10 Willis St · Cambridge, MD 21613

$165,000

3 bd · 1.0 ba · 1,696 sqft · SingleFamily public records · 78 Days on market

Built 1908 4,609 sqft lot $97/sqft · 46% below area Est $316k · 48% under

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Why this score? — see what drove the B 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 +29.3/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 10 Willis St, Step into timeless charm with this 1908 Colonial-style home ideally located in a highly desirable waterfront area. This property offers the perfect blend of historic character and investment potential. Featuring 3 of bedrooms and 1 bathroom, this home boasts classic architectural details, spacious living areas, and plenty of natural light throughout. Situated just moments from the water, the location alone makes this a standout opportunity. This property does require minor repairs and updates, making it ideal for investors, flippers, or buyers looking to build equity quickly. With strong upside potential, this home is a great candidate for renovation, rental income, or resale. Highlights: Prime waterfront location Historic 1908 Colonial with original charm Solid structure with value-add potential Spacious layout with generous room sizes Strong ARV (After Repair Value) potential Located in a desirable and established neighborhood Property is being sold AS-IS. Inspections are for informational purposes only. Don’t miss this chance to own a piece of history and unlock its full potential. Schedule your showing today!

Key facts

• 4,609 sq ft lot
• Built 1908
• Listed 78 days

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 $156 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $155k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% vs local median 4.2% in Cambridge — 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 65/100 on livability (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 292 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 81 units permitted in Dorchester County in 2024 (0 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.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 28y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $165k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 76% 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 $155,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 1.33% ✓
• Cap rate: 10.53%
• Cash-on-cash: 15.12%
• DSCR: 1.67
• GRM: 6.2

CMA / ARV

• ARV (median comp): $316,322
• List price: $165,000
• Delta: -47.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
210 Choptank Ave	0.20mi	3/1.5	1,744 (+3%)	2mo	$245,000	$140	82
211 Choptank Ave	0.19mi	3/2.0	1,608 (-5%)	0mo	$205,000	$127	78
1205 Hambrooks Blvd	0.28mi	3/2.0	1,657 (-2%)	1mo	$315,000	$190	78
5 Willis St	0.03mi	3/2.0	1,863 (+10%)	1mo	$270,000	$145	77
114 Belvedere Ave	0.17mi	3/1.5	1,624 (-4%)	8mo	$289,900	$179	77
107 W End Ave	0.05mi	3/2.0	1,836 (+8%)	4mo	$275,000	$150	77
3 Merryweather Dr	0.73mi	3/2.0	1,660 (-2%)	0mo	$295,000	$178	58
1 Somerset Ave	0.43mi	2/1.0 (-1)	1,578 (-7%)	6mo	$276,500	$175	58
405 Leonards Ln	0.49mi	4/2.0 (+1)	1,608 (-5%)	5mo	$234,000	$146	55
314 Muir St	0.73mi	3/1.5	1,796 (+6%)	1mo	$76,500	$43	54
306 Oakley St	0.26mi	4/2.0 (+1)	1,905 (+12%)	6mo	$415,000	$218	53
412 Talbot Ave	0.57mi	3/2.0	1,809 (+7%)	7mo	$325,000	$180	53

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-16,525
• Equity at exit: $24,602

10-year hold

• IRR: -0.1%
• Equity multiple: 0.99×
• Total profit: $-391
• 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 21613

• Home prices YoY: -25.1%
• Active inventory: 292
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,202 high
• Mortgage (P&I): −$865
• Tax from tax record: −$224 /mo · $2,684/yr
• Insurance: −$69
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $156

Break-even live

Break-even rent $2,005

Max offer price $165,000

Occupancy floor 88%

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
414 Waterfield Ct Cambridge, MD	3.0	2.5	2000	$2,395	$1.20	43d	1	0.74mi
401 N Seaway Ct Cambridge, MD	3.0	2.5	1867	$2,600	$1.39	43d	1	0.86mi
804 Allen St Cambridge, MD	4.0	2.0	1326	$1,800	$1.36	43d	1	1.04mi
406 Robbins St Cambridge, MD	3.0	2.0	1296	$1,800	$1.39	43d	1	1.11mi
318 E Appleby Ave Cambridge, MD	3.0	2.5	1536	$2,100	$1.37	43d	1	1.46mi

Listing history 42 events

1. 2026-06-18
   days on market $165,000 Active 78 DOM
2. 2026-06-17
   days on market $165,000 Active 77 DOM
3. 2026-06-16
   days on market $165,000 Active 76 DOM
4. 2026-06-15
   days on market $165,000 Active 75 DOM
5. 2026-06-13
   days on market $165,000 Active 73 DOM
6. 2026-06-12
   days on market $165,000 Active 72 DOM
7. 2026-06-09
   days on market $165,000 Active 69 DOM
8. 2026-06-09
   price $165,000 Active 68 DOM
9. 2026-06-08
   days on market $175,000 Active 68 DOM
10. 2026-06-07
    days on market $175,000 Active 67 DOM
11. 2026-06-07
    days on market $175,000 Active 66 DOM
12. 2026-06-04
    days on market $175,000 Active 63 DOM
13. 2026-06-02
    days on market $175,000 Active 62 DOM
14. 2026-06-01
    days on market $175,000 Active 61 DOM
15. 2026-05-31
    days on market $175,000 Active 60 DOM
16. 2026-05-31
    days on market $175,000 Active 59 DOM
17. 2026-04-01
    listed $175,000 Active 1162-char remark

