218 W End Ave · Cambridge, MD 21613

$210,000

4 bd · 2.0 ba · 2,017 sqft · SingleFamily public records · 43 Days on market

Built 1914 5,175 sqft lot $104/sqft · 26% above area Est $166k · 26% over

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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 +26.4/30.0
• DSCR +9.0/10.0
• 1% rule +6.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Victorian Duplex Investment Opportunity in Historic Cambridge, MD – Value-Add Cash Flow Potential! This classic Victorian home in Cambridge’s historic district is currently configured as a duplex and offers a strong value-add investment for investors looking to create immediate and long-term cash flow on Maryland’s Eastern Shore. The property features two separately metered units with private entrances. Unit 1 includes 2 bedrooms and 1 bath, while Unit 2 offers 2 bedrooms and 1 bath. While the home requires some updates, it presents an excellent opportunity in a solid rental market.

Key facts

• Victorian duplex
• Private entrances
• Strong rental market

Tags

• VICTORIAN DUPLEX
• HISTORIC DISTRICT
• SEPARATELY METERED UNITS
• PRIVATE ENTRANCES
• STRONG RENTAL MARKET

Property features AI

Finance

• Other: Fee simple ownership; Two total units; Above-grade finished area approximately 2,017 (estimated)

Exterior

• Parking: On-street parking; Off-street parking; Garage(s)
• Utilities: 200+ amp electric service; Public water; Public sewer
• Home design: Detached structure; Architectural shingle roof; Vinyl siding; Double-pane windows
• Construction: Vinyl siding construction; Architectural shingle roof; Foundation: Other; Utility building on site
• Exterior features: Outbuilding(s); Sidewalks; Corner lot

Interior

• Kitchen: Refrigerator; Six-burner stove; Stove
• Bedrooms: Two 2-bedroom units (multi-family)
• Flooring: Carpet; Hardwood
• Heating & cooling: Hot water: Electric
• Interior features: Drywall interior walls and ceilings; Other interior features

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $204k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.2% in Cambridge — 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 (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime 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: 294 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 81 units permitted in Dorchester County in 2024 (0 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.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $59k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $72k; list at $210k implies a 190% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 70% 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 $203,700 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1914 — 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. 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: 1.15% ✓
• Cap rate: 9.43%
• Cash-on-cash: 11.20%
• DSCR: 1.50
• GRM: 7.2

CMA / ARV

• ARV (median comp): $166,314
• List price: $210,000
• Delta: 26.27%
• Verdict: OVERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
123 Choptank Ave	0.09mi	5/2.0 (+1)	2,097 (+4%)	1mo	$85,000	$41	83
306 Oakley St	0.12mi	4/2.0	1,905 (-6%)	6mo	$415,000	$218	80
109 Willis St	0.16mi	3/2.5 (-1)	2,032 (+1%)	6mo	$295,000	$145	79
113 Talbot Ave	0.40mi	4/2.0	1,953 (-3%)	5mo	$200,000	$102	72
5 Willis St	0.22mi	3/2.0 (-1)	1,863 (-8%)	1mo	$270,000	$145	71
107 W End Ave	0.16mi	3/2.0 (-1)	1,836 (-9%)	4mo	$275,000	$150	69
210 Choptank Ave	0.06mi	3/1.5 (-1)	1,744 (-14%)	2mo	$245,000	$140	66
417 Talbot Ave	0.49mi	4/2.5	2,112 (+5%)	6mo	$375,000	$178	62
107 Somerset Ave	0.49mi	4/2.0	1,900 (-6%)	8mo	$389,900	$205	60
412 Talbot Ave	0.45mi	3/2.0 (-1)	1,809 (-10%)	7mo	$325,000	$180	51
314 Muir St	0.57mi	3/1.5 (-1)	1,796 (-11%)	1mo	$76,500	$43	47
601 Edlon Park Dr	0.70mi	3/2.5 (-1)	1,860 (-8%)	3mo	$270,000	$145	45

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: 0.4%
• Equity multiple: 1.02×
• Total profit: $913
• Equity at exit: $31,312

10-year hold

• IRR: 10.0%
• Equity multiple: 1.78×
• Total profit: $45,738
• Equity at exit: $18,157

Cash invested: $58,800 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 294
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,419 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$173 /mo · $2,081/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $549

Break-even live

Break-even rent $1,724

Max offer price $210,000

Occupancy floor 72%

Sensitivity live

Price	-10% $668	-5% $608	+0% $549	+5% $489	+10% $430
Rent	-10% $358	-5% $453	+0% $549	+5% $644	+10% $740
Rate	-1.0pp $655	-0.5pp $602	base $549	+0.5pp $494	+1.0pp $439

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
414 Waterfield Ct Cambridge, MD	3.0	2.5	2000	$2,395	$1.20	44d	1	0.66mi
401 N Seaway Ct Cambridge, MD	3.0	2.5	1867	$2,600	$1.39	44d	1	0.76mi
318 E Appleby Ave Cambridge, MD	3.0	2.5	1536	$2,100	$1.37	44d	1	1.33mi

Listing history 21 events

1. 2026-06-21
   days on market $210,000 Active 43 DOM
2. 2026-06-18
   days on market $210,000 Active 41 DOM
3. 2026-06-17
   days on market $210,000 Active 40 DOM
4. 2026-06-16
   days on market $210,000 Active 39 DOM
5. 2026-06-15
   days on market $210,000 Active 38 DOM
6. 2026-06-13
   days on market $210,000 Active 36 DOM
7. 2026-06-12
   days on market $210,000 Active 35 DOM
8. 2026-06-09
   days on market $210,000 Active 32 DOM
9. 2026-06-08
   days on market $210,000 Active 31 DOM
10. 2026-06-07
    days on market $210,000 Active 30 DOM
11. 2026-06-07
    days on market $210,000 Active 29 DOM
12. 2026-06-04
    days on market $210,000 Active 26 DOM
13. 2026-06-02
    days on market $210,000 Active 25 DOM
14. 2026-06-01
    days on market $210,000 Active 24 DOM
15. 2026-05-31
    days on market $210,000 Active 23 DOM
16. 2026-05-31
    days on market $210,000 Active 22 DOM
17. 2026-05-08
    listed $210,000 Active 608-char remark
18. 2022-05-09
    historical
19. 2021-11-29
    price $194,500
20. 2021-11-09
    listed $209,500 Active
21. 1989-12-27
    soldstatus $72,500

ⓘ 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: $2,081 · $173/mo
• Projected year-2 tax: $2,185 · $182/mo
• Expected delta: +$104/yr (+$9/mo · 5.0%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% 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: $29,029
• − Mortgage interest: −$11,763
• − Property taxes: −$2,081
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,322
• − Management: −$2,322
• − Depreciation: −$6,109
• Taxable income: $3,381
• Est. tax owed @ 24.0%: −$811
• After-tax cash flow: $5,775/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 — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

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 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 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: ▼ -91.03%
• Current HPI: 271.1127
• 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

+189.7% since first listed

5 events — show timeline

• 2026-05-08 Listed $210,000 BRIGHT MLS
• 2022-05-09 Listing Removed — BRIGHT MLS
• 2021-11-29 Price Changed $194,500 BRIGHT MLS
• 2021-11-09 Listed $209,500 BRIGHT MLS
• 1989-12-27 Sold (Public Records) $72,500 Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,081 · +12.5% YoY. Source: county tax records.