820 N 4th St · Oakland, MD 21550

$40,000

2 bd · 1.0 ba · 782 sqft · SingleFamily public records · 107 Days on market

Built 1922 0.34 ac lot $51/sqft · 71% below area ↓ 14% since listing

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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
• Appreciation +4.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks MLS

Step into potential with this 2 bed, 1 bath home being sold AS IS. Located in a convenient community with town water & sewer, this property offers a blank canvas for the savvy buyer or investor ready to bring a vision to life. The house has been gutted and is ready for the new owner to start the renovation, providing a clear interior and a fresh slate to customize the layout, finishes, and design. This property presents excellent renovation potential in a desirable neighborhood, with utility lines in place to help you map out the project efficiently. Important notes: proceed with caution entering the home. It is sold as-is with no warranties; buyers should conduct their own inspections and due diligence. Ideal for investors, contractor buyers, or those seeking a DIY restoration project. This is your chance to transform a shell into a personalized oasis—schedule a showing to discuss renovation ideas, potential layouts, and timeline. If you’re ready to roll up your sleeves and create a charming residence, this property is calling your name.

Key facts

• Town sewer
• Town water
• Renovation potential

Tags

• TOWN WATER
• TOWN SEWER
• RENOVATION POTENTIAL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $40k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($941 rent vs $40k).
• Recommended offer: $36k (9.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 0.6% in Oakland — 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 73/100 on livability (#124 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Garrett County Public Schools (rural): math 17% / reading 30% proficiency, ranked #16 of 24 in MD (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 183 active listings in the ZIP; 122 units permitted in Garrett County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $164 of equity ($277 loan paydown + $-113 appreciation (-0.3% local appreciation)).
• Garrett County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-0.3% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 107 days — a 9% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 20y ago; this cycle's ask has dropped $20k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $36,400 (9.0% below list)

Questions for the listing agent

1. It's been on market 107 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 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 2.35% ✓
• Cap rate: 19.26%
• Cash-on-cash: 46.30%
• DSCR: 3.06
• GRM: 3.5

CMA / ARV

• ARV (median comp): $135,776
• List price: $40,000
• Delta: -70.54%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 Coolidge Ave	0.54mi	2/1.0	720 (-8%)	9mo	$135,000	$188	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 47.3%
• Equity multiple: 3.31×
• Total profit: $25,862
• Equity at exit: $11,055

10-year hold

• IRR: 50.3%
• Equity multiple: 6.60×
• Total profit: $62,767
• Equity at exit: $12,850

Cash invested: $11,200 (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 21550

• Home prices YoY: -0.1%
• Active inventory: 183
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $941 medium
• Mortgage (P&I): −$210
• Tax from tax record: −$85 /mo · $1,020/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $432

Break-even live

Break-even rent $394

Max offer price $40,000

Occupancy floor 49%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $40,000 Active 107 DOM
2. 2026-06-17
   days on market $40,000 Active 106 DOM
3. 2026-06-16
   days on market $40,000 Active 105 DOM
4. 2026-06-15
   days on market $40,000 Active 104 DOM
5. 2026-06-13
   days on market $40,000 Active 102 DOM
6. 2026-06-12
   days on market $40,000 Active 101 DOM
7. 2026-06-09
   days on market $40,000 Active 98 DOM
8. 2026-06-08
   days on market $40,000 Active 97 DOM
9. 2026-06-07
   days on market $40,000 Active 96 DOM
10. 2026-06-07
    days on market $40,000 Active 95 DOM
11. 2026-06-04
    days on market $40,000 Active 92 DOM
12. 2026-06-02
    days on market $40,000 Active 91 DOM
13. 2026-06-01
    days on market $40,000 Active 90 DOM
14. 2026-05-31
    days on market $40,000 Active 89 DOM
15. 2026-05-31
    days on market $40,000 Active 88 DOM
16. 2026-05-05
    price $50,000 1072-char remark

    Show marketing remark (1072 chars)

