766 Hances Point Rd · Charlestown, MD 21901

$179,999

3 bd · 1.0 ba · 1,300 sqft · SingleFamily public records · 76 Days on market

Built 1950 0.97 ac lot $138/sqft · 45% below area Est $325k · 45% under

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Why this score? — see what drove the B- 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 +26.6/30.0
• ARV discount +15.0/15.0
• DSCR +9.1/10.0
• 1% rule +6.5/10.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor special! This property needs to be fully rehabbed. Great location near the North East river. The sale price on record is the amount of the tax lien foreclosure not the amount the current owner paid to purchase.

Key facts

• 0.97 acre lot
• 5 parking spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 3.1% in Charlestown — 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 73/100 on livability (#129 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.4%/yr); 158 active listings in the ZIP; high-income renter base; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $116k; list at $180k implies a 55% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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 $169,199 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.15% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.49%
• DSCR: 1.51
• GRM: 7.2

CMA / ARV

• ARV (median comp): $324,900
• List price: $179,999
• Delta: -44.60%
• Verdict: UNDERPRICED
• Comps: 6 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
143 Shady Beach Rd	0.50mi	2/1.0 (-1)	1,120 (-14%)	13mo	$395,000	$353	38

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 · 3.41% rent growth · sell at horizon

5-year hold

• IRR: 1.2%
• Equity multiple: 1.05×
• Total profit: $2,393
• Equity at exit: $26,838

10-year hold

• IRR: 11.2%
• Equity multiple: 1.89×
• Total profit: $45,097
• Equity at exit: $15,563

Cash invested: $50,400 (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 21901

• Home prices YoY: -34.5%
• Rents YoY: 3.4%
• Active inventory: 158
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,069 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$133 /mo · $1,600/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $482

Break-even live

Break-even rent $1,459

Max offer price $179,999

Occupancy floor 72%

Sensitivity live

Price	-10% $584	-5% $533	+0% $482	+5% $432	+10% $381
Rent	-10% $319	-5% $401	+0% $482	+5% $564	+10% $646
Rate	-1.0pp $573	-0.5pp $528	base $482	+0.5pp $436	+1.0pp $388

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $179,999 Active 76 DOM
2. 2026-06-17
   days on market $179,999 Active 75 DOM
3. 2026-06-16
   days on market $179,999 Active 74 DOM
4. 2026-06-15
   days on market $179,999 Active 73 DOM
5. 2026-06-13
   days on market $179,999 Active 71 DOM
6. 2026-06-09
   days on market $179,999 Active 67 DOM
7. 2026-06-08
   days on market $179,999 Active 66 DOM
8. 2026-06-07
   days on market $179,999 Active 65 DOM
9. 2026-06-04
   days on market $179,999 Active 62 DOM
10. 2026-06-03
    days on market $179,999 Active 61 DOM
11. 2026-06-02
    days on market $179,999 Active 60 DOM
12. 2026-06-01
    days on market $179,999 Active 59 DOM
13. 2026-06-01
    price $179,999 Active 58 DOM
14. 2026-05-31
    days on market $189,999 Active 58 DOM
15. 2026-04-25
    price $189,999 219-char remark

    Show marketing remark (219 chars)

    Investor special! This property needs to be fully rehabbed. Great location near the North East river. The sale price on record is the amount of the tax lien foreclosure not the amount the current owner paid to purchase.

16. 2026-04-03
    listed $199,999 Active 219-char remark

    Show marketing remark (219 chars)

    Investor special! This property needs to be fully rehabbed. Great location near the North East river. The sale price on record is the amount of the tax lien foreclosure not the amount the current owner paid to purchase.

17. 2008-07-21
    soldstatus $116,000 221-char remark

    Show marketing remark (221 chars)

    Property is in need of repair. Property is being sold as-is with no warranties expressed or implied. All offers must have pre-approval or proof of funds and must include Fannie Mae addendums. Investors must have 10% down.

