10698 Oriole Back · Dames Quarter, MD 21853

$125,000

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 138 Days on market

Built 1920 0.91 ac lot $93/sqft · 37% below area Est $200k · 37% 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Appreciation +7.5/10.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Victorian farm house located 8 miles from Princess Anne Md. features 3 bedrooms one bath on almost 1 acre of land. detached garage could possibly be converted to an in-law suite .

Key facts

• Victorian farm house
• 0.91 acre lot
• 2 garage spots

Tags

• VICTORIAN FARM HOUSE
• ALMOST 1 ACRE OF LAND

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $26 ($312/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 52/100 on livability (#432 in MD) — a working-class tenant base; expect higher turnover. Strengths: housing A; Watch: schools F, crime F, amenities F.
• Somerset County Public Schools (town): math 12% / reading 23% proficiency, ranked #22 of 24 in MD (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 58 active listings in the ZIP; 49 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($864 loan paydown + $6k appreciation (5.0% local appreciation)).
• Somerset County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 138 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 30y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $125k implies a 73% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 138 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.26% ✓
• Cap rate: 10.64%
• Cash-on-cash: 15.52%
• DSCR: 1.69
• GRM: 6.6

CMA / ARV

• ARV (median comp): $199,892
• List price: $125,000
• Delta: -37.47%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26894 Deal Island Rd	0.69mi	3/1.0	1,242 (-8%)	11mo	$154,000	$124	46
26866 Deal Island Rd	0.68mi	3/1.0	1,267 (-6%)	24mo	$185,000	$146	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.89×
• Total profit: $31,058
• Equity at exit: $71,207

10-year hold

• IRR: 14.7%
• Equity multiple: 3.65×
• Total profit: $92,785
• Equity at exit: $123,202

Cash invested: $35,000 (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 21853

• Home prices YoY: 1.8%
• Active inventory: 58
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,579 medium
• Mortgage (P&I): −$656
• Tax from tax record: −$87 /mo · $1,046/yr
• Insurance: −$52
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $26

Break-even live

Break-even rent $1,546

Max offer price $125,000

Occupancy floor 93%

Sensitivity live

Price	-10% $97	-5% $61	+0% $26	+5% $-9	+10% $-45
Rent	-10% $-99	-5% $-36	+0% $26	+5% $88	+10% $151
Rate	-1.0pp $89	-0.5pp $58	base $26	+0.5pp $-6	+1.0pp $-39

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Listing history 43 events

1. 2026-06-18
   days on market $125,000 Active 138 DOM
2. 2026-06-17
   days on market $125,000 Active 137 DOM
3. 2026-06-16
   days on market $125,000 Active 136 DOM
4. 2026-06-15
   days on market $125,000 Active 135 DOM
5. 2026-06-14
   days on market $125,000 Active 133 DOM
6. 2026-06-13
   days on market $125,000 Active 132 DOM
7. 2026-06-10
   days on market $125,000 Active 130 DOM
8. 2026-06-09
   days on market $125,000 Active 129 DOM
9. 2026-06-08
   days on market $125,000 Active 128 DOM
10. 2026-06-07
    days on market $125,000 Active 127 DOM
11. 2026-06-02
    days on market $125,000 Active 122 DOM
12. 2026-06-01
    days on market $125,000 Active 121 DOM
13. 2026-05-31
    days on market $125,000 Active 120 DOM
14. 2026-05-30
    days on market $125,000 Active 119 DOM
15. 2026-04-08
    price $125,000 180-char remark

    Show marketing remark (180 chars)

    Victorian farm house located 8 miles from Princess Anne Md. features 3 bedrooms one bath on almost 1 acre of land. detached garage could possibly be converted to an in-law suite .

16. 2026-04-08
    status Active 180-char remark

    Show marketing remark (180 chars)

    Victorian farm house located 8 miles from Princess Anne Md. features 3 bedrooms one bath on almost 1 acre of land. detached garage could possibly be converted to an in-law suite .

17. 2025-08-29
    historical 180-char remark

    Show marketing remark (180 chars)

    Victorian farm house located 8 miles from Princess Anne Md. features 3 bedrooms one bath on almost 1 acre of land. detached garage could possibly be converted to an in-law suite .

18. 2025-06-23
    listed $135,000 Active 180-char remark

    Show marketing remark (180 chars)

    Victorian farm house located 8 miles from Princess Anne Md. features 3 bedrooms one bath on almost 1 acre of land. detached garage could possibly be converted to an in-law suite .

