23313 Sugar Maple Ct Unit 2C · Wildewood, MD 20619

$220,000

2 bd · 1.5 ba · 936 sqft · Condo public records · 4 Days on market

Built 1985 $300/mo HOA · 14% of rent

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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 +9.1/30.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• 1% rule +4.5/10.0
• Rent growth +4.2/5.0
• Schools +3.0/10.0
• DSCR +2.5/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Ground (lower) level condo in convenient Wildewood Community with access to pool and clubhouse that comes with a one year home warranty! UNIT NUMBER ON DOOR IS #826. Condo dues are $275/mo and include trash and water utilities. The assigned parking is close to the condo and guest parking spots are also nearby. Move in ready with 2 Bedrooms and 1.5 bathrooms. The primary bedroom has a WIC w/ attached half bath. The balcony backs to woods and offers a nice space to sit outside. Great investment property or first time home buyer opportunity!

Key facts

• Access to clubhouse
• Access to pool
• Assigned parking

Tags

• ACCESS TO POOL
• ACCESS TO CLUBHOUSE
• ASSIGNED PARKING
• BALCONY BACKS TO WOODS

Property features AI

Finance

• Other: Fee simple ownership; Not in a federal flood zone; Finished above-grade area reported by assessor
• HOA & community: Condo fee $450 quarterly; HOA covers exterior building maintenance, lawn maintenance, management, and insurance; Community amenities include outdoor pool, playgrounds/tot lots, bike trail, jogging/walking path, and baseball field

Exterior

• Utilities: Public water; Public sewer
• Home design: Garden-style building (1–4 floors); Unit/flat; Entry on level 1; Facing: not specified
• Construction: Brick construction; Double pane windows; Above-grade and below-grade structures
• Exterior features: Patio; Sidewalks; Street lights; Community pool; Pets allowed on a case-by-case basis

Interior

• Kitchen: Dishwasher; Disposal; Electric oven/range; Range hood; Refrigerator; Exhaust fan
• Bedrooms: Master bedroom; Bedroom 2; Bedroom 6; Two bedrooms on the main level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Heat pump heating; Electric heating fuel; Electric hot water; Electric cooling
• Interior features: Open floor plan; Combination dining and living area; Galley kitchen; Master bath; Window treatments; Sliding glass door
• Laundry & utility: Washer; Dryer; Washer/dryer stacked; Washer/dryer hookups in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $220k.

Deal economics

• At list price, monthly cash flow is $-168 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $196k (11.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (4.9% below list).
• Recommended offer: $196k (11.1% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 3.9% in Wildewood — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• St. Mary'S County Public Schools (rural): math 23% / reading 38% proficiency, ranked #8 of 24 in MD (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evergreen Elementary School (math 32% / reading 32%, grade F, #176 of 860 statewide, top 21%, 736 students, 24% FRL); Esperanza Middle (math 18% / reading 41%, grade F, #67 of 225 statewide, top 32%, 875 students, 41% FRL); Leonardtown High (math 59% / reading 76%, grade B, #48 of 222 statewide, top 22%, 2,039 students, 21% FRL) — zoned schools at 29% FRL track the district average.
• Zoned-school proficiency averages 43% at this address vs 30% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the St. Mary'S County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.7%/yr); 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 265 units permitted in St. Mary's County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($2k loan paydown + $5k appreciation (2.3% local appreciation)).
• St. Mary's County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 6, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $195,633 (11.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 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: 0.95% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.28%
• DSCR: 0.85
• GRM: 8.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.3% appreciation · 6.73% rent growth · sell at horizon

5-year hold

• IRR: 4.7%
• Equity multiple: 1.26×
• Total profit: $16,148
• Equity at exit: $90,425

10-year hold

• IRR: 10.4%
• Equity multiple: 2.58×
• Total profit: $97,255
• Equity at exit: $133,079

Cash invested: $61,600 (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 20619

• Home prices YoY: 1.0%
• Rents YoY: 6.7%
• Active inventory: 65
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,091 medium
• Mortgage (P&I): −$1,154
• Tax est. 1.5%: −$275 /mo · $3,300/yr
• Insurance: −$92
• HOA: −$300
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-168

Break-even live

Break-even rent $2,304

Max offer price $195,633

Occupancy floor —

Sensitivity live

Price	-10% $-16	-5% $-92	+0% $-168	+5% $-244	+10% $-320
Rent	-10% $-334	-5% $-251	+0% $-168	+5% $-86	+10% $-3
Rate	-1.0pp $-58	-0.5pp $-112	base $-168	+0.5pp $-225	+1.0pp $-283

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: $55,000
• Closing costs: $6,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23155 Park Place Way California, MD	1.0–3.0	1.0–2.0	1039	$2,215	$2.13	6d	1	1.33mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: watertrashpoolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-08
   historical Active Under Contract
2. 2026-05-03
   listed $220,000 Active

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

Taxation est. · year 1

• Rental income: $25,093
• − Mortgage interest: −$12,323
• − Property taxes: −$3,300
• − Insurance: −$1,100
• − Repairs & maintenance: −$2,007
• − Management: −$2,007
• − HOA: −$3,600
• − Depreciation: −$6,400
• Taxable loss: −$5,645
• Est. tax savings @ 24.0%: +$1,355
• After-tax cash flow: $-666/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: St. Mary'S County Public Schools
• NCES district ID: 2400600
• Math proficiency: 23% ▼ -23.00%
• Reading proficiency: 38% ▼ -12.00%
• Median HH income: $83,240
• Composite: 29.74/100
• National rank: #6444
• State rank: #8 of 24 in MD

Livability — Wildewood

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Wildewood, MD
• County: Saint Marys County · 48,152 people
• Metro: California-Lexington Park, MD
• Population (ZIP): 14,212
• Household income: $119,432
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 357.0

Population outlook (St. Mary's County) Hauer SSP2

• Today (2025): 123,125 people
• By 2030: 128,374 · +4.3%
• By 2040: 137,305 · +11.5%
• By 2050: 143,065 · +16.2%
• By 2075: 153,408 · +24.6%
• By 2100: 151,790 · +23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 13% Hispanic / Latino 10% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Iranian 3% Italian 3%
• Foreign-born: 7% · Canada, Jamaica, Vietnam
• Languages at home: 90% English-only · Spanish 5% Chinese 1% Tagalog/Filipino 1%

Political lean MEDSL · St. Mary's

• 2024 margin: R (+17.2) · D 40.2% · R 57.4% · Other 2.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -12.8pp · 2024: -17.2pp
• All cycles: 2024: R+17.2 2020: R+13.8 2016: R+24.6 2012: R+16.1 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.30%
• Current HPI: 239.4326
• Rent YoY: ▲ 6.73%
• Metro: California-Lexington Park, MD
• 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

2 events — show timeline

• 2026-05-08 Contingent — BRIGHT MLS
• 2026-05-03 Listed $220,000 BRIGHT MLS