934 Singerly Rd

Elkton, MD 21921

$139,999B+

4 bd · 1.0 ba · 1,020 sqft · Built 1940 · SingleFamily · Active · 5 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,154/mo
• Mortgage (P&I): −$734
• Tax + insurance: −$300
• HOA: −$0
• Vac / Maint / Mgmt: −$452
• Net cashflow: $668/mo
• Annual: $8,011/yr
• Cap rate: 12.02%
• Cash-on-cash: 20.44%
• DSCR: 1.91
• 1% rule: 1.54%
• Cash to close: $39,200

Investor read

• This is a 4-bed/1.0-bath single-family listed at $140k.
• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 65/100 on livability (#261 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime F, commute F.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Gilpin Manor Elementary (math 2% / reading 8%, grade F, #766 of 860 statewide, top 93%, 477 students, 78% FRL); Elkton Middle (math 6% / reading 25%, grade F, #190 of 225 statewide, top 85%, 523 students, 74% FRL); Elkton High (math 32% / reading 58%, grade D-, #124 of 222 statewide, top 56%, 1,106 students, 62% FRL) — zoned schools average 71% FRL vs 37% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising (+2.3%/yr); 206 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).
• Current owner paid $60k; list at $140k implies a 131% gain — meaningful room to come down on a strong offer.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $39k cash investment doubles in ~7 years — after that, you're playing with house money.
• Cap rate 12.0% vs local median 4.1% in Elkton — 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.
• This rent runs 30% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.