408 Dudley Ave · Pocomoke City, MD 21851

$169,900

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 17 Days on market

Built 1940 9,000 sqft lot Est $171k · at est.

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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 +25.0/30.0
• DSCR +8.2/10.0
• ARV discount +7.7/15.0
• 1% rule +6.4/10.0
• Livability +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Classic older style 2 story home with 3 bedrooms and 1 1/2 baths needing improvements but currently occupied on a month to month lease. Wonderful sized rear yard with massive open space Pocomoke Fairgrounds nearby. Sold "as-is; where -is" and tenants have expressed an interest to stay. Water and sewer , to name a few of in town services provided, support a lower financial risk and very low cost option to purchase.

Key facts

• Expansive open space
• 9,000 sq ft lot
• Built 1940

Tags

• GENEROUSLY SIZED REAR YARD
• EXPANSIVE OPEN SPACE
• PUBLIC WATER AND SEWER

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Heating fuel: Electric and leased propane
• Home design: Detached structure; Frame construction
• Construction: Block foundation
• Exterior features: Not in a federal flood zone; Tidal water: No; Other structures above and below grade

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: One full bathroom (located on the first upper level); One half bathroom on the main level
• Heating & cooling: Baseboard electric heating; Forced air heating; Hot water: Electric
• Interior features: Partial basement; Living area source: Assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 5.6% in Pocomoke City — 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 71/100 on livability (#157 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D+, crime F, amenities F.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pocomoke Middle (math 22% / reading 29%, grade F, #97 of 225 statewide, top 46%, 448 students, 72% FRL); Pocomoke High (math 32% / reading 67%, grade D, #108 of 222 statewide, top 49%, 352 students, 70% FRL) — zoned schools average 71% FRL vs 39% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 69 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 28y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $90k; list at $170k implies a 89% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,351 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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. 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?
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.38%
• DSCR: 1.42
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $170,688
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1015 Clarke Ave	0.39mi	3/1.5	1,369 (+2%)	0mo	$80,000	$58	77
621 Cedar St	0.38mi	3/2.5	1,350 (+0%)	6mo	$220,000	$163	71
1837 Dun Swamp Rd	0.57mi	3/1.0	1,416 (+5%)	3mo	$210,000	$148	62
710 2nd St	0.32mi	3/2.0	1,232 (-8%)	6mo	$220,000	$179	62
1924 Cedar Hall Rd	0.36mi	2/2.5 (-1)	1,344 (0%)	16mo	$231,500	$172	59
716 6th St	0.22mi	3/1.0	1,188 (-12%)	16mo	$90,000	$76	57
617 Cedar St	0.38mi	3/2.0	1,440 (+7%)	17mo	$165,000	$115	52
510 Laurel St	0.31mi	2/1.0 (-1)	1,452 (+8%)	18mo	$135,000	$93	52
401 4th St	0.45mi	3/1.5	1,495 (+11%)	8mo	$190,000	$127	52
704 Clarke Ave	0.41mi	2/1.5 (-1)	1,452 (+8%)	12mo	$120,000	$83	51
600 Laurel St	0.31mi	3/1.0	1,145 (-15%)	16mo	$150,000	$131	47
427 Bank St	0.67mi	2/1.0 (-1)	1,260 (-6%)	10mo	$150,000	$119	45

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-3,821
• Equity at exit: $25,333

10-year hold

• IRR: 7.6%
• Equity multiple: 1.57×
• Total profit: $27,260
• Equity at exit: $14,690

Cash invested: $47,572 (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 21851

• Home prices YoY: -4.0%
• Active inventory: 69
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,939 high
• Mortgage (P&I): −$891
• Tax from tax record: −$198 /mo · $2,376/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$407
• Net cashflow: $372

