28 Boone St · Cumberland, MD 21502

$68,500

3 bd · 1.0 ba · 1,350 sqft · SingleFamily public records · 166 Days on market

Built 1900 2,100 sqft lot $51/sqft · at area comps Est $66k · at est.

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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 +5.5/15.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Price Reduction!!! Charming Brick Home with Endless Potential! This 3-bedroom, 1-bath brick home is ready for a new owner. This home needs a makeover to bring it's charm back to life. Inside, you’ll find original hardwood floors that add timeless character and warmth. In addition to a spacious kitchen with access to the back yard. Upstairs features three spacious bedrooms with one bedroom attached to a walk out back deck. The bathroom is centrally located to all bedrooms. The basement has interior/exterior access off of the kitchen. Step outside to enjoy two covered back decks, offering great space for relaxing, entertaining, or future outdoor upgrades. With solid construction and classic details, this home is a wonderful opportunity for buyers looking to personalize a space and build equity while restoring its original charm. This property is great for investors looking for a flip or rental. VERY MOTIVATED SELLER.

Key facts

• Solid construction
• Classic details
• 2,100 sq ft lot

Tags

• ORIGINAL HARDWOOD FLOORS
• TWO COVERED BACK DECKS
• SOLID CONSTRUCTION
• CLASSIC DETAILS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $572 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $68k).
• Recommended offer: $60k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 6.7% in Cumberland — 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 78/100 on livability (#64 in MD, #2,385 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools D+, crime F, employment F.
• 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.
• Market conditions: Rents rising fast (+10.9%/yr); 235 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $474 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Allegany County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $19k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 24y ago; this cycle's ask has dropped $31k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $68k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,280 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.84% ✓
• Cap rate: 16.31%
• Cash-on-cash: 35.78%
• DSCR: 2.59
• GRM: 4.5

CMA / ARV

• ARV (median comp): $65,517
• List price: $68,500
• Delta: 4.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Race St	0.26mi	3/1.0	1,330 (-2%)	2mo	$90,400	$68	84
118 Oak St	0.12mi	2/1.5 (-1)	1,377 (+2%)	1mo	$155,000	$113	83
6 Race St	0.25mi	3/1.0	1,280 (-5%)	5mo	$10,000	$8	75
83 Knobley St	0.48mi	4/1.5 (+1)	1,344 (-0%)	1mo	$108,000	$80	69
409 Springdale St	0.30mi	4/2.0 (+1)	1,440 (+7%)	1mo	$145,000	$101	65
407 Caroline St	0.34mi	3/2.5	1,432 (+6%)	5mo	$214,900	$150	64
880 Maryland Ave	0.31mi	2/1.0 (-1)	1,200 (-11%)	3mo	$84,500	$70	59
15 W Second St	0.16mi	2/1.0 (-1)	1,152 (-15%)	5mo	$12,500	$11	59
126 South St	0.38mi	3/2.0	1,496 (+11%)	6mo	$130,000	$87	56
717 Louisiana Ave	0.50mi	2/2.0 (-1)	1,494 (+11%)	2mo	$132,000	$88	48
30 Memorial Ave	0.53mi	3/2.0	1,550 (+15%)	2mo	$190,000	$123	44
615 Elwood St	0.53mi	2/1.0 (-1)	1,152 (-15%)	6mo	$75,000	$65	41

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 36.8%
• Equity multiple: 2.67×
• Total profit: $31,989
• Equity at exit: $10,214

10-year hold

• IRR: 45.8%
• Equity multiple: 6.48×
• Total profit: $105,084
• Equity at exit: $5,923

Cash invested: $19,180 (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 21502

• Home prices YoY: -17.4%
• Rents YoY: 10.9%
• Active inventory: 235
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,262 high
• Mortgage (P&I): −$359
• Tax from tax record: −$38 /mo · $450/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $572

Break-even live

Break-even rent $538

Max offer price $68,500

Occupancy floor 50%

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: $17,125
• Closing costs: $2,055
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Grand Ave Cumberland, MD	3.0	2.0	1444	$1,300	$0.90	43d	1	0.21mi
415 Grand Ave Cumberland, MD	3.0	1.0	1325	$1,250	$0.94	43d	1	0.38mi
201 Spring St Cumberland, MD	3.0	1.0	1332	$950	$0.71	43d	1	0.63mi
418 N Mechanic St Unit 1C Cumberland, MD	3.0	1.0	1500	$1,295	$0.86	43d	1	1.21mi
418 N Mechanic St Unit 1B Cumberland, MD	2.0	1.0	1000	$1,195	$1.20	43d	1	1.21mi
118 Independence St Cumberland, MD	3.0	1.5	1260	$1,250	$0.99	44d	1	1.23mi
529 N Centre St Unit Rear Cumberland, MD	2.0	1.0	982	$850	$0.87	43d	1	1.38mi
516 Bedford St Cumberland, MD	3.0	1.5	1500	$1,195	$0.80	43d	1	1.44mi

