389 Seahawk Ln · Ocean Pines, MD 21811

$160,000

2 bd · 1.0 ba · 627 sqft · Manufactured public records · 76 Days on market

Built 1989 2,369 sqft lot $255/sqft · 8% below area Est $173k · 8% under $176/mo HOA · 9% of rent

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Why this score? — see what drove the C+ 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 +24.9/30.0
• ARV discount +10.9/15.0
• DSCR +8.1/10.0
• 1% rule +7.0/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

OPEN SAT 05/09, 1:30-3:30!! MUST CHECK IN AT FRONT OFFICE RO ENTER THE PARK FOR OPEN HOUSE. ARE YOU KIDDING ME!! CHECK OUT THIS UNBELIEVABLE DEAL!! REDUCED!! Welcome to your perfect beach getaway in the amenity-packed community of White Horse Park! This well-maintained 2-bedroom, 1-bath home is located just 12 minutes from the beach and offers the rare opportunity to own both the home and the land—no ground rent. Sold fully furnished and turn-key, this property is ready for immediate enjoyment or rental potential. Relax on the spacious covered outdoor deck, perfect for entertaining or unwinding after a day at the beach. A large storage shed provides ample space for all your beach gear and tools. The home has been t updated with replacement windows and a durable metal roof, offering peace of mind for years to come. Equipped with central air and heat, comfort is ensured in every season. Conveniently located just behind the home, the community bathhouse and laundry facility offer additional bathrooms, showers, and full-sized washers and dryers—ideal for hosting guests. White Horse Park offers an impressive list of amenities, including a community pool, playground, basketball court, and a marina featuring a boat ramp, boat slips, jet ski slips, and secure boat storage—all within a gated community with private security. Gas firepits and golf carts are also permitted! Just minutes from the beaches of Ocean City, Ocean Downs Casino, Assateague Island, the Ocean City Boardwalk, plus endless shopping and dining options, this home truly offers the best value at the beach. Don’t miss your chance to own an affordable coastal retreat—schedule your private showing today and be in just in time for the 2026 season!

Key facts

• 2,369 sq ft lot
• 2 parking spots
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $160k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/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: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 3.3% in Ocean Pines — 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 70/100 on livability (#172 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools D, cost of living D, amenities F.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 315 active listings in the ZIP; solid renter incomes; 354 units permitted in Worcester County in 2024 (6 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.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 21y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $130k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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?
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: 1.20% ✓
• Cap rate: 8.89%
• Cash-on-cash: 9.26%
• DSCR: 1.41
• GRM: 6.9

CMA / ARV

• ARV (median comp): $173,087
• List price: $160,000
• Delta: -7.56%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-8,035
• Equity at exit: $23,857

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $16,346
• Equity at exit: $13,834

Cash invested: $44,800 (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 21811

• Home prices YoY: -29.0%
• Active inventory: 315
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,919 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$67
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$176
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $279

Break-even live

Break-even rent $1,566

Max offer price $160,000

Occupancy floor 80%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $176 · $2,112/yr
• Likely covers: gaspoolsecurity

Listing history 22 events

1. 2026-06-18
   days on market $160,000 Active 76 DOM
2. 2026-06-17
   days on market $160,000 Active 75 DOM
3. 2026-06-16
   days on market $160,000 Active 74 DOM
4. 2026-06-15
   days on market $160,000 Active 73 DOM
5. 2026-06-14
   days on market $160,000 Active 71 DOM
6. 2026-06-13
   days on market $160,000 Active 70 DOM
7. 2026-06-10
   days on market $160,000 Active 68 DOM
8. 2026-06-09
   days on market $160,000 Active 67 DOM
9. 2026-06-08
   days on market $160,000 Active 66 DOM
10. 2026-06-07
    days on market $160,000 Active 65 DOM
11. 2026-06-02
    days on market $160,000 Active 60 DOM
12. 2026-06-01
    days on market $160,000 Active 59 DOM
13. 2026-05-31
    days on market $160,000 Active 58 DOM
14. 2026-05-30
    days on market $160,000 Active 57 DOM
15. 2026-04-24
    price $160,000 1759-char remark

    Show marketing remark (1759 chars)

    OPEN SAT 05/09, 1:30-3:30!! MUST CHECK IN AT FRONT OFFICE RO ENTER THE PARK FOR OPEN HOUSE. ARE YOU KIDDING ME!! CHECK OUT THIS UNBELIEVABLE DEAL!! REDUCED!! Welcome to your perfect beach getaway in the amenity-packed community of White Horse Park! This well-maintained 2-bedroom, 1-bath home is located just 12 minutes from the beach and offers the rare opportunity to own both the home and the land—no ground rent. Sold fully furnished and turn-key, this property is ready for immediate enjoyment or rental potential. Relax on the spacious covered outdoor deck, perfect for entertaining or unwinding after a day at the beach. A large storage shed provides ample space for all your beach gear and tools. The home has been t updated with replacement windows and a durable metal roof, offering peace of mind for years to come. Equipped with central air and heat, comfort is ensured in every season. Conveniently located just behind the home, the community bathhouse and laundry facility offer additional bathrooms, showers, and full-sized washers and dryers—ideal for hosting guests. White Horse Park offers an impressive list of amenities, including a community pool, playground, basketball court, and a marina featuring a boat ramp, boat slips, jet ski slips, and secure boat storage—all within a gated community with private security. Gas firepits and golf carts are also permitted! Just minutes from the beaches of Ocean City, Ocean Downs Casino, Assateague Island, the Ocean City Boardwalk, plus endless shopping and dining options, this home truly offers the best value at the beach. Don’t miss your chance to own an affordable coastal retreat—schedule your private showing today and be in just in time for the 2026 season!

