4808 Webster St · Federalsburg, MD 21632

$144,900

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 45 Days on market

Built 1975 0.47 ac lot $151/sqft · 12% below area Est $165k · 12% under

---

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 +26.3/30.0
• ARV discount +13.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.4/10.0
• Appreciation +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Completely Renovated 3 Bedroom Rancher is Located on Nearly a 1/2 Acre Country Lot. Offered At a Steal of A Price Tag. This property is located between Preston & Federalsburg just off Federalsburg Highway. Property Has No City Taxes, and No HOA Fee!

Key facts

• 0.47 acre lot
• 2 parking spots
• Built 1975

Property features AI

Exterior

• Parking: Two driveway parking spaces (total of 2 garage/parking spaces)
• Utilities: Electric heating, cooling fuel and hot water; Septic sewer; Well water; No municipal trash service
• Home design: Detached property; Single-story living (all main living and bedrooms on main level)
• Construction: Vinyl siding; Block foundation with crawl space; Asphalt roof; Above- and below-grade structures noted; Built year sourced from assessor
• Exterior features: Not in a federal flood zone; Ground rent paid annually; Septic system; Private well; Crushed stone driveway

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Electric baseboard heat; Central air conditioning; Ceiling fans; Electric hot water
• Interior features: Assessor-recorded living area; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $375 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.8% in Federalsburg — 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 65/100 on livability (#266 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, health & safety A; Watch: housing C-, schools F, amenities F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 46 active listings in the ZIP; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $1k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-2.2% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 23y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 59% 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 $140,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. 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: 1.14% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.10%
• DSCR: 1.49
• GRM: 7.3

CMA / ARV

• ARV (median comp): $165,054
• List price: $144,900
• Delta: -12.21%
• Verdict: UNDERPRICED
• Comps: 4 within 2.0 mi

Projected returns pro-forma

-2.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.1%
• Equity multiple: 1.13×
• Total profit: $5,168
• Equity at exit: $26,667

10-year hold

• IRR: 11.4%
• Equity multiple: 1.97×
• Total profit: $39,401
• Equity at exit: $21,399

Cash invested: $40,572 (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 21632

• Home prices YoY: -0.7%
• Active inventory: 46
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,649 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$107 /mo · $1,288/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $375

Break-even live

Break-even rent $1,174

Max offer price $144,900

Occupancy floor 72%

Sensitivity live

Price	-10% $457	-5% $416	+0% $375	+5% $334	+10% $293
Rent	-10% $245	-5% $310	+0% $375	+5% $441	+10% $506
Rate	-1.0pp $448	-0.5pp $412	base $375	+0.5pp $338	+1.0pp $300

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-21
   days on market $144,900 Active 45 DOM
2. 2026-06-21
   days on market $144,900 Active 44 DOM
3. 2026-06-18
   days on market $144,900 Active 42 DOM
4. 2026-06-17
   days on market $144,900 Active 41 DOM
5. 2026-06-16
   days on market $144,900 Active 40 DOM
6. 2026-06-15
   days on market $144,900 Active 39 DOM
7. 2026-06-13
   days on market $144,900 Active 37 DOM
8. 2026-06-12
   days on market $144,900 Active 36 DOM
9. 2026-06-09
   pricedays on market $144,900 Active 33 DOM
10. 2026-06-08
    days on market $164,900 Active 32 DOM
11. 2026-06-07
    days on market $164,900 Active 31 DOM
12. 2026-06-07
    days on market $164,900 Active 30 DOM
13. 2026-06-04
    days on market $164,900 Active 27 DOM
14. 2026-06-02
    days on market $164,900 Active 26 DOM
15. 2026-06-01
    days on market $164,900 Active 25 DOM
16. 2026-05-31
    days on market $164,900 Active 24 DOM
17. 2026-05-31
    days on market $164,900 Active 23 DOM
18. 2026-05-07
    listed $164,900 Active 218-char remark
19. 2025-12-10
    historical
20. 2025-11-19
    price $144,500
21. 2025-09-08
    price $144,900
22. 2025-09-02
    price $145,500
23. 2025-08-18
    price $146,900
24. 2025-08-04
    price $147,500
25. 2025-07-17
    price $149,900
26. 2025-06-25
    price $154,900
27. 2025-06-10
    listed $165,000 Active
28. 2009-04-06
    historical