Listing history 40 events

1. 2026-06-19
   days on market $68,500 Active 166 DOM
2. 2026-06-18
   days on market $68,500 Active 165 DOM
3. 2026-06-17
   days on market $68,500 Active 164 DOM
4. 2026-06-16
   days on market $68,500 Active 163 DOM
5. 2026-06-15
   days on market $68,500 Active 162 DOM
6. 2026-06-14
   days on market $68,500 Active 160 DOM
7. 2026-06-12
   days on market $68,500 Active 159 DOM
8. 2026-06-09
   days on market $68,500 Active 156 DOM
9. 2026-06-08
   days on market $68,500 Active 155 DOM
10. 2026-06-07
    days on market $68,500 Active 154 DOM
11. 2026-06-02
    days on market $68,500 Active 149 DOM
12. 2026-06-01
    days on market $68,500 Active 148 DOM
13. 2026-05-31
    days on market $68,500 Active 147 DOM
14. 2026-05-30
    days on market $68,500 Active 146 DOM
15. 2026-04-02
    price $68,500 935-char remark

    Show marketing remark (935 chars)

    Price Reduction!!! Charming Brick Home with Endless Potential! This 3-bedroom, 1-bath brick home is ready for a new owner. This home needs a makeover to bring it's charm back to life. Inside, you’ll find original hardwood floors that add timeless character and warmth. In addition to a spacious kitchen with access to the back yard. Upstairs features three spacious bedrooms with one bedroom attached to a walk out back deck. The bathroom is centrally located to all bedrooms. The basement has interior/exterior access off of the kitchen. Step outside to enjoy two covered back decks, offering great space for relaxing, entertaining, or future outdoor upgrades. With solid construction and classic details, this home is a wonderful opportunity for buyers looking to personalize a space and build equity while restoring its original charm. This property is great for investors looking for a flip or rental. VERY MOTIVATED SELLER.

16. 2026-02-24
    price $88,444 935-char remark

    Show marketing remark (935 chars)

    Price Reduction!!! Charming Brick Home with Endless Potential! This 3-bedroom, 1-bath brick home is ready for a new owner. This home needs a makeover to bring it's charm back to life. Inside, you’ll find original hardwood floors that add timeless character and warmth. In addition to a spacious kitchen with access to the back yard. Upstairs features three spacious bedrooms with one bedroom attached to a walk out back deck. The bathroom is centrally located to all bedrooms. The basement has interior/exterior access off of the kitchen. Step outside to enjoy two covered back decks, offering great space for relaxing, entertaining, or future outdoor upgrades. With solid construction and classic details, this home is a wonderful opportunity for buyers looking to personalize a space and build equity while restoring its original charm. This property is great for investors looking for a flip or rental. VERY MOTIVATED SELLER.

17. 2026-02-05
    price $92,500 935-char remark

    Show marketing remark (935 chars)

    Price Reduction!!! Charming Brick Home with Endless Potential! This 3-bedroom, 1-bath brick home is ready for a new owner. This home needs a makeover to bring it's charm back to life. Inside, you’ll find original hardwood floors that add timeless character and warmth. In addition to a spacious kitchen with access to the back yard. Upstairs features three spacious bedrooms with one bedroom attached to a walk out back deck. The bathroom is centrally located to all bedrooms. The basement has interior/exterior access off of the kitchen. Step outside to enjoy two covered back decks, offering great space for relaxing, entertaining, or future outdoor upgrades. With solid construction and classic details, this home is a wonderful opportunity for buyers looking to personalize a space and build equity while restoring its original charm. This property is great for investors looking for a flip or rental. VERY MOTIVATED SELLER.

18. 2026-01-04
    listed $99,444 Active 935-char remark

    Show marketing remark (935 chars)

    Price Reduction!!! Charming Brick Home with Endless Potential! This 3-bedroom, 1-bath brick home is ready for a new owner. This home needs a makeover to bring it's charm back to life. Inside, you’ll find original hardwood floors that add timeless character and warmth. In addition to a spacious kitchen with access to the back yard. Upstairs features three spacious bedrooms with one bedroom attached to a walk out back deck. The bathroom is centrally located to all bedrooms. The basement has interior/exterior access off of the kitchen. Step outside to enjoy two covered back decks, offering great space for relaxing, entertaining, or future outdoor upgrades. With solid construction and classic details, this home is a wonderful opportunity for buyers looking to personalize a space and build equity while restoring its original charm. This property is great for investors looking for a flip or rental. VERY MOTIVATED SELLER.

19. 2024-07-23
    soldstatus $34,444 Closed 417-char remark

    Show marketing remark (417 chars)

    Priced To Sell Fast! Amazing Opportunity! Renovate & Resell, Buy and Hold or Move-In and Build Some Sweat Equity. Hot Solid Brick 3 Level Colonial, Spacious Kitchen, Spacious Bedrooms, Covered Front Porch, Hardwood Floors, Rear Balcony, Driveway, Slate Roof, Much More!! Just Waiting For Your Personal Cosmetics to Make it Shine. Close to Schools, Shopping, and Commuter Routes. This Will Not Last! Sold As-Is.

