4 Mcvey Way

North East, MD 21921

$94,000B-

3 bd · 2.0 ba · 1,158 sqft · Built 2011 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,016/mo
• Mortgage (P&I): −$493
• Tax + insurance: −$157
• HOA: −$0
• Vac / Maint / Mgmt: −$423
• Net cashflow: $943/mo
• Annual: $11,319/yr
• Cap rate: 18.33%
• Cash-on-cash: 43.01%
• DSCR: 2.91
• 1% rule: 2.15%
• Cash to close: $26,320

Investor read

• This is a 3-bed/2.0-bath single-family listed at $94k. Condition is rated fair.
• At list price, monthly cash flow is $943 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $94k).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $650 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#164 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime D-, commute F.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Leeds Elementary (math 8% / reading 12%, grade F, #614 of 860 statewide, top 75%, 334 students, 56% FRL); Cherry Hill Middle (math 10% / reading 34%, grade F, #125 of 225 statewide, top 58%, 401 students, 53% FRL); North East High (math 32% / reading 78%, grade C, #88 of 222 statewide, top 40%, 1,069 students, 49% FRL) — zoned schools average 53% FRL vs 37% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 206 active listings in the ZIP; solid renter incomes; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $26k cash investment doubles in ~3 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 18.3% vs local median 3.2% in North East — 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.

Questions for listing agent

• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• Crime grade is D 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?
• 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.
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Minor: Deck — Weathered wood
• Minor: Deck railings — Worn paint