523-525 Maryland Ave · Westernport, MD 21562

$75,000

4 bd · 0.0 ba · 1,524 sqft · MultiFamily · 89 Days on market

Built 1919 Fair condition 2,100 sqft lot $49/sqft · 14% below area Est $87k · 14% under ↓ 7% since listing

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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
• ARV discount +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.6/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.9/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Here is your ideal investment opportunity! Check out this charming duplex nestled in the heart of Westernport, MD! In an ideal location close to town, this property combines comfort, convenience, andpotential. Each of the spacious units features 2 bedrooms, 1 full bathroom, a living room, and a fully-equipped kitchen. Live in one unit and rent out the 2nd, or add it to your investment portfolio for steady rental income - the opportunities are endless! This property is located within a short drive of Cumberland, MD; Frostburg, MD; and Keyser, WV. Come see this fantastic opportunity today!

Key facts

• Ideal location
• Charming duplex
• 2,100 sq ft lot

Tags

• CHARMING DUPLEX
• FULLY-EQUIPPED KITCHEN
• IDEAL LOCATION

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1-bath units multifamily listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $935 ($11k/yr) — positive. Per door: $468/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#188 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: amenities F, commute F, employment D-.
• Allegany County Public Schools (other): math 15% / reading 30% proficiency, ranked #18 of 24 in MD (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Westernport Elementary (math 12% / reading 22%, grade F, #408 of 860 statewide, top 50%, 261 students, 65% FRL); Westmar Middle (math 6% / reading 30%, grade F, #165 of 225 statewide, top 75%, 232 students, 70% FRL); Mountain Ridge High School (math 32% / reading 72%, grade D+, #100 of 222 statewide, top 47%, 736 students, 48% FRL).
• Market conditions: 23 active listings in the ZIP; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($519 loan paydown + $964 appreciation (1.3% local appreciation)).
• Allegany County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (1.3% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($70k) 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: flood insurance adds $56/mo; built in 1919 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; extreme-heat days projected 8→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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.
11. 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.
12. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.55% ✓
• Cap rate: 22.14%
• Cash-on-cash: 56.61%
• DSCR: 3.52
• GRM: 3.3

CMA / ARV

• ARV (median comp): $87,162
• List price: $75,000
• Delta: -13.95%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

1.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 56.5%
• Equity multiple: 3.96×
• Total profit: $62,070
• Equity at exit: $26,722

10-year hold

• IRR: 57.7%
• Equity multiple: 7.97×
• Total profit: $146,384
• Equity at exit: $36,392

Cash invested: $21,000 (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 21562

• Home prices YoY: 0.6%
• Active inventory: 23
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,910 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $935

Break-even live

Break-even rent $726

Max offer price $75,000

Occupancy floor 46%

Sensitivity live

Price	-10% $987	-5% $961	+0% $935	+5% $909	+10% $883
Rent	-10% $784	-5% $860	+0% $935	+5% $1,010	+10% $1,086
Rate	-1.0pp $973	-0.5pp $954	base $935	+0.5pp $916	+1.0pp $896

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,910
Total (2 units)			$1,910

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 20 events

1. 2026-06-21
   days on market $75,000 Active 89 DOM
2. 2026-06-19
   days on market $75,000 Active 87 DOM
3. 2026-06-18
   days on market $75,000 Active 86 DOM
4. 2026-06-17
   days on market $75,000 Active 85 DOM
5. 2026-06-16
   days on market $75,000 Active 84 DOM
6. 2026-06-15
   days on market $75,000 Active 83 DOM
7. 2026-06-14
   days on market $75,000 Active 81 DOM
8. 2026-06-12
   days on market $75,000 Active 80 DOM
9. 2026-06-09
   days on market $75,000 Active 77 DOM
10. 2026-06-08
    days on market $75,000 Active 76 DOM
11. 2026-06-07
    days on market $75,000 Active 75 DOM
12. 2026-06-02
    days on market $75,000 Active 70 DOM
13. 2026-06-01
    days on market $75,000 Active 69 DOM
14. 2026-05-31
    days on market $75,000 Active 68 DOM
15. 2026-05-30
    days on market $75,000 Active 67 DOM
16. 2026-03-24
    listed $75,000 Active 594-char remark

    Show marketing remark (594 chars)

    Here is your ideal investment opportunity! Check out this charming duplex nestled in the heart of Westernport, MD! In an ideal location close to town, this property combines comfort, convenience, andpotential. Each of the spacious units features 2 bedrooms, 1 full bathroom, a living room, and a fully-equipped kitchen. Live in one unit and rent out the 2nd, or add it to your investment portfolio for steady rental income - the opportunities are endless! This property is located within a short drive of Cumberland, MD; Frostburg, MD; and Keyser, WV. Come see this fantastic opportunity today!

