1607 Steamboat Wharf Rd · Fishing Creek, MD 21634

$49,900

2 bd · 1.0 ba · 1,124 sqft · SingleFamily public records · 7 Days on market

Built 1910 0.85 ac lot Est $45k · 11% over

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.8/10.0
• ARV discount +2.6/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Livability +2.1/5.0
• Schools +1.5/10.0

Listing remarks MLS

REDUCED! This is a nice older home on beautiful Hoopers Island. Large yard, newer well and septic. Great get away! Buyer to pay all necessary transfer and recordation taxes.

Key facts

• Expansive yard
• 2 level colonial
• 0.85 acre lot

Tags

• 2 LEVEL COLONIAL
• EXPANSIVE YARD
• SEPARATE STORAGE SHED

Property features AI

Finance

• Other: Ownership is fee simple

Exterior

• Parking: Driveway parking
• Utilities: Private water; Private septic tank
• Home design: Detached property; Not located within city limits; Directions: Head south on Hoopersville Road, turn onto Steamboat Wharf Road; 1607 Steamboat Wharf Rd will be a short distance down on your left
• Construction: Asbestos construction materials; Crawl space foundation; Above-grade and below-grade structures noted; Year built estimated
• Exterior features: Water view; Water-oriented property on a bay; Detached shed on the property

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Oil heating; Oil hot water system
• Interior features: Has two fireplaces

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $53 ($636/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).

Location & tenants

• Location reads 42/100 on livability (#486 in MD) — a working-class tenant base; expect higher turnover. Watch: schools F, crime D-, amenities 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.
• Market conditions: 21 active listings in the ZIP; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($345 loan paydown + $756 appreciation (1.5% local appreciation)).
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (1.5% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 14 sale attempts since 22y 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 $33k; list at $50k implies a 51% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1910 — 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; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,900

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 D 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: 2.09% ✓
• Cap rate: 17.82%
• Cash-on-cash: 41.18%
• DSCR: 2.83
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $44,960
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1607 Steamboat Wharf Rd	0.00mi	2/1.0	1,124 (0%)	0mo	$44,900	$40	100

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

Projected returns pro-forma

1.51% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.42×
• Total profit: $5,853
• Equity at exit: $18,385

10-year hold

• IRR: 11.9%
• Equity multiple: 2.54×
• Total profit: $21,534
• Equity at exit: $25,511

Cash invested: $13,972 (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 21634

• Home prices YoY: 0.5%
• Active inventory: 21
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,041 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$61 /mo · $727/yr
• Insurance: −$21
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $53

Break-even live

Break-even rent $974

Max offer price $49,900

Occupancy floor 90%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Listing history 47 events

1. 2026-06-03
   status $49,900 Pending 7 DOM
2. 2026-06-02
   days on market $49,900 Active 7 DOM
3. 2026-06-01
   days on market $49,900 Active 6 DOM
4. 2026-05-31
   days on market $49,900 Active 5 DOM
5. 2026-05-31
   days on market $49,900 Active 4 DOM
6. 2026-05-26
   listed $49,900 Active
7. 2016-05-05
   historical 174-char remark

   Show marketing remark (174 chars)

   REDUCED! This is a nice older home on beautiful Hoopers Island. Large yard, newer well and septic. Great get away! Buyer to pay all necessary transfer and recordation taxes.

8. 2016-05-04
   soldstatus $33,000 Sold 174-char remark

   Show marketing remark (174 chars)

   REDUCED! This is a nice older home on beautiful Hoopers Island. Large yard, newer well and septic. Great get away! Buyer to pay all necessary transfer and recordation taxes.

9. 2016-05-04
   soldstatus $33,000 174-char remark

   Show marketing remark (174 chars)

   REDUCED! This is a nice older home on beautiful Hoopers Island. Large yard, newer well and septic. Great get away! Buyer to pay all necessary transfer and recordation taxes.

10. 2016-04-05
    status Contingent (No Kick Out) 174-char remark

    Show marketing remark (174 chars)

    REDUCED! This is a nice older home on beautiful Hoopers Island. Large yard, newer well and septic. Great get away! Buyer to pay all necessary transfer and recordation taxes.

11. 2016-03-16
    price $34,900 174-char remark

    Show marketing remark (174 chars)

    REDUCED! This is a nice older home on beautiful Hoopers Island. Large yard, newer well and septic. Great get away! Buyer to pay all necessary transfer and recordation taxes.

12. 2016-02-12
    listed $44,900 Active 174-char remark

    Show marketing remark (174 chars)

    REDUCED! This is a nice older home on beautiful Hoopers Island. Large yard, newer well and septic. Great get away! Buyer to pay all necessary transfer and recordation taxes.

