7184 Parsonsburg Rd · Parsonsburg, MD 21849

$135,000

3 bd · 1.0 ba · 980 sqft · Manufactured public records · 51 Days on market

Built 2012 1.00 ac lot $138/sqft · 29% below area Est $190k · 29% 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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +5.2/10.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

corner/ commercial lot with great visibility/ located on the corner of Parsonsburg & Old Ocean City Rd.

Key facts

• 1 acre lot
• Built 2012
• Listed 51 days

Property features AI

Exterior

• Parking: Driveway
• Utilities: Well water; On-site septic; Electric hot water
• Home design: Manufactured home; Fee simple ownership
• Construction: Aluminum siding
• Exterior features: Not located in a federal flood zone; Tidal water not present

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Heat pump(s) heating; Electric cooling
• Interior features: No basement; Living area per assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $270 ($3k/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: $131k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 55/100 on livability (#414 in MD) — a working-class tenant base; expect higher turnover. Strengths: housing A, cost of living B; Watch: schools F, 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: 24 active listings in the ZIP; 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.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 17y 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 $11k; list at $135k implies a 1127% gain — meaningful room to come down on a strong offer.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.02% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.58%
• DSCR: 1.38
• GRM: 8.2

CMA / ARV

• ARV (median comp): $190,022
• List price: $135,000
• Delta: -28.96%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-4,706
• Equity at exit: $20,129

10-year hold

• IRR: 6.3%
• Equity multiple: 1.47×
• Total profit: $17,864
• 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 21849

• Home prices YoY: -5.5%
• Active inventory: 24
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,371 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$49 /mo · $585/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $270

Break-even live

Break-even rent $1,029

Max offer price $135,000

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

Listing history 24 events

1. 2026-06-18
   days on market $135,000 Active 51 DOM
2. 2026-06-17
   days on market $135,000 Active 50 DOM
3. 2026-06-16
   days on market $135,000 Active 49 DOM
4. 2026-06-15
   days on market $135,000 Active 48 DOM
5. 2026-06-14
   days on market $135,000 Active 46 DOM
6. 2026-06-13
   days on market $135,000 Active 45 DOM
7. 2026-06-10
   days on market $135,000 Active 43 DOM
8. 2026-06-09
   days on market $135,000 Active 42 DOM
9. 2026-06-08
   days on market $135,000 Active 41 DOM
10. 2026-06-07
    days on market $135,000 Active 40 DOM
11. 2026-06-03
    days on market $135,000 Active 36 DOM
12. 2026-06-02
    days on market $135,000 Active 35 DOM
13. 2026-06-01
    days on market $135,000 Active 34 DOM
14. 2026-05-31
    days on market $135,000 Active 33 DOM
15. 2026-05-30
    days on market $135,000 Active 32 DOM
16. 2026-04-28
    listed $135,000 Active 138-char remark
17. 2011-09-19
    soldstatus $11,000 109-char remark

    Show marketing remark (109 chars)

    corner/ commercial lot with great visibility/ located on the corner of Parsonsburg & Old Ocean City Rd.

18. 2010-10-01
    listed $36,000 109-char remark

    Show marketing remark (109 chars)

    corner/ commercial lot with great visibility/ located on the corner of Parsonsburg & Old Ocean City Rd.

19. 2010-01-01
    historical Expired
20. 2010-01-01
    historical
21. 2009-12-31
    historical
22. 2009-08-03
    listed Active
23. 2009-08-03
    listed $54,900
24. 2009-03-11
    listed $54,900

ⓘ 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: $585 · $49/mo
• Projected year-2 tax: $1,028 · $86/mo
• Expected delta: +$443/yr (+$37/mo · 75.8%)

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

Taxation est. · year 1

• Rental income: $16,456
• − Mortgage interest: −$7,562
• − Property taxes: −$585
• − Insurance: −$675
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$3,927
• Taxable income: $1,074
• Est. tax owed @ 24.0%: −$258
• After-tax cash flow: $2,987/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 — Parsonsburg

• Score: 55/100
• State rank: #414
• US rank: #23152

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Parsonsburg, MD
• Population (ZIP): 3,845

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: Predominantly White (86%)
• Race & ethnicity: White 86% Black 8% Two or more races 5%
• Common ancestry: Russian 7% Italian 4% Slovak 2%
• Foreign-born: 1% · China
• Languages at home: 99% English-only · Chinese 1%

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: ▼ -14.76%
• Current HPI: 251.638
• 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

+145.9% since first listed

9 events — show timeline

• 2026-04-28 Listed $135,000 BRIGHT MLS
• 2011-09-19 Sold (MLS) $11,000 BRIGHT MLS
• 2010-10-01 Listed $36,000 BRIGHT MLS
• 2010-01-01 Delisted — MRIS
• 2010-01-01 Listing Removed — BRIGHT MLS
• 2009-12-31 Listing Removed — BRIGHT MLS
• 2009-08-03 Listed — MRIS
• 2009-08-03 Listed $54,900 BRIGHT MLS
• 2009-03-11 Listed $54,900 BRIGHT MLS

Property tax history

+2.1%/yr

Latest (2025): $585 · -0.8% YoY. Source: county tax records.