395 Woodbine

Hutton, MD 26764

$164,000B

2 bd · 1.0 ba · 1,020 sqft · Built 1976 · Manufactured · Active · 51 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,038/mo
• Mortgage (P&I): −$860
• Tax + insurance: −$113
• HOA: −$0
• Vac / Maint / Mgmt: −$428
• Net cashflow: $637/mo
• Annual: $7,645/yr
• Cap rate: 10.95%
• Cash-on-cash: 16.65%
• DSCR: 1.74
• 1% rule: 1.24%
• Cash to close: $45,920

Investor read

• This is a 2-bed/1.0-bath manufactured listed at $164k.
• At list price, monthly cash flow is $637 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• It's been on market 51 days — a 3% lower offer ($159k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $159k (3.0% below list) — sets the bar for market timing.
• In year one you build about $4k of equity ($1k loan paydown + $3k appreciation (1.7% local appreciation)).
• Location reads 41/100 on livability (#492 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Preston County Schools (rural): math 22% / reading 33% proficiency, ranked #39 of 55 in WV (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Terra Alta/East Preston School (math 20% / reading 29%, grade F, #287 of 377 statewide, top 85%, 310 students, 0% FRL); Preston High School (math 10% / reading 32%, grade F, #100 of 110 statewide, top 91%, 1,178 students, 0% FRL) — zoned schools average 0% FRL vs 43% district-wide (43 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 2 units permitted in Preston County in 2024 (0 in 5+ unit buildings).
• Preston County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 3 sale attempts since 5y ago; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; list at $164k implies a 93% gain — meaningful room to come down on a strong offer.
• At projected returns (1.7% appreciation + 3.0% rent growth), your $46k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.