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Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
Erick Guevara MAY 3, 2021
Alex Martinez Group RE The Agency DC Metro
Comparative Market Analysis
5314 Patterson 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
5314 Patterson Street, Riverdale, Maryland 20737
Map of Comparable Listings
STATUS:
MLS #
STATUS
ADDRESS
S = CLOSED
BEDS
BATHS
SQFT
PRICE
5314 Patterson St
3
1.00
-
-
1,166
$352,000
1
Subject
2
MDPG589436
S
5012 Somerset Rd
3
1.0/1.0
3
MDPG593404
S
5602 Patterson St
3
2.0/0
815
$280,000
4
MDPG586632
S
6326 57 Th Ave
4
2.0/0
936
$331,500
5
MDPG600102
S
6301 51 St Ave
3
1.0/0
1,018
$310,000
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
Summary of Comparable Properties S
SOLD LISTINGS
ADDRESS
SOLD DATE
BEDS
BATHS
SQFT
PRICE
$/SQ.FT
5012 Somerset Rd
12/17/20
3
1.0/1.0
1,166
$352,000
$302
5602 Patterson St
3/5/21
3
2.0/0
815
$280,000
$344
6326 57 Th Ave
12/14/20
4
2.0/0
936
$331,500
$354
6301 51 St Ave
4/16/21
3
1.0/0
1,018
$310,000
$305
983
$318,375
$326
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
5314 Patterson Street, Riverdale, Maryland 20737
5012 Somerset Rd $352,000 CLOSED
MLS #MDPG589436
Riverdale, MD 20737
3 Beds 1.0/1.0 Baths Year Built 1950
12/17/20
1,166 Sq. Ft. ($302 / sqft) Days on market: 4
Details Prop Type: Single Family Residence
Full baths: 1.0
List date: 12/4/20
Orig list price: $325,000
Half baths: 1.0
Off-market date: 12/17/20
Taxes: $3,953
County: PRINCE GEORGES
Acres: 0.34
Subdivision: RIVERDALE PARK
Lot Size: 14,632.0
Updated: Apr 6, 2021 4:18 PM
Garages: 1
List Price: $325,000
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Units: Square Feet
Flooring: Carpet, Hardwood, Vinyl
Living Area Source: Assessor
Above Grade Finished Area Units: Square Feet
Carport Spaces: 1
Heating: Forced Air
Lot Size Source: Assessor
Construction Materials: Other
Heating Fuel: Natural Gas
Lot Size Units: Square Feet
Hot Water: Natural Gas
Main Level Bedrooms: 3
Cooling: Central A/C, Ceiling Fan(s)
Interior Features: Carpet, Family Room Off Kitchen, Ceiling Fan(s), Floor Plan Traditional, Kitchen - Table Space, Wood Floors
# Of Detached Garage Spaces: 1
Style: ["Ranch/Rambler"]
Features
Accessibility Features: None Appliances: Dishwasher, Disposal, Dryer - Gas, Exhaust Fan, Oven/Range Gas, Range Hood, Refrigerator, Washer, Water Heater Below Grade Finished Area Source: Assessor
Cooling Fuel: Electric Electric: 200+ Amp Service Exterior Features: Outbuilding(s), Sidewalks, Street Lights
Laundry Type: Main Floor Levels: 1
Property Condition: Very Good Roof: Asphalt Special Listing Conditions: Standard Senior Community Yn: false
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
6
Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
Sewer: Public Sewer
Tax Lot: 19
Structure Type: Detached
Tax Year: 2020
Total Garage And Parking Spaces: 2
Water Source: Public Zoning: R55
Remarks Expanded Rambler located in the sought after Riverdale Park. This freshly painted three bedroom with reRnished original hardwood Soors features warm eTcient gas heat and hot water. Lovey bathroom boast a jacuzzi tub perfect for unwinding at the end of the day. Nice spacious eat-in kitchen with preferred gas cooking. Family room with a great wood burning stove, perfect for family gatherings. The additional 5500 sq ft lot brings property total to just under 1/2 acre of secluded privacy. This home includes a carport and one car garage with additional out buildings which provide for ample storage. For your outdoor activities you'll enjoy a short walk to Riverdale Park where you will Rnd...tennis, baseball, basketball, biking, hiking and Rshing. You'll also enjoy Waggertail Dog Park perfect for mans best friend. Over two acres of fun for your furry pet!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
7
Comparative Market Analysis
5012 Somerset Rd
5314 Patterson Street, Riverdale, Maryland 20737
$352,000 CLOSED
MLS #MDPG589436
Riverdale, MD 20737
12/17/20
3 Beds 1.0/1.0 Baths Year Built 1950
1,166 Sq. Ft. ($302 / sqft) Days on market: 4
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
8
Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
