904 Central · Cambridge, MD 21613

$170,000

4 bd · 1.0 ba · 1,188 sqft · SingleFamily public records · 40 Days on market

Built 1940 3,920 sqft lot $143/sqft · 6% below area Est $182k · 6% under

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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 +24.8/30.0
• ARV discount +10.4/15.0
• DSCR +8.0/10.0
• 1% rule +5.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investors Dream - With a little elbow grease, you could make this into a very profitable investment. There are 2 bedrooms downstairs with a living room, kitchen, bath and laundry room. Front bedroom has new carpet and back bedroom has double closets. Upstairs are two finished rooms that could be used as bedrooms with two walk-in closets between them. Two sheds on the property with cement patio and fenced rear yard. Alley runs behind the fence. Off street parking driveway to accommodate 3-4 vehicles and a small front cement porch to sit on those summer nights. Sold "AS IS"

Key facts

• Half bath
• Fenced backyard
• 3,920 sq ft lot

Tags

• LUXURY VINYL PLANK FLOORING
• NEARLY FINISHED UPPER LEVEL
• SPACE FOR TWO BEDROOMS
• HALF BATH
• ADDITIONAL CLOSET SPACE
• FENCED BACKYARD

Property features AI

Finance

• Financial info: Fee simple ownership; Ground rent paid annually

Exterior

• Parking: Gravel driveway; Driveway and off-street parking; Four driveway spaces (four total garage/parking spaces)
• Security: Window screens
• Utilities: Public water; Public sewer; Natural gas available; Electric service available; Phone and cable TV available
• Home design: Detached property; Estimated major remodel 2026; Year built estimated
• Construction: Vinyl siding; Block foundation; Architectural shingle roof
• Exterior features: Rear yard; Porch(es); Outbuilding(s); Chain link fence

Interior

• Kitchen: Gas oven/range; Refrigerator
• Bedrooms: Two main-level bedrooms; Two upper-level bedrooms
• Flooring: Luxury vinyl plank
• Bathrooms: One full bathroom on the main level; One half bathroom on the upper level
• Heating & cooling: Window air conditioning units (electric); Natural gas available for heating; Natural gas hot water
• Interior features: Traditional floor plan; Recessed lighting; Tub with shower; Storm door; Drywall walls and ceilings; Not furnished
• Laundry & utility: Washer and dryer on the main floor

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $358 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.2% in Cambridge — 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 65/100 on livability (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, crime F, employment F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Maple Elementary School (math 5% / reading 8%, grade F, #740 of 860 statewide, top 87%, 392 students, 100% FRL); Mace'S Lane Middle School (math 2% / reading 16%, grade F, #212 of 225 statewide, top 95%, 481 students, 100% FRL); Cambridge-South Dorchester High School (math 22% / reading 42%, grade F, #151 of 222 statewide, top 68%, 784 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 292 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 81 units permitted in Dorchester 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 $5k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($165k) 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.
• Current owner paid $100k; list at $170k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% 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 $164,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.05% ✓
• Cap rate: 8.82%
• Cash-on-cash: 9.02%
• DSCR: 1.40
• GRM: 7.9

CMA / ARV

• ARV (median comp): $181,772
• List price: $170,000
• Delta: -6.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
412 E Appleby Ave	0.28mi	3/1.0 (-1)	1,218 (+2%)	7mo	$235,000	$193	72
917 Springfield Ave	0.23mi	3/2.0 (-1)	1,150 (-3%)	11mo	$245,000	$213	66
1303 Colonial Ave	0.34mi	3/2.0 (-1)	1,120 (-6%)	2mo	$235,000	$210	64
402 Robbins St	0.17mi	3/1.0 (-1)	1,300 (+9%)	9mo	$105,000	$81	64
802 Fairmount Ave	0.46mi	3/1.0 (-1)	1,150 (-3%)	7mo	$135,000	$117	62
1117 High St	0.52mi	3/2.0 (-1)	1,232 (+4%)	4mo	$265,000	$215	57
631 High St	0.40mi	3/1.5 (-1)	1,260 (+6%)	10mo	$175,000	$139	56
1304 Rainbow Ave	0.39mi	3/1.0 (-1)	1,064 (-10%)	4mo	$218,000	$205	56
1207 Race St	0.26mi	3/2.0 (-1)	1,080 (-9%)	11mo	$262,500	$243	55
801 Truman St	0.41mi	3/1.0 (-1)	1,056 (-11%)	14mo	$203,000	$192	46
1114 Maces Ln	0.57mi	3/1.0 (-1)	1,040 (-12%)	3mo	$106,000	$102	46
511 Goldsborough Ave	0.44mi	3/2.0 (-1)	1,027 (-14%)	9mo	$247,450	$241	40

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: -2.7%
• Equity multiple: 0.90×
• Total profit: $-4,797
• Equity at exit: $25,348

