650 Field Rd · St. Leonard, MD 20657

$216,000

3 bd · 1.5 ba · 960 sqft · SingleFamily public records · 139 Days on market

Built 1989 6,500 sqft lot $225/sqft · 18% below area Est $265k · 18% under $15/mo HOA · 1% of rent

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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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.1/10.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 Bedroom 1 Bathroom rambler. HUD MAKES NO REPAIRS. HUD CASE#244-287687 ). EQUAL HOUSING OPPORTUNITY. GROUND RENT/HOA/CONDO FEES/FF Fees if any to be verified by purchaser. All offers submitted to HUDHOMESTORE for bid status and availability visit HUDHOMESTORE.

Key facts

• 6,500 sq ft lot
• Built 1989
• Listed 139 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $216k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $216k).
• Recommended offer: $190k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.8% in St. Leonard — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Calvert County Public Schools (rural): math 23% / reading 44% proficiency, ranked #5 of 24 in MD (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 176 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 101 units permitted in Calvert County in 2024 (0 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 $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 139 days — a 12% lower offer ($190k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 15y ago; this cycle's ask has dropped $24k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,080 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.01% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• GRM: 8.3

CMA / ARV

• ARV (median comp): $265,012
• List price: $216,000
• Delta: -18.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
650 Field Rd	0.00mi	3/1.5	960 (0%)	0mo	$197,618	$206	100
550 White Sands Dr	0.15mi	3/1.0	960 (0%)	1mo	$299,900	$312	90
636 Field Rd	0.02mi	3/1.5	960 (0%)	19mo	$236,000	$246	83
721 White Sands Dr	0.13mi	3/1.0	960 (0%)	14mo	$265,000	$276	80
8315 Cedar Ln	0.15mi	3/2.0	1,030 (+7%)	1mo	$316,000	$307	78
8264 Sycamore Rd	0.51mi	3/1.0	960 (0%)	1mo	$324,900	$338	74
245 Laurel Dr	0.48mi	3/1.0	960 (0%)	3mo	$295,000	$307	73
8408 Sailboat Ln	0.55mi	3/1.0	1,008 (+5%)	7mo	$310,000	$308	58
528 Skyview Dr	0.24mi	3/2.0	1,092 (+14%)	9mo	$265,000	$243	57

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-16,771
• Equity at exit: $32,206

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $8,858
• Equity at exit: $18,676

Cash invested: $60,480 (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 20657

• Home prices YoY: -7.1%
• Active inventory: 176
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,176 medium
• Mortgage (P&I): −$1,133
• Tax from tax record: −$195 /mo · $2,338/yr
• Insurance: −$90
• HOA: −$15
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $286

Break-even live

Break-even rent $1,813

Max offer price $216,000

Occupancy floor 82%

Sensitivity live

Price	-10% $409	-5% $347	+0% $286	+5% $225	+10% $164
Rent	-10% $114	-5% $200	+0% $286	+5% $372	+10% $458
Rate	-1.0pp $395	-0.5pp $341	base $286	+0.5pp $230	+1.0pp $173

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: $54,000
• Closing costs: $6,480
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
312 White Sands Dr Lusby, MD	3.0	1.0	1026	$1,800	$1.75	44d	1	0.45mi

HOA detail

• Monthly dues: $15 · $180/yr

Listing history 33 events

1. 2026-05-13
   status Pending 261-char remark

   Show marketing remark (261 chars)

   3 Bedroom 1 Bathroom rambler. HUD MAKES NO REPAIRS. HUD CASE#244-287687 ). EQUAL HOUSING OPPORTUNITY. GROUND RENT/HOA/CONDO FEES/FF Fees if any to be verified by purchaser. All offers submitted to HUDHOMESTORE for bid status and availability visit HUDHOMESTORE.

2. 2026-02-09
   price $216,000 261-char remark

   Show marketing remark (261 chars)

   3 Bedroom 1 Bathroom rambler. HUD MAKES NO REPAIRS. HUD CASE#244-287687 ). EQUAL HOUSING OPPORTUNITY. GROUND RENT/HOA/CONDO FEES/FF Fees if any to be verified by purchaser. All offers submitted to HUDHOMESTORE for bid status and availability visit HUDHOMESTORE.

3. 2025-12-25
   listed $240,000 Active 261-char remark

   Show marketing remark (261 chars)

   3 Bedroom 1 Bathroom rambler. HUD MAKES NO REPAIRS. HUD CASE#244-287687 ). EQUAL HOUSING OPPORTUNITY. GROUND RENT/HOA/CONDO FEES/FF Fees if any to be verified by purchaser. All offers submitted to HUDHOMESTORE for bid status and availability visit HUDHOMESTORE.

4. 2021-11-02
   soldstatus $199,000
5. 2021-11-01
   soldstatus $199,000 Closed 269-char remark

   Show marketing remark (269 chars)

   This a 3 bedroom 1 1/2 bath home totally remodeled wood floors new kitchen great affordable price * * . open floor plan * * great starter home * * Tile bath * * Tile floors in bathrooms * * stain steel appliances * * front porch * * stack able washer and dryer

6. 2021-09-23
   status Active Under Contract 269-char remark

   Show marketing remark (269 chars)

   This a 3 bedroom 1 1/2 bath home totally remodeled wood floors new kitchen great affordable price * * . open floor plan * * great starter home * * Tile bath * * Tile floors in bathrooms * * stain steel appliances * * front porch * * stack able washer and dryer

7. 2021-09-17
   listed $199,000 269-char remark

   Show marketing remark (269 chars)