5602 Patterson St $280,000 CLOSED
MLS #MDPG593404
Riverdale, MD 20737
3 Beds 2.0/0 Baths Year Built 1920
3/5/21
815 Sq. Ft. ($344 / sqft) Days on market: 4
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.1
Updated: Apr 6, 2021 7:12 PM
County: PRINCE GEORGES
Lot Size: 4,404.0
List Price: $265,000
Subdivision: RIVERDALE HEIGHTS
List date: 1/12/21
Orig list price: $265,000
Off-market date: 3/5/21
Taxes: $3,039
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Units: Square Feet
Living Area Source: Assessor
Sewer: Public Sewer
Above Grade Finished Area Units: Square Feet
Construction Materials: Other
Lot Size Source: Assessor
Tax Lot: 11.12
Lot Size Units: Square Feet
Accessibility Features: None
Cooling: Central A/C
Tax Year: 2021
Main Level Bedrooms: 3
Basement: Connecting Stairway, Workshop
Cooling Fuel: Electric
Water Source: Public
Property Condition: Very Good
Zoning: R55
Below Grade Finished Area Source: Assessor
Heating Fuel: Natural Gas
Style: ["Ranch/Rambler"]
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Features
Heating: Forced Air Hot Water: Natural Gas
Special Listing Conditions: Standard
Levels: 1
Senior Community Yn: false
Structure Type: Detached
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
9
Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
Remarks Nice cozy single family home in a great location, Excellent starter or great rental potential home offers three bedrooms two full bathrooms, third bedroom has separate entrance with bathroom and kitchenette, private parking and nice level backyard with a shed. Transportation and shopping center nearby one block for the future purple line metro station. Limit three persons (2 clients and 1 agent), practice social distancing, don't go if you feel unwell, don't touch anything, and wear shoe covers (if provided) ALL VISITORS MUST WEAR A MASK.
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
10
Comparative Market Analysis
5602 Patterson St
5314 Patterson Street, Riverdale, Maryland 20737
$280,000 CLOSED
MLS #MDPG593404
Riverdale, MD 20737
3/5/21
3 Beds 2.0/0 Baths Year Built 1920
815 Sq. Ft. ($344 / sqft) Days on market: 4
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
11
Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
6326 57 Th Ave $331,500 CLOSED
MLS #MDPG586632
Riverdale, MD 20737
4 Beds 2.0/0 Baths Year Built 1971
12/14/20
936 Sq. Ft. ($354 / sqft) Days on market: 6
Details Prop Type: Single Family Residence
Full baths: 2.0 Acres: 0.09
Updated: Dec 16, 2020 9:11 AM
County: PRINCE GEORGES
Lot Size: 4,000.0
List Price: $325,000
Subdivision: RIVERDALE HEIGHTS
List date: 11/6/20
Orig list price: $325,000
Off-market date: 12/16/20
Taxes: $3,236
Above Grade Finished Area Source: Assessor
Basement Finished Percent: 100.0
Heating Fuel: Natural Gas
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area: 936
Senior Community Yn: false
Accessibility Features: Level Entry - Main
Below Grade Finished Area Source: Estimated
Appliances: Dryer, Disposal, Exhaust Fan, Refrigerator, Stainless Steel Appliances, Stove, Washer
Below Grade Finished Area Units: Square Feet
Interior Features: Ceiling Fan(s), Combination Kitchen/ Dining, Kitchen - Eat-In, Recessed Lighting, Wood Floors Levels: 2
Tax Year: 2019
Construction Materials: Other
Living Area Source: Estimated
Total Garage And Parking Spaces: 1
Basement: Full, Fully Finished, Improved, Rear Entrance
Cooling: Central A/C
Lot Size Source: Assessor
Water Source: Public
Cooling Fuel: Electric
Lot Size Units: Square Feet
Zoning: R55
Heating: Forced Air
Main Level Bedrooms: 3
Driveway Spaces: 1
Style: ["Ranch/Rambler"]
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Features Hot Water: Natural Gas
Special Listing Conditions: Standard Sewer: Public Sewer Structure Type: Detached Tax Lot: 57
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
12
Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
