105 Lakeview Dr · Salisbury, MD 21804

$185,000

3 bd · 1.0 ba · 1,381 sqft · SingleFamily public records · 44 Days on market

Built 1956 0.39 ac lot Est $280k · 34% 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 +20.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.6/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

This is a combination Estate sale and pre-approved short sale. Property is being sold "As Is". 3Bd/1ba rancher with off street parking, a 2 car detached garage and storage shed. Property needs new septic. Possible opportunity for handy Owner Occupant or investor looking to add to their portfolio. PR requests the property be on the market for 7 days before reviewing offers Both Asset Manager and PR prefer using Gemini Title and Escrow.

Key facts

• 0.39 acre lot
• 2 garage spots
• Built 1956

Property features AI

Exterior

• Parking: Detached front-entry garage with two garage spaces; Driveway and off-street parking (total 2 parking spaces)
• Utilities: Private water source; Private septic tank; Electric heating and hot water; Electric cooling
• Home design: Detached property; Shingle (asphalt) roof; Fee simple ownership; Crawl space foundation; Building winterized
• Construction: Brick and vinyl siding exterior; Built year source: Assessor
• Exterior features: Property is outside city limits; Not in a federal flood zone; Other structures listed above and below grade

Interior

• Kitchen: Kitchen included
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Hot water and baseboard heating (electric); Central air conditioning
• Interior features: Living room; Dining room; Kitchen; No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/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 $178k (3.5% below list).
• Recommended offer: $178k (3.5% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.8% in Salisbury — 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 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.8%/yr); 195 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 278 units permitted in Wicomico County in 2024 (44 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 $6k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; list at $185k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 80% 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 $178,446 (3.5% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — 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 D-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. 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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 7.82%
• Cash-on-cash: 5.47%
• DSCR: 1.24
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $280,343
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1410 Galway Cir	0.24mi	3/2.5	1,344 (-3%)	5mo	$240,000	$179	75
122 May Dr	0.21mi	3/2.0	1,344 (-3%)	9mo	$349,900	$260	74
1506 Rose Dr	0.45mi	3/2.0	1,428 (+3%)	4mo	$280,000	$196	66
203 Shannon Ct	0.36mi	3/2.5	1,344 (-3%)	8mo	$272,500	$203	66
111 Francis Dr	0.58mi	3/1.5	1,346 (-2%)	3mo	$240,000	$178	64
1515 Magnolia Dr	0.66mi	3/2.0	1,392 (+1%)	1mo	$313,000	$225	63
207 Morris Dr	0.39mi	3/2.0	1,450 (+5%)	8mo	$295,000	$203	63
119 Lakewood Dr	0.33mi	4/1.0 (+1)	1,248 (-10%)	1mo	$150,000	$120	63
1410 Limrock Ct	0.25mi	3/2.0	1,224 (-11%)	8mo	$255,000	$208	59
202 Donegal Ct	0.28mi	3/2.5	1,552 (+12%)	6mo	$280,000	$180	56
415 Creekside Trl	0.72mi	4/2.0 (+1)	1,388 (+0%)	3mo	$315,000	$227	54
210 Hunters Way	0.59mi	3/2.0	1,296 (-6%)	7mo	$275,000	$212	52

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-13,573
• Equity at exit: $27,584

10-year hold

• IRR: 3.4%
• Equity multiple: 1.26×
• Total profit: $13,268
• Equity at exit: $15,995

Cash invested: $51,800 (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 21804

• Home prices YoY: -26.7%
• Rents YoY: 3.8%
• Active inventory: 195
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,784 high
• Mortgage (P&I): −$970
• Tax from tax record: −$126 /mo · $1,518/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $236

