403 Market St · Pocomoke City, MD 21851

$100,000

4 bd · 3.0 ba · 4,200 sqft · SingleFamily · 161 Days on market

Built 1955 Poor condition 10,500 sqft lot $24/sqft · 42% above area Est $70k · 42% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +1.0/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a major renovation project. Current renovation plans will be in the MLS docs. The seller isn't making any renovations at the time. If the property renovated is an interest of any potential buyer, Nonrefundable deposit will be required. State level documents will show commercial use and usage available but, due to re-zoning in the city limits this is a single-family residential property. There is a ton of upside with this property for an owner with the right vision. Bedroom and bathroom count are an estimation of the possibilities for the new owner. Hold Harmless will need to be signed before entry due to debris and interior condition.

Key facts

• 0.24 acre lot
• Built 1955
• Listed 161 days

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $100k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $899 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.1% vs local median 5.6% in Pocomoke City — 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 71/100 on livability (#157 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D+, crime F, 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: 69 active listings in the ZIP; 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 $691 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 2.01% ✓
• Cap rate: 17.08%
• Cash-on-cash: 38.52%
• DSCR: 2.71
• GRM: 4.1

CMA / ARV

• ARV (median comp): $70,403
• List price: $100,000
• Delta: 42.04%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 34.7%
• Equity multiple: 2.47×
• Total profit: $41,066
• Equity at exit: $14,910

10-year hold

• IRR: 41.5%
• Equity multiple: 4.91×
• Total profit: $109,589
• Equity at exit: $8,646

Cash invested: $28,000 (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 21851

• Home prices YoY: -4.0%
• Active inventory: 69
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $2,012 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,500/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $899

Break-even live

Break-even rent $875

Max offer price $100,000

Occupancy floor 50%

Sensitivity live

Price	-10% $968	-5% $933	+0% $899	+5% $864	+10% $830
Rent	-10% $740	-5% $819	+0% $899	+5% $978	+10% $1,058
Rate	-1.0pp $949	-0.5pp $924	base $899	+0.5pp $873	+1.0pp $846

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $100,000 Active 161 DOM
2. 2026-06-17
   days on market $100,000 Active 160 DOM
3. 2026-06-16
   days on market $100,000 Active 159 DOM
4. 2026-06-15
   days on market $100,000 Active 158 DOM
5. 2026-06-14
   days on market $100,000 Active 156 DOM
6. 2026-06-13
   days on market $100,000 Active 155 DOM
7. 2026-06-10
   days on market $100,000 Active 153 DOM
8. 2026-06-09
   days on market $100,000 Active 152 DOM
9. 2026-06-08
   days on market $100,000 Active 151 DOM
10. 2026-06-07
    days on market $100,000 Active 150 DOM
11. 2026-06-02
    days on market $100,000 Active 145 DOM
12. 2026-06-01
    days on market $100,000 Active 144 DOM
13. 2026-05-31
    days on market $100,000 Active 143 DOM
14. 2026-05-30
    days on market $100,000 Active 142 DOM
15. 2026-01-08
    listed $100,000 Active 650-char remark

    Show marketing remark (650 chars)

    This is a major renovation project. Current renovation plans will be in the MLS docs. The seller isn't making any renovations at the time. If the property renovated is an interest of any potential buyer, Nonrefundable deposit will be required. State level documents will show commercial use and usage available but, due to re-zoning in the city limits this is a single-family residential property. There is a ton of upside with this property for an owner with the right vision. Bedroom and bathroom count are an estimation of the possibilities for the new owner. Hold Harmless will need to be signed before entry due to debris and interior condition.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,149
• − Mortgage interest: −$5,602
• − Property taxes: −$1,500
• − Insurance: −$500
• − Repairs & maintenance: −$1,932
• − Management: −$1,932
• − Depreciation: −$2,909
• Taxable income: $9,774
• Est. tax owed @ 24.0%: −$2,346
• After-tax cash flow: $8,439/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.

Condition & rehab AI · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive renovation and structural repairs. Immediate safety and functionality concerns necessitate immediate attention.

Repairs flagged

• Major roof — Structural damage and debris
• Major exterior walls — Significant structural damage and debris
• Major interior walls — Exposed ductwork and debris
• Major flooring — Exposed ductwork and debris

Value-add opportunities

• Both Structural repairs and debris removal — Essential for safety and functionality
• Both Interior and exterior cleaning — Improves curb appeal and safety
• Both Roof repair and replacement — Critical for safety and longevity
• Both Electrical and HVAC upgrades — Enhances comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Structural damage and debris	Major	$15,000–50,000
exterior walls · Significant structural damage and debris	Major	$15,000–50,000
interior walls · Exposed ductwork and debris	Major	$15,000–50,000
flooring · Exposed ductwork and debris	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both Structural repairs and debris removal — Essential for safety and functionality ↑
• Both Interior and exterior cleaning — Improves curb appeal and safety ↑
• Both Roof repair and replacement — Critical for safety and longevity ↑
• Both Electrical and HVAC upgrades — Enhances comfort and energy efficiency ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — Pocomoke City

• Score: 71/100
• State rank: #157
• US rank: #7066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pocomoke City, MD
• Population (ZIP): 7,252

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 54% Black 37% Two or more races 5% Asian 2% Hispanic / Latino 2%
• Common ancestry: Scandinavian 2% Romanian 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada, Dominican Republic, Mexico
• Languages at home: 93% English-only · Other Asian/Pacific 1% Spanish 1% Vietnamese 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: ▼ -10.03%
• Current HPI: 243.2329
• 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

1 event — show timeline

• 2026-01-08 Listed $100,000 BRIGHT MLS