106 Fischer Rd · Grasonville, MD 21638

$240,000

3 bd · 2.0 ba · 1,260 sqft · SingleFamily public records · 21 Days on market

Built 1963 0.48 ac lot Est $360k · 33% 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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.1/10.0
• Livability +3.7/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Estate Sale Opportunity in Grasonville, MD! 3 Bedrooms |2 Full Bathrooms | Private Well & Public Septic . SOLD AS-IS, SELLER WILL MAKE NO REPAIRS. Don't miss this opportunity to purchase a single-family home tucked away on a quiet street in sought-after Grasonville, Queen Anne's County. This home sits on a spacious flat lot and has a detached 2 car garage. Buyer is responsible for all due diligence. Home will require major renovation to the floor structure of the home to include among other things floor joist, bandboard and sub flooring. !!! Inspection recommended !!!! Inspection for informational purposes Only. THERE ARE TWO SPOTS IN THE HOME THAT ARE MARKED WHERE THE FLOOR IS REALLY

Key facts

• Spacious flat lot
• Private well
• Major renovation

Tags

• PRIVATE WELL
• PUBLIC SEPTIC
• SPACIOUS FLAT LOT
• DETACHED 2 CAR GARAGE
• MAJOR RENOVATION
• QUIET NEIGHBORHOOD

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: Detached garage with 2 spaces; Side-entry garage with additional storage area; Off-street parking and driveway
• Utilities: Well water; Public septic; Hot water supplied by oil, propane, and electric
• Home design: Detached structure
• Construction: Concrete and frame construction with vinyl siding; Casement windows; Other foundation type
• Exterior features: Partially fenced yard; Cleared lot; Rear yard; Deck(s); Porch(es)

Interior

• Kitchen: Gas oven/range; Stove
• Bedrooms: 3 bedrooms on the main level
• Flooring: Carpet
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Electric baseboard heating; Window air conditioning units; Oil heating fuel
• Interior features: Attic; Carpeted areas; Dining area; Family room off the kitchen; Traditional floor plan; Kitchen efficiency layout; Stall shower; Insulated doors; Sliding glass door; Storm door
• Laundry & utility: No basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $380 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 71% 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 $236,400 (1.5% 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. 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.
4. 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.
5. 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: 1.01% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.79%
• DSCR: 1.30
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $360,360
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4604 Main St	0.10mi	3/2.5	1,344 (+7%)	0mo	$400,000	$298	82
4606 Main St	0.11mi	3/2.5	1,344 (+7%)	0mo	$399,900	$298	81
114 Fischer Rd	0.03mi	3/2.0	1,144 (-9%)	6mo	$314,000	$274	78
113 Collier Rd	0.35mi	3/2.0	1,287 (+2%)	4mo	$390,000	$303	77
113 Moes Ln	0.18mi	3/2.0	1,152 (-9%)	6mo	$330,000	$286	72
116 Pine	0.42mi	3/2.0	1,232 (-2%)	6mo	$320,000	$260	71
112 Melvin Ave	0.09mi	3/1.0	1,120 (-11%)	15mo	$175,000	$156	61
109/107 Winchester Ave	0.51mi	3/2.0	1,316 (+4%)	12mo	$440,000	$334	58
110 Stewart Ln	0.37mi	3/2.5	1,420 (+13%)	5mo	$395,000	$278	56
604 Perrys Corner Rd	0.61mi	2/1.5 (-1)	1,336 (+6%)	1mo	$365,000	$273	54
117 Rebel Rd	0.66mi	3/2.0	1,432 (+14%)	1mo	$352,500	$246	46
321 Timber Ln	0.51mi	4/3.0 (+1)	1,128 (-10%)	8mo	$420,000	$372	43

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: -5.9%
• Equity multiple: 0.78×
• Total profit: $-14,712
• Equity at exit: $35,785

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $18,201
• Equity at exit: $20,751

Cash invested: $67,200 (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: 8.3×

Monthly cashflow live

• Estimated rent: $2,416 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$170 /mo · $2,036/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $380

Break-even live

Break-even rent $1,934

Max offer price $240,000

Occupancy floor 79%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Fox Run Grasonville, MD	3.0	1.5	1220	$2,100	$1.72	16d	1	0.67mi
3809 Main St Grasonville, MD	2.0	2.0	1280	$2,800	$2.19	2d	1	0.94mi
421 Sawmill Ln Grasonville, MD	4.0	2.0	1536	$2,500	$1.63	24d	1	1.20mi

Listing history 14 events

1. 2026-06-18
   days on market $240,000 Active 21 DOM
2. 2026-06-17
   days on market $240,000 Active 20 DOM
3. 2026-06-16
   days on market $240,000 Active 19 DOM
4. 2026-06-15
   days on market $240,000 Active 18 DOM
5. 2026-06-13
   days on market $240,000 Active 16 DOM
6. 2026-06-09
   days on market $240,000 Active 12 DOM
7. 2026-06-08
   days on market $240,000 Active 11 DOM
8. 2026-06-07
   days on market $240,000 Active 10 DOM
9. 2026-06-04
   days on market $240,000 Active 7 DOM
10. 2026-06-03
    days on market $240,000 Active 6 DOM
11. 2026-06-02
    days on market $240,000 Active 5 DOM
12. 2026-06-01
    days on market $240,000 Active 4 DOM
13. 2026-05-31
    days on market $240,000 Active 3 DOM
14. 2026-05-28
    listed $240,000 Active

ⓘ 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: $2,036 · $170/mo
• Projected year-2 tax: $2,326 · $194/mo
• Expected delta: +$290/yr (+$24/mo · 14.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 71% 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: $28,991
• − Mortgage interest: −$13,444
• − Property taxes: −$2,036
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,319
• − Management: −$2,319
• − Depreciation: −$6,982
• Taxable income: $691
• Est. tax owed @ 24.0%: −$166
• After-tax cash flow: $4,398/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: 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

1 event — show timeline

• 2026-05-28 Listed $240,000 BRIGHT MLS

Property tax history

+4.0%/yr

Latest (2025): $2,036 · +5.4% YoY. Source: county tax records.