12108 Coastal Hwy Unit 102A · Ocean City, MD 21842

$35,000

2 bd · 2.0 ba · 1,093 sqft · Timeshare · 48 Days on market

Built 1987 $32/sqft · at area comps Est $34k · at est. $600/mo HOA · 24% of rent ↓ 22% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +6.4/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• 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

You own 13 weeks, there is a rotating schedule. The condo fee includes taxes, insurance, cleaning between owners, electric, internet, appliance repair/replacement. There is a large sun deck with an outdoor pool. Can't use your weeks, you are free to rent any weeks you will not be using.

Key facts

• Outdoor pool
• Open floor plan
• Recessed lighting

Tags

• OPEN FLOOR PLAN
• ENERGY EFFICIENT APPLIANCES
• OUTDOOR POOL
• RECESSED LIGHTING
• WET DRY BAR
• SPRINKLER SYSTEM

Property features AI

Finance

• Other: Ownership interest: Timeshare; Property condition: Excellent; No basement; Navigable water and water-oriented property
• HOA & community: Professional on-site and off-site management; Monthly condo/coop fee ($600) covering air conditioning, appliance maintenance, broadband/fiber, common area maintenance, custodial services, electricity, exterior building maintenance, heat, high-speed internet, insurance, laundry, management, pest control, pool(s), reserve funds, snow removal, taxes, trash and water; Association amenities include common grounds, elevator, extra storage, outdoor pool, reserved/assigned parking and satellite TV; Property manager present

Exterior

• Parking: Covered parking in a side-entry garage; Parking garage and on-street parking available; 54 garage/parking spaces total; Handicap parking, lighted and paved parking, unassigned spaces; Reserved/assigned parking available through the association
• Utilities: Public water and public sewer; Electric available with 200+ amp service; Fiber optic and fixed wireless internet service; Underground utilities available
• Home design: Garden-style building (1–4 floors), unit is single-floor; Unit/Flat structure in a 4-story building named The Quarters; Main entrance faces west; Level entry with no stairs; 36"+ wide halls (accessible)
• Construction: Built with block, cement siding and concrete; Metal roof; Pillar/post/pier foundation; Low-E windows with screens; Building not winterized
• Exterior features: Exterior lighting; Outside shower; Satellite dish; Sidewalks; Community outdoor pool (fenced, gunite); Water view and ocean access (Atlantic Ocean) with public beach, swimming and fishing allowed; In city limits on ocean block; Access roads on grade and blacktop; Bus stop within one mile

Interior

• Kitchen: Built-in microwave; Dishwasher; Disposal; Icemaker; Self-cleaning oven; Electric range/oven; Refrigerator
• Bedrooms: Two bedrooms on the main level
• Flooring: Carpet; Luxury vinyl plank; Ceramic tile
• Bathrooms: Two full bathrooms (including walk-in shower in at least one)
• Heating & cooling: Heat pump with electric backup; Electric heating fuel; Electric hot water; Cooling: Other (electric fuel)
• Interior features: Open floor plan with recessed lighting; Elevator access; Entry-level bedroom; Combination dining/living area and combination kitchen/dining; Breakfast area and eat-in kitchen; Family room off the kitchen; Wet/dry bar; Master bath(s) with walk-in shower; Tub/shower; Sprinkler system; Insulated, six-panel, and sliding glass doors; Drywall walls and ceilings; Furnished
• Laundry & utility: Washer and ENERGY STAR clothes washer; Dryer - electric; Washer/dryer stacked; Washer/dryer hookup in unit; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath timeshare listed at $35k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 44.1% vs local median 1.4% in Ocean 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 73/100 on livability (#125 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, schools B+; Watch: cost of living C-, crime 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: 673 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).
• This rent runs 37% of the median local income ($80k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $242 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 48 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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: HOA is 24% of rent.
• Climate carrying-cost: 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 $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 7.03% ✓
• Cap rate: 44.10%
• Cash-on-cash: 135.02%
• DSCR: 7.01
• GRM: 1.2

CMA / ARV

• ARV (median comp): $34,201
• List price: $35,000
• Delta: 2.34%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12108 Coastal Hwy #104	0.00mi	2/2.0	1,093 (0%)	20mo	$35,000	$32	83
12108 Coastal Hwy #401	0.00mi	2/2.0	1,093 (0%)	22mo	$35,000	$32	82

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: —
• Equity multiple: 7.63×
• Total profit: $64,964
• Equity at exit: $5,219

10-year hold

• IRR: —
• Equity multiple: 16.17×
• Total profit: $148,651
• Equity at exit: $3,026

Cash invested: $9,800 (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 21842

• Home prices YoY: -5.0%
• Active inventory: 673
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $2,461 medium
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$600
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $1,103

