212 Main St S · Hurlock, MD 21643

$112,000

3 bd · 1.0 ba · 1,732 sqft · SingleFamily public records · 76 Days on market

Built 1920 8,712 sqft lot $65/sqft · 45% below area Est $203k · 45% under

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

Investor Alert / Fixer-Upper Opportunity! Unlock the potential in this two-level home ready for your vision and finishing touches. Previous renovations have been started, offering a great head start for your next project. The main level features a full bath and a versatile bonus room—perfect for a home office, den, family room, or even a potential 4th bedroom. Upstairs, you’ll find a wide hallway leading to three bedrooms and a spacious full bath. Endless possibilities await—bring your creativity and make this home shine! A must-see opportunity for investors or buyers looking to customize their dream space.

Key facts

• Bonus room
• Full bath
• Wide hallway

Tags

• TWO-LEVEL HOME
• FULL BATH
• BONUS ROOM
• WIDE HALLWAY
• THREE BEDROOMS
• SPACIOUS FULL BATH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $715 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $112k).
• Recommended offer: $105k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.0% vs local median 6.0% in Hurlock — 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 61/100 on livability (#332 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D+, 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: 36 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $12k of equity ($774 loan paydown + $11k appreciation (10.0% local appreciation)).
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 31y ago; this cycle's ask has dropped $28k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $112k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 63% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,280 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.61% ✓
• Cap rate: 13.95%
• Cash-on-cash: 27.35%
• DSCR: 2.22
• GRM: 5.2

CMA / ARV

• ARV (median comp): $203,170
• List price: $112,000
• Delta: -44.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
312 Charles St	0.19mi	3/1.0	1,616 (-7%)	5mo	$209,000	$129	75
101 Maryland Ave	0.06mi	3/1.0	1,578 (-9%)	16mo	$70,000	$44	69
104 Andrews	0.12mi	3/1.5	1,563 (-10%)	9mo	$200,000	$128	69
415 S Main St	0.33mi	4/2.0 (+1)	1,757 (+1%)	13mo	$96,000	$55	62
103 Dogwood Dr	0.26mi	4/2.0 (+1)	1,680 (-3%)	15mo	$275,000	$164	62
311 Prospect St	0.32mi	3/2.0	1,536 (-11%)	3mo	$289,900	$189	60
310 Charles St	0.17mi	4/1.5 (+1)	1,550 (-10%)	13mo	$212,000	$137	57
306 N Main	0.35mi	3/2.0	1,869 (+8%)	14mo	$180,000	$96	55
309 Collins Ave	0.39mi	3/1.0	1,532 (-12%)	14mo	$237,350	$155	51
202 Taylor Ave	0.36mi	3/3.0	1,497 (-14%)	15mo	$297,000	$198	40
101 Martin Dr	0.70mi	3/2.5	1,512 (-13%)	8mo	$280,000	$185	34
101 Miles Cir	0.70mi	3/2.5	1,924 (+11%)	15mo	$299,900	$156	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 45.0%
• Equity multiple: 4.40×
• Total profit: $106,511
• Equity at exit: $100,898

10-year hold

• IRR: 39.0%
• Equity multiple: 9.86×
• Total profit: $277,827
• Equity at exit: $217,591

Cash invested: $31,360 (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 21643

• Home prices YoY: 15.5%
• Active inventory: 36
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$587
• Tax from tax record: −$73 /mo · $878/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $715

Break-even live

Break-even rent $895

Max offer price $112,000

Occupancy floor 55%

Sensitivity live

Price	-10% $778	-5% $747	+0% $715	+5% $683	+10% $651
Rent	-10% $573	-5% $644	+0% $715	+5% $786	+10% $857
Rate	-1.0pp $771	-0.5pp $743	base $715	+0.5pp $686	+1.0pp $656

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Broad St Hurlock, MD	3.0	2.0	1248	$1,800	$1.44	45d	1	0.27mi

Listing history 46 events

1. 2026-06-21
   days on market $112,000 Active 76 DOM
2. 2026-06-21
   days on market $112,000 Active 75 DOM
3. 2026-06-18
   days on market $112,000 Active 73 DOM
4. 2026-06-17
   days on market $112,000 Active 72 DOM
5. 2026-06-16
   days on market $112,000 Active 71 DOM
6. 2026-06-15
   days on market $112,000 Active 70 DOM
7. 2026-06-13
   days on market $112,000 Active 68 DOM
8. 2026-06-12
   days on market $112,000 Active 67 DOM
9. 2026-06-09
   days on market $112,000 Active 64 DOM
10. 2026-06-08
    days on market $112,000 Active 63 DOM
11. 2026-06-07
    days on market $112,000 Active 62 DOM
12. 2026-06-07
    days on market $112,000 Active 61 DOM
13. 2026-06-04
    days on market $112,000 Active 58 DOM
14. 2026-06-02
    days on market $112,000 Active 57 DOM
15. 2026-06-01
    days on market $112,000 Active 56 DOM
16. 2026-05-31
    days on market $112,000 Active 55 DOM
17. 2026-05-31
    days on market $112,000 Active 54 DOM
18. 2026-04-24
    price $120,000 632-char remark

    Show marketing remark (632 chars)

    Investor Alert / Fixer-Upper Opportunity! Unlock the potential in this two-level home ready for your vision and finishing touches. Previous renovations have been started, offering a great head start for your next project. The main level features a full bath and a versatile bonus room—perfect for a home office, den, family room, or even a potential 4th bedroom. Upstairs, you’ll find a wide hallway leading to three bedrooms and a spacious full bath. Endless possibilities await—bring your creativity and make this home shine! A must-see opportunity for investors or buyers looking to customize their dream space.