    Show marketing remark (1162 chars)

    Welcome to 10 Willis St, Step into timeless charm with this 1908 Colonial-style home ideally located in a highly desirable waterfront area. This property offers the perfect blend of historic character and investment potential. Featuring 3 of bedrooms and 1 bathroom, this home boasts classic architectural details, spacious living areas, and plenty of natural light throughout. Situated just moments from the water, the location alone makes this a standout opportunity. This property does require minor repairs and updates, making it ideal for investors, flippers, or buyers looking to build equity quickly. With strong upside potential, this home is a great candidate for renovation, rental income, or resale. Highlights: Prime waterfront location Historic 1908 Colonial with original charm Solid structure with value-add potential Spacious layout with generous room sizes Strong ARV (After Repair Value) potential Located in a desirable and established neighborhood Property is being sold AS-IS. Inspections are for informational purposes only. Don’t miss this chance to own a piece of history and unlock its full potential. Schedule your showing today!

18. 2026-03-20
    historical $175,000 1162-char remark

    Show marketing remark (1162 chars)

    Welcome to 10 Willis St, Step into timeless charm with this 1908 Colonial-style home ideally located in a highly desirable waterfront area. This property offers the perfect blend of historic character and investment potential. Featuring 3 of bedrooms and 1 bathroom, this home boasts classic architectural details, spacious living areas, and plenty of natural light throughout. Situated just moments from the water, the location alone makes this a standout opportunity. This property does require minor repairs and updates, making it ideal for investors, flippers, or buyers looking to build equity quickly. With strong upside potential, this home is a great candidate for renovation, rental income, or resale. Highlights: Prime waterfront location Historic 1908 Colonial with original charm Solid structure with value-add potential Spacious layout with generous room sizes Strong ARV (After Repair Value) potential Located in a desirable and established neighborhood Property is being sold AS-IS. Inspections are for informational purposes only. Don’t miss this chance to own a piece of history and unlock its full potential. Schedule your showing today!

19. 2024-10-03
    historical
20. 2024-09-09
    status Active
21. 2024-08-30
    status Pending
22. 2024-08-17
    price $199,900
23. 2024-08-02
    listed $209,000 Active
24. 2024-07-27
    historical
25. 2022-07-18
    soldstatus $85,000
26. 2020-11-20
    soldstatus $105,500 Closed
27. 2020-10-12
    status Pending
28. 2020-09-26
    listed Active Under Contract
29. 2020-09-26
    listed $115,000
30. 2005-06-27
    historical
31. 2005-05-25
    listed
32. 2004-12-06
    soldstatus $166,000
33. 2004-10-27
    soldstatus $166,000
34. 2004-09-26
    historical
35. 2004-09-20
    listed $178,500
36. 2001-08-28
    soldstatus $73,000
37. 2001-08-07
    historical
38. 2001-07-19
    listed $72,500
39. 1998-12-21
    soldstatus $57,500
40. 1998-12-15
    soldstatus $57,500
41. 1998-11-06
    historical
42. 1998-08-06
    listed $57,500

ⓘ 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: $2,684 · $224/mo
• Projected year-2 tax: $2,684 · $224/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 76% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,427
• − Mortgage interest: −$9,243
• − Property taxes: −$2,684
• − Insurance: −$5,944
• − Repairs & maintenance: −$2,114
• − Management: −$2,114
• − Depreciation: −$4,800
• Taxable loss: −$471
• Est. tax savings @ 24.0%: +$113
• After-tax cash flow: $1,980/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• Rent YoY: —
• Metro: —
• 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

+204.3% since first listed

26 events — show timeline

• 2026-04-01 Listed $175,000 BRIGHT MLS
• 2026-03-20 Coming Soon $175,000 BRIGHT MLS
• 2024-10-03 Listing Removed — BRIGHT MLS
• 2024-09-09 Relisted — BRIGHT MLS
• 2024-08-30 Pending — BRIGHT MLS
• 2024-08-17 Price Changed $199,900 BRIGHT MLS
• 2024-08-02 Listed $209,000 BRIGHT MLS
• 2024-07-27 Coming Soon — BRIGHT MLS
• 2022-07-18 Sold (Public Records) $85,000 Public Records
• 2020-11-20 Sold (MLS) $105,500 BRIGHT MLS
• 2020-10-12 Pending — BRIGHT MLS
• 2020-09-26 Listed — BRIGHT MLS
• 2020-09-26 Listed $115,000 BRIGHT MLS
• 2005-06-27 Delisted — MRIS
• 2005-05-25 Listed — MRIS
• 2004-12-06 Sold (Public Records) $166,000 Public Records
• 2004-10-27 Sold (MLS) $166,000 MRIS
• 2004-09-26 Delisted — MRIS
• 2004-09-20 Listed $178,500 MRIS
• 2001-08-28 Sold (MLS) $73,000 MRIS
• 2001-08-07 Delisted — MRIS
• 2001-07-19 Listed $72,500 MRIS
• 1998-12-21 Sold (Public Records) $57,500 Public Records
• 1998-12-15 Sold (MLS) $57,500 MRIS
• 1998-11-06 Delisted — MRIS
• 1998-08-06 Listed $57,500 MRIS

Property tax history

+3.4%/yr

Latest (2025): $2,684 · +6.4% YoY. Source: county tax records.