19. 2023-11-18
    historical
20. 2023-07-21
    listed $90,000 Active
21. 2023-07-11
    soldstatus $72,100
22. 2023-06-01
    soldstatus $45,000
23. 2017-12-15
    soldstatus $54,000
24. 2017-12-15
    soldstatus $54,000
25. 2017-06-23
    listed $65,000
26. 2013-07-16
    soldstatus $17,500
27. 2013-03-27
    listed $25,000
28. 2005-08-01
    soldstatus $94,900
29. 2005-07-26
    soldstatus $94,900
30. 2005-05-03
    listed $89,900
31. 2005-02-08
    soldstatus $42,500
32. 2005-02-02
    soldstatus $42,500
33. 2005-01-04
    historical
34. 2004-08-27
    listed $46,200
35. 2004-08-27
    listed $46,200
36. 2002-02-28
    soldstatus $60,000
37. 2002-02-20
    listed $62,000
38. 2000-09-24
    historical
39. 1999-09-27
    listed $63,900
40. 1999-03-11
    historical
41. 1998-08-03
    listed $72,000
42. 1997-07-20
    historical
43. 1996-01-20
    listed $72,000

ⓘ 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: $1,046 · $87/mo
• Projected year-2 tax: $1,204 · $100/mo
• Expected delta: +$158/yr (+$13/mo · 15.2%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 7/10 Severe
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,946
• − Mortgage interest: −$7,002
• − Property taxes: −$1,046
• − Insurance: −$5,744
• − Repairs & maintenance: −$1,516
• − Management: −$1,516
• − Depreciation: −$3,636
• Taxable loss: −$1,513
• Est. tax savings @ 24.0%: +$363
• After-tax cash flow: $675/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: Somerset County Public Schools
• NCES district ID: 2400570
• Math proficiency: 12% ▼ -7.00%
• Reading proficiency: 23% ▼ -14.00%
• Median HH income: $38,810
• Composite: 14.73/100
• National rank: #9396
• State rank: #22 of 24 in MD

Livability — Dames Quarter

• Score: 52/100
• State rank: #432
• US rank: #24705

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Somerset County · 10,537 people
• City population: 736
• Metro: Salisbury, MD-DE
• Population (ZIP): 10,537
• Household income: $69,697
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 349.0

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 24,474 people
• By 2030: 23,547 · -3.8%
• By 2040: 21,498 · -12.2%
• By 2050: 20,427 · -16.5%
• By 2075: 16,594 · -32.2%
• By 2100: 12,132 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 49% White 38% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Ukrainian 3% Scotch-Irish 1% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Arabic 3% Spanish 1%

Political lean MEDSL · Somerset

• 2024 margin: R (+17.4) · D 40.2% · R 57.5% · Other 2.3%
• 2008→2024 swing: -14.8pp toward R · 2008: -2.6pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.8 2016: R+17.9 2012: R+2.5 2008: R+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.05%
• Current HPI: 285.8789
• Rent YoY: —
• Metro: Salisbury, MD-DE
• 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

+73.6% since first listed

29 events — show timeline

• 2026-04-08 Price Changed $125,000 BRIGHT MLS
• 2026-04-08 Relisted — BRIGHT MLS
• 2025-08-29 Listing Removed — BRIGHT MLS
• 2025-06-23 Listed $135,000 BRIGHT MLS
• 2023-11-18 Listing Removed — BRIGHT MLS
• 2023-07-21 Listed $90,000 BRIGHT MLS
• 2023-07-11 Sold (Public Records) $72,100 Public Records
• 2023-06-01 Sold (Public Records) $45,000 Public Records
• 2017-12-15 Sold (Public Records) $54,000 Public Records
• 2017-12-15 Sold (MLS) $54,000 BRIGHT MLS
• 2017-06-23 Listed $65,000 BRIGHT MLS
• 2013-07-16 Sold (MLS) $17,500 BRIGHT MLS
• 2013-03-27 Listed $25,000 BRIGHT MLS
• 2005-08-01 Sold (MLS) $94,900 BRIGHT MLS
• 2005-07-26 Sold (Public Records) $94,900 Public Records
• 2005-05-03 Listed $89,900 BRIGHT MLS
• 2005-02-08 Sold (MLS) $42,500 BRIGHT MLS
• 2005-02-02 Sold (MLS) $42,500 MRIS
• 2005-01-04 Delisted — MRIS
• 2004-08-27 Listed $46,200 MRIS
• 2004-08-27 Listed $46,200 BRIGHT MLS
• 2002-02-28 Sold (MLS) $60,000 BRIGHT MLS
• 2002-02-20 Listed $62,000 BRIGHT MLS
• 2000-09-24 Listing Removed — BRIGHT MLS
• 1999-09-27 Listed $63,900 BRIGHT MLS
• 1999-03-11 Listing Removed — BRIGHT MLS
• 1998-08-03 Listed $72,000 BRIGHT MLS
• 1997-07-20 Listing Removed — BRIGHT MLS
• 1996-01-20 Listed $72,000 BRIGHT MLS

Property tax history

+1.2%/yr

Latest (2025): $1,046 · +9.6% YoY. Source: county tax records.