Break-even live

Break-even rent $1,066

Max offer price $35,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,127	-5% $1,115	+0% $1,103	+5% $1,091	+10% $1,078
Rent	-10% $908	-5% $1,005	+0% $1,103	+5% $1,200	+10% $1,297
Rate	-1.0pp $1,120	-0.5pp $1,112	base $1,103	+0.5pp $1,094	+1.0pp $1,084

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 Newport Bay Dr Unit 117C Ocean City, MD	3.0	2.0	936	$2,700	$2.88	45d	1	0.34mi
9207 Rusty Anchor Rd Ocean City, MD	3.0	2.0	1200	$2,500	$2.08	45d	1	1.36mi
745 Mooring Rd #103 Ocean City, MD	2.0	2.0	792	$2,500	$3.16	45d	1	1.50mi

HOA detail

• Monthly dues: $600 · $7,200/yr
• Likely covers: electricinternetpool

Listing history 22 events

1. 2026-06-18
   days on market $35,000 Active 48 DOM
2. 2026-06-17
   days on market $35,000 Active 47 DOM
3. 2026-06-16
   days on market $35,000 Active 46 DOM
4. 2026-06-15
   days on market $35,000 Active 45 DOM
5. 2026-06-14
   days on market $35,000 Active 43 DOM
6. 2026-06-13
   days on market $35,000 Active 42 DOM
7. 2026-06-10
   days on market $35,000 Active 40 DOM
8. 2026-06-09
   days on market $35,000 Active 39 DOM
9. 2026-06-08
   days on market $35,000 Active 38 DOM
10. 2026-06-07
    days on market $35,000 Active 37 DOM
11. 2026-06-02
    days on market $35,000 Active 32 DOM
12. 2026-06-01
    days on market $35,000 Active 31 DOM
13. 2026-05-31
    days on market $35,000 Active 30 DOM
14. 2026-05-30
    days on market $35,000 Active 29 DOM
15. 2026-05-01
    listed $35,000 Active 1454-char remark
16. 2022-09-05
    soldstatus $31,000 Closed 287-char remark

    Show marketing remark (287 chars)

    You own 13 weeks, there is a rotating schedule. The condo fee includes taxes, insurance, cleaning between owners, electric, internet, appliance repair/replacement. There is a large sun deck with an outdoor pool. Can't use your weeks, you are free to rent any weeks you will not be using.

17. 2022-08-23
    status Pending 287-char remark

    Show marketing remark (287 chars)

    You own 13 weeks, there is a rotating schedule. The condo fee includes taxes, insurance, cleaning between owners, electric, internet, appliance repair/replacement. There is a large sun deck with an outdoor pool. Can't use your weeks, you are free to rent any weeks you will not be using.

18. 2022-08-19
    listed $30,000 Active 287-char remark

    Show marketing remark (287 chars)

    You own 13 weeks, there is a rotating schedule. The condo fee includes taxes, insurance, cleaning between owners, electric, internet, appliance repair/replacement. There is a large sun deck with an outdoor pool. Can't use your weeks, you are free to rent any weeks you will not be using.

19. 2015-07-17
    soldstatus $28,000

    Show marketing remark (277 chars)

    Thirteen week timeshare covering every season of the year. Newly redecorated, fireplace, private storage, pool. Two covered parking spaces. Condo fee covers all expenses of this truly carefree property. You can also bank your weeks with RCI for hundreds of travel options. WOW!

20. 2014-01-26
    listed $28,500

    Show marketing remark (277 chars)

    Thirteen week timeshare covering every season of the year. Newly redecorated, fireplace, private storage, pool. Two covered parking spaces. Condo fee covers all expenses of this truly carefree property. You can also bank your weeks with RCI for hundreds of travel options. WOW!

21. 2012-09-30
    historical
22. 2010-10-01
    listed $45,000

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 12% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,538
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$2,363
• − Management: −$2,363
• − HOA: −$7,200
• − Depreciation: −$1,018
• Taxable income: $13,933
• Est. tax owed @ 24.0%: −$3,344
• After-tax cash flow: $9,888/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 — Ocean City

• Score: 73/100
• State rank: #125
• US rank: #5407

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean City, MD
• County: Worcester County · 35,603 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 11,226
• Household income: $79,876
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 322.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Russian/Polish/Slavic 3% Other Indo-European 2%

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: ▼ -25.65%
• Current HPI: 482.18
• Rent YoY: —
• Metro: Salisbury, MD-DE
• 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

-22.2% since first listed

8 events — show timeline

• 2026-05-01 Listed $35,000 BRIGHT MLS
• 2022-09-05 Sold (MLS) $31,000 BRIGHT MLS
• 2022-08-23 Pending — BRIGHT MLS
• 2022-08-19 Listed $30,000 BRIGHT MLS
• 2015-07-17 Sold (MLS) $28,000 BRIGHT MLS
• 2014-01-26 Listed $28,500 BRIGHT MLS
• 2012-09-30 Listing Removed — BRIGHT MLS
• 2010-10-01 Listed $45,000 BRIGHT MLS