507 E Main St · Emmitsburg, MD 21727

$74,900

3 bd · 1.0 ba · 1,208 sqft · SingleFamily public records · 7 Days on market

Built 1947 6,000 sqft lot

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Offer Deadline of Wednesday June 17th at 50m. Great location with a double lot alongside 509 E Main St with Mixed Use Zoning for $74,900. Tear down the existing structure and build something great! Hold Harmless Agreement Required to Show which can be found in Documents.

Key facts

• Double lot
• Mixed use zoning
• 6,000 sq ft lot

Tags

• DOUBLE LOT
• MIXED USE ZONING

Property features AI

Finance

• Other: Ground rent paid annually
• Financial info: Land assessed separately from improvements; Improvement and land assessed values available

Exterior

• Parking: Other parking
• Utilities: Public water; Public sewer
• Home design: Detached property; Fee simple ownership
• Construction: Vinyl siding; Other foundation; Above-grade and below-grade other structures; Year built per assessor
• Exterior features: Additional lot(s); Tidal water not present

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Other heating; Other cooling; Other hot water
• Interior features: No basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $738 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 18.1% vs local median 2.0% in Emmitsburg — 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 74/100 on livability (#114 in MD, #4,757 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F, commute F.
• Frederick County Public Schools (other): math 27% / reading 43% proficiency, ranked #4 of 24 in MD (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Emmitsburg Elementary (math 17% / reading 17%, grade F, #408 of 860 statewide, top 50%, 216 students, 42% FRL); Thurmont Middle (math 11% / reading 37%, grade F, #114 of 225 statewide, top 52%, 546 students, 41% FRL); Catoctin High (math 62% / reading 67%, grade B-, #55 of 222 statewide, top 26%, 784 students, 34% FRL) — zoned schools average 39% FRL vs 20% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 1,562 units permitted in Frederick County in 2024 (374 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $518 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Frederick County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 25y 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.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,900

Questions for the listing agent

1. Built in 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 2.19% ✓
• Cap rate: 18.11%
• Cash-on-cash: 42.21%
• DSCR: 2.88
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $259,720
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9 Heritage Ln	0.18mi	3/2.0	1,236 (+2%)	0mo	$340,000	$275	83
12 1st Ave	0.15mi	3/1.5	1,131 (-6%)	15mo	$270,000	$239	68
17335 N Seton Ave	0.41mi	2/1.0 (-1)	1,170 (-3%)	11mo	$251,000	$215	62
1008 Flat Run Ct	0.12mi	3/2.0	1,108 (-8%)	18mo	$345,000	$311	62
325 N Seton Ave	0.35mi	3/1.0	1,080 (-11%)	10mo	$185,000	$171	58
111 Seton Ave N	0.38mi	3/1.0	1,386 (+15%)	13mo	$140,000	$101	47
17347 N Seton Ave N	0.43mi	3/2.0	1,384 (+15%)	15mo	$250,000	$181	39

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: 38.9%
• Equity multiple: 2.66×
• Total profit: $34,899
• Equity at exit: $11,168

10-year hold

• IRR: 45.4%
• Equity multiple: 5.34×
• Total profit: $91,089
• Equity at exit: $6,476

Cash invested: $20,972 (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 21727

• Home prices YoY: -5.7%
• Active inventory: 29
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,637 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$131 /mo · $1,574/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$344
• Net cashflow: $738

Break-even live

Break-even rent $703

Max offer price $74,900

Occupancy floor 50%

Sensitivity live

Price	-10% $780	-5% $759	+0% $738	+5% $717	+10% $695
Rent	-10% $608	-5% $673	+0% $738	+5% $802	+10% $867
Rate	-1.0pp $775	-0.5pp $757	base $738	+0.5pp $718	+1.0pp $699

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   status $74,900 Pending 7 DOM
2. 2026-06-18
   days on market $74,900 Active 7 DOM
3. 2026-06-17
   days on market $74,900 Active 6 DOM
4. 2026-06-16
   days on market $74,900 Active 5 DOM
5. 2026-06-15
   remarks 274-char remark
6. 2026-06-15
   days on market $74,900 Active 4 DOM
7. 2026-06-13
   days on market $74,900 Active 2 DOM
8. 2026-06-13
   remarks 228-char remark
9. 2026-06-13
   listed $74,900 Active 1 DOM

ⓘ 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: $1,574 · $131/mo
• Projected year-2 tax: $1,574 · $131/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $19,639
• − Mortgage interest: −$4,196
• − Property taxes: −$1,574
• − Insurance: −$374
• − Repairs & maintenance: −$1,571
• − Management: −$1,571
• − Depreciation: −$2,179
• Taxable income: $8,174
• Est. tax owed @ 24.0%: −$1,962
• After-tax cash flow: $6,891/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: Frederick County Public Schools
• NCES district ID: 2400330
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 43% ▼ -15.00%
• Median HH income: $84,020
• Composite: 33.54/100
• National rank: #5429
• State rank: #4 of 24 in MD

Livability — Emmitsburg

• Score: 74/100
• State rank: #114
• US rank: #4757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Emmitsburg, MD
• Population (ZIP): 6,079

Population outlook (Frederick County) Hauer SSP2

• Today (2025): 269,438 people
• By 2030: 280,160 · +4.0%
• By 2040: 298,408 · +10.8%
• By 2050: 311,062 · +15.4%
• By 2075: 342,819 · +27.2%
• By 2100: 351,361 · +30.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 9% Two or more races 9% Black 9%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 87% English-only · Spanish 8% Other Indo-European 1%

Political lean MEDSL · Frederick

• 2024 margin: Lean D (+8.8) · D 53.2% · R 44.4% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: -1.0pp · 2024: 8.8pp
• All cycles: 2024: D+8.8 2020: D+9.6 2016: R+4.0 2012: R+3.9 2008: R+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.22%
• Current HPI: 251.1905
• 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

+20.8% since first listed

5 events — show timeline

• 2026-06-11 Listed $74,900 BRIGHT MLS
• 2014-11-25 Sold (Public Records) $75,000 Public Records
• 2001-03-27 Listed $62,000 MRIS
• 2001-03-27 Sold (MLS) $62,000 MRIS
• 2001-03-27 Delisted — MRIS

Property tax history

+1.6%/yr

Latest (2025): $1,574 · +8.4% YoY. Source: county tax records.