122 Lently Farm Ln

Centreville, MD 21617

$610,000C-

4 bd · 2.5 ba · 2,784 sqft · Built 1996 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,795/mo
• Mortgage (P&I): −$3,199
• Tax + insurance: −$594
• HOA: −$0
• Vac / Maint / Mgmt: −$1,217
• Net cashflow: $785/mo
• Annual: $9,423/yr
• Cap rate: 7.84%
• Cash-on-cash: 5.52%
• DSCR: 1.25
• 1% rule: 0.95%
• Cash to close: $170,800

Investor read

• This is a 4-bed/2.5-bath single-family listed at $610k.
• At list price, monthly cash flow is $785 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $580k (5.0% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $580k (5.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $18k of value loss. Plan a longer hold.
• Location reads 75/100 on livability (#102 in MD, #3,915 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: cost of living D+, amenities F, commute F.
• Queen Anne'S County Public Schools (rural): math 22% / reading 39% proficiency, ranked #7 of 24 in MD (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Centreville Elementary School (560 students, 33% FRL); Centreville Middle School (math 12% / reading 40%, grade F, #91 of 225 statewide, top 42%, 481 students, 33% FRL); Queen Anne'S County High School (math 56% / reading 66%, grade C+, #65 of 222 statewide, top 31%, 1,209 students, 37% FRL).
• Zoned-school proficiency averages 44% at this address vs 30% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Queen Anne'S County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 86 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 320 units permitted in Queen Anne's County in 2024 (56 in 5+ unit buildings).
• Climate carrying-cost: major wind risk, 51% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 7.8% vs local median 2.0% in Centreville — 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• 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.