    Show marketing remark (255 chars)

    Completely Renovated 3 Bedroom Rancher is Located on Nearly a 1/2 Acre Country Lot. Offered At a Steal of A Price Tag. This property is located between Preston & Federalsburg just off Federalsburg Highway. Property Has No City Taxes, and No HOA Fee!

29. 2009-04-06
    soldstatus $131,500 Sold

    Show marketing remark (255 chars)

    Completely Renovated 3 Bedroom Rancher is Located on Nearly a 1/2 Acre Country Lot. Offered At a Steal of A Price Tag. This property is located between Preston & Federalsburg just off Federalsburg Highway. Property Has No City Taxes, and No HOA Fee!

30. 2009-01-26
    listed $126,500

    Show marketing remark (255 chars)

    Completely Renovated 3 Bedroom Rancher is Located on Nearly a 1/2 Acre Country Lot. Offered At a Steal of A Price Tag. This property is located between Preston & Federalsburg just off Federalsburg Highway. Property Has No City Taxes, and No HOA Fee!

31. 2009-01-05
    soldstatus $67,300
32. 2003-08-22
    soldstatus $89,900
33. 2003-07-31
    soldstatus $89,900
34. 2003-04-24
    historical
35. 2003-03-11
    soldstatus $38,200
36. 2003-03-06
    listed $89,900
37. 1984-05-29
    soldstatus $33,000

ⓘ 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: $1,288 · $107/mo
• Projected year-2 tax: $1,434 · $119/mo
• Expected delta: +$145/yr (+$12/mo · 11.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $19,793
• − Mortgage interest: −$8,117
• − Property taxes: −$1,288
• − Insurance: −$724
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − Depreciation: −$4,215
• Taxable income: $2,281
• Est. tax owed @ 24.0%: −$547
• After-tax cash flow: $3,957/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Federalsburg

• Score: 65/100
• State rank: #266
• US rank: #13461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,227

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 25% Two or more races 6% Hispanic / Latino 3% Asian 2% Native American 2%
• Common ancestry: Romanian 2% Serbian 2% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.22%
• Current HPI: 301.4384
• 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

+339.1% since first listed

21 events — show timeline

• 2026-06-09 Price Changed $144,900 BRIGHT MLS
• 2026-05-07 Listed $164,900 BRIGHT MLS
• 2025-12-10 Listing Removed — BRIGHT MLS
• 2025-11-19 Price Changed $144,500 BRIGHT MLS
• 2025-09-08 Price Changed $144,900 BRIGHT MLS
• 2025-09-02 Price Changed $145,500 BRIGHT MLS
• 2025-08-18 Price Changed $146,900 BRIGHT MLS
• 2025-08-04 Price Changed $147,500 BRIGHT MLS
• 2025-07-17 Price Changed $149,900 BRIGHT MLS
• 2025-06-25 Price Changed $154,900 BRIGHT MLS
• 2025-06-10 Listed $165,000 BRIGHT MLS
• 2009-04-06 Delisted — MRIS
• 2009-04-06 Sold (MLS) $131,500 MRIS
• 2009-01-26 Listed $126,500 MRIS
• 2009-01-05 Sold (Public Records) $67,300 Public Records
• 2003-08-22 Sold (Public Records) $89,900 Public Records
• 2003-07-31 Sold (MLS) $89,900 MRIS
• 2003-04-24 Delisted — MRIS
• 2003-03-11 Sold (Public Records) $38,200 Public Records
• 2003-03-06 Listed $89,900 MRIS
• 1984-05-29 Sold (Public Records) $33,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,288 · +15.1% YoY. Source: county tax records.