
3
2.0/0
1,472
$290,000
$197
5506 59 Th Ave
9/3/21
3
1.0/0
1,152
$272,000
$236
5514 63 Rd Ave
4/12/21
3
1.0/1.0
1,152
$271,000
$235
5304 59 Th Ave
8/19/21
4
2.0/0
896
$271,000
$302
1,168
$276,000
$243
6306 Longfellow St
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
6311 Kennedy Street, Riverdale, Maryland 20737
6306 Longfellow St $290,000 CLOSED
MLS #MDPG601514
Riverdale, MD 20737
3 Beds 2.0/0 Baths Year Built 1951
5/18/21
1,472 Sq. Ft. ($197 / sqft) Days on market: 6
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.15
Updated: Sep 13, 2021 10:15 PM
County: PRINCE GEORGES
Lot Size: 6,535
List Price: $315,000
Subdivision: TEMPLETON KNOLLS
List date: 3/30/21
Orig list price: $275,000
Off-market date: 5/21/21
Taxes: $3,760
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Units: Square Feet
Levels: 2
Sewer: Public Sewer
Above Grade Finished Area Units: Square Feet
Construction Materials: Brick, Stone
Living Area Source: Assessor
Structure Type: End of Row/ Townhouse
Lot Size Source: Assessor
Tax Lot: 10
Accessibility Features: None
Cooling: Central A/C
Lot Size Units: Square Feet
Tax Year: 2020
Basement: Other
Cooling Fuel: Natural Gas
Main Level Bedrooms: 3
Water Source: Public
Below Grade Finished Area Source: Assessor
Heating: Forced Air
Special Listing Conditions: Standard
Zoning: R35
Heating Fuel: Electric Hot Water: Natural Gas
Senior Community Yn: false
Style: ["Traditional"]
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Features
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
6
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Remarks No Description for this property.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
7
Comparative Market Analysis
6306 Longfellow St
6311 Kennedy Street, Riverdale, Maryland 20737
$290,000 CLOSED
MLS #MDPG601514
Riverdale, MD 20737
5/18/21
3 Beds 2.0/0 Baths Year Built 1951
1,472 Sq. Ft. ($197 / sqft) Days on market: 6
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
8
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
5506 59 Th Ave $272,000 CLOSED
MLS #MDPG2006298
Riverdale, MD 20737
3 Beds 1.0/0 Baths Year Built 1951
9/3/21
1,152 Sq. Ft. ($236 / sqft) Days on market: 6
Details Prop Type: Single Family Residence
Full baths: 1.0 Acres: 0.1
Updated: Sep 14, 2021 3:35 AM
County: PRINCE GEORGES
Lot Size: 4,486
List Price: $250,000
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Subdivision: TEMPLETON KNOLLS
List date: 7/30/21
Orig list price: $250,000
High: BLADENSBURG
Off-market date: 9/3/21
Taxes: $3,293
Middle: WILLIAM WIRT
Above Grade Finished Area Source: Assessor
Construction Materials: Brick
Living Area Source: Assessor
Special Listing Conditions: Standard
Above Grade Finished Area Units: Square Feet
Cooling: Central A/C
Lot Size Source: Assessor
Senior Community Yn: false
Cooling Fuel: Electric
Lot Size Units: Square Feet
Sewer: Public Sewer
Accessibility Features: None
Foundation Details: Crawl Space
Parking Features: Surface
Structure Type: Twin/SemiDetached
Style: ["Colonial"]
Elementary: TEMPLETON
Features
Appliances: Dishwasher, Disposal, Exhaust Fan, Icemaker, Oven/Range - Gas, Range Hood, Refrigerator Below Grade Finished Area Source: Assessor Below Grade Finished Area Units: Square Feet
Heating: Forced Air Heating Fuel: Natural Gas Hot Water: Electric Interior Features: Dining Area, Wood Floors, Floor Plan - Open
Property Condition: Very Good Room Type: Dining Room, Bedroom 2, Bedroom 3, Kitchen, Family Room, Bedroom 1, Sun/Florida Room, Laundry, Storage Room, Attic
Tax Lot: 22 Tax Year: 2020 Water Source: Public Year Built Effective: 2008 Zoning: R35
Levels: 2
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
9
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Remarks Cute semi-detached all brick home. Sun Rlled two levels with Florida Room, 3 bedrooms and 1 bath. Hardwood Soors on both levels. New Roof! Replaced kitchen Sooring. Updated kitchen with pass through to dining/living areas features granite counters, lots of counter and cabinet space. Stacked washer/dryer on main level. Updated bath shared by upper level bedrooms. Attic has Sooring and can be used for storage. Private fenced yard with shed. Very convenient location for commuting, near MD 201, MD 410, Baltimore/Washington Parkway. Two miles to College Park Metro Station and walking distance to future Purple Line station. Minutes from Hyattsvilles entertainment district with great restaurants. No HOA.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
10
Comparative Market Analysis
5506 59 Th Ave
6311 Kennedy Street, Riverdale, Maryland 20737
$272,000 CLOSED
MLS #MDPG2006298
Riverdale, MD 20737
9/3/21
3 Beds 1.0/0 Baths Year Built 1951
1,152 Sq. Ft. ($236 / sqft) Days on market: 6
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
11
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
5514 63 Rd Ave $271,000 CLOSED
MLS #MDPG598380
Riverdale, MD 20737
3 Beds 1.0/1.0 Baths Year Built 1951
4/12/21
1,152 Sq. Ft. ($235 / sqft) Days on market: 7
Details Prop Type: Single Family Residence
Full baths: 1.0
Off-market date: 4/14/21
