4 Anchor Way Dr · West Ocean City, MD 21811

$324,900

3 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 13 Days on market

Built 1987 5,288 sqft lot $95/mo HOA · 3% of rent

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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 +24.2/30.0
• DSCR +7.8/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great home in Mystic Harbour ready to welcome a new family! Hardly used and well maintained home features 3 bedrooms and 2 full baths, living room, dining area, kitchen with laundry room and a huge family room addition with lots of windows. Sold furnished for your convenience with a few exclusions. 1 yr HMS Home Warranty for Buyers peace of mind. Recent updates include Leaf guards in all gutters, new door in addition, new carpet in 2014, new heat pump in 2012. Low HOA fee includes grass cutting, pool/tennis/playground, trash pick up. Whole neighborhood just had streets resurfaced by the county at NO cost to the association. Strong self managed association just had new pool deck put in and new community fence paid for by reserves. All this and only short drive to best beaches around!

Key facts

• 5,288 sq ft lot
• 2 parking spots
• Community pool

Property features AI

Finance

• HOA & community: Monthly HOA fee of $95; HOA covers common area maintenance, lawn maintenance, management, pool(s), reserve funds, trash, and water; Community amenities include outdoor pool, tennis courts, and basketball courts

Exterior

• Parking: Concrete driveway with 2 driveway parking spaces (total 2 garage/parking spaces listed)
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Fee simple ownership; Not in a federal flood zone
• Construction: Vinyl siding; Crawl space foundation; Roof: Unknown
• Exterior features: Patio(s); Community pool; Pets allowed (cats and dogs allowed, case-by-case)

Interior

• Kitchen: Dishwasher; Electric oven/range; Refrigerator; Kitchen island; Table space in kitchen
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump heating; Central air conditioning (electric)
• Interior features: Ceiling fans; Combination dining/living area; Combination kitchen/dining area; Combination kitchen/living area; Dining area; Family room off the kitchen; Kitchen island; Kitchen table space; Master bathroom
• Laundry & utility: Washer; Dryer; 60+ gallon hot water tank

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $325k.

Deal economics

• At list price, monthly cash flow is $645 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $325k).
• Cap rate 8.7% 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: 315 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).
• At $3,485/mo this rent would consume 46% of the median local household income ($90k/yr) (locally 551% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y ago 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.
• Current owner paid $157k; list at $325k implies a 107% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: 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 $324,900

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.07% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-11,583
• Equity at exit: $48,444

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $42,702
• Equity at exit: $28,091

Cash invested: $90,972 (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 21811

• Home prices YoY: -29.0%
• Active inventory: 315
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $3,485 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$173 /mo · $2,080/yr
• Insurance: −$135
• HOA: −$95
• Vacancy / Maint / Mgmt: −$732
• Net cashflow: $645

Break-even live

Break-even rent $2,668

Max offer price $324,900

Occupancy floor 76%

Sensitivity live

Price	-10% $829	-5% $737	+0% $645	+5% $553	+10% $461
Rent	-10% $370	-5% $508	+0% $645	+5% $783	+10% $921
Rate	-1.0pp $809	-0.5pp $728	base $645	+0.5pp $561	+1.0pp $475

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 White Crane Dr Berlin, MD	4.0	3.0	1900	$3,200	$1.68	22d	1	0.37mi
13002 Bowline Ln #5 Ocean City, MD	4.0	3.5	2160	$3,500	$1.62	45d	1	1.49mi

HOA detail

• Monthly dues: $95 · $1,140/yr
• Likely covers: trashpool

Listing history 11 events

1. 2026-06-18
   days on market $324,900 Active 13 DOM
2. 2026-06-17
   days on market $324,900 Active 12 DOM
3. 2026-06-16
   days on market $324,900 Active 11 DOM
4. 2026-06-15
   days on market $324,900 Active 10 DOM
5. 2026-06-14
   days on market $324,900 Active 8 DOM
6. 2026-06-13
   days on market $324,900 Active 7 DOM
7. 2026-06-10
   days on market $324,900 Active 5 DOM
8. 2026-06-09
   days on market $324,900 Active 4 DOM
9. 2026-06-08
   days on market $324,900 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $324,900 Active 2 DOM

ⓘ 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: $2,080 · $173/mo
• Projected year-2 tax: $2,811 · $234/mo
• Expected delta: +$731/yr (+$61/mo · 35.1%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,815
• − Mortgage interest: −$18,199
• − Property taxes: −$2,080
• − Insurance: −$1,624
• − Repairs & maintenance: −$3,345
• − Management: −$3,345
• − HOA: −$1,140
• − Depreciation: −$9,452
• Taxable income: $2,629
• Est. tax owed @ 24.0%: −$631
• After-tax cash flow: $7,112/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: 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): 24,377
• Household income: $90,082
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 551.0

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 (82%)
• Race & ethnicity: White 82% Black 9% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 1%

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: ▼ -119.52%
• Current HPI: 292.9004
• 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

+446.1% since first listed

8 events — show timeline

• 2026-06-05 Listed $324,900 BRIGHT MLS
• 2026-06-03 Coming Soon $324,900 BRIGHT MLS
• 2016-07-08 Sold (Public Records) $157,000 Public Records
• 2016-06-23 Sold (MLS) $157,000 BRIGHT MLS
• 2016-05-19 Listed $165,000 BRIGHT MLS
• 2015-09-05 Listing Removed — BRIGHT MLS
• 2015-06-06 Listed $167,900 BRIGHT MLS
• 1987-12-15 Sold (Public Records) $59,500 Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,080 · +5.0% YoY. Source: county tax records.