239 Dove St · Salisbury, MD 21801

$70,000

2 bd · 2.0 ba · 840 sqft · Manufactured · 24 Days on market

Built 1967 Good condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.3/5.0
• Condition / age +4.0/5.0
• Livability +3.0/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

* More Pictures Coming Soon - This home has been completed Updated from top to bottom ! New Roof, New Windows, New Door, New Bamboo flooring, New Vinyl Siding, New Insulation, New Subfloors, New Bathrooms, and a New Vinyl Deck !! What more could you ask for? All the work has been done. All you have to do is move in ! The owner has even added an additional room that is currently being used as a dining room. New appliances, hot water tank and 3 ductless heat and air units. Bathrooms include new vanities, toilets, showers, fixtures and tile. Recessed lighting throughout. Open concept living. Must be park approved. Ask your agent for contact information and financing.

Key facts

• 2 parking spots
• Built 1967
• Listed 23 days

Property features AI

Finance

• Other: Property managed by a property manager; Property condition listed as very good; Located within city limits
• Financial info: Monthly ground rent: $565; Ownership is ground rent
• HOA & community: Ground rent exists for the lot (paid monthly)

Exterior

• Parking: Driveway parking for 2 vehicles (total 2 parking spaces)
• Utilities: Community water; Shared sewer; Electric service available; Cable TV available; Electric hot water
• Home design: Single-wide mobile home (pre-1976); Combination construction materials; Architectural shingle roof; Replacement windows; Above-grade living space approximately 840 finished square feet
• Construction: Single-wide mobile home (make: SCHT, model: HS); Above grade structure; Architectural shingle roof; Combination construction materials
• Exterior features: Rented lot in a park (Parkland); Not in a federal flood zone

Interior

• Kitchen: Built-in microwave; Dishwasher; Electric range/oven; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 2 full bathrooms (main level)
• Heating & cooling: Wall unit heating (electric); Ductless mini-split cooling (electric)
• Interior features: Open floor plan with combination dining/living area; Dining area; Family room off the kitchen; Drywall walls and ceilings
• Laundry & utility: Washer on main floor; Electric dryer on main floor

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $70k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $782 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $69k (1.5% below list) — sets the bar for market timing.
• Cap rate 19.7% vs local median 4.8% in Salisbury — 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 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.2%/yr); 194 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Recommended offer $68,950 (1.5% below list)

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 2.29% ✓
• Cap rate: 19.69%
• Cash-on-cash: 47.86%
• DSCR: 3.13
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 50.0%
• Equity multiple: 3.32×
• Total profit: $45,539
• Equity at exit: $10,437

10-year hold

• IRR: 57.2%
• Equity multiple: 7.91×
• Total profit: $135,517
• Equity at exit: $6,052

Cash invested: $19,600 (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 21801

• Home prices YoY: -30.6%
• Rents YoY: 7.2%
• Active inventory: 194
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,602 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $782

Break-even live

Break-even rent $612

Max offer price $70,000

Occupancy floor 46%

Sensitivity live

Price	-10% $830	-5% $806	+0% $782	+5% $757	+10% $733
Rent	-10% $655	-5% $718	+0% $782	+5% $845	+10% $908
Rate	-1.0pp $817	-0.5pp $799	base $782	+0.5pp $764	+1.0pp $745

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 Mill Pond Ln Salisbury, MD	2.0–3.0	2.0–3.0	1196	$1,590	$1.33	14d	6	0.34mi
416 E N Pointe Dr Salisbury, MD	1.0–3.0	1.0–2.0	999	$1,820	$1.82	14d	12	0.79mi

Listing history 17 events

1. 2026-06-21
   days on market $70,000 Coming Soon 24 DOM
2. 2026-06-18
   days on market $70,000 Coming Soon 21 DOM
3. 2026-06-17
   days on market $70,000 Coming Soon 20 DOM
4. 2026-06-16
   days on market $70,000 Coming Soon 19 DOM
5. 2026-06-15
   days on market $70,000 Coming Soon 18 DOM
6. 2026-06-14
   days on market $70,000 Coming Soon 16 DOM
7. 2026-06-13
   days on market $70,000 Coming Soon 15 DOM
8. 2026-06-10
   days on market $70,000 Coming Soon 13 DOM
9. 2026-06-09
   days on market $70,000 Coming Soon 12 DOM
10. 2026-06-08
    days on market $70,000 Coming Soon 11 DOM
11. 2026-06-07
    days on market $70,000 Coming Soon 10 DOM
12. 2026-06-03
    days on market $70,000 Coming Soon 6 DOM
13. 2026-06-02
    days on market $70,000 Coming Soon 5 DOM
14. 2026-06-01
    days on market $70,000 Coming Soon 4 DOM
15. 2026-05-31
    days on market $70,000 Coming Soon 3 DOM
16. 2026-05-30
    days on market $70,000 Coming Soon 2 DOM
17. 2026-05-28
    historical $70,000

ⓘ 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: $19,222
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$350
• − Repairs & maintenance: −$1,538
• − Management: −$1,538
• − Depreciation: −$2,036
• Taxable income: $8,789
• Est. tax owed @ 24.0%: −$2,109
• After-tax cash flow: $7,271/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 · 4 photos

Good 80/100 Cosmetic rehab

This manufactured home has been updated from top to bottom, featuring new siding, flooring, windows, and HVAC. It is move-in ready with a good condition score and excellent curb appeal.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value.
• Both Landscaping improvements — Enhances curb appeal and value.
• Resale New flooring in bathrooms — Improves the aesthetic and functionality of the bathrooms.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and value. ↑
• Both Landscaping improvements — Enhances curb appeal and value. ↑
• Resale New flooring in bathrooms — Improves the aesthetic and functionality of the bathrooms. ↑

ⓘ 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: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 30,088
• Household income: $71,313
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 964.0

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Black 33% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Hispanic 4% Romanian 2% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 4% French/Haitian/Cajun 3% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.55%
• Current HPI: 232.3103
• Rent YoY: ▲ 7.21%
• 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

1 event — show timeline

• 2026-05-28 Coming Soon $70,000 BRIGHT MLS