37245 Firemans Rd · Willards, MD 19966

$199,999

7 bd · 1.0 ba · 1,142 sqft · SingleFamily public records · 279 Days on market

Built 1974 2.23 ac lot ↓ 11% 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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• Schools +2.9/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious 7-bedroom, 1-bathroom farmhouse situated on just over 2 acres in the quiet town of Gumboro, DE. This large home offers plenty of room to grow, with classic farmhouse charm and ample living space. The property also includes two outbuildings, a shed, and a single-wide trailer. Please note, the current owner will retain lifetime rights to the trailer and garage. This unique property is perfect for those looking for a rural setting with room for hobbies and storage and has the potential to be subdivided.

Key facts

• Room for hobbies
• Farmhouse charm
• Two outbuildings

Tags

• FARMHOUSE CHARM
• TWO OUTBUILDINGS
• RURAL SETTING
• ROOM FOR HOBBIES
• POTENTIAL TO BE SUBDIVIDED

What this means for you Summary

Snapshot

• This is a 7-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $200k).
• Recommended offer: $176k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#387 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D, amenities F, commute F.
• Indian River School District (rural): math 25% / reading 41% proficiency, ranked #14 of 26 in DE (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Solid renter incomes; 4,354 units permitted in Sussex County in 2024 (344 in 5+ unit buildings).
• This rent runs 41% of the median local income ($78k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Sussex County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($176k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $175,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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 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?
6. 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.
7. 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.
8. 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: 1.34% ✓
• Cap rate: 11.90%
• Cash-on-cash: 20.04%
• DSCR: 1.89
• GRM: 6.2

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: 12.2%
• Equity multiple: 1.48×
• Total profit: $27,078
• Equity at exit: $29,821

10-year hold

• IRR: 21.1%
• Equity multiple: 2.79×
• Total profit: $99,961
• Equity at exit: $17,292

Cash invested: $56,000 (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 19966

• Home prices YoY: -6.4%
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,689 medium
• Mortgage (P&I): −$1,049
• Tax from tax record: −$57 /mo · $686/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $935

Break-even live

Break-even rent $1,505

Max offer price $199,999

Occupancy floor 60%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-03-01
   status Active 514-char remark

   Show marketing remark (514 chars)

   Spacious 7-bedroom, 1-bathroom farmhouse situated on just over 2 acres in the quiet town of Gumboro, DE. This large home offers plenty of room to grow, with classic farmhouse charm and ample living space. The property also includes two outbuildings, a shed, and a single-wide trailer. Please note, the current owner will retain lifetime rights to the trailer and garage. This unique property is perfect for those looking for a rural setting with room for hobbies and storage and has the potential to be subdivided.

2. 2026-02-28
   historical 514-char remark

   Show marketing remark (514 chars)

   Spacious 7-bedroom, 1-bathroom farmhouse situated on just over 2 acres in the quiet town of Gumboro, DE. This large home offers plenty of room to grow, with classic farmhouse charm and ample living space. The property also includes two outbuildings, a shed, and a single-wide trailer. Please note, the current owner will retain lifetime rights to the trailer and garage. This unique property is perfect for those looking for a rural setting with room for hobbies and storage and has the potential to be subdivided.

3. 2026-02-18
   price $199,999 514-char remark

   Show marketing remark (514 chars)

   Spacious 7-bedroom, 1-bathroom farmhouse situated on just over 2 acres in the quiet town of Gumboro, DE. This large home offers plenty of room to grow, with classic farmhouse charm and ample living space. The property also includes two outbuildings, a shed, and a single-wide trailer. Please note, the current owner will retain lifetime rights to the trailer and garage. This unique property is perfect for those looking for a rural setting with room for hobbies and storage and has the potential to be subdivided.

4. 2025-08-21
   listed $225,000 Active 514-char remark

   Show marketing remark (514 chars)

   Spacious 7-bedroom, 1-bathroom farmhouse situated on just over 2 acres in the quiet town of Gumboro, DE. This large home offers plenty of room to grow, with classic farmhouse charm and ample living space. The property also includes two outbuildings, a shed, and a single-wide trailer. Please note, the current owner will retain lifetime rights to the trailer and garage. This unique property is perfect for those looking for a rural setting with room for hobbies and storage and has the potential to be subdivided.

ⓘ 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: $686 · $57/mo
• Projected year-2 tax: $1,433 · $119/mo
• Expected delta: +$747/yr (+$62/mo · 108.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $32,271
• − Mortgage interest: −$11,203
• − Property taxes: −$686
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,582
• − Management: −$2,582
• − Depreciation: −$5,818
• Taxable income: $8,401
• Est. tax owed @ 24.0%: −$2,016
• After-tax cash flow: $9,206/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: Indian River School District
• NCES district ID: 1000680
• Math proficiency: 25% ▼ -27.00%
• Reading proficiency: 41% ▼ -17.00%
• Median HH income: $53,838
• Composite: 28.99/100
• National rank: #6620
• State rank: #14 of 26 in DE

Livability — Willards

• Score: 58/100
• State rank: #387
• US rank: #21084

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Sussex County · 82,708 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 35,884
• Household income: $78,305
• Rent vs Own: 17.8% rent · 82.2% own
• Severe rent burden: 464.0

Population outlook (Sussex County) Hauer SSP2

• Today (2025): 248,853 people
• By 2030: 264,464 · +6.3%
• By 2040: 290,980 · +16.9%
• By 2050: 311,259 · +25.1%
• By 2075: 352,488 · +41.6%
• By 2100: 367,406 · +47.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 11% Black 8% Two or more races 7% Native American 3% Asian 1%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 4% Slovak 2% Serbian 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 9% Other Indo-European 1%

Political lean MEDSL · Sussex

• 2024 margin: R (+11.0) · D 43.9% · R 54.9% · Other 1.2%
• 2008→2024 swing: -2.4pp toward R · 2008: -8.6pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+11.2 2016: R+22.0 2012: R+13.0 2008: R+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.26%
• Current HPI: 268.5609
• 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

-11.1% since first listed

4 events — show timeline

• 2026-03-01 Relisted — BRIGHT MLS
• 2026-02-28 Listing Removed — BRIGHT MLS
• 2026-02-18 Price Changed $199,999 BRIGHT MLS
• 2025-08-21 Listed $225,000 BRIGHT MLS

Property tax history

+3.2%/yr

Latest (2025): $686 · +17.5% YoY. Source: county tax records.