111 Beach Harbor Dr Unit 11F · Grasonville, MD 21638

$52,000

2 bd · 1.0 ba · 700 sqft · Condo · 43 Days on market

Built 1985 Fair condition $250/mo HOA · 14% of rent ↓ 20% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your perfect Eastern Shore escape in the highly sought-after Beach Harbor Camper Cooperative! This is your opportunity to own a true waterfront lifestyle without the waterfront price tag. Located just steps from Jackson Creek with access out to the Chester River, this property is ideal for boating, kayaking, paddleboarding, or simply relaxing by the water all season long. Beach Harbor is known as one of the best-kept secrets on the Shore—a gated, amenity-rich community offering a private beach, boat ramps, marina access, pool, clubhouse, playground, and more. Whether you’re looking for a weekend getaway, summer retreat, or an affordable place to enjoy 3-season living

Key facts

• $250 HOA
• Community pool
• Built 1985

Property features AI

Finance

• Other: Ownership is cooperative; Pets allowed with no restrictions; Property in a federal flood zone
• HOA & community: Annual co-op fee of $3,000; HOA covers common area maintenance, pier/dock maintenance, reserve funds, road maintenance, and trash; Community amenities include beach, boat ramp, clubhouse, common grounds, gated community, pier/dock, and outdoor pool

Exterior

• Parking: Driveway
• Utilities: Public water; Public septic; Electric service
• Home design: Manufactured property; Outside city limits; Estimated year built
• Construction: Aluminum siding
• Exterior features: Community pool; Above-grade other structures

Interior

• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Electric heating; Wall unit cooling; Electric hot water
• Interior features: Estimated living area; No basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $52k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $746 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• Recommended offer: $50k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.0% vs local median 1.6% in Grasonville — 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 74/100 on livability (#116 in MD, #4,789 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Queen Anne'S County Public Schools (rural): math 22% / reading 39% proficiency, ranked #7 of 24 in MD (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 320 units permitted in Queen Anne's County in 2024 (56 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $360 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $8k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 72% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,440 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 3.46% ✓
• Cap rate: 25.05%
• Cash-on-cash: 66.98%
• DSCR: 3.98
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 60.5%
• Equity multiple: 3.70×
• Total profit: $39,320
• Equity at exit: $7,753

10-year hold

• IRR: 65.2%
• Equity multiple: 7.62×
• Total profit: $96,335
• Equity at exit: $4,496

Cash invested: $14,560 (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 21638

• Home prices YoY: -4.7%
• Active inventory: 52
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$273
• Tax est. 1.5%: −$65 /mo · $780/yr
• Insurance: −$22
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$250
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $746

Break-even live

Break-even rent $855

Max offer price $52,000

Occupancy floor 54%

Sensitivity live

Price	-10% $782	-5% $764	+0% $746	+5% $728	+10% $710
Rent	-10% $604	-5% $675	+0% $746	+5% $817	+10% $888
Rate	-1.0pp $772	-0.5pp $759	base $746	+0.5pp $733	+1.0pp $719

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: $13,000
• Closing costs: $1,560
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Winchester Ave Unit 107 Grasonville, MD	1.0	1.0	560	$1,800	$3.21	11d	1	0.81mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: waterpoolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $52,000 Active 43 DOM
2. 2026-06-17
   days on market $52,000 Active 42 DOM
3. 2026-06-16
   days on market $52,000 Active 41 DOM
4. 2026-06-15
   days on market $52,000 Active 40 DOM
5. 2026-06-13
   days on market $52,000 Active 38 DOM
6. 2026-06-09
   days on market $52,000 Active 34 DOM
7. 2026-06-08
   days on market $52,000 Active 33 DOM
8. 2026-06-07
   days on market $52,000 Active 32 DOM
9. 2026-06-04
   days on market $52,000 Active 29 DOM
10. 2026-06-03
    days on market $52,000 Active 28 DOM
11. 2026-06-02
    days on market $52,000 Active 27 DOM
12. 2026-06-01
    days on market $52,000 Active 26 DOM
13. 2026-05-31
    days on market $52,000 Active 25 DOM
14. 2026-05-18
    price $52,000
15. 2026-05-06
    listed $60,000 Active
16. 2025-10-25
    historical
17. 2025-09-07
    price $58,000
18. 2025-07-25
    listed $62,000 Active
19. 2025-07-23
    historical
20. 2025-05-29
    price $62,000
21. 2025-01-03
    listed $65,000 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 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$2,913
• − Property taxes: −$780
• − Insurance: −$1,058
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − HOA: −$3,000
• − Depreciation: −$1,513
• Taxable income: $8,881
• Est. tax owed @ 24.0%: −$2,131
• After-tax cash flow: $6,823/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 · 12 photos

Fair 45/100 Moderate rehab

This property requires significant repairs and renovations, but has potential for a substantial increase in value with proper updates.

Repairs flagged

• Major roof — Significant debris and construction materials are visible
• Major exterior siding — Significant debris and construction materials are visible
• Minor interior walls/paint — Paint appears faded

Value-add opportunities

• Both Painting — Fresh paint can improve the home's curb appeal and interior aesthetics
• Both Flooring replacement — New flooring can improve the home's appearance and functionality
• Both Appliance replacement — Modern appliances can improve the home's functionality and appeal

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant debris and construction materials are visible	Major	$15,000–50,000
exterior siding · Significant debris and construction materials are visible	Major	$15,000–50,000
interior walls/paint · Paint appears faded	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Both Painting — Fresh paint can improve the home's curb appeal and interior aesthetics ↑
• Both Flooring replacement — New flooring can improve the home's appearance and functionality ↑
• Both Appliance replacement — Modern appliances can improve the home's functionality and appeal ↑

ⓘ 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: Queen Anne'S County Public Schools
• NCES district ID: 2400540
• Math proficiency: 22% ▼ -30.00%
• Reading proficiency: 39% ▼ -22.00%
• Median HH income: $84,577
• Composite: 29.86/100
• National rank: #6406
• State rank: #7 of 24 in MD

Livability — Grasonville

• Score: 74/100
• State rank: #116
• US rank: #4789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grasonville, MD
• Population (ZIP): 5,068

Population outlook (Queen Anne's County) Hauer SSP2

• Today (2025): 51,149 people
• By 2030: 51,979 · +1.6%
• By 2040: 52,728 · +3.1%
• By 2050: 51,828 · +1.3%
• By 2075: 50,169 · -1.9%
• By 2100: 44,442 · -13.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 10% Hispanic / Latino 5% Black 5%
• Common ancestry: Slovak 4% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada, South Korea, Dominican Republic
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Queen Anne's

• 2024 margin: Strong R (+27.8) · D 35.1% · R 62.9% · Other 2.1%
• 2008→2024 swing: -0.7pp no change · 2008: -27.1pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+26.5 2016: R+36.1 2012: R+30.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.55%
• Current HPI: 256.8252
• 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

-20.0% since first listed

8 events — show timeline

• 2026-05-18 Price Changed $52,000 BRIGHT MLS
• 2026-05-06 Listed $60,000 BRIGHT MLS
• 2025-10-25 Listing Removed — BRIGHT MLS
• 2025-09-07 Price Changed $58,000 BRIGHT MLS
• 2025-07-25 Listed $62,000 BRIGHT MLS
• 2025-07-23 Listing Removed — BRIGHT MLS
• 2025-05-29 Price Changed $62,000 BRIGHT MLS
• 2025-01-03 Listed $65,000 BRIGHT MLS