2520 Boeing Way · Cambridge, MD 21613

$245,000

3 bd · 2.5 ba · 1,911 sqft · Townhouse public records · 84 Days on market

Built 2022 2,080 sqft lot $128/sqft · 7% below area Est $263k · 7% under $50/mo HOA · 2% of rent ↓ 4% since listing

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Why this score? — see what drove the D- 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 +10.7/30.0
• ARV discount +10.6/15.0
• 1% rule +3.6/10.0
• Livability +3.2/5.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully three-story townhome offering space, comfort, and convenience. This home features 3 bedrooms and 2.5 bathrooms, along with a finished ground level that provides flexible space for a family room, office, or recreation area, plus an attached garage. The spacious eat-in kitchen includes a center island, perfect for casual dining, entertaining, or everyday living. Upstairs, the primary suite offers a private retreat with an en-suite bathroom and a generous walk-in closet. Ideally located near shopping, dining, and everyday conveniences, with quick access to Route 50, making commuting and travel a breeze.

Key facts

• $50 HOA
• Garage
• Built 2022

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $245k.

Deal economics

• At list price, monthly cash flow is $-117 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (8.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $210k (14.5% below list).
• Recommended offer: $210k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.2% in Cambridge — 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 65/100 on livability (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 292 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 84 days — a 6% lower offer ($230k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% 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 $209,573 (14.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
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 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. 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?
8. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.86% ✗
• Cap rate: 5.72%
• Cash-on-cash: -2.05%
• DSCR: 0.91
• GRM: 9.7

CMA / ARV

• ARV (median comp): $263,234
• List price: $245,000
• Delta: -6.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2488 Westwind Blvd Unit TH	0.07mi	3/2.5	1,825 (-4%)	3mo	$244,000	$134	87
2518 Boeing Way	0.00mi	3/2.5	1,911 (0%)	23mo	$268,000	$140	81
2532 Boeing Way	0.03mi	3/3.0	1,860 (-3%)	20mo	$268,990	$145	76
2530 Boeing Way	0.03mi	3/3.0	1,850 (-3%)	20mo	$269,990	$146	75
1533 Global Cir	0.07mi	3/2.5	1,730 (-10%)	12mo	$232,000	$134	71
301 Old Squaw Ct	0.64mi	3/2.5	1,960 (+3%)	4mo	$227,000	$116	63

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

Projected returns pro-forma

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

5-year hold

• IRR: -19.7%
• Equity multiple: 0.31×
• Total profit: $-47,092
• Equity at exit: $36,530

10-year hold

• IRR: -12.4%
• Equity multiple: 0.27×
• Total profit: $-50,301
• Equity at exit: $21,183

Cash invested: $68,600 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 292
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $2,096 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$336 /mo · $4,033/yr
• Insurance: −$102
• HOA: −$50
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $-117

Break-even live

Break-even rent $2,244

Max offer price $224,275

Occupancy floor —

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2504 Boeing Way Cambridge, MD	3.0	2.5	1922	$2,199	$1.14	43d	1	0.06mi
2509 Boeing Way Cambridge, MD	3.0	2.5	1780	$1,965	$1.10	43d	1	0.06mi
2505 Boeing Way Cambridge, MD	3.0	2.5	1557	$2,199	$1.41	43d	1	0.07mi
2484 Westwind Blvd Unit TH Cambridge, MD	3.0	2.5	1826	$2,100	$1.15	43d	1	0.09mi
1507 Race St Cambridge, MD	3.0	1.0	1260	$1,695	$1.35	43d	1	0.69mi
318 E Appleby Ave Cambridge, MD	3.0	2.5	1536	$2,100	$1.37	43d	1	0.95mi
406 Robbins St Cambridge, MD	3.0	2.0	1296	$1,800	$1.39	43d	1	1.26mi
804 Allen St Cambridge, MD	4.0	2.0	1326	$1,800	$1.36	43d	1	1.36mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 19 events

