185 Bowery Extd St · Frostburg, MD 21532

$135,000

4 bd · 1.5 ba · 1,672 sqft · SingleFamily public records · 37 Days on market

Built 1920 6,750 sqft lot $81/sqft · at area comps Est $135k · at est.

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Why this score? — see what drove the D+ 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 +17.6/30.0
• ARV discount +7.6/15.0
• DSCR +5.5/10.0
• Livability +4.4/5.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Gorgeous home located just a few minute walk from Frostburg University! 4 big bedrooms and lots of space inside! Large backyard! Parking spaces around back please park here for viewings! Lots of updates new roof put on last year! Priced to sell you don’t want to miss this one!

Key facts

• 6,750 sq ft lot
• Built 1920
• Listed 37 days

Property features AI

Exterior

• Parking: Alley access; Other parking
• Utilities: Public water; Public sewer; Natural gas available; Natural gas hot water
• Home design: Detached property
• Construction: Vinyl siding; Block foundation; Unfinished basement
• Exterior features: Cleared lot; Rear yard; Deck(s)

Interior

• Kitchen: Electric oven/range; Refrigerator
• Bedrooms: Three bedrooms on the upper level; One bedroom on the main level
• Bathrooms: One full bathroom on the upper level; One half bathroom on the main level
• Heating & cooling: Forced-air heating; Natural gas heating
• Interior features: Entry-level bedroom; Eat-in kitchen
• Laundry & utility: Upper-floor laundry hookups; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $120k (11.1% below list).
• Recommended offer: $120k (11.1% below list) — sets the bar for 1% rule.
• Cap rate 7.2% vs local median 4.2% in Frostburg — 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 87/100 on livability (#7 in MD, #287 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, cost of living A+; Watch: employment F.
• Allegany County Public Schools (other): math 15% / reading 30% proficiency, ranked #18 of 24 in MD (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Beall Elementary (math 19% / reading 30%, grade F, #260 of 860 statewide, top 33%, 451 students, 63% FRL); Mount Savage Middle (math 15% / reading 38%, grade F, #86 of 225 statewide, top 40%, 425 students, 54% FRL); Mountain Ridge High School (math 32% / reading 72%, grade D+, #100 of 222 statewide, top 47%, 736 students, 48% FRL).
• Market conditions: 102 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Allegany County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 22y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $98k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000 (11.1% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.89% ✗
• Cap rate: 7.23%
• Cash-on-cash: 3.35%
• DSCR: 1.15
• GRM: 9.4

CMA / ARV

• ARV (median comp): $135,413
• List price: $135,000
• Delta: -0.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
142 Hill St	0.09mi	3/1.0 (-1)	1,603 (-4%)	8mo	$180,000	$112	75
158 Center St	0.31mi	3/1.5 (-1)	1,560 (-7%)	1mo	$177,250	$114	69
76 Spring St	0.29mi	3/1.5 (-1)	1,820 (+9%)	0mo	$182,000	$100	67
116 Armstrong St	0.54mi	3/2.0 (-1)	1,660 (-1%)	1mo	$275,000	$166	66
84 Hill St	0.18mi	4/2.0	1,428 (-15%)	9mo	$150,000	$105	58
153 Bowery St	0.14mi	5/2.0 (+1)	1,920 (+15%)	6mo	$130,000	$68	57
180 E Mechanic St	0.58mi	3/2.0 (-1)	1,604 (-4%)	9mo	$163,000	$102	52
111 Wood St	0.45mi	5/2.0 (+1)	1,555 (-7%)	13mo	$220,000	$141	49
279 E Main St NE	0.73mi	3/3.0 (-1)	1,620 (-3%)	6mo	$199,900	$123	45
133 Maple St	0.45mi	5/2.0 (+1)	1,464 (-12%)	13mo	$113,000	$77	40
102 Maple St	0.50mi	5/2.0 (+1)	1,904 (+14%)	10mo	$150,000	$79	38
256 E Main St	0.72mi	3/1.0 (-1)	1,916 (+15%)	3mo	$199,900	$104	32

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: -11.1%
• Equity multiple: 0.60×
• Total profit: $-15,188
• Equity at exit: $20,129

10-year hold

• IRR: -1.8%
• Equity multiple: 0.88×
• Total profit: $-4,719
• Equity at exit: $11,672

Cash invested: $37,800 (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 21532

• Home prices YoY: -24.2%
• Active inventory: 102
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,200 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$78 /mo · $939/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $106

