1335 Colona Rd · Pocomoke City, MD 21851

$85,000

3 bd · 1.5 ba · 1,360 sqft · SingleFamily public records · 109 Days on market

Built 1930 2.31 ac lot $62/sqft · 64% below area

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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
• ARV discount +7.5/15.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home being sold as is where is. Well and septic on site. Septic install just before home was vacated. Both were in good working order at time the home was vacated. Fix the home up or rebuild. Just a few minutes out of town. Easy commute to NASA/Wallops Flight Facility. Use caution when entering home. House is sturdy and sound, but enter at your own risk.

Key facts

• 2.31 acre lot
• Built 1930
• Listed 109 days

Tags

• WELL AND SEPTIC ON SITE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $455 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.7% vs local median 5.6% in Pocomoke City — 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 71/100 on livability (#157 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D+, crime F, amenities F.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 69 active listings in the ZIP; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $15k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $85k implies a 608% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — 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→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 2.16% ✓
• Cap rate: 18.74%
• Cash-on-cash: 44.47%
• DSCR: 2.98
• GRM: 3.9

CMA / ARV

• ARV (median comp): $237,524
• List price: $85,000
• Delta: -64.21%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 16.2%
• Equity multiple: 1.65×
• Total profit: $15,509
• Equity at exit: $12,674

10-year hold

• IRR: 24.9%
• Equity multiple: 3.18×
• Total profit: $51,981
• Equity at exit: $7,349

Cash invested: $23,800 (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 21851

• Home prices YoY: -4.0%
• Active inventory: 69
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,834 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$86 /mo · $1,028/yr
• Insurance: −$35
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $455

Break-even live

Break-even rent $1,257

Max offer price $85,000

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $85,000 Active 109 DOM
2. 2026-06-17
   days on market $85,000 Active 108 DOM
3. 2026-06-16
   days on market $85,000 Active 107 DOM
4. 2026-06-15
   days on market $85,000 Active 106 DOM
5. 2026-06-14
   days on market $85,000 Active 104 DOM
6. 2026-06-13
   days on market $85,000 Active 103 DOM
7. 2026-06-10
   days on market $85,000 Active 101 DOM
8. 2026-06-09
   days on market $85,000 Active 100 DOM
9. 2026-06-08
   days on market $85,000 Active 99 DOM
10. 2026-06-07
    pricedays on market $85,000 Active 98 DOM
11. 2026-06-02
    days on market $95,000 Active 93 DOM
12. 2026-06-01
    days on market $95,000 Active 92 DOM
13. 2026-05-31
    days on market $95,000 Active 91 DOM
14. 2026-05-30
    days on market $95,000 Active 90 DOM
15. 2026-03-28
    price $95,000 356-char remark

    Show marketing remark (356 chars)

    Home being sold as is where is. Well and septic on site. Septic install just before home was vacated. Both were in good working order at time the home was vacated. Fix the home up or rebuild. Just a few minutes out of town. Easy commute to NASA/Wallops Flight Facility. Use caution when entering home. House is sturdy and sound, but enter at your own risk.

16. 2026-03-01
    listed $99,900 Active 356-char remark

    Show marketing remark (356 chars)

    Home being sold as is where is. Well and septic on site. Septic install just before home was vacated. Both were in good working order at time the home was vacated. Fix the home up or rebuild. Just a few minutes out of town. Easy commute to NASA/Wallops Flight Facility. Use caution when entering home. House is sturdy and sound, but enter at your own risk.

17. 2018-03-14
    soldstatus $12,000 368-char remark

    Show marketing remark (368 chars)

    LOOKING FOR A HOME NEAR THE BEACH & HAVE HANDYMAN SKILLS? THEN THIS JUST MAY BE THE HOME FOR YOU! NESTLED ON 2 ACRES IN WORCESTER COUNTY THIS PROPERTY IS CLOSE TO THE SCENIC POCOMOKE RIVER & BOAT RAMP AND CONVENIENT TO CHINCOTEAGUE, NASA WALLOPS FLIGHT FACILITY AND OCEAN CITY, MD, TOO! SEPTIC SYSTEM DESIGNED FOR A 2 BEDROOM HOME. PROPERTY SOLD ''AS IS''

18. 2018-02-20
    listed $18,900 368-char remark

    Show marketing remark (368 chars)

    LOOKING FOR A HOME NEAR THE BEACH & HAVE HANDYMAN SKILLS? THEN THIS JUST MAY BE THE HOME FOR YOU! NESTLED ON 2 ACRES IN WORCESTER COUNTY THIS PROPERTY IS CLOSE TO THE SCENIC POCOMOKE RIVER & BOAT RAMP AND CONVENIENT TO CHINCOTEAGUE, NASA WALLOPS FLIGHT FACILITY AND OCEAN CITY, MD, TOO! SEPTIC SYSTEM DESIGNED FOR A 2 BEDROOM HOME. PROPERTY SOLD ''AS IS''

ⓘ 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: $1,028 · $86/mo
• Projected year-2 tax: $1,028 · $86/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 6/10 Major FEMA zone AE · 55% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥101°F today · 18 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: $22,007
• − Mortgage interest: −$4,761
• − Property taxes: −$1,028
• − Insurance: −$5,544
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$2,473
• Taxable income: $4,680
• Est. tax owed @ 24.0%: −$1,123
• After-tax cash flow: $4,342/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: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

Livability — Pocomoke City

• Score: 71/100
• State rank: #157
• US rank: #7066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,252

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 54% Black 37% Two or more races 5% Asian 2% Hispanic / Latino 2%
• Common ancestry: Scandinavian 2% Romanian 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada, Dominican Republic, Mexico
• Languages at home: 93% English-only · Other Asian/Pacific 1% Spanish 1% Vietnamese 1%

Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.03%
• Current HPI: 243.2329
• 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

+402.6% since first listed

4 events — show timeline

• 2026-03-28 Price Changed $95,000 BRIGHT MLS
• 2026-03-01 Listed $99,900 BRIGHT MLS
• 2018-03-14 Sold (MLS) $12,000 BRIGHT MLS
• 2018-02-20 Listed $18,900 BRIGHT MLS

Property tax history

+6.2%/yr

Latest (2025): $1,028 · +11.9% YoY. Source: county tax records.