Score
0Kensington, MD
10502 Drumm Ave
940K
3 beds
4 baths
2,208 sqft
3 bd • 4 ba • 2,208 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$939,900
Price/Sq.Ft
$426
Year Built
1987
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
The property at 10502 Drumm Ave in Kensington, MD offers several attractive features:
1. Location: Situated in the highly sought-after Historic Kensington area, just steps away from the MARC train, local parks, and Antique Row shops and restaurants. This prime location combines charm with convenience.
2. Recent Updates: The home has undergone significant improvements, including:
- Bathrooms completely remodeled in 2017
- New windows and roof for improved energy efficiency
- Fresh paint and new carpeting in basement and second levels
3. Spacious Layout: At 2,208 sq ft, the home is 15% larger than the average 3-bedroom home in the area (typically around 1,900 sq ft). It offers versatile living spaces across three levels.
4. Price Point: At $425.68/sq ft, it's priced competitively compared to the Kensington average of $450-$500/sq ft for similar properties.
5. Strong Appreciation: The property has appreciated 79% since its last sale in 2015 ($525,000 to $939,900), outperforming the overall Kensington market average of 60-65% for the same period.
6. Low Climate Risks: Minimal flood risk (1/10) and fire risk (1/10), which is better than many properties in the area and can lead to lower insurance costs.
7. Rental Potential: Based on local rates, a 3-bedroom home like this could potentially rent for around $2,380/month, offering investment opportunities.
8. School Proximity: Within 1 mile of elementary, middle, and high schools, adding convenience for families with children.
9. Outdoor Space: Features both an upper deck and lower deck, plus a yard and play area, maximizing outdoor enjoyment and adding value for families or entertainers.
The Bad
1. Age of the Property: Built in 1987, the home is 36 years old, which may mean ongoing maintenance and potential system replacements in the near future.
2. School Ratings: The assigned schools have average ratings (4-5/10), which might be a concern for families prioritizing top-rated schools.
3. Air Quality and Heat Risks: The property has a moderate air quality risk (3/10) and a major heat risk (6/10), which could impact comfort and potentially increase cooling costs.
4. Price History Volatility: The property has seen significant price fluctuations, including a recent 2.1% decrease, which might indicate challenges in accurately valuing the property.
5. Days on Market: While only on the market for 1 day in its current listing, it was previously listed and removed, potentially indicating some market resistance.
6. Limited Bedroom Count: With only 3 bedrooms, it may not meet the needs of larger families, potentially limiting the buyer pool.
7. High Insurance Costs: Estimated annual insurance of $3,383.64 is on the higher side for the area, which increases the total cost of ownership.
8. Potential for Outdated Features: While some updates have been made, other areas (like the kitchen) may need modernization, adding to potential future costs.
9. Traffic and Noise: Proximity to the MARC train, while convenient, may also mean increased noise levels, especially during commute hours.
The Ugly
1. High Total Cost of Ownership: When factoring in the mortgage (assuming 20% down at current rates), property taxes, insurance, and estimated maintenance, monthly costs could exceed $5,500. This is significantly higher than the area's median income can comfortably afford, potentially limiting the buyer pool.
2. Potential Market Correction: The property's 79% appreciation since 2015 significantly outpaces the area average. This rapid growth might not be sustainable, posing a risk of a market correction or stagnation in the near future.
3. Climate Change Impact: The major heat risk (6/10) is concerning. With 7 extremely hot days per year and a 98th percentile temperature of 103°F, this could lead to increased cooling costs and potential health risks. This issue may worsen over time due to climate change.
4. Aging Systems: At 36 years old, major systems like HVAC, plumbing, and electrical may need replacement soon. Estimated costs:
- HVAC replacement: $10,000 - $15,000
- Plumbing updates: $5,000 - $10,000
- Electrical panel upgrade: $2,000 - $4,000
5. Potential Foundation Issues: The property's location backing to wooded areas could mean tree root intrusion, potentially causing foundation problems. Repair costs could range from $5,000 for minor issues to over $30,000 for major repairs.
6. Market Timing Concerns: The property was temporarily off-market and has seen recent price reductions. This, combined with only 1 day on market in the current listing, might indicate attempts to time the market or potential hidden issues.
7. Zoning and Historic District Restrictions: Being in the Historic Kensington area may impose strict regulations on exterior modifications, potentially limiting future renovation options and increasing costs for any changes.
8. Tenancy History: The mention of tenants moving out suggests it was a rental property. This could mean more wear and tear than a typical owner-occupied home, potentially leading to hidden maintenance issues.
9. Competitive Market Pressures: Kensington's desirability and limited inventory can lead to bidding wars. Buyers might feel pressured to waive contingencies, increasing their risk exposure.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for:
1. Upper-Middle Income Professionals: With a total monthly cost potentially exceeding $5,500, this home is ideal for households with an annual income of $200,000+, based on a 33% debt-to-income ratio.
2. Commuters: The proximity to the MARC train makes it perfect for those working in Washington D.C. or Baltimore who prefer a suburban lifestyle.
3. Small Families or Couples: The 3-bedroom layout is ideal for those who need space but don't require 4+ bedrooms.
4. Home Office Users: The versatile spaces, including a finished basement, offer potential for setting up one or more home offices.
