205 W High St W · Sharpsburg, MD 21782

$159,995

3 bd · 1.0 ba · 1,323 sqft · Manufactured public records · 120 Days on market

Built 1975 0.27 ac lot

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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 +8.0/10.0
• ARV discount +7.5/15.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 1-bath home at 205 W High St, Sharpsburg, MD offers immediate income with tenants paying $1,062.50/month. Built in 1975 with approximately 1,323 sq ft, the property features a functional layout with combined kitchen and dining, included appliances, aluminum siding, and off-street parking on a 0.27-acre lot. No HOA. Financing Note: Home is pre-1976, so financing options may be limited. Ideal for cash or conventional portfolio investors. Strong rental potential with existing cash flow.

Key facts

• 0.27-acre lot
• Functional layout
• Included appliances

Tags

• FUNCTIONAL LAYOUT
• COMBINED KITCHEN AND DINING
• INCLUDED APPLIANCES
• ALUMINUM SIDING
• OFF-STREET PARKING
• 0.27-ACRE LOT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $668 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $146k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 57/100 on livability (#395 in MD) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A, employment B+; Watch: schools D-, crime F, amenities F.
• Washingtion County Public Schools (suburban): math 18% / reading 33% proficiency, ranked #13 of 24 in MD (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 25 active listings in the ZIP; 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 19y ago; this cycle's ask has dropped $40k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $38k; list at $160k implies a 327% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,595 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 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 1975 — 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. 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: 1.30% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.90%
• DSCR: 1.80
• GRM: 6.4

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: 9.4%
• Equity multiple: 1.37×
• Total profit: $16,581
• Equity at exit: $23,856

10-year hold

• IRR: 18.5%
• Equity multiple: 2.54×
• Total profit: $69,030
• Equity at exit: $13,833

Cash invested: $44,799 (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 21782

• Home prices YoY: -9.3%
• Active inventory: 25
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $2,075 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$66 /mo · $789/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $668

Break-even live

Break-even rent $1,230

Max offer price $159,995

Occupancy floor 63%

Sensitivity live

Price	-10% $759	-5% $713	+0% $668	+5% $623	+10% $578
Rent	-10% $504	-5% $586	+0% $668	+5% $750	+10% $832
Rate	-1.0pp $749	-0.5pp $709	base $668	+0.5pp $627	+1.0pp $585

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: $39,999
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $159,995 Active 120 DOM
2. 2026-06-17
   days on market $159,995 Active 119 DOM
3. 2026-06-16
   days on market $159,995 Active 118 DOM
4. 2026-06-15
   days on market $159,995 Active 117 DOM
5. 2026-06-14
   days on market $159,995 Active 115 DOM
6. 2026-06-13
   days on market $159,995 Active 114 DOM
7. 2026-06-10
   days on market $159,995 Active 112 DOM
8. 2026-06-09
   days on market $159,995 Active 111 DOM
9. 2026-06-08
   days on market $159,995 Active 110 DOM
10. 2026-06-07
    days on market $159,995 Active 109 DOM
11. 2026-06-03
    days on market $159,995 Active 105 DOM
12. 2026-06-02
    days on market $159,995 Active 104 DOM
13. 2026-06-01
    days on market $159,995 Active 103 DOM
14. 2026-05-31
    days on market $159,995 Active 102 DOM
15. 2026-05-30
    days on market $159,995 Active 101 DOM
16. 2026-03-13
    price $159,995 504-char remark

    Show marketing remark (504 chars)

    This 3-bedroom, 1-bath home at 205 W High St, Sharpsburg, MD offers immediate income with tenants paying $1,062.50/month. Built in 1975 with approximately 1,323 sq ft, the property features a functional layout with combined kitchen and dining, included appliances, aluminum siding, and off-street parking on a 0.27-acre lot. No HOA. Financing Note: Home is pre-1976, so financing options may be limited. Ideal for cash or conventional portfolio investors. Strong rental potential with existing cash flow.