1. 2026-06-18
   days on market $245,000 Active 84 DOM
2. 2026-06-17
   days on market $245,000 Active 83 DOM
3. 2026-06-16
   days on market $245,000 Active 82 DOM
4. 2026-06-15
   days on market $245,000 Active 81 DOM
5. 2026-06-13
   days on market $245,000 Active 79 DOM
6. 2026-06-12
   days on market $245,000 Active 78 DOM
7. 2026-06-09
   days on market $245,000 Active 75 DOM
8. 2026-06-08
   days on market $245,000 Active 74 DOM
9. 2026-06-07
   days on market $245,000 Active 73 DOM
10. 2026-06-07
    days on market $245,000 Active 72 DOM
11. 2026-06-04
    days on market $245,000 Active 69 DOM
12. 2026-06-02
    days on market $245,000 Active 68 DOM
13. 2026-06-01
    days on market $245,000 Active 67 DOM
14. 2026-05-31
    days on market $245,000 Active 66 DOM
15. 2026-05-31
    days on market $245,000 Active 65 DOM
16. 2026-04-20
    price $250,000 619-char remark

    Show marketing remark (619 chars)

    Beautifully three-story townhome offering space, comfort, and convenience. This home features 3 bedrooms and 2.5 bathrooms, along with a finished ground level that provides flexible space for a family room, office, or recreation area, plus an attached garage. The spacious eat-in kitchen includes a center island, perfect for casual dining, entertaining, or everyday living. Upstairs, the primary suite offers a private retreat with an en-suite bathroom and a generous walk-in closet. Ideally located near shopping, dining, and everyday conveniences, with quick access to Route 50, making commuting and travel a breeze.

17. 2026-04-13
    price $255,000 619-char remark

    Show marketing remark (619 chars)

    Beautifully three-story townhome offering space, comfort, and convenience. This home features 3 bedrooms and 2.5 bathrooms, along with a finished ground level that provides flexible space for a family room, office, or recreation area, plus an attached garage. The spacious eat-in kitchen includes a center island, perfect for casual dining, entertaining, or everyday living. Upstairs, the primary suite offers a private retreat with an en-suite bathroom and a generous walk-in closet. Ideally located near shopping, dining, and everyday conveniences, with quick access to Route 50, making commuting and travel a breeze.

18. 2026-03-27
    listed $260,000 Active 619-char remark

    Show marketing remark (619 chars)

    Beautifully three-story townhome offering space, comfort, and convenience. This home features 3 bedrooms and 2.5 bathrooms, along with a finished ground level that provides flexible space for a family room, office, or recreation area, plus an attached garage. The spacious eat-in kitchen includes a center island, perfect for casual dining, entertaining, or everyday living. Upstairs, the primary suite offers a private retreat with an en-suite bathroom and a generous walk-in closet. Ideally located near shopping, dining, and everyday conveniences, with quick access to Route 50, making commuting and travel a breeze.

19. 2026-03-06
    historical $260,000 619-char remark

    Show marketing remark (619 chars)

    Beautifully three-story townhome offering space, comfort, and convenience. This home features 3 bedrooms and 2.5 bathrooms, along with a finished ground level that provides flexible space for a family room, office, or recreation area, plus an attached garage. The spacious eat-in kitchen includes a center island, perfect for casual dining, entertaining, or everyday living. Upstairs, the primary suite offers a private retreat with an en-suite bathroom and a generous walk-in closet. Ideally located near shopping, dining, and everyday conveniences, with quick access to Route 50, making commuting and travel a breeze.

ⓘ 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: $4,033 · $336/mo
• Projected year-2 tax: $4,033 · $336/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 9/10 Extreme 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% 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: $25,149
• − Mortgage interest: −$13,724
• − Property taxes: −$4,033
• − Insurance: −$1,225
• − Repairs & maintenance: −$2,012
• − Management: −$2,012
• − HOA: −$600
• − Depreciation: −$7,127
• Taxable loss: −$5,584
• Est. tax savings @ 24.0%: +$1,340
• After-tax cash flow: $-68/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• 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

-3.8% since first listed

4 events — show timeline

• 2026-04-20 Price Changed $250,000 BRIGHT MLS
• 2026-04-13 Price Changed $255,000 BRIGHT MLS
• 2026-03-27 Listed $260,000 BRIGHT MLS
• 2026-03-06 Coming Soon $260,000 BRIGHT MLS

Property tax history

+26.3%/yr

Latest (2025): $4,033 · +2.0% YoY. Source: county tax records.