5. Entertainers: With formal dining, living rooms, and multiple outdoor spaces, it's great for those who enjoy hosting.
6. Historic Charm Enthusiasts: Buyers who appreciate the character of Historic Kensington and are willing to embrace potential restrictions for preservation.
7. Fixer-Upper Investors: Those with the budget and vision to update and potentially flip the property, capitalizing on its prime location and recent market appreciation.
8. Empty Nesters: The layout and location could appeal to those downsizing from larger homes but still wanting space and a prime location.
9. Nature Lovers: The wooded backdrop and nearby parks will appeal to those who value green spaces and outdoor activities.
Not For
This property is not ideal for:
1. First-Time Homebuyers: The high price point and potential for additional costs make it challenging for those just entering the market.
2. Large Families: With only 3 bedrooms, it may not provide enough space for families needing 4+ bedrooms.
3. Budget-Conscious Buyers: The high total cost of ownership, including potential maintenance and upgrades, makes it unsuitable for those on tight budgets.
4. Investors Seeking Immediate High Returns: While the location is desirable, the current price point and potential need for updates may limit short-term rental yields or flip profits.
5. Those Sensitive to Noise: Proximity to the MARC train and potential for neighborhood construction (given the area's popularity for renovations) might be problematic for noise-sensitive individuals.
6. Buyers Seeking Turnkey Properties: Despite some updates, other areas may need work, making it less ideal for those wanting a move-in ready home with no projects.
7. Heat-Sensitive Individuals: The major heat risk (6/10) could be problematic for elderly residents or those with health conditions exacerbated by extreme heat.
8. Car Enthusiasts: The listing doesn't mention a garage, which could be a drawback for those with multiple vehicles or those needing a workshop space.
9. Those Seeking New Construction: At 36 years old, this property won't appeal to buyers specifically looking for new builds with modern designs and up-to-date systems.
Demographics
Area Median Income
$158,204
Property History
Price History
Ownership Timeline
$525,000Cash Purchase
Apr 29, 2015Mark A Schmit, Kerry Lynn SchmitAnthanasios E Balatsos, Anastasia Balatsos
Deed
Standard Sale (Purchase/Resales)
$335,000Cash Purchase
Jan 1, 1970Carolyn J Tr KapustaMark A & Kerry L Schmit
Deed
Standard Sale (Purchase/Resales)
$287,000Cash Purchase
Jan 1, 1970Peter M HughesCarolyn J Kapusta
Deed
Standard Sale (Purchase/Resales)
Property Taxes
$7,105
2024 Tax Assessment
0.1%from previous year
Assessed Value$617,200
Tax Rate1.15%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
7.0/10
GoodMiddle
5.5/10
AverageHigh
6.0/10
GoodFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$1,640
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$939,900
Price/sqft
$426
Layout
3 bd•4 ba
Days on market
78 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$898,333
4.6%
Your price is 4.6% above average
Median Price
$975,000
3.6%
Based on 6 recent sales
Price per Sq.Ft
$400
6.4%
Your price is 6.4% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 11115 HILLSDALE DR, KENSINGTON, MD 20895 | $1,000,000 | 2,150 | 4 | 4 | $4659.3% | 12/17/2024 |
| 4024 SIMMS DR, KENSINGTON, MD 20895 | $885,000 | 2,556 | 4 | 4 | $34618.7% | 10/18/2024 |
| 11036 AMHERST AVE, SILVER SPRING, MD 20902 | $595,000 | 1,966 | 3 | 4 | $30328.9% | 9/13/2024 |
| 9733 W BEXHILL DR, KENSINGTON, MD 20895 | $1,300,000 | 2,583 | 3 | 4 | $50318.2% | 10/3/2024 |
| 11104 AMHERST AVE, SILVER SPRING, MD 20902 | $635,000 | 1,970 | 3 | 4 | $32224.3% | 9/6/2024 |
| 4313 PULLER DR, KENSINGTON, MD 20895 | $975,000 | 2,118 | 3 | 3 | $4608.1% | 11/1/2024 |
11115 HILLSDALE DR, KENSINGTON, MD 20895
Price: $1,000,000
Sq.Ft: 2,150
Beds/Baths: 4/4
$/Sq.Ft:
$4659.3%
Sale Date: 12/17/2024
4024 SIMMS DR, KENSINGTON, MD 20895
Price: $885,000
Sq.Ft: 2,556
Beds/Baths: 4/4
$/Sq.Ft:
$34618.7%
Sale Date: 10/18/2024
11036 AMHERST AVE, SILVER SPRING, MD 20902
Price: $595,000
Sq.Ft: 1,966
Beds/Baths: 3/4
$/Sq.Ft:
$30328.9%
Sale Date: 9/13/2024
9733 W BEXHILL DR, KENSINGTON, MD 20895
Price: $1,300,000
Sq.Ft: 2,583
Beds/Baths: 3/4
$/Sq.Ft:
$50318.2%
Sale Date: 10/3/2024
11104 AMHERST AVE, SILVER SPRING, MD 20902
Price: $635,000
Sq.Ft: 1,970
Beds/Baths: 3/4
$/Sq.Ft:
$32224.3%
Sale Date: 9/6/2024
4313 PULLER DR, KENSINGTON, MD 20895
Price: $975,000
Sq.Ft: 2,118
Beds/Baths: 3/3
$/Sq.Ft:
$4608.1%
Sale Date: 11/1/2024
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