236 Columbia St · Cumberland, MD 21502

$12,000

2 bd · 1.0 ba · 924 sqft · Other public records · 40 Days on market

Built 1900

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Private sale, not bank owned. Priced to move and sold as is where is. CASH ONLY OFFER CAN BE SENT TO MLSoffers@SPINCOMPANIES. COM . Buyer to do their own due diligence and verify property information.

Key facts

• Built 1900
• Listed 39 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $12k.

Deal economics

• At list price, monthly cash flow is $710 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $12k).
• Recommended offer: $12k (3.0% below list) — sets the bar for market timing.
• Cap rate 77.3% vs local median 6.7% in Cumberland — 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 78/100 on livability (#64 in MD, #2,385 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment F.
• Allegany County Public Schools (other): math 15% / reading 30% proficiency, ranked #18 of 24 in MD (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+10.9%/yr); 238 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $83 of loan paydown is wiped out by about $360 of value loss. Plan a longer hold.
• Allegany County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($12k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $11,640 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 8.28% ✓
• Cap rate: 77.34%
• Cash-on-cash: 253.74%
• DSCR: 12.29
• GRM: 1.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 15.45×
• Total profit: $48,565
• Equity at exit: $1,789

10-year hold

• IRR: —
• Equity multiple: 38.05×
• Total profit: $124,487
• Equity at exit: $1,038

Cash invested: $3,360 (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 21502

• Home prices YoY: -17.4%
• Rents YoY: 10.9%
• Active inventory: 238
• Price-to-rent: 1.0×

Monthly cashflow live

• Estimated rent: $993 medium
• Mortgage (P&I): −$63
• Tax from tax record: −$6 /mo · $75/yr
• Insurance: −$5
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $710

Break-even live

Break-even rent $94

Max offer price $12,000

Occupancy floor 23%

Sensitivity live

Price	-10% $717	-5% $714	+0% $710	+5% $707	+10% $704
Rent	-10% $632	-5% $671	+0% $710	+5% $750	+10% $789
Rate	-1.0pp $717	-0.5pp $714	base $710	+0.5pp $707	+1.0pp $704

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: $3,000
• Closing costs: $360
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
418 N Mechanic St Unit 1B Cumberland, MD	2.0	1.0	1000	$1,195	$1.20	45d	1	0.28mi
424 N Mechanic St Unit 1 Cumberland, MD	1.0	1.0	600	$950	$1.58	45d	1	0.29mi
529 N Centre St Unit Rear Cumberland, MD	2.0	1.0	982	$850	$0.87	45d	1	0.34mi
623 Columbia Ave Unit C Cumberland, MD	1.0	1.0	600	$635	$1.06	45d	1	0.42mi

Listing history 33 events

1. 2026-06-21
   days on market $12,000 Active 40 DOM
2. 2026-06-19
   days on market $12,000 Active 38 DOM
3. 2026-06-18
   days on market $12,000 Active 37 DOM
4. 2026-06-17
   days on market $12,000 Active 36 DOM
5. 2026-06-16
   days on market $12,000 Active 35 DOM
6. 2026-06-15
   days on market $12,000 Active 34 DOM
7. 2026-06-14
   days on market $12,000 Active 32 DOM
8. 2026-06-12
   days on market $12,000 Active 31 DOM
9. 2026-06-09
   days on market $12,000 Active 28 DOM
10. 2026-06-08
    days on market $12,000 Active 27 DOM
11. 2026-06-07
    days on market $12,000 Active 26 DOM
12. 2026-06-02
    days on market $12,000 Active 21 DOM
13. 2026-06-01
    days on market $12,000 Active 20 DOM
14. 2026-05-31
    days on market $12,000 Active 19 DOM
15. 2026-05-30
    days on market $12,000 Active 18 DOM
16. 2026-05-12
    listed $12,000 Active 200-char remark
17. 2020-02-02
    historical
18. 2020-01-22
    price $6,000
19. 2020-01-11
    price $7,000
20. 2019-12-12
    price $8,000
21. 2019-10-17
    price $9,000
22. 2019-08-05
    listed $14,900 Active
23. 2014-08-01
    historical
24. 2014-08-01
    historical
25. 2014-07-23
    price Active
26. 2014-07-23
    status Active
27. 2014-06-25
    status Contract
28. 2014-06-25
    price
29. 2014-05-16
    price
30. 2014-04-17
    price
31. 2014-03-16
    listed Active
32. 2014-03-16
    listed $8,900
33. 2006-08-03
    soldstatus $49,000

ⓘ 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: $75 · $6/mo
• Projected year-2 tax: $103 · $9/mo
• Expected delta: +$28/yr (+$2/mo · 37.0%)

ⓘ 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 5/10 Major 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,919
• − Mortgage interest: −$672
• − Property taxes: −$75
• − Insurance: −$60
• − Repairs & maintenance: −$954
• − Management: −$954
• − Depreciation: −$349
• Taxable income: $8,856
• Est. tax owed @ 24.0%: −$2,125
• After-tax cash flow: $6,400/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: Allegany County Public Schools
• NCES district ID: 2400030
• Math proficiency: 15% ▼ -26.00%
• Reading proficiency: 30% ▼ -20.00%
• Median HH income: $39,760
• Composite: 18.95/100
• National rank: #8854
• State rank: #18 of 24 in MD

Livability — Cumberland

• Score: 78/100
• State rank: #64
• US rank: #2385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cumberland, MD
• County: Allegany County · 41,015 people
• City population: 41,015
• Metro: Cumberland, MD-WV
• Population (ZIP): 41,015
• Household income: $60,725
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 824.0

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 68,778 people
• By 2030: 66,766 · -2.9%
• By 2040: 62,784 · -8.7%
• By 2050: 59,179 · -14.0%
• By 2075: 50,732 · -26.2%
• By 2100: 40,837 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Romanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+40.3) · D 28.9% · R 69.2% · Other 2.0%
• 2008→2024 swing: -14.4pp toward R · 2008: -25.9pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+38.3 2016: R+48.0 2012: R+32.9 2008: R+25.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.33%
• Current HPI: 258.6676
• Rent YoY: ▲ 10.88%
• Metro: Cumberland, MD-WV
• 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

-75.5% since first listed

18 events — show timeline

• 2026-05-12 Listed $12,000 FSBO.com
• 2020-02-02 Listing Removed — BRIGHT MLS
• 2020-01-22 Price Changed $6,000 BRIGHT MLS
• 2020-01-11 Price Changed $7,000 BRIGHT MLS
• 2019-12-12 Price Changed $8,000 BRIGHT MLS
• 2019-10-17 Price Changed $9,000 BRIGHT MLS
• 2019-08-05 Listed $14,900 BRIGHT MLS
• 2014-08-01 Delisted — MRIS
• 2014-08-01 Listing Removed — BRIGHT MLS
• 2014-07-23 Relisted — MRIS
• 2014-07-23 Price Changed — MRIS
• 2014-06-25 Price Changed — MRIS
• 2014-06-25 Pending — MRIS
• 2014-05-16 Price Changed — MRIS
• 2014-04-17 Price Changed — MRIS
• 2014-03-16 Listed — MRIS
• 2014-03-16 Listed $8,900 BRIGHT MLS
• 2006-08-03 Sold (Public Records) $49,000 Public Records

Property tax history

-5.3%/yr

Latest (2025): $75 · +8.4% YoY. Source: county tax records.