Remarks THIS LOVELY UPDATED RAMBLER IS A MUST SEE!!! THIS HOME INCLUDES 4 BEDROOMS, 2 FULL BATHS, BEAUTIFUL REFINISHED HARDWOOD FLOORING ON THE MAIN LEVEL, UPDATED BATHROOMS, THE EAT-IN KITCHEN INCLUDES CERAMIC FLOORING, NEW STAINLESS STEEL APPLIANCES AND NEW COUNTERTOPS. THE FULLY FINISHED LOWER LEVEL INCLUDES LAMINATE FLOORING, RECESSED LIGHTING, A LARGE REC ROOM, A UTILITY ROOM WITH STORAGE SPACE AND MORE! THERE'S A SEPARATE ENTRANCE TO THE BASEMENT FROM THE REAR OF THE HOME. CONVENIENTLY LOCATED MINUTES FROM DC, BW PARKWAY, 495/95, PG PLAZA, GREENBELT MALL AND MORE! ALSO BLOCKS AWAY FROM PUBLIC TRANSPORTATION, BUS ROUTES, METRO PURPLE LINE AND MORE!!!!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
13
Comparative Market Analysis
6326 57 Th Ave
5314 Patterson Street, Riverdale, Maryland 20737
$331,500 CLOSED
MLS #MDPG586632
Riverdale, MD 20737
12/14/20
4 Beds 2.0/0 Baths Year Built 1971
936 Sq. Ft. ($354 / sqft) Days on market: 6
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
6301 51 St Ave $310,000 CLOSED
MLS #MDPG600102
Riverdale, MD 20737
3 Beds 1.0/0 Baths Year Built 1953
4/16/21
1,018 Sq. Ft. ($305 / sqft) Days on market: 5
Details Prop Type: Single Family Residence
Full baths: 1.0 Acres: 0.19
Updated: Apr 17, 2021 11:55 AM
County: PRINCE GEORGES
Lot Size: 8,250.0
List Price: $310,000
Subdivision: RIVERDALE PARK
List date: 3/18/21
Orig list price: $295,000
Off-market date: 4/17/21
Taxes: $4,528
Above Grade Finished Area Source: Assessor
Below Grade Finished Area Source: Assessor
Hot Water: Natural Gas
Sewer: Public Sewer
Levels: 1
Structure Type: Detached
Above Grade Finished Area Units: Square Feet
Below Grade Finished Area Units: Square Feet
Living Area Source: Assessor
Tax Lot: 16
Accessibility Features: None
Construction Materials: Other
Lot Size Source: Assessor
Virtual Tour: View
Lot Size Units: Square Feet
Water Source: Public
Main Level Bedrooms: 3
Zoning: R55
Style: ["Ranch/Rambler"]
School District: PRINCE GEORGE'S COUNTY PUBLIC SCHOOLS
Features
Appliances: Built-In Microwave, Dryer, Oven/ Range - Gas, Refrigerator, Stainless Steel Appliances, Washer, Water Heater
Cooling: Central A/C Cooling Fuel: Electric Heating: Central
Special Listing Conditions: Standard
Heating Fuel: Natural Gas
Senior Community Yn: false
Tax Year: 2020
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
15
Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
Remarks Charming three bedroom rancher in shady Riverdale Park. The open Soor plan bathes the beautiful granite and great Soors in lots of natural light. A durable, stylish metal roof and new (2020!) washer/dryer and exterior HVAC unit join contemporary, stainless steel appliances in providing a modern feel to a classic home. The nearly quarter-acre lot backs to trees and a walking park, and the upscale shopping and dining of Hyattsville is only minutes away. Homes at this price don't come often in Riverdale, come see it before it's gone!
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
16
Comparative Market Analysis
6301 51 St Ave
5314 Patterson Street, Riverdale, Maryland 20737
$310,000 CLOSED
MLS #MDPG600102
Riverdale, MD 20737
4/16/21
3 Beds 1.0/0 Baths Year Built 1953
1,018 Sq. Ft. ($305 / sqft) Days on market: 5
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
5314 Patterson Street, Riverdale, Maryland 20737
Comparable Property Statistics S
4 Sold Listings LOWEST
$280,000
AVERAGE
$318,375
HIGH
$352,000
AVG PRICE / SQFT
AVG DOM
$326
4
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
19
Comparative Market Analysis
5314 Patterson Street, Riverdale, Maryland 20737
Sold Property Analysis Averages
104.0%
Homes sold for an average of 104.0% of their list price.
4
Days on market
It took an average of 4 days for a home to sell.
Analysis ADDRESS
ORIG LIST PRICE
SOLD PRICE
% OF ORIG LIST PRICE
DOM
$ PER SQFT
5012 Somerset Rd
$325,000
$352,000
108.31%
4
$302
5602 Patterson St
$265,000
$280,000
105.66%
4
$344
6326 57 Th Ave
$325,000
$331,500
102.00%
6
$354
6301 51 St Ave
$295,000
$310,000
105.08%
5
$305
$302,500
$318,375
105.25%
4
$326
Averages
Alex Martinez Group RE The Agency DC Metro Cell: 2402582668 Info@AlexGroupRE.com | Www.TheAgencyDC.com
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Comparative Market Analysis
5314 Patterson 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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