Taxes: $2,704
Half baths: 1.0
County: PRINCE GEORGES
Acres: 0.08
Updated: Apr 13, 2021 8:56 PM
Subdivision: TEMPLETON KNOLLS
Lot Size: 3,509
List Price: $250,000
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
List date: 3/3/21
Orig list price: $250,000
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Units: Square Feet
Levels: 3
Above Grade Finished Area Units: Square Feet
Construction Materials: Brick
Lot Size Source: Assessor
Tax Year: 2020
Accessibility Features: None
Cooling: Central A/C
Lot Size Units: Square Feet
Virtual Tour: View
Basement: Other
Cooling Fuel: Electric Heating: Central, Forced Air
Special Listing Conditions: Standard
Water Source: Public
Below Grade Finished Area Source: Assessor
Heating Fuel: Natural Gas
Senior Community Yn: false
Hot Water: Natural Gas
Sewer: Public Sewer
Style: ["Side-by-Side"]
Features Living Area Source: Assessor
Structure Type: Twin/SemiDetached Tax Lot: 46
Zoning: R35
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
12
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Remarks ***NO MORE SHOWINGS MULTIPLE OFFERS*** You have come to the right place! This well-favored 3 bedroom 1.5 bath home will enthrall you with its updated white kitchen cabinets with plenty of storage, SS appliances and a pass-through window bar for all the dinner parties that will happen in this home. The combination dining and living area boast its new windows and original hardwood Soors. But that is not all, the fully Rnished basement has wide open space and a half bath for all the entertaining this basement can offer. Get here soon so you can see why this home is worth cherishing.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
13
Comparative Market Analysis
5514 63 Rd Ave
6311 Kennedy Street, Riverdale, Maryland 20737
$271,000 CLOSED
MLS #MDPG598380
Riverdale, MD 20737
4/12/21
3 Beds 1.0/1.0 Baths Year Built 1951
1,152 Sq. Ft. ($235 / sqft) Days on market: 7
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
14
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
5304 59 Th Ave $271,000 CLOSED
MLS #MDPG2000246
Riverdale, MD 20737
4 Beds 2.0/0 Baths Year Built 1952
8/19/21
896 Sq. Ft. ($302 / sqft) Days on market: 20
Details Prop Type: Single Family Residence
Full baths: 2.0
Off-market date: 8/23/21
Taxes: $3,171
Acres: 0.08
County: PRINCE GEORGES
Lot Size: 3,680
Updated: Aug 23, 2021 4:35 PM
Subdivision: RIVERDALE
List date: 6/15/21
List Price: $275,000
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Style: ["Colonial"]
Orig list price: $275,000
Features Above Grade Finished Area Source: Assessor
Below Grade Finished Area Units: Square Feet
Above Grade Finished Area Units: Square Feet
Construction Materials: Brick
Accessibility Features: None
Cooling: Window Unit(s), Central A/C, Ceiling Fan(s)
Basement: Other
Levels: 2 Living Area Source: Estimated
Structure Type: Twin/SemiDetached Tax Lot: 8
Lot Size Source: Assessor
Tax Year: 2020
Lot Size Units: Square Feet
Water Source: Public Zoning: R35
Below Grade Finished Area: 550
Cooling Fuel: Electric
Special Listing Conditions: Standard
Heating: Central
Senior Community Yn: false
Below Grade Finished Area Source: Estimated
Heating Fuel: Natural Gas
Sewer: Public Sewer
Hot Water: Electric
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
15
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Remarks Conveniently Located Within Walking Distance From Multiple Restaurants & Parks. This Townhouse Has Two 2 Bedrooms On The Second Level And Two Bedrooms In The Basement With A Bonus Room That Can Make A 5Th Bedroom. The Basement Also Has A Second Kitchen. Huge Deck In The Back Along With A Shed In The Yard. After Some TLC This Property Will Be A Great Home.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
16
Comparative Market Analysis
5304 59 Th Ave
6311 Kennedy Street, Riverdale, Maryland 20737
$271,000 CLOSED
MLS #MDPG2000246
Riverdale, MD 20737
8/19/21
4 Beds 2.0/0 Baths Year Built 1952
896 Sq. Ft. ($302 / sqft) Days on market: 20
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
17
Analysis
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Comparable Property Statistics S
4 Sold Listings LOWEST
$271,000
AVERAGE
$276,000
HIGH
$290,000
AVG PRICE / SQFT
AVG DOM
$243
9
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
19
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
Sold Property Analysis Averages
101.3%
Homes sold for an average of 101.3% of their list price.
9
Days on market
It took an average of 9 days for a home to sell.
Analysis ADDRESS
ORIG LIST PRICE
SOLD PRICE
% OF ORIG LIST PRICE
DOM
$ PER SQFT
6306 Longfellow St
$275,000
$290,000
105.45%
6
$197
5506 59 Th Ave
$250,000
$272,000
108.80%
6
$236
5514 63 Rd Ave
$250,000
$271,000
108.40%
7
$235
5304 59 Th Ave
$275,000
$271,000
98.55%
20
$302
$262,500
$276,000
105.14%
9
$243
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
20
Comparative Market Analysis
6311 Kennedy Street, Riverdale, Maryland 20737
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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