8229 Fort Smallwood Rd · Riviera Beach, MD 21226

$399,999

4 bd · 1.0 ba · 650 sqft · SingleFamily public records · 4 Days on market

Built 1960 9,625 sqft lot

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Why this score? — see what drove the F 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).

• Appreciation +8.9/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Cash flow +2.2/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks MLS

Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

Key facts

• 9,625 sq ft lot
• 4 garage spots
• Built 1960

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-1k ($-17k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (63.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $143k (64.3% below list).
• Recommended offer: $143k (64.3% below list) — sets the bar for 1% rule.
• Cap rate 2.0% vs local median 5.6% in Riviera Beach — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 64/100 on livability (#280 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime D, cost of living D, schools D-.
• Anne Arundel County Public Schools (suburban): math 20% / reading 37% proficiency, ranked #10 of 24 in MD (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 45 active listings in the ZIP; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).

Forward outlook

• In year one you build about $34k of equity ($3k loan paydown + $31k appreciation (7.8% local appreciation)).
• Anne Arundel County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $142,970 (64.3% 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. Built in 1960 — 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 D 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: 0.36% ✗
• Cap rate: 1.95%
• Cash-on-cash: -15.50%
• DSCR: 0.31
• GRM: 23.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

7.75% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.59×
• Total profit: $66,169
• Equity at exit: $297,107

10-year hold

• IRR: 9.5%
• Equity multiple: 3.32×
• Total profit: $260,107
• Equity at exit: $583,400

Cash invested: $112,000 (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 21226

• Home prices YoY: 2.5%
• Active inventory: 45
• Price-to-rent: 23.3×

Monthly cashflow live

• Estimated rent: $1,430 medium
• Mortgage (P&I): −$2,098
• Tax from tax record: −$312 /mo · $3,742/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $-1,447

Break-even live

Break-even rent $3,261

Max offer price $144,442

Occupancy floor —

Sensitivity live

Price	-10% $-1,220	-5% $-1,333	+0% $-1,447	+5% $-1,560	+10% $-1,673
Rent	-10% $-1,560	-5% $-1,503	+0% $-1,447	+5% $-1,390	+10% $-1,334
Rate	-1.0pp $-1,245	-0.5pp $-1,345	base $-1,447	+0.5pp $-1,550	+1.0pp $-1,656

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-09
   status Pending 1335-char remark

   Show marketing remark (1335 chars)

   Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

2. 2026-04-09
   status Pending

   Show marketing remark (1335 chars)

   Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

3. 2026-03-31
   historical Active Under Contract 1335-char remark

   Show marketing remark (1335 chars)

   Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

4. 2026-03-31
   historical Active Under Contract

   Show marketing remark (1335 chars)

   Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

5. 2026-03-27
   listed $399,999 Active

   Show marketing remark (1335 chars)

   Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

6. 2026-03-27
   listed $399,999 Active 1335-char remark

   Show marketing remark (1335 chars)

   Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

7. 2026-03-25
   historical $399,999 1335-char remark

   Show marketing remark (1335 chars)

   Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

8. 2026-03-25
   historical $399,999

   Show marketing remark (1335 chars)

   Nestled in a water-privileged community with a boat ramp, private beach, and community pier, this is coastal living at its best! Beyond its prime location with front and rear water views, this offers a rare and versatile live-work opportunity with its dual residential and commercial zoning. The property is configured as a duplex, each featuring their own front entrance and rear access, 2 bedrooms, 1 full bath, kitchen and living room. With updated kitchens and bathrooms, hardwood floors and ceiling fans throughout, it would make a great living and/or investment opportunity. The true standout is the spacious basement with its own dedicated access, which can easily be transformed into a thriving business space, a professional studio, or a storefront while you reside in or rent out the upper levels. With it's excellent road frontage as a corner lot, the property makes it perfect for quick highway access or advertising your business. Both units benefit from a shared laundry area and separate rear storage area. The property also has a bonus detached two car garage with endless potential. Great AirBnb/VRBO rental as well! Whether you’re looking to run your business from home, invest in a unique duplex, or restore a property with endless utility, this coastal find is ready for you! * * more garage photos to come

ⓘ 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: $3,742 · $312/mo
• Projected year-2 tax: $4,051 · $338/mo
• Expected delta: +$309/yr (+$26/mo · 8.3%)

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

Taxation est. · year 1

• Rental income: $17,156
• − Mortgage interest: −$22,406
• − Property taxes: −$3,742
• − Insurance: −$2,000
• − Repairs & maintenance: −$1,373
• − Management: −$1,373
• − Depreciation: −$11,636
• Taxable loss: −$25,373
• Est. tax savings @ 24.0%: +$6,089
• After-tax cash flow: $-11,270/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: Anne Arundel County Public Schools
• NCES district ID: 2400060
• Math proficiency: 20% ▼ -21.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $87,880
• Composite: 28.52/100
• National rank: #6733
• State rank: #10 of 24 in MD

Livability — Riviera Beach

• Score: 64/100
• State rank: #280
• US rank: #14429

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Riviera Beach, MD
• Population (ZIP): 6,593

Population outlook (Anne Arundel County) Hauer SSP2

• Today (2025): 617,384 people
• By 2030: 642,094 · +4.0%
• By 2040: 686,621 · +11.2%
• By 2050: 723,031 · +17.1%
• By 2075: 809,346 · +31.1%
• By 2100: 837,658 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 59% Black 18% Two or more races 13% Hispanic / Latino 8% Asian 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 3%
• Common ancestry: Slovak 7% Romanian 2% Scotch-Irish 1%
• Foreign-born: 7% · Canada, Jamaica
• Languages at home: 91% English-only · Spanish 7% Tagalog/Filipino 1% Other Indo-European 1%

Political lean MEDSL · Anne Arundel

• 2024 margin: D (+13.9) · D 55.7% · R 41.7% · Other 2.6%
• 2008→2024 swing: +15.7pp toward D · 2008: -1.8pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+14.5 2016: D+0.7 2012: R+0.9 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 7.75%
• Current HPI: 318.79
• 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

+0.0% since first listed

8 events — show timeline

• 2026-04-09 Pending — BRIGHT MLS
• 2026-04-09 Pending — BRIGHT MLS
• 2026-03-31 Contingent — BRIGHT MLS
• 2026-03-31 Contingent — BRIGHT MLS
• 2026-03-27 Listed $399,999 BRIGHT MLS
• 2026-03-27 Listed $399,999 BRIGHT MLS
• 2026-03-25 Coming Soon $399,999 BRIGHT MLS
• 2026-03-25 Coming Soon $399,999 BRIGHT MLS

Property tax history

+5.7%/yr

Latest (2025): $3,742 · +3.8% YoY. Source: county tax records.