67 Saint Michaels Ct · Elkton, MD 21921

$33,000

3 bd · 1.0 ba · 924 sqft · SingleFamily · 15 Days on market

Built 2013 Est $43k · 22% 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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Gracious Living At An Affordable Price! This 3 Bedroom Manufactured Home Located In Forest View Village Has A Lot To Offer. Comfortable Single Level Living Ranch Style Has An Open Concept With A Large Room Feel. Updated Laminate Flooring Throughout, Roomy Kitchen With Refrigerator, Stove, Dishwasher, Built-In Microwave, Laundry Area With Clothes Washer And Dryer Included, Ceiling Fans And Central Air Conditioning To Keep You Cool This Summer. Also Included Is An Outside Storage Shed. Forest View Provides Trash Removal, Street Snow Removal, Street Lighting And Playground. The Monthly Lot Rent Is $890 And Includes Sewer, Water (3200 Gallons/Month), And Community Fees. Buyers Must Be Approved

Key facts

• Open concept
• Roomy kitchen
• Single level living

Tags

• SINGLE LEVEL LIVING
• OPEN CONCEPT
• UPDATED LAMINATE FLOORING
• ROOMY KITCHEN
• OUTSIDE STORAGE SHED

Property features AI

Finance

• HOA & community: Ground rent of $890 monthly

Exterior

• Parking: Driveway
• Utilities: Community water; Community septic tank
• Home design: Manufactured home; Year built estimated
• Construction: Vinyl siding
• Exterior features: Above grade other structures

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: Estimated living area; No basement

🏷️ Possibly a rental listed for sale. The $33,000 price doesn't fit this home's estimated sale value (~$42,504) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $33k).
• Recommended offer: $33k (1.5% below list) — sets the bar for market timing.
• Cap rate 50.7% vs local median 4.1% in Elkton — 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 (#261 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime F, commute F.
• 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.
• Zoned schools: Elk Neck Elementary (math 22% / reading 12%, grade F, #408 of 860 statewide, top 50%, 404 students, 47% FRL); North East Middle (math 8% / reading 29%, grade F, #159 of 225 statewide, top 73%, 791 students, 54% FRL); North East High (math 32% / reading 78%, grade C, #88 of 222 statewide, top 40%, 1,069 students, 49% FRL).
• Market conditions: Rents rising (+2.3%/yr); 204 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $228 of loan paydown is wiped out by about $990 of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $9k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($33k) is reasonable based on typical stale-listing flexibility.

Recommended offer $32,505 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 5.56% ✓
• Cap rate: 50.70%
• Cash-on-cash: 158.60%
• DSCR: 8.06
• GRM: 1.5

CMA / ARV

• ARV (on-the-fly): $42,504
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23 St. Michaels Ct	0.04mi	3/1.0	896 (-3%)	12mo	$35,000	$39	83
58 Saint Michaels Ct	0.04mi	3/2.0	980 (+6%)	15mo	$28,000	$29	72
64 Queen Eleanor	0.12mi	3/2.0	1,056 (+14%)	10mo	$85,000	$80	58
18 Saint Michaels Ct	0.04mi	3/2.0	1,036 (+12%)	19mo	$48,000	$46	58
3475 Old Elk Neck Rd	0.70mi	2/1.0 (-1)	1,062 (+15%)	1mo	$300,000	$282	37

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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 8.71×
• Total profit: $71,214
• Equity at exit: $4,920

10-year hold

• IRR: —
• Equity multiple: 18.02×
• Total profit: $157,232
• Equity at exit: $2,853

Cash invested: $9,240 (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: 1.5×

Monthly cashflow live

• Estimated rent: $1,835 medium
• Mortgage (P&I): −$173
• Tax est. 1.5%: −$41 /mo · $495/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $1,221

Break-even live

Break-even rent $289

Max offer price $33,000

Occupancy floor 28%

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: $8,250
• Closing costs: $990
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
266 Hollingsworth Mnr Elkton, MD	2.0	1.0	800	$1,350	$1.69	43d	1	1.46mi

Listing history 10 events

1. 2026-06-18
   days on market $33,000 Active 15 DOM
2. 2026-06-17
   days on market $33,000 Active 14 DOM
3. 2026-06-16
   days on market $33,000 Active 13 DOM
4. 2026-06-15
   days on market $33,000 Active 12 DOM
5. 2026-06-13
   days on market $33,000 Active 10 DOM
6. 2026-06-09
   days on market $33,000 Active 6 DOM
7. 2026-06-08
   days on market $33,000 Active 5 DOM
8. 2026-06-07
   days on market $33,000 Active 4 DOM
9. 2026-06-04
   remarks 699-char remark
10. 2026-06-04
    listed $33,000 Active 1 DOM

ⓘ 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: $22,014
• − Mortgage interest: −$1,849
• − Property taxes: −$495
• − Insurance: −$165
• − Repairs & maintenance: −$1,761
• − Management: −$1,761
• − Depreciation: −$960
• Taxable income: $15,024
• Est. tax owed @ 24.0%: −$3,606
• After-tax cash flow: $11,049/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: 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 — Elkton

• Score: 65/100
• State rank: #261
• US rank: #13293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cecil County · 65,041 people
• City population: 45,527
• 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

• 2026-06-03 Listed $33,000 BRIGHT MLS