12346 Old Bridge Rd #164 · West Ocean City, MD 21842

$185,000

2 bd · 1.0 ba · 616 sqft · SingleFamily · 127 Days on market

Built 2020 Good condition 435 sqft lot $300/sqft · 44% below area Est $329k · 44% under

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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 +17.3/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Now is an ideal time to secure this slice of the “Beach Life” pie. Make 12346 Old Bridge Rd, lot 164 with 2 bedrooms & 1 bathroom yours to live in year-round or to use whenever you want to getaway and/or rent. Being in West Ocean City is about as good as it gets. First, it alone has lots to offer - well known for great spots including the fishing harbor, public boat ramp, outlets & specialty shops, coffee shops, restaurants, bars, spas, campgrounds, amusements & more! Now ADD to that, being in West O’ makes this property close to the famous Ocean City boardwalk & its’ downtown beach, as well as Assateague Island and Historic Downtown Berlin. The property highlights include vinyl flooring, HVAC, an open floorplan, stainless steel appliances, a space-saving stacked washer & dryer, and the bedrooms are separated by the common living space. There is a 2nd exterior door where you’ll find a small, fenced area, 3 outbuildings, and a ground level deck area. This property is on a desirable corner lot. Out front is a 2-car driveway and an area for some nice landscape be it flowers, bushes, herbs, you decide. There are couple more ground level decks as well as a large, raised deck to enter from the front. The Salt Life Community offers nice amenities: a pool with a bathhouse, ample lounge seating nearby, a gazebo with TVs & outdoor lounge areas, outdoor kitchen & fireplaces, community boardwalk, its own fishing pier and a nice beach area. Remember Life is Not a Dress Rehearsal - Own at The Beach!

Key facts

• Fenced area
• 3 outbuildings
• 2 car driveway

Tags

• STAINLESS STEEL APPLIANCES
• FENCED AREA
• 3 OUTBUILDINGS
• GROUND LEVEL DECK AREA
• CORNER LOT
• 2 CAR DRIVEWAY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $185k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $136 ($2k/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 $179k (3.2% below list).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 2.6% in West 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 78/100 on livability (#69 in MD, #2,499 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities C-, commute F, cost of living D-.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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

• It's been on market 127 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $15k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $162,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 7.18%
• Cash-on-cash: 3.16%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $329,375
• List price: $185,000
• Delta: -43.83%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-21,273
• Equity at exit: $27,584

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-7,240
• Equity at exit: $15,995

Cash invested: $51,800 (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: 8.6×

Monthly cashflow live

• Estimated rent: $1,791 medium
• Mortgage (P&I): −$970
• Tax est. 1.5%: −$231 /mo · $2,775/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $136

Break-even live

Break-even rent $1,618

Max offer price $185,000

Occupancy floor 87%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-18
   days on market $185,000 Active 127 DOM
2. 2026-06-17
   days on market $185,000 Active 126 DOM
3. 2026-06-16
   days on market $185,000 Active 125 DOM
4. 2026-06-15
   days on market $185,000 Active 124 DOM
5. 2026-06-14
   days on market $185,000 Active 122 DOM
6. 2026-06-13
   days on market $185,000 Active 121 DOM
7. 2026-06-10
   days on market $185,000 Active 119 DOM
8. 2026-06-09
   days on market $185,000 Active 118 DOM
9. 2026-06-08
   days on market $185,000 Active 117 DOM
10. 2026-06-07
    days on market $185,000 Active 116 DOM
11. 2026-06-03
    price $185,000 Active 111 DOM
12. 2026-06-02
    days on market $190,000 Active 111 DOM
13. 2026-06-01
    days on market $190,000 Active 110 DOM
14. 2026-05-31
    days on market $190,000 Active 109 DOM
15. 2026-05-30
    days on market $190,000 Active 108 DOM
16. 2026-05-14
    price $190,000 1582-char remark

    Show marketing remark (1582 chars)

    Now is an ideal time to secure this slice of the “Beach Life” pie. Make 12346 Old Bridge Rd, lot 164 with 2 bedrooms & 1 bathroom yours to live in year-round or to use whenever you want to getaway and/or rent. Being in West Ocean City is about as good as it gets. First, it alone has lots to offer - well known for great spots including the fishing harbor, public boat ramp, outlets & specialty shops, coffee shops, restaurants, bars, spas, campgrounds, amusements & more! Now ADD to that, being in West O’ makes this property close to the famous Ocean City boardwalk & its’ downtown beach, as well as Assateague Island and Historic Downtown Berlin. The property highlights include vinyl flooring, HVAC, an open floorplan, stainless steel appliances, a space-saving stacked washer & dryer, and the bedrooms are separated by the common living space. There is a 2nd exterior door where you’ll find a small, fenced area, 3 outbuildings, and a ground level deck area. This property is on a desirable corner lot. Out front is a 2-car driveway and an area for some nice landscape be it flowers, bushes, herbs, you decide. There are couple more ground level decks as well as a large, raised deck to enter from the front. The Salt Life Community offers nice amenities: a pool with a bathhouse, ample lounge seating nearby, a gazebo with TVs & outdoor lounge areas, outdoor kitchen & fireplaces, community boardwalk, its own fishing pier and a nice beach area. Remember Life is Not a Dress Rehearsal - Own at The Beach!