    Step into potential with this 2 bed, 1 bath home being sold AS IS. Located in a convenient community with town water & sewer, this property offers a blank canvas for the savvy buyer or investor ready to bring a vision to life. The house has been gutted and is ready for the new owner to start the renovation, providing a clear interior and a fresh slate to customize the layout, finishes, and design. This property presents excellent renovation potential in a desirable neighborhood, with utility lines in place to help you map out the project efficiently. Important notes: proceed with caution entering the home. It is sold as-is with no warranties; buyers should conduct their own inspections and due diligence. Ideal for investors, contractor buyers, or those seeking a DIY restoration project. This is your chance to transform a shell into a personalized oasis—schedule a showing to discuss renovation ideas, potential layouts, and timeline. If you’re ready to roll up your sleeves and create a charming residence, this property is calling your name.

17. 2026-03-03
    listed $60,000 Active 1072-char remark

    Show marketing remark (1072 chars)

    Step into potential with this 2 bed, 1 bath home being sold AS IS. Located in a convenient community with town water & sewer, this property offers a blank canvas for the savvy buyer or investor ready to bring a vision to life. The house has been gutted and is ready for the new owner to start the renovation, providing a clear interior and a fresh slate to customize the layout, finishes, and design. This property presents excellent renovation potential in a desirable neighborhood, with utility lines in place to help you map out the project efficiently. Important notes: proceed with caution entering the home. It is sold as-is with no warranties; buyers should conduct their own inspections and due diligence. Ideal for investors, contractor buyers, or those seeking a DIY restoration project. This is your chance to transform a shell into a personalized oasis—schedule a showing to discuss renovation ideas, potential layouts, and timeline. If you’re ready to roll up your sleeves and create a charming residence, this property is calling your name.

18. 2006-06-28
    historical
19. 2006-03-15
    listed
20. 1993-05-26
    soldstatus $57,400
21. 1992-11-24
    soldstatus $58,000

ⓘ 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: $1,020 · $85/mo
• Projected year-2 tax: $1,020 · $85/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥90°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,295
• − Mortgage interest: −$2,241
• − Property taxes: −$1,020
• − Insurance: −$200
• − Repairs & maintenance: −$904
• − Management: −$904
• − Depreciation: −$1,164
• Taxable income: $4,863
• Est. tax owed @ 24.0%: −$1,167
• After-tax cash flow: $4,018/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: Garrett County Public Schools
• NCES district ID: 2400360
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 30% ▼ -13.00%
• Median HH income: $45,705
• Composite: 20.36/100
• National rank: #8600
• State rank: #16 of 24 in MD

Livability — Oakland

• Score: 73/100
• State rank: #124
• US rank: #5331

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 13,469

Population outlook (Garrett County) Hauer SSP2

• Today (2025): 28,304 people
• By 2030: 27,248 · -3.7%
• By 2040: 24,596 · -13.1%
• By 2050: 21,703 · -23.3%
• By 2075: 15,766 · -44.3%
• By 2100: 11,363 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 2% Hispanic / Latino 1%
• Common ancestry: Italian 3% Slovak 2% Romanian 2%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · German/W. Germanic 2% Spanish 1%

Political lean MEDSL · Garrett

• 2024 margin: Solid R (+54.0) · D 21.9% · R 75.9% · Other 2.2%
• 2008→2024 swing: -13.9pp toward R · 2008: -40.1pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+55.9 2016: R+61.5 2012: R+52.1 2008: R+40.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -0.28%
• Current HPI: 297.3615
• 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

-13.8% since first listed

6 events — show timeline

• 2026-05-05 Price Changed $50,000 BRIGHT MLS
• 2026-03-03 Listed $60,000 BRIGHT MLS
• 2006-06-28 Delisted — MRIS
• 2006-03-15 Listed — MRIS
• 1993-05-26 Sold (Public Records) $57,400 Public Records
• 1992-11-24 Sold (Public Records) $58,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $1,020 · -1.2% YoY. Source: county tax records.