731 N Westover Dr · Salisbury, MD 21801

$135,000

2 bd · 1.0 ba · 528 sqft · SingleFamily public records · 696 Days on market

Built 1947 3,648 sqft lot $256/sqft · 94% above area ↓ 22% since listing

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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 +26.5/30.0
• DSCR +9.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• Rent growth +4.3/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bed 1 bath single family home close to shopping, schools, churches etc. 35 minutes to beaches. No city taxes. Currently tenant occupied. Seller will consider seller financing.

Key facts

• 3,648 sq ft lot
• Built 1947
• Listed 696 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $356 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.5% vs local median 4.8% in Salisbury — 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 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+7.2%/yr); 190 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.2% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 696 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 696 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 1947 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 1.07% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.30%
• DSCR: 1.50
• GRM: 7.8

CMA / ARV

• ARV (median comp): $69,712
• List price: $135,000
• Delta: 93.65%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.21% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.19×
• Total profit: $7,135
• Equity at exit: $20,129

10-year hold

• IRR: 17.4%
• Equity multiple: 2.69×
• Total profit: $63,796
• Equity at exit: $11,672

Cash invested: $37,800 (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 21801

• Home prices YoY: -30.6%
• Rents YoY: 7.2%
• Active inventory: 190
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,450 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$25 /mo · $301/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $356

Break-even live

Break-even rent $999

Max offer price $135,000

Occupancy floor 70%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 Dennis St Salisbury, MD	2.0	1.0	672	$1,395	$2.08	13d	1	0.21mi
231 Newton St Unit B Salisbury, MD	2.0	1.0	736	$1,400	$1.90	43d	1	1.20mi
518 Alabama Ave Salisbury, MD	1.0–3.0	1.0–2.5	1028	$1,592	$1.55	13d	14	1.25mi

Listing history 21 events

1. 2026-06-18
   days on market $135,000 Active 696 DOM
2. 2026-06-17
   days on market $135,000 Active 695 DOM
3. 2026-06-16
   pricelisting id $135,000 Active 694 DOM
4. 2026-06-16
   days on market $400,000 Active 694 DOM
5. 2026-06-15
   days on market $400,000 Active 693 DOM
6. 2026-06-14
   days on market $400,000 Active 691 DOM
7. 2026-06-13
   days on market $400,000 Active 690 DOM
8. 2026-06-10
   days on market $400,000 Active 688 DOM
9. 2026-06-09
   days on market $400,000 Active 687 DOM
10. 2026-06-08
    days on market $400,000 Active 686 DOM
11. 2026-06-07
    days on market $400,000 Active 685 DOM
12. 2026-06-03
    days on market $400,000 Active 681 DOM
13. 2026-06-02
    days on market $400,000 Active 680 DOM
14. 2026-06-01
    days on market $400,000 Active 679 DOM
15. 2026-05-31
    days on market $400,000 Active 678 DOM
16. 2026-05-30
    days on market $400,000 Active 677 DOM
17. 2024-07-23
    listed $135,000 Active 177-char remark

    Show marketing remark (336 chars)

    Property consists of 3 single-family homes on one parcel. Live in one, rent the other 2 or rent all three. Close to schools, shopping, churches etc! 35 minutes to OC Beaches. No city taxes. Great investment opportunity! All three units are currently tenant occupied. 48 Hours' notice for showings. Seller will consider seller financing.

18. 2024-07-23
    listed $400,000 Active 336-char remark

    Show marketing remark (336 chars)

    Property consists of 3 single-family homes on one parcel. Live in one, rent the other 2 or rent all three. Close to schools, shopping, churches etc! 35 minutes to OC Beaches. No city taxes. Great investment opportunity! All three units are currently tenant occupied. 48 Hours' notice for showings. Seller will consider seller financing.

19. 2024-07-22
    historical $135,000 177-char remark

    Show marketing remark (336 chars)

    Property consists of 3 single-family homes on one parcel. Live in one, rent the other 2 or rent all three. Close to schools, shopping, churches etc! 35 minutes to OC Beaches. No city taxes. Great investment opportunity! All three units are currently tenant occupied. 48 Hours' notice for showings. Seller will consider seller financing.

20. 2024-07-22
    historical $400,000 336-char remark

    Show marketing remark (336 chars)

    Property consists of 3 single-family homes on one parcel. Live in one, rent the other 2 or rent all three. Close to schools, shopping, churches etc! 35 minutes to OC Beaches. No city taxes. Great investment opportunity! All three units are currently tenant occupied. 48 Hours' notice for showings. Seller will consider seller financing.

21. 2019-09-11
    soldstatus $172,241

ⓘ 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: $301 · $25/mo
• Projected year-2 tax: $886 · $74/mo
• Expected delta: +$585/yr (+$49/mo · 194.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,398
• − Mortgage interest: −$7,562
• − Property taxes: −$301
• − Insurance: −$675
• − Repairs & maintenance: −$1,392
• − Management: −$1,392
• − Depreciation: −$3,927
• Taxable income: $2,148
• Est. tax owed @ 24.0%: −$516
• After-tax cash flow: $3,757/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: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 30,088
• Household income: $71,313
• Rent vs Own: 41.8% rent · 58.2% own
• Severe rent burden: 964.0

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Black 33% Two or more races 6% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Hispanic 4% Romanian 2% Slovak 2%
• Foreign-born: 8% · Canada, China
• Languages at home: 89% English-only · Spanish 4% French/Haitian/Cajun 3% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -102.55%
• Current HPI: 232.3103
• Rent YoY: ▲ 7.21%
• 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

-21.6% since first listed

5 events — show timeline

• 2024-07-23 Listed $135,000 BRIGHT MLS
• 2024-07-23 Listed $400,000 BRIGHT MLS
• 2024-07-22 Coming Soon $135,000 BRIGHT MLS
• 2024-07-22 Coming Soon $400,000 BRIGHT MLS
• 2019-09-11 Sold (Public Records) $172,241 Public Records

Property tax history

+0.4%/yr

Latest (2025): $301 · +6.7% YoY. Source: county tax records.