19. 2026-04-06
    listed $140,000 Active 632-char remark

    Show marketing remark (632 chars)

    Investor Alert / Fixer-Upper Opportunity! Unlock the potential in this two-level home ready for your vision and finishing touches. Previous renovations have been started, offering a great head start for your next project. The main level features a full bath and a versatile bonus room—perfect for a home office, den, family room, or even a potential 4th bedroom. Upstairs, you’ll find a wide hallway leading to three bedrooms and a spacious full bath. Endless possibilities await—bring your creativity and make this home shine! A must-see opportunity for investors or buyers looking to customize their dream space.

20. 2025-12-29
    historical
21. 2025-03-18
    price $150,000
22. 2025-03-11
    price $170,000
23. 2025-02-21
    listed $190,000 Active
24. 2020-09-10
    soldstatus $35,000 Closed
25. 2020-09-03
    status Pending
26. 2020-07-30
    listed $29,900 Active
27. 2006-01-24
    soldstatus $140,000
28. 2006-01-20
    soldstatus $140,000
29. 2005-12-13
    historical
30. 2005-10-06
    listed $150,000
31. 2004-10-07
    soldstatus $35,000
32. 2004-09-27
    soldstatus $35,000
33. 2004-08-25
    historical
34. 2004-04-22
    listed $35,000
35. 2003-11-15
    historical
36. 2003-05-15
    listed
37. 1999-07-16
    soldstatus $37,000
38. 1999-07-15
    soldstatus $37,000
39. 1999-06-08
    historical
40. 1997-07-25
    listed $37,000
41. 1997-06-08
    historical
42. 1996-06-08
    historical
43. 1995-03-08
    listed
44. 1995-03-08
    listed
45. 1993-06-30
    soldstatus $54,900
46. 1993-04-12
    soldstatus $17,000

ⓘ 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: $878 · $73/mo
• Projected year-2 tax: $1,050 · $87/mo
• Expected delta: +$171/yr (+$14/mo · 19.5%)

ⓘ 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 9/10 Extreme 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 63% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$6,274
• − Property taxes: −$878
• − Insurance: −$560
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$3,258
• Taxable income: $7,174
• Est. tax owed @ 24.0%: −$1,722
• After-tax cash flow: $6,856/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 — Hurlock

• Score: 61/100
• State rank: #332
• US rank: #17536

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hurlock, MD
• Population (ZIP): 5,176

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 61% Black 28% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Lithuanian 2% Italian 2% Romanian 1%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 3%

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: ▲ 52.36%
• Current HPI: 390.419
• 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

+605.9% since first listed

29 events — show timeline

• 2026-04-24 Price Changed $120,000 BRIGHT MLS
• 2026-04-06 Listed $140,000 BRIGHT MLS
• 2025-12-29 Listing Removed — BRIGHT MLS
• 2025-03-18 Price Changed $150,000 BRIGHT MLS
• 2025-03-11 Price Changed $170,000 BRIGHT MLS
• 2025-02-21 Listed $190,000 BRIGHT MLS
• 2020-09-10 Sold (MLS) $35,000 BRIGHT MLS
• 2020-09-03 Pending — BRIGHT MLS
• 2020-07-30 Listed $29,900 BRIGHT MLS
• 2006-01-24 Sold (Public Records) $140,000 Public Records
• 2006-01-20 Sold (MLS) $140,000 MRIS
• 2005-12-13 Delisted — MRIS
• 2005-10-06 Listed $150,000 MRIS
• 2004-10-07 Sold (Public Records) $35,000 Public Records
• 2004-09-27 Sold (MLS) $35,000 MRIS
• 2004-08-25 Delisted — MRIS
• 2004-04-22 Listed $35,000 MRIS
• 2003-11-15 Delisted — MRIS
• 2003-05-15 Listed — MRIS
• 1999-07-16 Sold (Public Records) $37,000 Public Records
• 1999-07-15 Sold (MLS) $37,000 MRIS
• 1999-06-08 Delisted — MRIS
• 1997-07-25 Listed $37,000 MRIS
• 1997-06-08 Delisted — MRIS
• 1996-06-08 Delisted — MRIS
• 1995-03-08 Listed — MRIS
• 1995-03-08 Listed — MRIS
• 1993-06-30 Sold (Public Records) $54,900 Public Records
• 1993-04-12 Sold (Public Records) $17,000 Public Records

Property tax history

-2.5%/yr

Latest (2025): $878 · +20.8% YoY. Source: county tax records.