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8 E Mac Phail Rd
Bel Air, MD

8 E Mac Phail Rd

$449,900
3 bd • 3 ba • 2,580 sf

This analysis was generated by artificial intelligence on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

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AI Property Analysis

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List Price

$449,900

Price/Sq.Ft

$174

Year Built

1940

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This 1940 colonial home offers exceptional value at $174.38/sqft, which is significantly below the Bel Air average of $200-$250/sqft for similar properties. The 2,580 sqft of living space is 20% larger than the typical 3-bedroom home in the area. Recent renovations have modernized the property, including a gourmet kitchen with custom granite counters (estimated value: $15,000-$20,000), luxury bathroom upgrades (estimated value: $10,000-$12,000), and energy-efficient additions like added insulation (potential 10-15% reduction in energy costs). The 0.31-acre lot provides ample outdoor space, a rarity for properties this close to downtown Bel Air. Its walk score of 80 puts it in the top 10% of properties in Bel Air for accessibility to amenities. The property's flood risk score of 1/10 is exceptional, significantly reducing insurance costs and long-term risks.

The Bad

The property's age (built in 1940) may lead to higher maintenance costs despite recent renovations. The oil heating system, while functional, is less efficient than modern alternatives and may need replacement in the near future (estimated cost: $6,000-$8,000). The rapid price increase from $289,000 in November 2024 to the current listing of $449,900 (a 55.7% jump) may raise concerns about overpricing, potentially leading to a longer time on market. The severe heat risk score of 7/10 is concerning, with 7 extremely hot days per year, which could lead to higher cooling costs and potential comfort issues.

The Ugly

The property's wind risk score of 5/10 (major) is a significant concern, potentially leading to 20-30% higher insurance premiums and increased risk of storm damage. The rapid appreciation since the last sale (55.7% in less than two months) may indicate potential market volatility or speculative pricing, which could impact future resale value. The oil heating system, while functional, is environmentally unfriendly and may face increasing regulation or costs in the future. The moderate air quality risk (3/10) with 2 bad air days per year could be a health concern for sensitive individuals.

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 ideal for families or professionals seeking a spacious home close to urban amenities. With 3 bedrooms and 2.5 baths, it can comfortably accommodate a family of 4-5. The walkable location (0.2 miles from Homestead/Wakefield Elementary School, rated 8/10) makes it perfect for families with school-age children. The gourmet kitchen and luxury bathroom upgrades appeal to buyers seeking modern amenities without the hassle of renovation. Investors could potentially earn $2,009/month in rent (based on local 3-bedroom rental rates), suggesting a potential gross yield of 5.3% annually.

Not For

This property is not suitable for buyers on a tight budget, given the $449,900 price tag and potential for high maintenance costs due to its age. It's also not ideal for those seeking a turnkey investment property, as the recent price jump may limit near-term appreciation potential. Individuals sensitive to heat or with respiratory issues may find the severe heat risk (7/10) and moderate air quality risk (3/10) problematic. The property may not suit those looking for a more rural setting, given its proximity to downtown and smaller lot size compared to more outlying areas of Bel Air.
Demographics
Area Median Income

$100,556

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Risk Assessment

Climate Risks

heatSEVERE

7 extreme heat days per year

98th percentile: 105°F

windMAJOR

Insurance: Required

airMODERATE

2 bad air quality days per year

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

fireMINIMAL

Insurance: Optional

Risk Analysis

The major wind risk (5/10) poses a significant threat of storm damage and higher insurance costs. The severe heat risk (7/10) may lead to increased cooling costs and potential comfort issues during peak summer months. The oil heating system may face regulatory challenges or increased costs in the future due to environmental concerns. The rapid price appreciation since the last sale (55.7% in less than two months) raises concerns about market stability and potential for price correction. Despite renovations, the property's age (built 1940) suggests potential for hidden structural issues or outdated systems that may require costly repairs or replacements in the near future.
Insurance
Annual Cost

$1,620

$135 per month

Financials

Monthly Costs

Price History

Property Taxes

$2,806
2024 Tax Assessment
4.9%from previous year
Assessed Value$257,433
Tax Rate1.09%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$495,525

10.1% above list price

Median Price

$482,000

Based on 6 recent sales

Price per Sq.Ft

$198

Comparable Properties

106 N LYNBROOK RD, BEL AIR, MD 21014
Price: $482,000
Sq.Ft: 2,533
Beds/Baths: 3/3
$/Sq.Ft:
$1909.1%
Sale Date: 11/20/2024
7 E BROOK HILL CT, BEL AIR, MD 21014
Price: $630,000
Sq.Ft: 2,896
Beds/Baths: 4/3
$/Sq.Ft:
$21824.8%
Sale Date: 11/4/2024
616 PONDEROSA DR, BEL AIR, MD 21014
Price: $460,152
Sq.Ft: 2,299
Beds/Baths: 3/3
$/Sq.Ft:
$20014.8%
Sale Date: 10/29/2024
4 INVERNESS WAY, BEL AIR, MD 21014
Price: $506,000
Sq.Ft: 2,198
Beds/Baths: 4/3
$/Sq.Ft:
$23032.0%
Sale Date: 10/18/2024
4 HUNTER DR, BEL AIR, MD 21014
Price: $420,000
Sq.Ft: 2,576
Beds/Baths: 4/3
$/Sq.Ft:
$1636.5%
Sale Date: 8/25/2024
900 CHASE CT, BEL AIR, MD 21014
Price: $475,000
Sq.Ft: 2,572
Beds/Baths: 3/3
$/Sq.Ft:
$1855.9%
Sale Date: 8/22/2024

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