419 Somerset Ave · Salisbury, MD 21801

$229,900

3 bd · 1.0 ba · 1,618 sqft · SingleFamily public records · 8 Days on market

Built 1956 10,050 sqft lot $142/sqft · 26% below area Est $311k · 26% under

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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 +16.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.2/10.0
• Rent growth +4.3/5.0
• 1% rule +3.5/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

SHOW & SELL

Key facts

• Screened in porch
• Plenty of storage
• Exceptional lighting

Tags

• HARDWOOD FLOORS
• EXCEPTIONAL LIGHTING
• PARTIALLY FINISHED BASEMENT
• LARGE UTILITY WASH ROOMS
• SCREENED IN PORCH
• PLENTY OF STORAGE

Property features AI

Exterior

• Parking: Driveway; On-street parking
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached property; Fee simple ownership
• Construction: Block foundation
• Exterior features: Not in a federal flood zone; Tidal water: No

Interior

• Kitchen: Electric range/oven; Refrigerator; Dishwasher not specified
• Bedrooms: Two bedrooms on the main level; One bedroom on the upper level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Forced air heating (electric); Window air conditioning units (electric)
• Interior features: Partially finished basement; Washer and electric dryer included; Oven/Range (electric) included; Refrigerator included
• Laundry & utility: Washer; Electric dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $149 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (14.9% below list).
• Recommended offer: $196k (14.9% below list) — sets the bar for 1% rule.
• Cap rate 7.1% vs local median 4.8% in Salisbury — 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 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.2%/yr); 190 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).
• This rent runs 33% of the median local income ($71k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 30y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $195,546 (14.9% below list)

Questions for the listing agent

1. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.85% ✗
• Cap rate: 7.07%
• Cash-on-cash: 2.78%
• DSCR: 1.12
• GRM: 9.8

CMA / ARV

• ARV (median comp): $310,828
• List price: $229,900
• Delta: -26.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
426 Pinehurst Ave	0.08mi	3/2.0	1,692 (+5%)	1mo	$325,000	$192	84
412 Somerset Ave	0.04mi	3/1.0	1,454 (-10%)	2mo	$280,000	$193	79
414 Monticello Ave	0.19mi	3/1.5	1,550 (-4%)	6mo	$285,000	$184	77
232 North Blvd	0.47mi	3/1.5	1,594 (-2%)	5mo	$210,000	$132	69
1001 Riverside Dr	0.33mi	3/2.0	1,552 (-4%)	6mo	$225,000	$145	69
421 Loblolly Ln	0.25mi	3/2.0	1,514 (-6%)	8mo	$291,000	$192	67
608 Manor Dr	0.40mi	3/2.0	1,538 (-5%)	4mo	$320,000	$208	66
301 North Blvd	0.48mi	3/1.5	1,568 (-3%)	8mo	$240,000	$153	64
303 Powell Ave	0.25mi	3/2.5	1,800 (+11%)	8mo	$415,000	$231	57
431 Monticello Ave	0.23mi	4/1.5 (+1)	1,420 (-12%)	7mo	$245,000	$173	56
223 North Blvd	0.51mi	4/1.5 (+1)	1,460 (-10%)	1mo	$215,000	$147	52
308 Ohio Ave	0.57mi	3/1.0	1,400 (-14%)	0mo	$200,000	$143	51

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 · 7.21% rent growth · sell at horizon

5-year hold

• IRR: -7.8%
• Equity multiple: 0.70×
• Total profit: $-19,214
• Equity at exit: $34,279

10-year hold

• IRR: 6.0%
• Equity multiple: 1.52×
• Total profit: $33,781
• Equity at exit: $19,878

Cash invested: $64,372 (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 21801

• Home prices YoY: -30.6%
• Rents YoY: 7.2%
• Active inventory: 190
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,955 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$94 /mo · $1,132/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $149

Break-even live

Break-even rent $1,767

Max offer price $229,900

Occupancy floor 87%

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 Loblolly Ln Salisbury, MD	3.0	2.0	1514	$2,250	$1.49	43d	1	0.24mi
518 Alabama Ave Salisbury, MD	1.0–3.0	1.0–2.5	1028	$1,784	$1.73	13d	14	0.55mi
550 Riverside Dr Salisbury, MD	3.0	2.0	1250	$1,975	$1.58	43d	1	0.75mi
101 Cedar Xing Salisbury, MD	4.0	2.0–4.0	965	$1,375	$1.42	13d	9	0.85mi
306 Carrollton Ave Salisbury, MD	4.0	1.0	1163	$1,700	$1.46	43d	1	0.88mi
218 W Main St Unit 401 Salisbury, MD	2.0	1.0	1060	$1,695	$1.60	43d	1	1.06mi
255 Canal Park Dr Apt C Salisbury, MD	4.0	2.0	1250	$1,600	$1.28	43d	1	1.06mi
1120 Wintermead Loop Salisbury, MD	4.0	2.5	1968	$2,500	$1.27	21d	1	1.24mi
719 Shiloh St Unit 1 Salisbury, MD	3.0	1.0	1152	$1,625	$1.41	13d	1	1.25mi
801 W Main St Fruitland, MD	4.0	1.0	1232	$1,700	$1.38	43d	1	1.48mi

Listing history 6 events

1. 2026-05-09
   status Pending 804-char remark
2. 2026-05-01
   listed $229,900 Active 804-char remark
3. 1996-07-03
   soldstatus $76,300
4. 1996-06-28
   soldstatus $76,300 17-char remark

   Show marketing remark (17 chars)

   SHOW & SELL

5. 1996-05-05
   listed $76,500 17-char remark

   Show marketing remark (17 chars)

   SHOW & SELL

6. 1992-04-23
   soldstatus $48,000

ⓘ 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: $1,132 · $94/mo
• Projected year-2 tax: $1,819 · $152/mo
• Expected delta: +$687/yr (+$57/mo · 60.7%)

ⓘ 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 ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,466
• − Mortgage interest: −$12,878
• − Property taxes: −$1,132
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,877
• − Management: −$1,877
• − Depreciation: −$6,688
• Taxable loss: −$2,136
• Est. tax savings @ 24.0%: +$513
• After-tax cash flow: $2,302/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: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Salisbury, MD
• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 30,088
• Household income: $71,313
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 964.0

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Black 33% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Hispanic 4% Romanian 2% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 4% French/Haitian/Cajun 3% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.55%
• Current HPI: 232.3103
• Rent YoY: ▲ 7.21%
• 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

+347.9% since first listed

7 events — show timeline

• 2026-06-02 Sold (Public Records) $215,000 Public Records
• 2026-05-09 Pending — BRIGHT MLS
• 2026-05-01 Listed $229,900 BRIGHT MLS
• 1996-07-03 Sold (Public Records) $76,300 Public Records
• 1996-06-28 Sold (MLS) $76,300 BRIGHT MLS
• 1996-05-05 Listed $76,500 BRIGHT MLS
• 1992-04-23 Sold (Public Records) $48,000 Public Records

Property tax history

-2.2%/yr

Latest (2025): $1,132 · +1.5% YoY. Source: county tax records.