17. 2026-02-11
    listed $200,000 Active 1582-char remark

    Show marketing remark (1582 chars)

    Now is an ideal time to secure this slice of the “Beach Life” pie. Make 12346 Old Bridge Rd, lot 164 with 2 bedrooms & 1 bathroom yours to live in year-round or to use whenever you want to getaway and/or rent. Being in West Ocean City is about as good as it gets. First, it alone has lots to offer - well known for great spots including the fishing harbor, public boat ramp, outlets & specialty shops, coffee shops, restaurants, bars, spas, campgrounds, amusements & more! Now ADD to that, being in West O’ makes this property close to the famous Ocean City boardwalk & its’ downtown beach, as well as Assateague Island and Historic Downtown Berlin. The property highlights include vinyl flooring, HVAC, an open floorplan, stainless steel appliances, a space-saving stacked washer & dryer, and the bedrooms are separated by the common living space. There is a 2nd exterior door where you’ll find a small, fenced area, 3 outbuildings, and a ground level deck area. This property is on a desirable corner lot. Out front is a 2-car driveway and an area for some nice landscape be it flowers, bushes, herbs, you decide. There are couple more ground level decks as well as a large, raised deck to enter from the front. The Salt Life Community offers nice amenities: a pool with a bathhouse, ample lounge seating nearby, a gazebo with TVs & outdoor lounge areas, outdoor kitchen & fireplaces, community boardwalk, its own fishing pier and a nice beach area. Remember Life is Not a Dress Rehearsal - Own at The Beach!

18. 2021-08-06
    soldstatus $129,900 Closed 953-char remark

    Show marketing remark (953 chars)

    BETTER MOVE FASTON THIS NEW HOME! Now is your chance to make a day vacation in this 2-bedroom 1-bath beach retreat. Inside you will find a nice size Living Room, an Eat-in kitchen Equipped with Electric Radiant Range with Range Hood, Frost Free Refrigerator with Ice-Maker, Double Stainless Steel Sink, Breakfast Bar. The Full bath has a Fiberglass Combination Tub & Shower. Off the Hallway, Stack Washer & Dryer. Three Ceiling Fans with Lights. This is a home you will truly love. You will enjoy the nice wooded sundeck just right for relaxing and that special summer cookout. Located in a desirable community in West Ocean City, just minutes away from the Assateague Island State Park and Ocean City beaches and BoardWalk and Inlet, close to shopping and restaurants. The community is open year-round and is 50+. The buyer will need to pass a background check and be approved by the Park owner. BETTER CALL NOW BEFORE IT’S TOO LATE!

19. 2021-07-02
    historical Active Under Contract 953-char remark

    Show marketing remark (953 chars)

    BETTER MOVE FASTON THIS NEW HOME! Now is your chance to make a day vacation in this 2-bedroom 1-bath beach retreat. Inside you will find a nice size Living Room, an Eat-in kitchen Equipped with Electric Radiant Range with Range Hood, Frost Free Refrigerator with Ice-Maker, Double Stainless Steel Sink, Breakfast Bar. The Full bath has a Fiberglass Combination Tub & Shower. Off the Hallway, Stack Washer & Dryer. Three Ceiling Fans with Lights. This is a home you will truly love. You will enjoy the nice wooded sundeck just right for relaxing and that special summer cookout. Located in a desirable community in West Ocean City, just minutes away from the Assateague Island State Park and Ocean City beaches and BoardWalk and Inlet, close to shopping and restaurants. The community is open year-round and is 50+. The buyer will need to pass a background check and be approved by the Park owner. BETTER CALL NOW BEFORE IT’S TOO LATE!

20. 2021-07-02
    listed $129,900 Active 953-char remark

    Show marketing remark (953 chars)

    BETTER MOVE FASTON THIS NEW HOME! Now is your chance to make a day vacation in this 2-bedroom 1-bath beach retreat. Inside you will find a nice size Living Room, an Eat-in kitchen Equipped with Electric Radiant Range with Range Hood, Frost Free Refrigerator with Ice-Maker, Double Stainless Steel Sink, Breakfast Bar. The Full bath has a Fiberglass Combination Tub & Shower. Off the Hallway, Stack Washer & Dryer. Three Ceiling Fans with Lights. This is a home you will truly love. You will enjoy the nice wooded sundeck just right for relaxing and that special summer cookout. Located in a desirable community in West Ocean City, just minutes away from the Assateague Island State Park and Ocean City beaches and BoardWalk and Inlet, close to shopping and restaurants. The community is open year-round and is 50+. The buyer will need to pass a background check and be approved by the Park owner. BETTER CALL NOW BEFORE IT’S TOO LATE!

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

Taxation est. · year 1

• Rental income: $21,490
• − Mortgage interest: −$10,363
• − Property taxes: −$2,775
• − Insurance: −$925
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$5,382
• Taxable loss: −$1,393
• Est. tax savings @ 24.0%: +$334
• After-tax cash flow: $1,969/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 · 12 photos

Good 80/100 Cosmetic rehab

This mobile home is in good condition with a good condition score of 80. It has a cosmetic rehab level and requires minor repairs and maintenance. The highest-ROI updates that would raise its resale or rental value are painting the exterior siding, replacing the deck railings, and upgrading the landscaping.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the deck railings — Improves safety and adds value
• Both Upgrade the landscaping — Enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the deck railings — Improves safety and adds value ↑
• Both Upgrade the landscaping — Enhances curb appeal and adds value ↑

ⓘ 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 — West Ocean City

• Score: 78/100
• State rank: #69
• US rank: #2499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West 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

+46.3% since first listed

5 events — show timeline

• 2026-05-14 Price Changed $190,000 BRIGHT MLS
• 2026-02-11 Listed $200,000 BRIGHT MLS
• 2021-08-06 Sold (MLS) $129,900 BRIGHT MLS
• 2021-07-02 Contingent — BRIGHT MLS
• 2021-07-02 Listed $129,900 BRIGHT MLS