4 Elma Dr · North East, MD 21921

$90,300

3 bd · 2.0 ba · 924 sqft · SingleFamily · 35 Days on market

Built 2026 Poor condition $98/sqft · 71% above area

---

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 +3.5/5.0
• Rent growth +3.1/5.0
• Schools +2.2/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Single Wide Mobile to be placed on lot on or before June 30, 2026. 3 Bedrooms and 2 full baths Lot rent is $700 a month and includes snow and trash removal

Key facts

• Built 2026
• Listed 34 days

Property features AI

Finance

• HOA & community: Ground rent $700 per month

Exterior

• Parking: On-street parking
• Utilities: Community water; Community septic tank
• Home design: Manufactured home; Construction not completed; Estimated year built
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Above-grade other structures

Interior

• Kitchen: Electric oven/range; Refrigerator; Water heater
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms on the main level; 2 full bathrooms total
• Heating & cooling: Heat pump with electric backup; Central air conditioning; Electric heating fuel; Electric hot water
• Interior features: Tub with shower

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $874 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $88k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.9% vs local median 3.1% in North East — 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 70/100 on livability (#164 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, schools D-, crime D-.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.3%/yr); 204 active listings in the ZIP; solid renter incomes; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $624 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,591 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
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 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: 2.10% ✓
• Cap rate: 17.91%
• Cash-on-cash: 41.49%
• DSCR: 2.85
• GRM: 4.0

CMA / ARV

• ARV (median comp): $52,820
• List price: $90,300
• Delta: 70.96%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.32% rent growth · sell at horizon

5-year hold

• IRR: 37.3%
• Equity multiple: 2.57×
• Total profit: $39,781
• Equity at exit: $13,464

10-year hold

• IRR: 43.6%
• Equity multiple: 5.00×
• Total profit: $101,230
• Equity at exit: $7,807

Cash invested: $25,284 (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 21921

• Rents YoY: 2.3%
• Active inventory: 204
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $1,896 medium
• Mortgage (P&I): −$474
• Tax est. 1.5%: −$113 /mo · $1,354/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $874

Break-even live

Break-even rent $790

Max offer price $90,300

Occupancy floor 49%

Sensitivity live

Price	-10% $937	-5% $905	+0% $874	+5% $843	+10% $812
Rent	-10% $724	-5% $799	+0% $874	+5% $949	+10% $1,024
Rate	-1.0pp $920	-0.5pp $897	base $874	+0.5pp $851	+1.0pp $827

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: $22,575
• Closing costs: $2,709
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $90,300 Coming Soon 35 DOM
2. 2026-06-17
   days on market $90,300 Coming Soon 34 DOM
3. 2026-06-16
   days on market $90,300 Coming Soon 33 DOM
4. 2026-06-15
   days on market $90,300 Coming Soon 32 DOM
5. 2026-06-13
   days on market $90,300 Coming Soon 30 DOM
6. 2026-06-09
   days on market $90,300 Coming Soon 26 DOM
7. 2026-06-08
   days on market $90,300 Coming Soon 25 DOM
8. 2026-06-07
   days on market $90,300 Coming Soon 24 DOM
9. 2026-06-04
   days on market $90,300 Coming Soon 21 DOM
10. 2026-06-03
    days on market $90,300 Coming Soon 20 DOM
11. 2026-06-02
    days on market $90,300 Coming Soon 19 DOM
12. 2026-06-01
    days on market $90,300 Coming Soon 18 DOM
13. 2026-05-31
    days on market $90,300 Coming Soon 17 DOM
14. 2026-05-14
    historical $90,300 155-char remark

ⓘ 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: $22,757
• − Mortgage interest: −$5,058
• − Property taxes: −$1,354
• − Insurance: −$452
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − Depreciation: −$2,627
• Taxable income: $9,625
• Est. tax owed @ 24.0%: −$2,310
• After-tax cash flow: $8,180/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 · 0 photos

Poor 20/100 Extensive rehab

This home requires extensive renovations and repairs, including kitchen and bathroom updates, HVAC replacement, and exterior repairs. Significant value can be added through these improvements, making it a good investment opportunity.

Repairs flagged

• Major Kitchen countertops and cabinets — The countertops and cabinets are visibly worn and need replacement.
• Major Bathroom fixtures — The bathroom fixtures are outdated and need to be replaced.
• Major Flooring — The flooring is worn and may need replacement.
• Major Interior walls — The walls show signs of wear and discoloration and need repainting.
• Major Roof — The roof appears damaged and may need replacement.
• Major Exterior siding — The siding is peeling and needs repair.
• Major Windows — The windows are old and may need replacement.
• Major Foundation — The foundation shows signs of settling and needs repair.
• Major HVAC system — The HVAC system is outdated and needs replacement.

Value-add opportunities

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the home's value.
• Resale Bathroom renovation — Upgraded bathrooms will appeal to potential buyers and increase the home's value.
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value.
• Resale Exterior siding and roof repair — Aesthetic improvements to the exterior will enhance curb appeal and attract more buyers.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen countertops and cabinets · The countertops and cabinets are visibly worn and need replacement.	Major	$15,000–50,000
Bathroom fixtures · The bathroom fixtures are outdated and need to be replaced.	Major	$15,000–50,000
Flooring · The flooring is worn and may need replacement.	Major	$15,000–50,000
Interior walls · The walls show signs of wear and discoloration and need repainting.	Major	$15,000–50,000
Roof · The roof appears damaged and may need replacement.	Major	$15,000–50,000
Exterior siding · The siding is peeling and needs repair.	Major	$15,000–50,000
Windows · The windows are old and may need replacement.	Major	$15,000–50,000
Foundation · The foundation shows signs of settling and needs repair.	Major	$15,000–50,000
HVAC system · The HVAC system is outdated and needs replacement.	Major	$15,000–50,000
Total estimated repair cost · 9 items		$135,000–450,000

Value-add ROI direction

• Resale Kitchen renovation — A modern kitchen will attract more buyers and increase the home's value. ↑
• Resale Bathroom renovation — Upgraded bathrooms will appeal to potential buyers and increase the home's value. ↑
• Both HVAC system replacement — A new HVAC system will improve comfort and energy efficiency, benefiting both resale and rental value. ↑
• Resale Exterior siding and roof repair — Aesthetic improvements to the exterior will enhance curb appeal and attract more buyers. ↑

ⓘ 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: Cecil County Public Schools
• NCES district ID: 2400240
• Math proficiency: 15% ▼ -21.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $66,544
• Composite: 21.51/100
• National rank: #8322
• State rank: #15 of 24 in MD

Livability — North East

• Score: 70/100
• State rank: #164
• US rank: #7366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cecil County · 65,041 people
• City population: 19,514
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 45,527
• Household income: $85,775
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 1438.0

Population outlook (Cecil County) Hauer SSP2

• Today (2025): 105,877 people
• By 2030: 106,905 · +1.0%
• By 2040: 107,156 · +1.2%
• By 2050: 104,170 · -1.6%
• By 2075: 95,771 · -9.5%
• By 2100: 82,381 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cecil

• 2024 margin: Solid R (+30.9) · D 33.5% · R 64.4% · Other 2.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -14.6pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.6 2016: R+35.3 2012: R+20.4 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.67%
• Current HPI: 253.7641
• Rent YoY: ▲ 2.32%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-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

1 event — show timeline

• 2026-05-14 Coming Soon $90,300 BRIGHT MLS