   This a 3 bedroom 1 1/2 bath home totally remodeled wood floors new kitchen great affordable price * * . open floor plan * * great starter home * * Tile bath * * Tile floors in bathrooms * * stain steel appliances * * front porch * * stack able washer and dryer

8. 2021-09-17
   historical 269-char remark

   Show marketing remark (269 chars)

   This a 3 bedroom 1 1/2 bath home totally remodeled wood floors new kitchen great affordable price * * . open floor plan * * great starter home * * Tile bath * * Tile floors in bathrooms * * stain steel appliances * * front porch * * stack able washer and dryer

9. 2018-09-08
   historical
10. 2018-03-01
    status Contract
11. 2018-03-01
    historical
12. 2018-03-01
    historical Withdrawn
13. 2017-11-20
    price
14. 2017-11-07
    price
15. 2017-10-30
    price
16. 2017-10-30
    status Active
17. 2017-10-07
    historical Temporarily Off-Market
18. 2017-10-06
    listed Active
19. 2017-10-06
    listed $149,900
20. 2012-11-05
    historical Withdrawn
21. 2012-11-05
    historical
22. 2012-08-10
    price
23. 2012-08-06
    price
24. 2012-07-25
    price
25. 2012-06-28
    price
26. 2012-06-20
    soldstatus $1,350,000
27. 2012-06-19
    price
28. 2012-06-12
    listed Active
29. 2012-06-12
    listed $124,900
30. 2011-03-31
    historical Withdrawn
31. 2011-03-31
    historical
32. 2011-03-09
    listed Active
33. 2011-03-08
    listed $129,000

ⓘ 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: $2,338 · $195/mo
• Projected year-2 tax: $2,346 · $196/mo
• Expected delta: +$8/yr (+$1/mo · 0.3%)

ⓘ 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 9/10 Extreme 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,109
• − Mortgage interest: −$12,099
• − Property taxes: −$2,338
• − Insurance: −$1,080
• − Repairs & maintenance: −$2,089
• − Management: −$2,089
• − HOA: −$180
• − Depreciation: −$6,284
• Taxable loss: −$49
• Est. tax savings @ 24.0%: +$12
• After-tax cash flow: $3,447/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: Calvert County Public Schools
• NCES district ID: 2400150
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $94,392
• Composite: 33.27/100
• National rank: #5511
• State rank: #5 of 24 in MD

Livability — St. Leonard

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Calvert County · 33,451 people
• Metro: Washington-Arlington-Alexandria, DC-VA-MD-WV
• Population (ZIP): 20,699
• Household income: $115,748
• Rent vs Own: 12.8% rent · 87.2% own
• Severe rent burden: 136.0

Population outlook (Calvert County) Hauer SSP2

• Today (2025): 94,825 people
• By 2030: 96,197 · +1.4%
• By 2040: 96,954 · +2.2%
• By 2050: 94,628 · -0.2%
• By 2075: 91,576 · -3.4%
• By 2100: 83,431 · -12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 15% Two or more races 7% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 1% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Slovak 3% Romanian 1%
• Foreign-born: 4% · Canada
• Languages at home: 93% English-only · Spanish 3% Other Indo-European 1% Tagalog/Filipino 1%

Political lean MEDSL · Calvert

• 2024 margin: R (+11.0) · D 43.5% · R 54.5% · Other 2.0%
• 2008→2024 swing: -4.6pp toward R · 2008: -6.3pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+5.6 2016: R+18.4 2012: R+8.2 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -20.88%
• Current HPI: 274.4909
• Rent YoY: —
• Metro: Washington-Arlington-Alexandria, DC-VA-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

+67.4% since first listed

33 events — show timeline

• 2026-05-13 Pending — BRIGHT MLS
• 2026-02-09 Price Changed $216,000 BRIGHT MLS
• 2025-12-25 Listed $240,000 BRIGHT MLS
• 2021-11-02 Sold (Public Records) $199,000 Public Records
• 2021-11-01 Sold (MLS) $199,000 BRIGHT MLS
• 2021-09-23 Relisted — BRIGHT MLS
• 2021-09-17 Listing Removed — BRIGHT MLS
• 2021-09-17 Listed $199,000 BRIGHT MLS
• 2018-09-08 Listing Removed — BRIGHT MLS
• 2018-03-01 Pending — MRIS
• 2018-03-01 Delisted — MRIS
• 2018-03-01 Listing Removed — BRIGHT MLS
• 2017-11-20 Price Changed — MRIS
• 2017-11-07 Price Changed — MRIS
• 2017-10-30 Price Changed — MRIS
• 2017-10-30 Relisted — MRIS
• 2017-10-07 Delisted — MRIS
• 2017-10-06 Listed — MRIS
• 2017-10-06 Listed $149,900 BRIGHT MLS
• 2012-11-05 Delisted — MRIS
• 2012-11-05 Listing Removed — BRIGHT MLS
• 2012-08-10 Price Changed — MRIS
• 2012-08-06 Price Changed — MRIS
• 2012-07-25 Price Changed — MRIS
• 2012-06-28 Price Changed — MRIS
• 2012-06-20 Sold (Public Records) $1,350,000 Public Records
• 2012-06-19 Price Changed — MRIS
• 2012-06-12 Listed — MRIS
• 2012-06-12 Listed $124,900 BRIGHT MLS
• 2011-03-31 Delisted — MRIS
• 2011-03-31 Listing Removed — BRIGHT MLS
• 2011-03-09 Listed — MRIS
• 2011-03-08 Listed $129,000 BRIGHT MLS

Property tax history

+1.8%/yr

Latest (2025): $2,338 · +9.6% YoY. Source: county tax records.