10-year hold

• IRR: 7.0%
• Equity multiple: 1.52×
• Total profit: $24,982
• Equity at exit: $14,698

Cash invested: $47,600 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 292
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,784 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$89 /mo · $1,071/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $358

Break-even live

Break-even rent $1,331

Max offer price $170,000

Occupancy floor 75%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 Robbins St Cambridge, MD	3.0	2.0	1296	$1,800	$1.39	43d	1	0.16mi
804 Allen St Cambridge, MD	4.0	2.0	1326	$1,800	$1.36	43d	1	0.26mi
1507 Race St Cambridge, MD	3.0	1.0	1260	$1,695	$1.35	43d	1	0.58mi

Listing history 21 events

1. 2026-06-18
   days on market $170,000 Active 40 DOM
2. 2026-06-17
   days on market $170,000 Active 39 DOM
3. 2026-06-16
   days on market $170,000 Active 38 DOM
4. 2026-06-15
   days on market $170,000 Active 37 DOM
5. 2026-06-13
   days on market $170,000 Active 35 DOM
6. 2026-06-12
   days on market $170,000 Active 34 DOM
7. 2026-06-09
   days on market $170,000 Active 31 DOM
8. 2026-06-08
   days on market $170,000 Active 30 DOM
9. 2026-06-07
   days on market $170,000 Active 29 DOM
10. 2026-06-07
    days on market $170,000 Active 28 DOM
11. 2026-06-04
    days on market $170,000 Active 25 DOM
12. 2026-06-02
    days on market $170,000 Active 24 DOM
13. 2026-06-01
    days on market $170,000 Active 23 DOM
14. 2026-05-31
    days on market $170,000 Active 22 DOM
15. 2026-05-31
    days on market $170,000 Active 21 DOM
16. 2026-05-09
    listed $170,000 Active 1615-char remark
17. 2025-01-30
    soldstatus $100,000
18. 2025-01-21
    soldstatus $100,000 Closed 588-char remark

    Show marketing remark (588 chars)

    Investors Dream - With a little elbow grease, you could make this into a very profitable investment. There are 2 bedrooms downstairs with a living room, kitchen, bath and laundry room. Front bedroom has new carpet and back bedroom has double closets. Upstairs are two finished rooms that could be used as bedrooms with two walk-in closets between them. Two sheds on the property with cement patio and fenced rear yard. Alley runs behind the fence. Off street parking driveway to accommodate 3-4 vehicles and a small front cement porch to sit on those summer nights. Sold "AS IS"

19. 2024-12-31
    status Pending 588-char remark

    Show marketing remark (588 chars)

    Investors Dream - With a little elbow grease, you could make this into a very profitable investment. There are 2 bedrooms downstairs with a living room, kitchen, bath and laundry room. Front bedroom has new carpet and back bedroom has double closets. Upstairs are two finished rooms that could be used as bedrooms with two walk-in closets between them. Two sheds on the property with cement patio and fenced rear yard. Alley runs behind the fence. Off street parking driveway to accommodate 3-4 vehicles and a small front cement porch to sit on those summer nights. Sold "AS IS"

20. 2024-11-19
    listed $130,000 Active 588-char remark

    Show marketing remark (588 chars)

    Investors Dream - With a little elbow grease, you could make this into a very profitable investment. There are 2 bedrooms downstairs with a living room, kitchen, bath and laundry room. Front bedroom has new carpet and back bedroom has double closets. Upstairs are two finished rooms that could be used as bedrooms with two walk-in closets between them. Two sheds on the property with cement patio and fenced rear yard. Alley runs behind the fence. Off street parking driveway to accommodate 3-4 vehicles and a small front cement porch to sit on those summer nights. Sold "AS IS"

21. 1983-06-29
    soldstatus $25,000

ⓘ 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: $1,071 · $89/mo
• Projected year-2 tax: $1,462 · $122/mo
• Expected delta: +$391/yr (+$33/mo · 36.5%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% 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: $21,410
• − Mortgage interest: −$9,523
• − Property taxes: −$1,071
• − Insurance: −$850
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$4,945
• Taxable income: $1,596
• Est. tax owed @ 24.0%: −$383
• After-tax cash flow: $3,913/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• Rent YoY: —
• Metro: —
• 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

+580.0% since first listed

6 events — show timeline

• 2026-05-09 Listed $170,000 BRIGHT MLS
• 2025-01-30 Sold (Public Records) $100,000 Public Records
• 2025-01-21 Sold (MLS) $100,000 BRIGHT MLS
• 2024-12-31 Pending — BRIGHT MLS
• 2024-11-19 Listed $130,000 BRIGHT MLS
• 1983-06-29 Sold (Public Records) $25,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,071 · +10.5% YoY. Source: county tax records.