18. 2008-07-21
    soldstatus $116,000

    Show marketing remark (221 chars)

    Property is in need of repair. Property is being sold as-is with no warranties expressed or implied. All offers must have pre-approval or proof of funds and must include Fannie Mae addendums. Investors must have 10% down.

19. 2008-06-13
    historical 221-char remark

    Show marketing remark (221 chars)

    Property is in need of repair. Property is being sold as-is with no warranties expressed or implied. All offers must have pre-approval or proof of funds and must include Fannie Mae addendums. Investors must have 10% down.

20. 2008-06-13
    historical

    Show marketing remark (221 chars)

    Property is in need of repair. Property is being sold as-is with no warranties expressed or implied. All offers must have pre-approval or proof of funds and must include Fannie Mae addendums. Investors must have 10% down.

21. 2008-04-30
    listed $130,900 221-char remark

    Show marketing remark (221 chars)

    Property is in need of repair. Property is being sold as-is with no warranties expressed or implied. All offers must have pre-approval or proof of funds and must include Fannie Mae addendums. Investors must have 10% down.

22. 2008-04-29
    listed $130,900
23. 2007-05-03
    soldstatus $155,000
24. 2007-04-30
    soldstatus $155,000
25. 2007-03-08
    historical
26. 2007-02-25
    listed $139,900

ⓘ 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: $1,600 · $133/mo
• Projected year-2 tax: $1,781 · $148/mo
• Expected delta: +$181/yr (+$15/mo · 11.3%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,832
• − Mortgage interest: −$10,083
• − Property taxes: −$1,600
• − Insurance: −$900
• − Repairs & maintenance: −$1,987
• − Management: −$1,987
• − Depreciation: −$5,236
• Taxable income: $3,039
• Est. tax owed @ 24.0%: −$729
• After-tax cash flow: $5,060/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: Cecil County Public Schools
• NCES district ID: 2400240
• Math proficiency: 15% ▼ -21.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $66,544
• Composite: 21.51/100
• National rank: #8322
• State rank: #15 of 24 in MD

Livability — Charlestown

• Score: 73/100
• State rank: #129
• US rank: #5488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cecil County · 65,041 people
• City population: 786
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 19,514
• Household income: $113,719
• Rent vs Own: 26.9% rent · 73.1% own
• Severe rent burden: 427.0

Population outlook (Cecil County) Hauer SSP2

• Today (2025): 105,877 people
• By 2030: 106,905 · +1.0%
• By 2040: 107,156 · +1.2%
• By 2050: 104,170 · -1.6%
• By 2075: 95,771 · -9.5%
• By 2100: 82,381 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Black 7% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Italian 4% Romanian 4% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 0%

Political lean MEDSL · Cecil

• 2024 margin: Solid R (+30.9) · D 33.5% · R 64.4% · Other 2.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -14.6pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.6 2016: R+35.3 2012: R+20.4 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -124.98%
• Current HPI: 236.852
• Rent YoY: ▲ 3.41%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

+35.8% since first listed

12 events — show timeline

• 2026-04-25 Price Changed $189,999 BRIGHT MLS
• 2026-04-03 Listed $199,999 BRIGHT MLS
• 2008-07-21 Sold (MLS) $116,000 BRIGHT MLS
• 2008-07-21 Sold (MLS) $116,000 MRIS
• 2008-06-13 Listing Removed — BRIGHT MLS
• 2008-06-13 Delisted — MRIS
• 2008-04-30 Listed $130,900 MRIS
• 2008-04-29 Listed $130,900 BRIGHT MLS
• 2007-05-03 Sold (Public Records) $155,000 Public Records
• 2007-04-30 Sold (MLS) $155,000 MRIS
• 2007-03-08 Delisted — MRIS
• 2007-02-25 Listed $139,900 MRIS

Property tax history

-0.2%/yr

Latest (2025): $1,600 · +3.2% YoY. Source: county tax records.