Break-even live

Break-even rent $1,468

Max offer price $169,900

Occupancy floor 76%

Sensitivity live

Price	-10% $468	-5% $420	+0% $372	+5% $324	+10% $276
Rent	-10% $219	-5% $295	+0% $372	+5% $449	+10% $525
Rate	-1.0pp $458	-0.5pp $415	base $372	+0.5pp $328	+1.0pp $283

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Cedar St Pocomoke City, MD	3.0	2.5	1352	$2,195	$1.62	14d	1	0.37mi
242 Morgans Ct Pocomoke City, MD	3.0	2.5	1304	$1,795	$1.38	14d	1	0.76mi
241 Morgans Ct Pocomoke City, MD	3.0	2.5	1304	$1,795	$1.38	14d	1	0.77mi
202 Carsons Ct Pocomoke City, MD	3.0	2.0	1472	$1,695	$1.15	14d	1	0.83mi
1513 Princess Anne Ln Pocomoke City, MD	3.0	2.0	1542	$1,950	$1.26	44d	1	1.09mi
2005 S Old Mill Dr Pocomoke City, MD	3.0	2.0	1373	$1,895	$1.38	14d	1	1.36mi
2007 S Old Mill Dr Pocomoke City, MD	3.0	2.0	1302	$1,895	$1.46	14d	1	1.37mi

Listing history 12 events

1. 2026-06-18
   days on market $169,900 Active 17 DOM
2. 2026-06-17
   days on market $169,900 Active 16 DOM
3. 2026-06-16
   days on market $169,900 Active 15 DOM
4. 2026-06-15
   days on market $169,900 Active 14 DOM
5. 2026-06-14
   days on market $169,900 Active 12 DOM
6. 2026-06-13
   days on market $169,900 Active 11 DOM
7. 2026-06-10
   days on market $169,900 Active 9 DOM
8. 2026-06-09
   days on market $169,900 Active 8 DOM
9. 2026-06-08
   days on market $169,900 Active 7 DOM
10. 2026-06-07
    days on market $169,900 Active 6 DOM
11. 2026-06-02
    remarks 519-char remark
12. 2026-06-02
    listed $169,900 Active 1 DOM

ⓘ 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: $2,376 · $198/mo
• Projected year-2 tax: $2,376 · $198/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 8/10 Severe 7 d/yr ≥102°F today · 18 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,267
• − Mortgage interest: −$9,517
• − Property taxes: −$2,376
• − Insurance: −$850
• − Repairs & maintenance: −$1,861
• − Management: −$1,861
• − Depreciation: −$4,943
• Taxable income: $1,859
• Est. tax owed @ 24.0%: −$446
• After-tax cash flow: $4,017/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: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

Livability — Pocomoke City

• Score: 71/100
• State rank: #157
• US rank: #7066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pocomoke City, MD
• Population (ZIP): 7,252

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 54% Black 37% Two or more races 5% Asian 2% Hispanic / Latino 2%
• Common ancestry: Scandinavian 2% Romanian 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada, Dominican Republic, Mexico
• Languages at home: 93% English-only · Other Asian/Pacific 1% Spanish 1% Vietnamese 1%

Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.03%
• Current HPI: 243.2329
• 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

+579.6% since first listed

10 events — show timeline

• 2026-06-01 Listed $169,900 BRIGHT MLS
• 2022-06-30 Listing Removed — BRIGHT MLS
• 2022-06-30 Sold (Public Records) $90,000 Public Records
• 2022-06-30 Sold (MLS) $90,000 BRIGHT MLS
• 2022-06-15 Pending — BRIGHT MLS
• 2022-05-20 Listed $115,000 BRIGHT MLS
• 2017-01-31 Sold (MLS) $38,000 BRIGHT MLS
• 2016-12-06 Listed $49,900 BRIGHT MLS
• 1999-10-04 Sold (MLS) $15,000 BRIGHT MLS
• 1998-05-21 Listed $25,000 BRIGHT MLS

Property tax history

+5.2%/yr

Latest (2025): $2,376 · +15.5% YoY. Source: county tax records.