12637 Bradbury Ave

Smithsburg, MD 21783

$59,900B-

4 bd · 1.0 ba · 2,048 sqft · Built 1921 · SingleFamily · Pending · 8 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,809/mo
• Mortgage (P&I): −$314
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$380
• Net cashflow: $916/mo
• Annual: $10,986/yr
• Cap rate: 24.63%
• Cash-on-cash: 65.50%
• DSCR: 3.91
• 1% rule: 3.02%
• Cash to close: $16,772

Investor read

• This is a 4-bed/1.0-bath single-family listed at $60k.
• At list price, monthly cash flow is $916 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $60k).
• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 76/100 on livability (#85 in MD, #3,302 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Washingtion County Public Schools (suburban): math 18% / reading 33% proficiency, ranked #13 of 24 in MD (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Smithsburg Middle (math 13% / reading 37%, grade F, #104 of 225 statewide, top 47%, 534 students, 47% FRL); Smithsburg High (math 52% / reading 82%, grade B, #50 of 222 statewide, top 23%, 717 students, 46% FRL).
• Zoned-school proficiency averages 46% at this address vs 26% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Washingtion County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 3.5% of price; built in 1921 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 32 active listings in the ZIP; 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.