304 Wyman Dr · Salisbury, MD 21804

$214,900

3 bd · 1.5 ba · 1,872 sqft · SingleFamily public records · 9 Days on market

Built 1963 0.41 ac lot Est $294k · 27% under

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Why this score? — see what drove the C 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 +20.2/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.7/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this fantastic opportunity for buyers looking to build equity and make a home their own! Situated on a spacious 18,000+/- sq ft lot in the established Glendale neighborhood, this 3 bedroom, 1.5 bath rancher offers approximately 1,872 sq ft of living space along with a detached 2-car garage. Inside, you’ll find a functional one-level layout with generously sized living spaces and endless potential for cosmetic updates and personalization. Whether you’re a first-time buyer, investor, or someone looking for a home to renovate over time, this property offers a solid foundation and the chance to add value with improvements. The home is priced with its condition and po

Key facts

• 0.41 acre lot
• 2 garage spots
• Built 1963

Property features AI

Exterior

• Parking: Detached garage (2 car) with front entry; Driveway parking
• Utilities: Electric available; Electric hot water; Water from private well; Public septic
• Home design: Detached structure; Fee simple ownership; Finished above-grade living area (assessor source)
• Construction: Frame construction; Other foundation; Estimated year built
• Exterior features: Not in a federal flood zone; Other above- and below-grade structures

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 half bathroom on the main level
• Heating & cooling: Baseboard electric heating; Central air conditioning
• Interior features: Ramp to main level (accessibility feature); Brick fireplace (1)
• Laundry & utility: Washer and Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $273 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (3.5% below list).
• Recommended offer: $207k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.8% 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 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.8%/yr); 195 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).
• This rent runs 34% of the median local income ($73k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $30k; list at $215k implies a 616% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $207,440 (3.5% below list)

Questions for the listing agent

1. Built in 1963 — 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 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.44%
• DSCR: 1.24
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $293,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
701 Parkway Ave	0.41mi	3/1.5	1,880 (+0%)	11mo	$229,000	$122	71
129 Holland Ave	0.38mi	3/1.5	1,699 (-9%)	14mo	$297,000	$175	55
1112 E Main St	0.38mi	4/2.0 (+1)	1,716 (-8%)	9mo	$270,000	$157	54
1308 Belmont Ave	0.39mi	4/2.0 (+1)	1,764 (-6%)	14mo	$302,900	$172	54
309 Park Heights Ave	0.69mi	3/2.5	1,778 (-5%)	2mo	$280,000	$157	53
723 E Church St	0.65mi	4/2.0 (+1)	1,840 (-2%)	10mo	$100,000	$54	52
201 Louise Ave	0.69mi	3/1.0	1,983 (+6%)	8mo	$270,000	$136	50
209 Louise Ave	0.69mi	4/1.5 (+1)	1,814 (-3%)	10mo	$335,000	$185	49
308 Hammond St	0.50mi	3/1.5	1,656 (-12%)	13mo	$215,500	$130	47
732 S Park Dr	0.56mi	3/1.0	1,672 (-11%)	11mo	$292,000	$175	45
307 Park Heights Ave	0.68mi	3/2.0	1,704 (-9%)	15mo	$185,101	$109	38
322 Naylor St	0.71mi	2/1.0 (-1)	1,653 (-12%)	3mo	$115,000	$70	38

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -7.1%
• Equity multiple: 0.74×
• Total profit: $-15,845
• Equity at exit: $32,042

10-year hold

• IRR: 3.4%
• Equity multiple: 1.25×
• Total profit: $15,251
• Equity at exit: $18,581

Cash invested: $60,172 (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 21804

• Home prices YoY: -26.7%
• Rents YoY: 3.8%
• Active inventory: 195
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,074 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$149 /mo · $1,793/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $273

Break-even live

Break-even rent $1,729

Max offer price $214,900

Occupancy floor 82%

Sensitivity live

Price	-10% $395	-5% $334	+0% $273	+5% $212	+10% $151
Rent	-10% $109	-5% $191	+0% $273	+5% $355	+10% $437
Rate	-1.0pp $381	-0.5pp $328	base $273	+0.5pp $217	+1.0pp $161

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
826 S Schumaker Dr Salisbury, MD	1.0–3.0	1.0–2.5	1022	$1,876	$1.84	14d	5	0.99mi
130 Ocean Aisle Cir Salisbury, MD	2.0–3.0	2.0	1388	$2,299	$1.66	14d	16	1.18mi
309 Stream Valley Ct Salisbury, MD	3.0	2.5	1530	$2,295	$1.50	21d	1	1.36mi
830 Larch Way Unit 1 Salisbury, MD	3.0	2.5	1568	$1,900	$1.21	14d	1	1.38mi
830 Larch Way Salisbury, MD	3.0	2.5	1568	$2,000	$1.28	14d	1	1.38mi
830 Larch Way Salisbury, MD	3.0	3.0	1568	$2,000	$1.28	44d	1	1.38mi
1406 Cat Tail Ct Salisbury, MD	4.0	3.5	2592	$2,395	$0.92	45d	1	1.39mi
1017 Baccharis Dr Salisbury, MD	3.0	2.5	1568	$1,895	$1.21	14d	1	1.41mi

Listing history 17 events

1. 2026-06-18
   days on market $214,900 Active 9 DOM
2. 2026-06-17
   days on market $214,900 Active 8 DOM
3. 2026-06-16
   days on market $214,900 Active 7 DOM
4. 2026-06-15
   days on market $214,900 Active 6 DOM
5. 2026-06-14
   days on market $214,900 Active 4 DOM
6. 2026-06-13
   days on market $214,900 Active 3 DOM
7. 2026-06-10
   statusdays on market $214,900 Active 1 DOM
8. 2026-06-09
   days on market $214,900 Coming Soon 17 DOM
9. 2026-06-08
   days on market $214,900 Coming Soon 16 DOM
10. 2026-06-07
    days on market $214,900 Coming Soon 15 DOM
11. 2026-06-03
    days on market $214,900 Coming Soon 11 DOM
12. 2026-06-02
    days on market $214,900 Coming Soon 10 DOM
13. 2026-06-01
    days on market $214,900 Coming Soon 9 DOM
14. 2026-05-31
    days on market $214,900 Coming Soon 8 DOM
15. 2026-05-30
    days on market $214,900 Coming Soon 7 DOM
16. 2026-05-23
    historical $214,900
17. 1984-03-20
    soldstatus $30,000

ⓘ 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: $1,793 · $149/mo
• Projected year-2 tax: $2,068 · $172/mo
• Expected delta: +$275/yr (+$23/mo · 15.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,893
• − Mortgage interest: −$12,038
• − Property taxes: −$1,793
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,991
• − Management: −$1,991
• − Depreciation: −$6,252
• Taxable loss: −$247
• Est. tax savings @ 24.0%: +$59
• After-tax cash flow: $3,334/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: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 40,430
• Household income: $73,156
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 2096.0

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 54% Black 30% Two or more races 9% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · French/Haitian/Cajun 7% Spanish 5% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.15%
• Current HPI: 230.6099
• Rent YoY: ▲ 3.78%
• 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

+616.3% since first listed

2 events — show timeline

• 2026-05-23 Coming Soon $214,900 BRIGHT MLS
• 1984-03-20 Sold (Public Records) $30,000 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,793 · +3.4% YoY. Source: county tax records.