17. 2026-02-18
    listed $199,995 Active 504-char remark

    Show marketing remark (504 chars)

    This 3-bedroom, 1-bath home at 205 W High St, Sharpsburg, MD offers immediate income with tenants paying $1,062.50/month. Built in 1975 with approximately 1,323 sq ft, the property features a functional layout with combined kitchen and dining, included appliances, aluminum siding, and off-street parking on a 0.27-acre lot. No HOA. Financing Note: Home is pre-1976, so financing options may be limited. Ideal for cash or conventional portfolio investors. Strong rental potential with existing cash flow.

18. 2019-12-10
    soldstatus $37,500
19. 2017-06-08
    historical Withdrawn
20. 2017-06-08
    historical
21. 2017-01-31
    listed Active
22. 2017-01-31
    listed $79,900
23. 2007-11-30
    soldstatus $83,000
24. 2007-11-28
    soldstatus $83,000
25. 2007-10-09
    historical
26. 2007-07-14
    listed $129,900
27. 2007-07-02
    historical
28. 2007-03-30
    listed
29. 1984-08-10
    soldstatus $26,000

ⓘ 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: $789 · $66/mo
• Projected year-2 tax: $1,266 · $106/mo
• Expected delta: +$478/yr (+$40/mo · 60.6%)

ⓘ 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 5/10 Major 7 d/yr ≥102°F today · 16 d/yr by 30 yrs out
• 💨 Wind 3/10 Moderate 4% 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: $24,906
• − Mortgage interest: −$8,962
• − Property taxes: −$789
• − Insurance: −$800
• − Repairs & maintenance: −$1,992
• − Management: −$1,992
• − Depreciation: −$4,654
• Taxable income: $5,715
• Est. tax owed @ 24.0%: −$1,372
• After-tax cash flow: $6,647/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: Washingtion County Public Schools
• NCES district ID: 2400660
• Math proficiency: 18% ▼ -20.00%
• Reading proficiency: 33% ▼ -17.00%
• Median HH income: $54,784
• Composite: 22.87/100
• National rank: #8007
• State rank: #13 of 24 in MD

Livability — Sharpsburg

• Score: 57/100
• State rank: #395
• US rank: #21662

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sharpsburg, MD
• Population (ZIP): 4,056

Population outlook (Washington County) Hauer SSP2

• Today (2025): 151,614 people
• By 2030: 151,455 · -0.1%
• By 2040: 150,097 · -1.0%
• By 2050: 148,193 · -2.3%
• By 2075: 146,581 · -3.3%
• By 2100: 138,025 · -9.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2%
• Common ancestry: Italian 7% Slovak 5% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 99% English-only · Spanish 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+23.0) · D 37.3% · R 60.4% · Other 2.3%
• 2008→2024 swing: -10.2pp toward R · 2008: -12.9pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+20.9 2016: R+32.4 2012: R+18.5 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -28.45%
• Current HPI: 278.6603
• 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

+515.4% since first listed

14 events — show timeline

• 2026-03-13 Price Changed $159,995 BRIGHT MLS
• 2026-02-18 Listed $199,995 BRIGHT MLS
• 2019-12-10 Sold (Public Records) $37,500 Public Records
• 2017-06-08 Listing Removed — BRIGHT MLS
• 2017-06-08 Delisted — MRIS
• 2017-01-31 Listed — MRIS
• 2017-01-31 Listed $79,900 BRIGHT MLS
• 2007-11-30 Sold (Public Records) $83,000 Public Records
• 2007-11-28 Sold (MLS) $83,000 MRIS
• 2007-10-09 Delisted — MRIS
• 2007-07-14 Listed $129,900 MRIS
• 2007-07-02 Delisted — MRIS
• 2007-03-30 Listed — MRIS
• 1984-08-10 Sold (Public Records) $26,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $789 · +5.7% YoY. Source: county tax records.