Break-even live

Break-even rent $1,486

Max offer price $185,000

Occupancy floor 82%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1405 Bantry Ln Salisbury, MD	2.0	2.0	986	$1,800	$1.83	21d	1	0.35mi
255 Canal Park Dr Apt C Salisbury, MD	4.0	2.0	1250	$1,600	$1.28	43d	1	0.59mi
146 Onley Rd Salisbury, MD	3.0	1.0	960	$1,550	$1.61	43d	1	0.81mi
101 Cedar Xing Salisbury, MD	4.0	2.0–4.0	965	$1,375	$1.42	13d	9	0.81mi
1014 Cecil St Salisbury, MD	3.0	1.0	1023	$1,500	$1.47	43d	1	1.18mi
306 Carrollton Ave Salisbury, MD	4.0	1.0	1163	$1,700	$1.46	43d	1	1.18mi
1000 Marley Manor Dr Salisbury, MD	2.0–3.0	2.0	1225	$2,076	$1.69	13d	20	1.20mi
732 Wye Oak Dr Fruitland, MD	3.0	2.5	1396	$2,300	$1.65	43d	1	1.27mi
1022 Adams Ave Unit 1D Salisbury, MD	2.0	1.0	918	$1,400	$1.53	43d	1	1.27mi
315 Princeton Ave Salisbury, MD	4.0	1.0	1023	$1,500	$1.47	43d	1	1.28mi
421 Loblolly Ln Salisbury, MD	3.0	2.0	1514	$2,250	$1.49	43d	1	1.29mi
1017 Tyler Ave Salisbury, MD	2.0	1.0	1024	$1,650	$1.61	21d	1	1.32mi
103 W Main St Fruitland, MD	2.0	1.0	1200	$1,100	$0.92	21d	1	1.35mi
1008 Adams Ave Unit 11D Salisbury, MD	2.0	1.0	918	$1,250	$1.36	21d	1	1.35mi
830 Larch Way Salisbury, MD	3.0	3.0	1568	$2,000	$1.28	43d	1	1.43mi
830 Larch Way Salisbury, MD	3.0	2.5	1568	$2,000	$1.28	13d	1	1.43mi
830 Larch Way Unit 1 Salisbury, MD	3.0	2.5	1568	$1,900	$1.21	13d	1	1.43mi
508 Hayward Ave Fruitland, MD	2.0	1.0	992	$1,450	$1.46	43d	1	1.43mi
1017 Baccharis Dr Salisbury, MD	3.0	2.5	1568	$1,895	$1.21	13d	1	1.50mi

Listing history 20 events

1. 2026-06-18
   days on market $185,000 Active 44 DOM
2. 2026-06-17
   days on market $185,000 Active 43 DOM
3. 2026-06-16
   days on market $185,000 Active 42 DOM
4. 2026-06-15
   days on market $185,000 Active 41 DOM
5. 2026-06-14
   days on market $185,000 Active 39 DOM
6. 2026-06-13
   days on market $185,000 Active 38 DOM
7. 2026-06-10
   days on market $185,000 Active 36 DOM
8. 2026-06-09
   days on market $185,000 Active 35 DOM
9. 2026-06-08
   days on market $185,000 Active 34 DOM
10. 2026-06-07
    days on market $185,000 Active 33 DOM
11. 2026-06-03
    days on market $185,000 Active 29 DOM
12. 2026-06-02
    days on market $185,000 Active 28 DOM
13. 2026-06-01
    days on market $185,000 Active 27 DOM
14. 2026-05-31
    days on market $185,000 Active 26 DOM
15. 2026-05-30
    days on market $185,000 Active 25 DOM
16. 2026-05-22
    status Active
17. 2026-04-24
    status Pending
18. 2026-04-07
    listed $199,900 Active
19. 1988-10-15
    soldstatus $68,900
20. 1982-11-29
    soldstatus $38,200

ⓘ 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: $1,518 · $126/mo
• Projected year-2 tax: $1,767 · $147/mo
• Expected delta: +$249/yr (+$21/mo · 16.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,414
• − Mortgage interest: −$10,363
• − Property taxes: −$1,518
• − Insurance: −$925
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$5,382
• Taxable loss: −$200
• Est. tax savings @ 24.0%: +$48
• After-tax cash flow: $2,880/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: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 40,430
• Household income: $73,156
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 2096.0

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 54% Black 30% Two or more races 9% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · French/Haitian/Cajun 7% Spanish 5% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.15%
• Current HPI: 230.6099
• Rent YoY: ▲ 3.78%
• Metro: Salisbury, MD-DE
• 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

+423.3% since first listed

5 events — show timeline

• 2026-05-22 Relisted — BRIGHT MLS
• 2026-04-24 Pending — BRIGHT MLS
• 2026-04-07 Listed $199,900 BRIGHT MLS
• 1988-10-15 Sold (Public Records) $68,900 Public Records
• 1982-11-29 Sold (Public Records) $38,200 Public Records

Property tax history

+2.8%/yr

Latest (2025): $1,518 · +1.2% YoY. Source: county tax records.