816 Fairmount Ave · Cambridge, MD 21613

$125,000

3 bd · 2.0 ba · 1,312 sqft · SingleFamily public records · 109 Days on market

Built 1928 2,200 sqft lot $95/sqft · 54% above area

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.6/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Attention Investors. ! An excellent opportunity to own a two‑unit multifamily property with strong investment potential. This solid two‑unit multifamily investment property offers excellent upside for the right buyer. Each unit provides its own private entrance, separate utilities, and flexible floor plans ideal for long‑term tenants or short‑term rental strategies. The home needs repairs and updates throughout, giving investors the opportunity to add value quickly and increase rental income. Located in a convenient area close to local amenities, this property is well‑positioned for strong future returns once renovated. Perfect for contractors, seasoned investors, or anyone looking to build equity through improvement.

Key facts

• Flexible floor plans
• Separate utilities
• Two unit multifamily

Tags

• TWO UNIT MULTIFAMILY
• PRIVATE ENTRANCE
• SEPARATE UTILITIES
• FLEXIBLE FLOOR PLANS
• INVESTMENT POTENTIAL
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $658 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 4.3% in Cambridge — 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 65/100 on livability (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 294 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $14k; list at $125k implies a 797% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $113,750 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.46% ✓
• Cap rate: 12.61%
• Cash-on-cash: 22.55%
• DSCR: 2.00
• GRM: 5.7

CMA / ARV

• ARV (median comp): $81,114
• List price: $125,000
• Delta: 54.10%
• Verdict: OVERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
631 High St	0.11mi	3/1.5	1,260 (-4%)	10mo	$175,000	$139	78
422 Willis St	0.32mi	3/2.0	1,348 (+3%)	6mo	$185,000	$137	76
453 Willis St	0.28mi	3/2.0	1,242 (-5%)	7mo	$269,000	$217	72
802 Fairmount Ave	0.04mi	3/1.0	1,150 (-12%)	7mo	$135,000	$117	67
414 Willis St	0.34mi	2/1.5 (-1)	1,356 (+3%)	10mo	$53,000	$39	63
402 Robbins St	0.58mi	3/1.0	1,300 (-1%)	9mo	$105,000	$81	60
607 Edlon Park Dr	0.71mi	3/2.0	1,291 (-2%)	7mo	$269,999	$209	58
322 West End Ave	0.46mi	2/1.5 (-1)	1,254 (-4%)	10mo	$215,000	$171	56
417 Bayly Ave	0.66mi	3/1.5	1,398 (+7%)	10mo	$230,000	$165	48
211 West End Ave	0.61mi	3/1.5	1,448 (+10%)	10mo	$185,000	$128	44
1303 Colonial Ave	0.73mi	3/2.0	1,120 (-15%)	2mo	$235,000	$210	40
402 Bayly Ave	0.71mi	4/1.5 (+1)	1,500 (+14%)	9mo	$254,000	$169	29

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: 15.4%
• Equity multiple: 1.62×
• Total profit: $21,618
• Equity at exit: $18,638

10-year hold

• IRR: 24.0%
• Equity multiple: 3.08×
• Total profit: $72,678
• Equity at exit: $10,808

Cash invested: $35,000 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 294
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,822 high
• Mortgage (P&I): −$656
• Tax from tax record: −$74 /mo · $887/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$383
• Net cashflow: $658

Break-even live

Break-even rent $989

Max offer price $125,000

Occupancy floor 59%

Sensitivity live

Price	-10% $729	-5% $693	+0% $658	+5% $622	+10% $587
Rent	-10% $514	-5% $586	+0% $658	+5% $730	+10% $802
Rate	-1.0pp $721	-0.5pp $690	base $658	+0.5pp $625	+1.0pp $592

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
804 Allen St Cambridge, MD	4.0	2.0	1326	$1,800	$1.36	44d	1	0.30mi
406 Robbins St Cambridge, MD	3.0	2.0	1296	$1,800	$1.39	44d	1	0.57mi
800 Travers St #5 Cambridge, MD	2.0	1.0	1000	$1,195	$1.20	44d	1	0.59mi
401 N Seaway Ct Cambridge, MD	3.0	2.5	1867	$2,600	$1.39	44d	1	0.70mi
318 E Appleby Ave Cambridge, MD	3.0	2.5	1536	$2,100	$1.37	44d	1	0.89mi
1507 Race St Cambridge, MD	3.0	1.0	1260	$1,695	$1.35	44d	1	0.97mi

Listing history 18 events

1. 2026-06-21
   days on market $125,000 Active 109 DOM
2. 2026-06-18
   days on market $125,000 Active 107 DOM
3. 2026-06-17
   days on market $125,000 Active 106 DOM
4. 2026-06-16
   days on market $125,000 Active 105 DOM
5. 2026-06-15
   days on market $125,000 Active 104 DOM
6. 2026-06-13
   days on market $125,000 Active 102 DOM
7. 2026-06-12
   days on market $125,000 Active 101 DOM
8. 2026-06-09
   days on market $125,000 Active 98 DOM
9. 2026-06-08
   days on market $125,000 Active 97 DOM
10. 2026-06-07
    days on market $125,000 Active 96 DOM
11. 2026-06-07
    days on market $125,000 Active 95 DOM
12. 2026-06-04
    days on market $125,000 Active 92 DOM
13. 2026-06-02
    days on market $125,000 Active 91 DOM
14. 2026-06-01
    days on market $125,000 Active 90 DOM
15. 2026-05-31
    days on market $125,000 Active 89 DOM
16. 2026-05-31
    days on market $125,000 Active 88 DOM
17. 2026-03-03
    listed $125,000 Active 727-char remark

    Show marketing remark (727 chars)

    Attention Investors. ! An excellent opportunity to own a two‑unit multifamily property with strong investment potential. This solid two‑unit multifamily investment property offers excellent upside for the right buyer. Each unit provides its own private entrance, separate utilities, and flexible floor plans ideal for long‑term tenants or short‑term rental strategies. The home needs repairs and updates throughout, giving investors the opportunity to add value quickly and increase rental income. Located in a convenient area close to local amenities, this property is well‑positioned for strong future returns once renovated. Perfect for contractors, seasoned investors, or anyone looking to build equity through improvement.

18. 1984-09-19
    soldstatus $13,940

ⓘ 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: $887 · $74/mo
• Projected year-2 tax: $1,125 · $94/mo
• Expected delta: +$238/yr (+$20/mo · 26.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,863
• − Mortgage interest: −$7,002
• − Property taxes: −$887
• − Insurance: −$625
• − Repairs & maintenance: −$1,749
• − Management: −$1,749
• − Depreciation: −$3,636
• Taxable income: $6,215
• Est. tax owed @ 24.0%: −$1,492
• After-tax cash flow: $6,402/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• Rent YoY: —
• Metro: —
• 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

+796.7% since first listed

2 events — show timeline

• 2026-03-03 Listed $125,000 BRIGHT MLS
• 1984-09-19 Sold (Public Records) $13,940 Public Records

Property tax history

+4.7%/yr

Latest (2025): $887 · +28.0% YoY. Source: county tax records.