1290 Gaswell Rd

Jennings, MD 21536

$100,000A-

2 bd · 1.0 ba · 960 sqft · Built 1984 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,545/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$85
• HOA: −$0
• Vac / Maint / Mgmt: −$325
• Net cashflow: $612/mo
• Annual: $7,344/yr
• Cap rate: 13.64%
• Cash-on-cash: 26.23%
• DSCR: 2.17
• 1% rule: 1.55%
• Cash to close: $28,000

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $612 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• It's been on market 46 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• In year one you build about $11k of equity ($691 loan paydown + $10k appreciation (10.0% local appreciation)).
• Location reads 44/100 on livability (#479 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: amenities F, commute F, employment F.
• Garrett County Public Schools (rural): math 17% / reading 30% proficiency, ranked #16 of 24 in MD (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grantsville Elementary (math 12% / reading 12%, grade F, #550 of 860 statewide, top 66%, 171 students, 59% FRL); Northern Middle School (math 16% / reading 37%, grade F, #86 of 225 statewide, top 40%, 320 students, 39% FRL); Northern Garrett High School (math 42% / reading 77%, grade C+, #73 of 222 statewide, top 34%, 439 students, 37% FRL).
• Market conditions: 22 active listings in the ZIP; 122 units permitted in Garrett County in 2024 (0 in 5+ unit buildings).
• Garrett County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 13y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $48k; list at $100k implies a 111% gain — meaningful room to come down on a strong offer.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.