4 Elma Dr

North East, MD 21921

$90,300B-

3 bd · 2.0 ba · 924 sqft · Built 2026 · SingleFamily · Coming Soon · 35 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,896/mo
• Mortgage (P&I): −$474
• Tax + insurance: −$150
• HOA: −$0
• Vac / Maint / Mgmt: −$398
• Net cashflow: $874/mo
• Annual: $10,490/yr
• Cap rate: 17.91%
• Cash-on-cash: 41.49%
• DSCR: 2.85
• 1% rule: 2.10%
• Cash to close: $25,284

Investor read

• This is a 3-bed/2.0-bath single-family listed at $90k. Condition is rated poor.
• 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).
• It's been on market 35 days — a 3% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $88k (3.0% below list) — sets the bar for market timing.
• 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.
• 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).
• 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.
• 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.

Questions for listing agent

• 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?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• 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.