4249 Chestnut Ridge Rd · Salisbury, PA 21536

$160,000

3 bd · 1.0 ba · 1,448 sqft · SingleFamily public records · 9 Days on market

Built 1974 0.46 ac lot Est $229k · 30% under

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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 +24.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.1/10.0
• 1% rule +5.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks

Presenting a beautifully upgraded duplex just listed for sale—a rare blend of modern comfort and solid investment potential. This newly remodeled property features two units: a 1 bed / 1 bath and a 2 bed / 1 bath, each with its own dedicated utilities and separate metering for energy efficiency and easier property management. Thoughtful upgrades throughout include upgraded kitchens with contemporary finishes, bright, airy interiors thanks to newer windows, and a durable metal roof designed for longevity and peace of mind. A spacious basement provides flexible storage or potential for future finishing. Privacy and independence are at the forefront with separate entrances and distinct l

Key facts

• 0.46 acre lot
• 2 parking spots
• Built 1974

Property features AI

Finance

• Other: Fee simple ownership; Assessor lists 1,448 finished above-grade square feet and 80 unfinished below-grade square feet

Exterior

• Parking: Driveway parking for two vehicles; Two total garage and parking spaces
• Utilities: 200+ amp electric service; Electric hot water
• Home design: Detached structure; Frame construction
• Construction: Block foundation; Above-grade and below-grade structures
• Exterior features: Septic system on site; Well water supply; No tidal water

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Baseboard electric heating; Ceiling fan cooling
• Interior features: Unfinished basement; Living area source listed as assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Cap rate 8.8% vs local median 2.6% in Salisbury — 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 68/100 on livability (#919 in PA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• Garrett County Public Schools (rural): math 17% / reading 30% proficiency, ranked #16 of 24 in MD (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Grantsville Elementary (math 12% / reading 12%, grade F, #550 of 860 statewide, top 66%, 171 students, 59% FRL); Northern Middle School (math 16% / reading 37%, grade F, #86 of 225 statewide, top 40%, 320 students, 39% FRL); Northern Garrett High School (math 42% / reading 77%, grade C+, #73 of 222 statewide, top 34%, 439 students, 37% FRL).
• Market conditions: 122 units permitted in Garrett County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Garrett County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $160,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.11%
• DSCR: 1.41
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $228,784
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4376 Chestnut Ridge Rd	0.16mi	3/1.0	1,420 (-2%)	11mo	$225,000	$158	80
4229 Chestnut Ridge Rd	0.02mi	4/2.0 (+1)	1,512 (+4%)	15mo	$210,000	$139	71
4720 Chestnut Ridge Rd	0.45mi	3/2.0	1,496 (+3%)	7mo	$274,900	$184	63

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 30.9%
• Equity multiple: 3.43×
• Total profit: $108,743
• Equity at exit: $144,141

10-year hold

• IRR: 26.7%
• Equity multiple: 7.77×
• Total profit: $303,100
• Equity at exit: $310,845

Cash invested: $44,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Pennsylvania: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

10-day notice; Philadelphia has eviction-court diversion + some protections; otherwise moderate.

Methodology + full state rankings →

ZIP-level market 21536

• Home prices YoY: 10.3%
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,673 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$76 /mo · $909/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $340

Break-even live

Break-even rent $1,242

Max offer price $160,000

Occupancy floor 75%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-06-18
   days on market $160,000 Active 9 DOM
2. 2026-06-17
   days on market $160,000 Active 8 DOM
3. 2026-06-16
   days on market $160,000 Active 7 DOM
4. 2026-06-15
   days on market $160,000 Active 6 DOM
5. 2026-06-13
   days on market $160,000 Active 4 DOM
6. 2026-06-12
   statusdays on market $160,000 Active 3 DOM
7. 2026-06-09
   remarks 693-char remark
8. 2026-06-09
   listed $160,000 Coming Soon 1 DOM

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

Tax reassessment forecast PA · Partial reset (capped growth)

• Current annual tax: $909 · $76/mo
• Projected year-2 tax: $1,718 · $143/mo
• Expected delta: +$810/yr (+$67/mo · 89.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 1/10 Low 5 d/yr ≥88°F today · 12 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,073
• − Mortgage interest: −$8,962
• − Property taxes: −$909
• − Insurance: −$800
• − Repairs & maintenance: −$1,606
• − Management: −$1,606
• − Depreciation: −$4,655
• Taxable income: $1,535
• Est. tax owed @ 24.0%: −$368
• After-tax cash flow: $3,711/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: Garrett County Public Schools
• NCES district ID: 2400360
• Math proficiency: 17% ▼ -16.00%
• Reading proficiency: 30% ▼ -13.00%
• Median HH income: $45,705
• Composite: 20.36/100
• National rank: #8600
• State rank: #16 of 24 in MD

Livability — Salisbury

• Score: 68/100
• State rank: #919
• US rank: #9930

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 3,829

Population outlook (Garrett County) Hauer SSP2

• Today (2025): 28,304 people
• By 2030: 27,248 · -3.7%
• By 2040: 24,596 · -13.1%
• By 2050: 21,703 · -23.3%
• By 2075: 15,766 · -44.3%
• By 2100: 11,363 · -59.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98%
• Common ancestry: Slovak 3% Romanian 2% Serbian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · German/W. Germanic 1%

Political lean MEDSL · Garrett

• 2024 margin: Solid R (+54.0) · D 21.9% · R 75.9% · Other 2.2%
• 2008→2024 swing: -13.9pp toward R · 2008: -40.1pp · 2024: -54.0pp
• All cycles: 2024: R+54.0 2020: R+55.9 2016: R+61.5 2012: R+52.1 2008: R+40.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 29.24%
• Current HPI: 313.3183
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.68%
• F500 in state: 34

Industry mix (Fortune 500 HQ in PA)

Industry	F500 HQs	Revenue
▸Healthcare	2	$309B
▸Insurance	2	$27B
▸Telecommunications / Media	1	$124B
▸Industrial Distribution	1	$22B
▸Financial Services	1	$20B
▸Chemicals / Materials	1	$18B

Price history

1 event — show timeline

• 2026-06-08 Coming Soon $160,000 BRIGHT MLS

Property tax history

+2.4%/yr

Latest (2025): $909 · +4.3% YoY. Source: county tax records.