16. 2026-04-04
    listed $170,000 Active 1759-char remark

    Show marketing remark (1759 chars)

    OPEN SAT 05/09, 1:30-3:30!! MUST CHECK IN AT FRONT OFFICE RO ENTER THE PARK FOR OPEN HOUSE. ARE YOU KIDDING ME!! CHECK OUT THIS UNBELIEVABLE DEAL!! REDUCED!! Welcome to your perfect beach getaway in the amenity-packed community of White Horse Park! This well-maintained 2-bedroom, 1-bath home is located just 12 minutes from the beach and offers the rare opportunity to own both the home and the land—no ground rent. Sold fully furnished and turn-key, this property is ready for immediate enjoyment or rental potential. Relax on the spacious covered outdoor deck, perfect for entertaining or unwinding after a day at the beach. A large storage shed provides ample space for all your beach gear and tools. The home has been t updated with replacement windows and a durable metal roof, offering peace of mind for years to come. Equipped with central air and heat, comfort is ensured in every season. Conveniently located just behind the home, the community bathhouse and laundry facility offer additional bathrooms, showers, and full-sized washers and dryers—ideal for hosting guests. White Horse Park offers an impressive list of amenities, including a community pool, playground, basketball court, and a marina featuring a boat ramp, boat slips, jet ski slips, and secure boat storage—all within a gated community with private security. Gas firepits and golf carts are also permitted! Just minutes from the beaches of Ocean City, Ocean Downs Casino, Assateague Island, the Ocean City Boardwalk, plus endless shopping and dining options, this home truly offers the best value at the beach. Don’t miss your chance to own an affordable coastal retreat—schedule your private showing today and be in just in time for the 2026 season!

17. 2026-04-03
    historical $170,000 1759-char remark

    Show marketing remark (1759 chars)

    OPEN SAT 05/09, 1:30-3:30!! MUST CHECK IN AT FRONT OFFICE RO ENTER THE PARK FOR OPEN HOUSE. ARE YOU KIDDING ME!! CHECK OUT THIS UNBELIEVABLE DEAL!! REDUCED!! Welcome to your perfect beach getaway in the amenity-packed community of White Horse Park! This well-maintained 2-bedroom, 1-bath home is located just 12 minutes from the beach and offers the rare opportunity to own both the home and the land—no ground rent. Sold fully furnished and turn-key, this property is ready for immediate enjoyment or rental potential. Relax on the spacious covered outdoor deck, perfect for entertaining or unwinding after a day at the beach. A large storage shed provides ample space for all your beach gear and tools. The home has been t updated with replacement windows and a durable metal roof, offering peace of mind for years to come. Equipped with central air and heat, comfort is ensured in every season. Conveniently located just behind the home, the community bathhouse and laundry facility offer additional bathrooms, showers, and full-sized washers and dryers—ideal for hosting guests. White Horse Park offers an impressive list of amenities, including a community pool, playground, basketball court, and a marina featuring a boat ramp, boat slips, jet ski slips, and secure boat storage—all within a gated community with private security. Gas firepits and golf carts are also permitted! Just minutes from the beaches of Ocean City, Ocean Downs Casino, Assateague Island, the Ocean City Boardwalk, plus endless shopping and dining options, this home truly offers the best value at the beach. Don’t miss your chance to own an affordable coastal retreat—schedule your private showing today and be in just in time for the 2026 season!

18. 2005-05-27
    soldstatus $130,000
19. 2005-05-21
    soldstatus $130,000 135-char remark

    Show marketing remark (135 chars)

    Own home and lot. Quiet vacation retreat, tucked away from the hustle bustle. Only a few miles to Ocean City. Near laundry and showers.

20. 2005-04-29
    historical 135-char remark

    Show marketing remark (135 chars)

    Own home and lot. Quiet vacation retreat, tucked away from the hustle bustle. Only a few miles to Ocean City. Near laundry and showers.

21. 2005-04-20
    listed $133,500 135-char remark

    Show marketing remark (135 chars)

    Own home and lot. Quiet vacation retreat, tucked away from the hustle bustle. Only a few miles to Ocean City. Near laundry and showers.

22. 1989-05-22
    soldstatus $40,940

ⓘ 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: $1,066 · $89/mo
• Projected year-2 tax: $1,405 · $117/mo
• Expected delta: +$339/yr (+$28/mo · 31.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 93% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,031
• − Mortgage interest: −$8,962
• − Property taxes: −$1,066
• − Insurance: −$1,598
• − Repairs & maintenance: −$1,843
• − Management: −$1,843
• − HOA: −$2,112
• − Depreciation: −$4,655
• Taxable income: $954
• Est. tax owed @ 24.0%: −$229
• After-tax cash flow: $3,121/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: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

Livability — Ocean Pines

• Score: 70/100
• State rank: #172
• US rank: #7691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean Pines, MD
• County: Worcester County · 35,603 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 24,377
• Household income: $90,082
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 551.0

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 9% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.52%
• Current HPI: 292.9004
• 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

+290.8% since first listed

8 events — show timeline

• 2026-04-24 Price Changed $160,000 BRIGHT MLS
• 2026-04-04 Listed $170,000 BRIGHT MLS
• 2026-04-03 Coming Soon $170,000 BRIGHT MLS
• 2005-05-27 Sold (Public Records) $130,000 Public Records
• 2005-05-21 Sold (MLS) $130,000 BRIGHT MLS
• 2005-04-29 Listing Removed — BRIGHT MLS
• 2005-04-20 Listed $133,500 BRIGHT MLS
• 1989-05-22 Sold (Public Records) $40,940 Public Records

Property tax history

+0.5%/yr

Latest (2025): $1,066 · +10.2% YoY. Source: county tax records.