Break-even live

Break-even rent $1,066

Max offer price $135,000

Occupancy floor 86%

Sensitivity live

Price	-10% $182	-5% $144	+0% $106	+5% $67	+10% $29
Rent	-10% $11	-5% $58	+0% $106	+5% $153	+10% $200
Rate	-1.0pp $174	-0.5pp $140	base $106	+0.5pp $71	+1.0pp $35

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Bob Cat Ct Frostburg, MD	2.0–4.0	1.0–2.0	965	$1,200	$1.24	45d	6	0.61mi

Listing history 50 events

1. 2026-06-21
   days on market $135,000 Active 37 DOM
2. 2026-06-19
   days on market $135,000 Active 35 DOM
3. 2026-06-18
   days on market $135,000 Active 34 DOM
4. 2026-06-17
   days on market $135,000 Active 33 DOM
5. 2026-06-16
   days on market $135,000 Active 32 DOM
6. 2026-06-15
   days on market $135,000 Active 31 DOM
7. 2026-06-14
   days on market $135,000 Active 29 DOM
8. 2026-06-12
   remarks 699-char remark
9. 2026-06-12
   pricedays on market $135,000 Active 28 DOM
10. 2026-06-09
    days on market $144,990 Active 25 DOM
11. 2026-06-08
    days on market $144,990 Active 24 DOM
12. 2026-06-07
    days on market $144,990 Active 23 DOM
13. 2026-06-02
    days on market $144,990 Active 18 DOM
14. 2026-06-01
    days on market $144,990 Active 17 DOM
15. 2026-05-31
    days on market $144,990 Active 16 DOM
16. 2026-05-30
    days on market $144,990 Active 15 DOM
17. 2026-05-15
    listed $144,990 Active 648-char remark
18. 2026-05-13
    historical $144,990 648-char remark
19. 2025-12-12
    historical
20. 2025-10-13
    status Active
21. 2025-10-07
    status Pending
22. 2025-09-19
    price $100,000
23. 2025-08-18
    price $115,000
24. 2025-07-15
    price $124,900
25. 2025-06-20
    listed $139,900 Active
26. 2025-06-18
    historical
27. 2022-05-23
    soldstatus $97,500
28. 2022-05-12
    soldstatus $97,500 Closed

    Show marketing remark (283 chars)

    Gorgeous home located just a few minute walk from Frostburg University! 4 big bedrooms and lots of space inside! Large backyard! Parking spaces around back please park here for viewings! Lots of updates new roof put on last year! Priced to sell you don’t want to miss this one!

29. 2022-04-09
    status Pending

    Show marketing remark (283 chars)

    Gorgeous home located just a few minute walk from Frostburg University! 4 big bedrooms and lots of space inside! Large backyard! Parking spaces around back please park here for viewings! Lots of updates new roof put on last year! Priced to sell you don’t want to miss this one!

30. 2022-03-25
    listed $97,500 Active

    Show marketing remark (283 chars)

    Gorgeous home located just a few minute walk from Frostburg University! 4 big bedrooms and lots of space inside! Large backyard! Parking spaces around back please park here for viewings! Lots of updates new roof put on last year! Priced to sell you don’t want to miss this one!

31. 2021-08-29
    historical
32. 2021-08-20
    status Active
33. 2021-08-06
    historical Active Under Contract
34. 2021-06-07
    status Active
35. 2021-05-21
    historical Active Under Contract
36. 2021-04-27
    price $99,990
37. 2021-03-15
    listed $104,990 Active
38. 2020-07-29
    historical
39. 2019-01-02
    status Active
40. 2019-01-01
    historical
41. 2018-09-25
    listed $74,900 Active
42. 2018-07-26
    historical
43. 2018-07-26
    historical Expired
44. 2018-05-25
    price $89,900
45. 2018-05-25
    price
46. 2018-04-09
    price $94,900
47. 2018-04-09
    price
48. 2018-01-25
    listed $99,000 Active
49. 2018-01-25
    listed Active
50. 2017-05-30
    historical

ⓘ 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: $939 · $78/mo
• Projected year-2 tax: $1,205 · $100/mo
• Expected delta: +$266/yr (+$22/mo · 28.4%)

ⓘ 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 3/10 Moderate 7 d/yr ≥89°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,400
• − Mortgage interest: −$7,562
• − Property taxes: −$939
• − Insurance: −$675
• − Repairs & maintenance: −$1,152
• − Management: −$1,152
• − Depreciation: −$3,927
• Taxable loss: −$1,007
• Est. tax savings @ 24.0%: +$242
• After-tax cash flow: $1,509/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: Allegany County Public Schools
• NCES district ID: 2400030
• Math proficiency: 15% ▼ -26.00%
• Reading proficiency: 30% ▼ -20.00%
• Median HH income: $39,760
• Composite: 18.95/100
• National rank: #8854
• State rank: #18 of 24 in MD