13. 2014-07-01
    historical Expired
14. 2014-07-01
    historical
15. 2013-07-03
    listed Active
16. 2013-07-03
    listed $126,500
17. 2012-08-27
    historical Withdrawn
18. 2012-08-27
    historical
19. 2012-05-14
    price
20. 2012-02-10
    listed Active
21. 2012-02-10
    listed $135,000
22. 2011-09-23
    historical Withdrawn
23. 2011-09-23
    historical
24. 2011-06-30
    price
25. 2011-03-20
    status Active
26. 2011-03-16
    historical Expired
27. 2010-12-04
    price Active
28. 2010-12-04
    status Active
29. 2010-10-12
    historical
30. 2010-06-04
    price
31. 2010-05-27
    price
32. 2010-03-15
    listed Active
33. 2010-03-15
    listed $139,999
34. 2009-09-17
    historical
35. 2009-09-17
    historical
36. 2009-04-24
    price
37. 2009-03-17
    status
38. 2009-03-17
    historical
39. 2008-10-18
    price
40. 2008-09-16
    listed
41. 2008-09-16
    listed $164,900
42. 2006-03-16
    soldstatus $121,500
43. 2006-03-15
    soldstatus $121,500
44. 2006-01-14
    historical
45. 2004-11-30
    listed $124,900
46. 1987-02-10
    soldstatus $30,000
47. 1985-04-10
    soldstatus $35,000

ⓘ 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: $727 · $61/mo
• Projected year-2 tax: $727 · $61/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥101°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,495
• − Mortgage interest: −$2,795
• − Property taxes: −$727
• − Insurance: −$5,368
• − Repairs & maintenance: −$1,000
• − Management: −$1,000
• − Depreciation: −$1,452
• Taxable income: $154
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $599/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 — Fishing Creek

• Score: 42/100
• State rank: #486
• US rank: #26979

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 394

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: Predominantly White (99%)
• Race & ethnicity: White 99% Two or more races 1%
• Common ancestry: Serbian 5% Lithuanian 3% Romanian 2%
• Foreign-born: 2%
• Languages at home: 97% English-only · Spanish 3%

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: ▲ 1.51%
• Current HPI: 305.1996
• 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

+42.6% since first listed

42 events — show timeline

• 2026-05-26 Listed $49,900 BRIGHT MLS
• 2016-05-05 Delisted — MRIS
• 2016-05-04 Sold (MLS) $33,000 BRIGHT MLS
• 2016-05-04 Sold (MLS) $33,000 MRIS
• 2016-04-05 Pending — MRIS
• 2016-03-16 Price Changed $34,900 MRIS
• 2016-02-12 Listed $44,900 MRIS
• 2014-07-01 Delisted — MRIS
• 2014-07-01 Listing Removed — BRIGHT MLS
• 2013-07-03 Listed — MRIS
• 2013-07-03 Listed $126,500 BRIGHT MLS
• 2012-08-27 Delisted — MRIS
• 2012-08-27 Listing Removed — BRIGHT MLS
• 2012-05-14 Price Changed — MRIS
• 2012-02-10 Listed — MRIS
• 2012-02-10 Listed $135,000 BRIGHT MLS
• 2011-09-23 Delisted — MRIS
• 2011-09-23 Listing Removed — BRIGHT MLS
• 2011-06-30 Price Changed — MRIS
• 2011-03-20 Relisted — MRIS
• 2011-03-16 Delisted — MRIS
• 2010-12-04 Relisted — MRIS
• 2010-12-04 Price Changed — MRIS
• 2010-10-12 Delisted — MRIS
• 2010-06-04 Price Changed — MRIS
• 2010-05-27 Price Changed — MRIS
• 2010-03-15 Listed — MRIS
• 2010-03-15 Listed $139,999 BRIGHT MLS
• 2009-09-17 Delisted — MRIS
• 2009-09-17 Listing Removed — BRIGHT MLS
• 2009-04-24 Price Changed — MRIS
• 2009-03-17 Relisted — MRIS
• 2009-03-17 Delisted — MRIS
• 2008-10-18 Price Changed — MRIS
• 2008-09-16 Listed — MRIS
• 2008-09-16 Listed $164,900 BRIGHT MLS
• 2006-03-16 Sold (Public Records) $121,500 Public Records
• 2006-03-15 Sold (MLS) $121,500 MRIS
• 2006-01-14 Delisted — MRIS
• 2004-11-30 Listed $124,900 MRIS
• 1987-02-10 Sold (Public Records) $30,000 Public Records
• 1985-04-10 Sold (Public Records) $35,000 Public Records

Property tax history

+1.2%/yr

Latest (2025): $727 · +8.2% YoY. Source: county tax records.