111 Beach Harbor F · Grasonville, MD 21638

$70,000

2 bd · 1.0 ba · 950 sqft · Condo · 225 Days on market

Built 1985 $350/mo HOA · 19% of rent ↓ 33% since listing

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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 +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

HUGE PRICE DROP! Now is your time to buy that sweet summer spot! Welcome to your waterfront paradise in the highly sought-after Beach Harbor Camper Cooperative Inc. of Grasonville, MD! This Town and Country Park model ranch-style home is the perfect blend of comfort, convenience, and offers some inspiring views, making it the ultimate 3-season go to for the water and beach lovers! This incredible home boasts 1.5 bedrooms and one bathroom, perfect for weekend or monthly summer getaways. New vinyl flooring and fresh paint. Beautiful water views of the Jackson Creek and the majestic Chester River. Shed provides ample storage. Step outside onto the deck and enjoy your morning coffee or entertai

Key facts

• Fresh paint
• Hot tub
• Clubhouse

Tags

• NEW VINYL FLOORING
• FRESH PAINT
• AMPLE STORAGE
• COMMUNITY POOL
• HOT TUB
• CLUBHOUSE

Property features AI

Finance

• Other: Location: Outside city limits; Directions: Exit 43B Chester River Beach Rd, turn left. Left on Saddler Rd. Right on Beach Harbor Rd/Waimea Beach Ct.
• HOA & community: Annual coop fee of $4,200; HOA covers health club, security gate, management, common area maintenance, pier/dock maintenance, recreation facility, road maintenance, sewer, taxes, and water; Community amenities include basketball courts, beach, club house, exercise room, fitness center, hot tub, laundry facilities, water/lake privileges, playground, tennis courts, shuffleboard, boat slip, picnic area, pier/dock, outdoor pool, community center, boat ramp, and recreational center

Exterior

• Parking: 2 off-street parking spaces; Parking surface: crushed stone
• Utilities: Public water; Public sewer (also listed as public septic); Electric heating and hot water
• Home design: Manufactured home (park model); Model: Park Model; Make: Town and Country; Ownership: Cooperative; Property condition: Very good; Property manager present
• Construction: Combination construction materials; Other structures above grade; Pets allowed on a case-by-case basis
• Exterior features: Has water view; Access to navigable water; Water access to a creek; Community pool (fenced)

Interior

• Kitchen: Microwave; Electric oven/range; Stove; Refrigerator; Water heater
• Bedrooms: 2 bedrooms on main level
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating (electric); Window air conditioning units (electric)
• Interior features: Combination dining and living area; Dining area; Kitchen island; Kitchen table space; Furnished
• Laundry & utility: No separate basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $522 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.4% vs local median 1.6% in Grasonville — 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 (#116 in MD, #4,789 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: amenities F, commute F, cost of living F.
• Queen Anne'S County Public Schools (rural): math 22% / reading 39% proficiency, ranked #7 of 24 in MD (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 52 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 320 units permitted in Queen Anne's County in 2024 (56 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 225 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 72% 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 $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 225 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.57% ✓
• Cap rate: 16.38%
• Cash-on-cash: 36.02%
• DSCR: 2.60
• GRM: 3.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 27.2%
• Equity multiple: 2.13×
• Total profit: $22,173
• Equity at exit: $10,437

10-year hold

• IRR: 34.8%
• Equity multiple: 4.23×
• Total profit: $63,251
• Equity at exit: $6,052

Cash invested: $19,600 (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 21638

• Home prices YoY: -4.7%
• Active inventory: 52
• Price-to-rent: 3.2×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$88 /mo · $1,050/yr
• Insurance: −$29
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$350
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $522

Break-even live

Break-even rent $1,140

Max offer price $70,000

Occupancy floor 66%

Sensitivity live

Price	-10% $570	-5% $546	+0% $522	+5% $498	+10% $473
Rent	-10% $380	-5% $451	+0% $522	+5% $593	+10% $664
Rate	-1.0pp $557	-0.5pp $540	base $522	+0.5pp $504	+1.0pp $485

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
107 Winchester Ave Unit 107 Grasonville, MD	1.0	1.0	560	$1,800	$3.21	10d	1	0.81mi
410 Melvin Ave Grasonville, MD	3.0	1.0	840	$1,800	$2.14	24d	1	0.96mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $70,000 Active 225 DOM
2. 2026-06-17
   days on market $70,000 Active 224 DOM
3. 2026-06-16
   days on market $70,000 Active 223 DOM
4. 2026-06-15
   days on market $70,000 Active 222 DOM
5. 2026-06-13
   days on market $70,000 Active 220 DOM
6. 2026-06-09
   days on market $70,000 Active 216 DOM
7. 2026-06-08
   days on market $70,000 Active 215 DOM
8. 2026-06-07
   days on market $70,000 Active 214 DOM
9. 2026-06-04
   days on market $70,000 Active 211 DOM
10. 2026-06-03
    days on market $70,000 Active 210 DOM
11. 2026-06-02
    days on market $70,000 Active 209 DOM
12. 2026-06-01
    days on market $70,000 Active 208 DOM
13. 2026-05-31
    days on market $70,000 Active 207 DOM
14. 2026-01-06
    price $70,000
15. 2025-11-05
    listed $89,000 Active
16. 2025-07-03
    historical
17. 2025-05-15
    price $95,000
18. 2025-01-04
    listed $105,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 97% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 72% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$3,921
• − Property taxes: −$1,050
• − Insurance: −$1,148
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − HOA: −$4,200
• − Depreciation: −$2,036
• Taxable income: $5,789
• Est. tax owed @ 24.0%: −$1,389
• After-tax cash flow: $4,872/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: Queen Anne'S County Public Schools
• NCES district ID: 2400540
• Math proficiency: 22% ▼ -30.00%
• Reading proficiency: 39% ▼ -22.00%
• Median HH income: $84,577
• Composite: 29.86/100
• National rank: #6406
• State rank: #7 of 24 in MD

Livability — Grasonville

• Score: 74/100
• State rank: #116
• US rank: #4789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grasonville, MD
• Population (ZIP): 5,068

Population outlook (Queen Anne's County) Hauer SSP2

• Today (2025): 51,149 people
• By 2030: 51,979 · +1.6%
• By 2040: 52,728 · +3.1%
• By 2050: 51,828 · +1.3%
• By 2075: 50,169 · -1.9%
• By 2100: 44,442 · -13.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 10% Hispanic / Latino 5% Black 5%
• Common ancestry: Slovak 4% Italian 3% Romanian 3%
• Foreign-born: 4% · Canada, South Korea, Dominican Republic
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1%

Political lean MEDSL · Queen Anne's

• 2024 margin: Strong R (+27.8) · D 35.1% · R 62.9% · Other 2.1%
• 2008→2024 swing: -0.7pp no change · 2008: -27.1pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+26.5 2016: R+36.1 2012: R+30.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.55%
• Current HPI: 256.8252
• 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

-33.3% since first listed

5 events — show timeline

• 2026-01-06 Price Changed $70,000 BRIGHT MLS
• 2025-11-05 Listed $89,000 BRIGHT MLS
• 2025-07-03 Listing Removed — BRIGHT MLS
• 2025-05-15 Price Changed $95,000 BRIGHT MLS
• 2025-01-04 Listed $105,000 BRIGHT MLS