Two similar properties: which is best for long-term cash flow?

[Nancy Roth]

Weighing two potential condo acquisitions. 

Condo A is proximate to large army base (Fort Meade, in Anne Arundel County, MD). It is a 3/2, 1,032 sf.

Condo B is in a middle-class suburb in Baltimore County, MD. It is a 2/1, 961 sf.

Both have voucher tenants (different kinds of vouchers). Both condos have monthly fees of just under $200. Both tenants would like to stay.

The Condo B tenant voucher pays $1475/month and the listed price is $119.9K.

The Condo A tenant voucher is $1400/month and the listed price is $129K. 

At present, Condo B is clearly a better buy, going strictly by the numbers. But how do I evaluate for the long term? Specifically, the cash-flow and liquidity of each investment? Being able to achieve maximum and stable cash flow, or being able to cash out quickly over the long term is really important to me.

I believe Condo A in the long run will benefit from being very close to the army base, a key employer in the area, and will always have a built-in pool of potential tenants and/or buyers.  

Am I exaggerating the value of this location? Does the advantage of owning a 3/2 near Fort Meade make Condo A the better value though it costs more?

Having owned rentals since 2012, I know how to work through each scenario strictly by the numbers as each currently stands. 

But I would be grateful for counsel on how to compare the longterm cash-flow and liquidity of these alternate investments. I have access to the multiple listing service. 

Thanks for your time.   

Nancy E. Roth

Washington, DC