921 Brown St · Salisbury, MD 21804

$165,000

3 bd · 1.0 ba · 1,212 sqft · SingleFamily public records · 4 Days on market

Built 1954 7,405 sqft lot $136/sqft · at area comps Est $166k · at est.

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +22.1/30.0
• ARV discount +7.7/15.0
• DSCR +7.1/10.0
• 1% rule +4.7/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1-bath home located close to shopping, dining, and everyday amenities. This well-maintained property features a functional layout with two bedrooms on the main level and a finished second floor as the 3rd bedroom or just added space for an office, workout room or playroom. Major updates have already been completed, including a roof and HVAC system replaced within the past 10 years, providing added peace of mind for the next owner. Enjoy a spacious yard—perfect for outdoor entertaining, gardening, or simply relaxing. Great opportunity for first-time buyers, downsizers, or investors looking for a solid home in a convenient location.

Key facts

• 7,405 sq ft lot
• Built 1954
• Listed 4 days

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Detached property; Ownership: Fee simple; Year built: estimated
• Construction: Stick-built with vinyl siding; Crawl space foundation; Above- and below-grade structures noted
• Exterior features: Outbuilding(s); Not in a federal flood zone; In city limits

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: Two bedrooms on the main level; One bedroom on the upper level
• Flooring: Hardwood; Laminate
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Heat pump(s) heating; Central air conditioning (electric)
• Interior features: Attic/house fan; Ceiling fan(s); Entry-level bedroom
• Laundry & utility: Washer/dryer stacked; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $266 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $160k (3.0% below list).
• Recommended offer: $160k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 8.2% vs local median 4.8% in Salisbury — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.8%/yr); 195 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,015 (3.0% below list)

Questions for the listing agent

1. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 8.23%
• Cash-on-cash: 6.91%
• DSCR: 1.31
• GRM: 8.6

CMA / ARV

• ARV (median comp): $165,736
• List price: $165,000
• Delta: -0.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 Brown St	0.00mi	3/1.0	1,212 (0%)	1mo	$165,000	$136	99
627 Liberty St	0.24mi	3/2.5	1,189 (-2%)	6mo	$223,000	$188	75
406 Hammond St	0.27mi	3/1.0	1,326 (+9%)	3mo	$196,600	$148	70
508 Christopher St	0.25mi	3/2.0	1,120 (-8%)	3mo	$160,000	$143	69
1405 Westchester St	0.37mi	3/1.5	1,300 (+7%)	0mo	$261,000	$201	68
113 Priscilla St	0.51mi	2/1.0 (-1)	1,248 (+3%)	0mo	$180,000	$144	66
1012 Phillips Ave	0.48mi	3/2.0	1,244 (+3%)	4mo	$260,000	$209	66
1313 Westchester St	0.37mi	3/1.0	1,050 (-13%)	5mo	$220,000	$210	57
109 Priscilla St	0.53mi	3/2.0	1,359 (+12%)	1mo	$267,000	$196	50
124 Priscilla St	0.44mi	3/1.5	1,392 (+15%)	3mo	$145,500	$105	50
208 Union Ave	0.55mi	4/2.0 (+1)	1,336 (+10%)	3mo	$265,000	$198	46
102-1 S Saratoga St	0.57mi	2/1.0 (-1)	1,080 (-11%)	6mo	$209,900	$194	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.81×
• Total profit: $-8,580
• Equity at exit: $24,602

10-year hold

• IRR: 5.5%
• Equity multiple: 1.42×
• Total profit: $19,379
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21804

• Home prices YoY: -26.7%
• Rents YoY: 3.8%
• Active inventory: 195
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$865
• Tax from tax record: −$64 /mo · $767/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $266

Break-even live

Break-even rent $1,263

Max offer price $165,000

Occupancy floor 78%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
906 Johnson St Salisbury, MD	3.0	1.5	875	$1,495	$1.71	44d	1	0.10mi
929 Johnson St Salisbury, MD	2.0	1.0	988	$1,400	$1.42	21d	1	0.10mi
604 Liberty St Salisbury, MD	3.0	1.0	1110	$1,500	$1.35	44d	1	0.13mi
411 Dover St Salisbury, MD	3.0	2.0	984	$1,600	$1.63	44d	1	0.13mi
821 Johnson St Salisbury, MD	2.0	1.0	939	$1,495	$1.59	13d	1	0.15mi
915 N Division St Unit A Salisbury, MD	3.0	1.0	900	$1,395	$1.55	44d	1	0.57mi
205 W London Ave Salisbury, MD	2.0	1.0	840	$1,500	$1.79	21d	1	0.59mi
529 E William St Salisbury, MD	3.0	1.0	1057	$1,495	$1.41	21d	1	0.80mi
504 Plover Rd Salisbury, MD	3.0	1.0	768	$1,295	$1.69	44d	1	1.04mi
304 Glen Ave Salisbury, MD	1.0–2.0	1.0	675	$1,300	$1.93	44d	4	1.07mi
308 N Division St #12 Salisbury, MD	2.0	1.0	990	$1,295	$1.31	44d	1	1.07mi
507 Overbrook Dr Salisbury, MD	3.0	1.0	1140	$1,495	$1.31	13d	1	1.33mi
218 W Main St Unit 401 Salisbury, MD	2.0	1.0	1060	$1,695	$1.60	44d	1	1.34mi

Listing history 4 events

1. 2026-05-09
   status Pending 664-char remark
2. 2026-05-06
   listed $165,000 Active 664-char remark
3. 2026-04-28
   historical $165,000 664-char remark
4. 1989-09-13
   soldstatus $44,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $767 · $64/mo
• Projected year-2 tax: $1,283 · $107/mo
• Expected delta: +$516/yr (+$43/mo · 67.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,202
• − Mortgage interest: −$9,243
• − Property taxes: −$767
• − Insurance: −$825
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$4,800
• Taxable income: $495
• Est. tax owed @ 24.0%: −$119
• After-tax cash flow: $3,076/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

Amenities F Commute F Cost of living A Crime F Employment D- Housing A Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, MD
• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 40,430
• Household income: $73,156
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 2096.0

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 54% Black 30% Two or more races 9% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · French/Haitian/Cajun 7% Spanish 5% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.15%
• Current HPI: 230.6099
• Rent YoY: ▲ 3.78%
• Metro: Salisbury, MD-DE
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+275.0% since first listed

5 events — show timeline

• 2026-05-29 Sold (MLS) $165,000 BRIGHT MLS
• 2026-05-09 Pending — BRIGHT MLS
• 2026-05-06 Listed $165,000 BRIGHT MLS
• 2026-04-28 Coming Soon $165,000 BRIGHT MLS
• 1989-09-13 Sold (Public Records) $44,000 Public Records

Property tax history

-1.5%/yr

Latest (2025): $767 · +7.4% YoY. Source: county tax records.