17. 2025-07-24
    historical
18. 2025-05-01
    historical Active Under Contract
19. 2025-04-08
    price $74,777
20. 2024-11-19
    listed $80,777 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 5/10 Major 8 d/yr ≥94°F today · 22 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,920
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$1,042
• − Repairs & maintenance: −$1,834
• − Management: −$1,834
• − Depreciation: −$2,182
• Taxable income: $10,703
• Est. tax owed @ 24.0%: −$2,569
• After-tax cash flow: $8,652/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.

Condition & rehab AI · 8 photos

Fair 45/100 Moderate rehab

This two-unit property in Westernport, MD, requires moderate repairs and maintenance to improve its condition and increase its value. Upgrading the kitchen and exterior, and reorganizing the living room, can significantly boost its appeal to both buyers and renters.

Repairs flagged

• Minor Kitchen cabinets — The cabinets appear to be older and could benefit from a fresh coat of paint or replacement.
• Minor Bathroom fixtures — The fixtures in the bathroom could be updated for a more modern look and functionality.
• Minor Exterior siding — The siding appears to be in fair condition, but a thorough inspection would be needed to determine if any repairs are necessary.
• Minor Landscaping — The landscaping is somewhat overgrown and could benefit from trimming and maintenance.

Value-add opportunities

• Resale Updating the kitchen cabinets and fixtures — Updating the kitchen will make it more appealing to potential buyers and increase its resale value.
• Rental Landscaping and exterior painting — A well-maintained exterior and landscaping can attract more tenants and increase rental income.
• Both Reorganizing the living room — A more organized living room can make the property more attractive and increase both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets appear to be older and could benefit from a fresh coat of paint or replacement.	Minor	$500–3,000
Bathroom fixtures · The fixtures in the bathroom could be updated for a more modern look and functionality.	Minor	$500–3,000
Exterior siding · The siding appears to be in fair condition, but a thorough inspection would be needed to determine if any repairs are necessary.	Minor	$500–3,000
Landscaping · The landscaping is somewhat overgrown and could benefit from trimming and maintenance.	Minor	$500–3,000
Total estimated repair cost · 4 items		$2,000–12,000

Value-add ROI direction

• Resale Updating the kitchen cabinets and fixtures — Updating the kitchen will make it more appealing to potential buyers and increase its resale value. ↑
• Rental Landscaping and exterior painting — A well-maintained exterior and landscaping can attract more tenants and increase rental income. ↑
• Both Reorganizing the living room — A more organized living room can make the property more attractive and increase both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Allegany County Public Schools
• NCES district ID: 2400030
• Math proficiency: 15% ▼ -26.00%
• Reading proficiency: 30% ▼ -20.00%
• Median HH income: $39,760
• Composite: 18.95/100
• National rank: #8854
• State rank: #18 of 24 in MD

Livability — Westernport

• Score: 69/100
• State rank: #188
• US rank: #8479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Westernport, MD
• Population (ZIP): 3,192

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 68,778 people
• By 2030: 66,766 · -2.9%
• By 2040: 62,784 · -8.7%
• By 2050: 59,179 · -14.0%
• By 2075: 50,732 · -26.2%
• By 2100: 40,837 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Hispanic / Latino 1%
• Common ancestry: Slovak 2% Iranian 2% Italian 1%
• Foreign-born: 0%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+40.3) · D 28.9% · R 69.2% · Other 2.0%
• 2008→2024 swing: -14.4pp toward R · 2008: -25.9pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+38.3 2016: R+48.0 2012: R+32.9 2008: R+25.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.28%
• Current HPI: 216.4044
• 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

-7.2% since first listed

5 events — show timeline

• 2026-03-24 Listed $75,000 BRIGHT MLS
• 2025-07-24 Listing Removed — BRIGHT MLS
• 2025-05-01 Contingent — BRIGHT MLS
• 2025-04-08 Price Changed $74,777 BRIGHT MLS
• 2024-11-19 Listed $80,777 BRIGHT MLS