300 Robin Dr · Ocean City, MD 21842

$230,000

None bd · 1.0 ba · 459 sqft · Townhouse · 14 Days on market

Built 1973 Fair condition Est $253k · 9% under

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Why this score? — see what drove the D+ 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 +14.1/30.0
• ARV discount +11.7/15.0
• DSCR +4.3/10.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

For Sale Upgrades New A/C and Heat unit New Stove New Refrigerator $220,000 if prices trend downward $200,000 if downward trend is 3 months

Key facts

• New stove
• New refrigerator
• Built 1973

Tags

• NEW A/C AND HEAT UNIT
• NEW STOVE
• NEW REFRIGERATOR

What this means for you Summary

Snapshot

• This is a ?-bed/1.0-bath townhouse listed at $230k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-34 ($-411/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (2.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $205k (10.7% below list).
• Recommended offer: $205k (10.7% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 1.4% in Ocean City — 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 73/100 on livability (#125 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, schools B+; Watch: cost of living C-, crime F.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 673 active listings in the ZIP; solid renter incomes; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).
• This rent runs 31% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $205,278 (10.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.60%
• DSCR: 1.03
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $253,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2707 Judlee Ave #202	0.03mi	1/1.0	445 (-3%)	6mo	$205,000	$461	88
300 Robin Dr #212	0.00mi	—/1.0	496 (+8%)	8mo	$183,500	$370	80
6 34th St #153	0.43mi	—/1.0	464 (+1%)	4mo	$275,000	$593	75
2301 Philadelphia Ave #510	0.31mi	—/1.0	408 (-11%)	2mo	$208,000	$510	66
2301 Philadelphia Ave #405	0.31mi	—/1.0	408 (-11%)	2mo	$165,000	$404	65
508 Robin Dr #47	0.42mi	1/1.0	500 (+9%)	6mo	$245,000	$490	61
2301 Philadelphia Ave #403	0.31mi	1/1.0	408 (-11%)	10mo	$200,000	$490	59
504 Robin Dr #69	0.39mi	1/1.0	396 (-14%)	1mo	$235,000	$593	58
504 Robin Dr #50	0.39mi	1/1.0	396 (-14%)	8mo	$264,900	$669	53
3609 N Canal St #6	0.53mi	1/1.0	408 (-11%)	7mo	$279,000	$684	51
512 Robin Dr #14	0.45mi	1/1.0	396 (-14%)	8mo	$226,900	$573	49
8 36th St #207	0.52mi	1/1.0	525 (+14%)	4mo	$290,000	$552	49

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-39,379
• Equity at exit: $34,294

10-year hold

• IRR: -9.2%
• Equity multiple: 0.43×
• Total profit: $-36,807
• Equity at exit: $19,886

Cash invested: $64,400 (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 21842

• Home prices YoY: -5.0%
• Active inventory: 673
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,053 medium
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$288 /mo · $3,450/yr
• Insurance: −$96
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$431
• Net cashflow: $-34

Break-even live

Break-even rent $2,096

Max offer price $225,045

Occupancy floor 97%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $230,000 Active 14 DOM
2. 2026-06-17
   days on market $230,000 Active 13 DOM
3. 2026-06-16
   days on market $230,000 Active 12 DOM
4. 2026-06-15
   days on market $230,000 Active 11 DOM
5. 2026-06-14
   days on market $230,000 Active 9 DOM
6. 2026-06-13
   days on market $230,000 Active 8 DOM
7. 2026-06-10
   days on market $230,000 Active 6 DOM
8. 2026-06-09
   days on market $230,000 Active 5 DOM
9. 2026-06-08
   days on market $230,000 Active 4 DOM
10. 2026-06-07
    remarks 141-char remark
11. 2026-06-07
    listed $230,000 Active 3 DOM

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,633
• − Mortgage interest: −$12,884
• − Property taxes: −$3,450
• − Insurance: −$1,948
• − Repairs & maintenance: −$1,971
• − Management: −$1,971
• − Depreciation: −$6,691
• Taxable loss: −$4,280
• Est. tax savings @ 24.0%: +$1,027
• After-tax cash flow: $616/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.

Condition & rehab AI · 3 photos

Fair 45/100 Cosmetic rehab

The property is in fair condition with minor repairs and maintenance needed. Upgrades to interior walls, kitchen, and exterior can significantly enhance its value.

Repairs flagged

• Minor kitchen cabinets — Standard kitchen cabinets may need minor touch-ups or cleaning.
• Minor bathroom fixtures — Standard bathroom fixtures may need minor cleaning or touch-ups.
• Minor exterior siding — Exterior siding may need minor touch-ups or cleaning.
• Minor interior walls — Interior walls may need touch-ups or repainting.
• Minor windows — Windows may need minor cleaning or touch-ups.
• Minor HVAC filters — New HVAC unit may need filters replaced.
• Minor landscaping — Landscaping may need minor trimming or maintenance.

Value-add opportunities

• Both Paint interior walls — Fresh paint can significantly improve the home's appearance and value.
• Both Replace kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic appeal.
• Both Upgrade bathroom fixtures — Modern fixtures can improve the bathroom's functionality and aesthetic appeal.
• Both Upgrade exterior siding — New siding can improve the home's curb appeal and energy efficiency.
• Both Landscaping improvements — Well-maintained landscaping can enhance the home's curb appeal and property value.
• Both HVAC system maintenance — Regular maintenance can ensure the HVAC system operates efficiently and reduces energy costs.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · Standard kitchen cabinets may need minor touch-ups or cleaning.	Minor	$500–3,000
bathroom fixtures · Standard bathroom fixtures may need minor cleaning or touch-ups.	Minor	$500–3,000
exterior siding · Exterior siding may need minor touch-ups or cleaning.	Minor	$500–3,000
interior walls · Interior walls may need touch-ups or repainting.	Minor	$500–3,000
windows · Windows may need minor cleaning or touch-ups.	Minor	$500–3,000
HVAC filters · New HVAC unit may need filters replaced.	Minor	$500–3,000
landscaping · Landscaping may need minor trimming or maintenance.	Minor	$500–3,000
Total estimated repair cost · 7 items		$3,500–21,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can significantly improve the home's appearance and value. ↑
• Both Replace kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic appeal. ↑
• Both Upgrade bathroom fixtures — Modern fixtures can improve the bathroom's functionality and aesthetic appeal. ↑
• Both Upgrade exterior siding — New siding can improve the home's curb appeal and energy efficiency. ↑
• Both Landscaping improvements — Well-maintained landscaping can enhance the home's curb appeal and property value. ↑
• Both HVAC system maintenance — Regular maintenance can ensure the HVAC system operates efficiently and reduces energy costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

Livability — Ocean City

• Score: 73/100
• State rank: #125
• US rank: #5407

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean City, MD
• County: Worcester County · 35,603 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 11,226
• Household income: $79,876
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 322.0

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Russian/Polish/Slavic 3% Other Indo-European 2%

Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.65%
• Current HPI: 482.18
• Rent YoY: —
• 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

+1816.7% since first listed

3 events — show timeline

• 2026-06-04 Listed $230,000 ForSaleByOwner.com
• 2026-05-23 Price Changed $2,000 Avail
• 2026-03-26 Listed for Rent $12,000 Avail