Livability — Frostburg

• Score: 87/100
• State rank: #7
• US rank: #287

Category grades

Amenities A+ Commute A- 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

• Census place: Frostburg, MD
• Population (ZIP): 13,123

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 68,778 people
• By 2030: 66,766 · -2.9%
• By 2040: 62,784 · -8.7%
• By 2050: 59,179 · -14.0%
• By 2075: 50,732 · -26.2%
• By 2100: 40,837 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 6% Two or more races 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Slovak 5% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+40.3) · D 28.9% · R 69.2% · Other 2.0%
• 2008→2024 swing: -14.4pp toward R · 2008: -25.9pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+38.3 2016: R+48.0 2012: R+32.9 2008: R+25.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.31%
• Current HPI: 244.5937
• 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

+95.7% since first listed

55 events — show timeline

• 2026-06-10 Price Changed $135,000 BRIGHT MLS
• 2026-05-15 Listed $144,990 BRIGHT MLS
• 2026-05-13 Coming Soon $144,990 BRIGHT MLS
• 2025-12-12 Listing Removed — BRIGHT MLS
• 2025-10-13 Relisted — BRIGHT MLS
• 2025-10-07 Pending — BRIGHT MLS
• 2025-09-19 Price Changed $100,000 BRIGHT MLS
• 2025-08-18 Price Changed $115,000 BRIGHT MLS
• 2025-07-15 Price Changed $124,900 BRIGHT MLS
• 2025-06-20 Listed $139,900 BRIGHT MLS
• 2025-06-18 Coming Soon — BRIGHT MLS
• 2022-05-23 Sold (Public Records) $97,500 Public Records
• 2022-05-12 Sold (MLS) $97,500 BRIGHT MLS
• 2022-04-09 Pending — BRIGHT MLS
• 2022-03-25 Listed $97,500 BRIGHT MLS
• 2021-08-29 Listing Removed — BRIGHT MLS
• 2021-08-20 Relisted — BRIGHT MLS
• 2021-08-06 Contingent — BRIGHT MLS
• 2021-06-07 Relisted — BRIGHT MLS
• 2021-05-21 Contingent — BRIGHT MLS
• 2021-04-27 Price Changed $99,990 BRIGHT MLS
• 2021-03-15 Listed $104,990 BRIGHT MLS
• 2020-07-29 Listing Removed — BRIGHT MLS
• 2019-01-02 Relisted — BRIGHT MLS
• 2019-01-01 Listing Removed — BRIGHT MLS
• 2018-09-25 Listed $74,900 BRIGHT MLS
• 2018-07-26 Listing Removed — BRIGHT MLS
• 2018-07-26 Delisted — MRIS
• 2018-05-25 Price Changed $89,900 BRIGHT MLS
• 2018-05-25 Price Changed — MRIS
• 2018-04-09 Price Changed $94,900 BRIGHT MLS
• 2018-04-09 Price Changed — MRIS
• 2018-01-25 Listed — MRIS
• 2018-01-25 Listed $99,000 BRIGHT MLS
• 2017-05-30 Listing Removed — BRIGHT MLS
• 2017-05-30 Delisted — MRIS
• 2016-02-22 Listed — MRIS
• 2016-02-22 Listed $85,000 BRIGHT MLS
• 2016-01-01 Listing Removed — BRIGHT MLS
• 2016-01-01 Delisted — MRIS
• 2015-02-17 Listed $99,000 BRIGHT MLS
• 2015-02-17 Listed — MRIS
• 2011-11-07 Sold (MLS) $40,000 BRIGHT MLS
• 2011-11-07 Sold (MLS) $40,000 MRIS
• 2011-08-15 Pending — MRIS
• 2011-08-11 Listing Removed — BRIGHT MLS
• 2011-07-26 Price Changed $50,000 MRIS
• 2011-07-19 Listed $100,000 MRIS
• 2011-07-19 Listed $50,000 BRIGHT MLS
• 2011-01-01 Listing Removed — BRIGHT MLS
• 2009-07-15 Listed $93,000 BRIGHT MLS
• 2006-10-17 Sold (Public Records) $66,000 Public Records
• 2006-01-20 Sold (MLS) $66,000 MRIS
• 2005-12-05 Delisted — MRIS
• 2004-09-30 Listed $69,000 MRIS

Property tax history

+2.1%/yr

Latest (2025): $939 · +6.8% YoY. Source: county tax records.