20. 2024-07-09
    status Pending 417-char remark

    Show marketing remark (417 chars)

    Priced To Sell Fast! Amazing Opportunity! Renovate & Resell, Buy and Hold or Move-In and Build Some Sweat Equity. Hot Solid Brick 3 Level Colonial, Spacious Kitchen, Spacious Bedrooms, Covered Front Porch, Hardwood Floors, Rear Balcony, Driveway, Slate Roof, Much More!! Just Waiting For Your Personal Cosmetics to Make it Shine. Close to Schools, Shopping, and Commuter Routes. This Will Not Last! Sold As-Is.

21. 2024-06-26
    price $34,900 417-char remark

    Show marketing remark (417 chars)

    Priced To Sell Fast! Amazing Opportunity! Renovate & Resell, Buy and Hold or Move-In and Build Some Sweat Equity. Hot Solid Brick 3 Level Colonial, Spacious Kitchen, Spacious Bedrooms, Covered Front Porch, Hardwood Floors, Rear Balcony, Driveway, Slate Roof, Much More!! Just Waiting For Your Personal Cosmetics to Make it Shine. Close to Schools, Shopping, and Commuter Routes. This Will Not Last! Sold As-Is.

22. 2024-06-18
    listed $39,900 Active 417-char remark

    Show marketing remark (417 chars)

    Priced To Sell Fast! Amazing Opportunity! Renovate & Resell, Buy and Hold or Move-In and Build Some Sweat Equity. Hot Solid Brick 3 Level Colonial, Spacious Kitchen, Spacious Bedrooms, Covered Front Porch, Hardwood Floors, Rear Balcony, Driveway, Slate Roof, Much More!! Just Waiting For Your Personal Cosmetics to Make it Shine. Close to Schools, Shopping, and Commuter Routes. This Will Not Last! Sold As-Is.

23. 2010-02-17
    soldstatus $42,000
24. 2010-02-17
    soldstatus $42,000 Sold
25. 2010-02-11
    status Contract
26. 2010-02-09
    historical
27. 2010-01-16
    status Active
28. 2009-12-30
    status Contract
29. 2009-10-23
    status
30. 2009-09-12
    historical
31. 2009-09-03
    price $45,000
32. 2009-07-28
    status
33. 2009-07-25
    historical
34. 2009-07-23
    listed $49,000 Active
35. 2009-07-23
    listed $45,000
36. 2002-04-22
    soldstatus $39,900
37. 2002-04-12
    soldstatus $39,900
38. 2002-02-24
    historical
39. 2002-02-15
    listed $39,900
40. 1993-11-10
    soldstatus $24,000

ⓘ 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: $450 · $38/mo
• Projected year-2 tax: $598 · $50/mo
• Expected delta: +$148/yr (+$12/mo · 32.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 18 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: $15,148
• − Mortgage interest: −$3,837
• − Property taxes: −$450
• − Insurance: −$342
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$1,993
• Taxable income: $6,102
• Est. tax owed @ 24.0%: −$1,464
• After-tax cash flow: $5,399/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: 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 — Cumberland

• Score: 78/100
• State rank: #64
• US rank: #2385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cumberland, MD
• County: Allegany County · 41,015 people
• City population: 41,015
• Metro: Cumberland, MD-WV
• Population (ZIP): 41,015
• Household income: $60,725
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 824.0

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 (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Romanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -54.33%
• Current HPI: 258.6676
• Rent YoY: ▲ 10.88%
• Metro: Cumberland, MD-WV
• 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

+185.4% since first listed

26 events — show timeline

• 2026-04-02 Price Changed $68,500 BRIGHT MLS
• 2026-02-24 Price Changed $88,444 BRIGHT MLS
• 2026-02-05 Price Changed $92,500 BRIGHT MLS
• 2026-01-04 Listed $99,444 BRIGHT MLS
• 2024-07-23 Sold (MLS) $34,444 BRIGHT MLS
• 2024-07-09 Pending — BRIGHT MLS
• 2024-06-26 Price Changed $34,900 BRIGHT MLS
• 2024-06-18 Listed $39,900 BRIGHT MLS
• 2010-02-17 Sold (MLS) $42,000 MRIS
• 2010-02-17 Sold (MLS) $42,000 BRIGHT MLS
• 2010-02-11 Pending — MRIS
• 2010-02-09 Listing Removed — BRIGHT MLS
• 2010-01-16 Relisted — MRIS
• 2009-12-30 Pending — MRIS
• 2009-10-23 Relisted — MRIS
• 2009-09-12 Delisted — MRIS
• 2009-09-03 Price Changed $45,000 MRIS
• 2009-07-28 Relisted — MRIS
• 2009-07-25 Delisted — MRIS
• 2009-07-23 Listed $49,000 MRIS
• 2009-07-23 Listed $45,000 BRIGHT MLS
• 2002-04-22 Sold (Public Records) $39,900 Public Records
• 2002-04-12 Sold (MLS) $39,900 MRIS
• 2002-02-24 Delisted — MRIS
• 2002-02-15 Listed $39,900 MRIS
• 1993-11-10 Sold (Public Records) $24,000 Public Records

Property tax history

+0.2%/yr

Latest (2025): $450 · +7.6% YoY. Source: county tax records.