30100 Niblett Ct · Delmar, MD 21875

$165,000

2 bd · 2.0 ba · 980 sqft · SingleFamily · 155 Days on market

Built 2026 Good condition $168/sqft · 18% below area Est $201k · 18% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +13.6/30.0
• DSCR +4.1/10.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Parkway Mobile Home Estates, a brand-new nine-unit manufactured home community in Delmar, MD designed for residents 50+. Nestled in a peaceful wooded setting, this community offers the perfect blend of privacy and convenience, just minutes from local shops, dining, Salisbury, and a short drive to the beaches. Each home features 2 bedrooms, 2 baths, modern finishes, open layouts, and covered front porches ideal for relaxing or entertaining. Buyers can also choose from add-on options such as carports, storage sheds, upgraded appliance packages, enhanced landscaping, or screened porches to personalize their new home. Pre-construction pricing is available now—reserve early to secure your spot in this limited nine-unit community. Photos are for illustrative purposes only and should be used as a guide for what is possible.

Key facts

• 2 parking spots
• Built 2026
• Listed 154 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $9 ($110/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (11.8% below list).
• Recommended offer: $145k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 5.1% in Delmar — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 67/100 on livability (#222 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: schools D+, amenities F, commute F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 46 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 278 units permitted in Wicomico County in 2024 (44 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 $5k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 155 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Recommended offer $145,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 155 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.24%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $201,438
• List price: $165,000
• Delta: -18.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9333 Colonial Mill Dr	0.59mi	3/2.0 (+1)	960 (-2%)	1mo	$109,900	$114	63
9241 Clare Cir	0.56mi	3/2.0 (+1)	896 (-9%)	2mo	$51,500	$57	53
8798 Bi State Blvd	0.62mi	3/1.0 (+1)	960 (-2%)	8mo	$235,000	$245	52
8811 Archid Dr	0.51mi	3/2.0 (+1)	933 (-5%)	17mo	$105,000	$113	49
9219 Green Isle Cir	0.64mi	3/2.0 (+1)	1,000 (+2%)	18mo	$55,000	$55	46
9328 Colonial Mill Dr	0.64mi	3/2.0 (+1)	910 (-7%)	20mo	$69,900	$77	37

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: -15.9%
• Equity multiple: 0.43×
• Total profit: $-26,131
• Equity at exit: $24,602

10-year hold

• IRR: -7.5%
• Equity multiple: 0.53×
• Total profit: $-21,913
• Equity at exit: $14,266

Cash invested: $46,200 (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 21875

• Home prices YoY: -12.7%
• Active inventory: 46
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $9

Break-even live

Break-even rent $1,443

Max offer price $165,000

Occupancy floor 94%

Sensitivity live

Price	-10% $123	-5% $66	+0% $9	+5% $-48	+10% $-105
Rent	-10% $-106	-5% $-48	+0% $9	+5% $67	+10% $124
Rate	-1.0pp $92	-0.5pp $51	base $9	+0.5pp $-34	+1.0pp $-77

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8650 Barbara Ann Way Delmar, MD	2.0–3.0	2.0–2.5	1547	$1,455	$0.94	44d	12	0.88mi

Listing history 17 events

1. 2026-06-18
   days on market $165,000 Active 155 DOM
2. 2026-06-17
   days on market $165,000 Active 154 DOM
3. 2026-06-16
   days on market $165,000 Active 153 DOM
4. 2026-06-15
   days on market $165,000 Active 152 DOM
5. 2026-06-14
   days on market $165,000 Active 150 DOM
6. 2026-06-13
   days on market $165,000 Active 149 DOM
7. 2026-06-10
   days on market $165,000 Active 147 DOM
8. 2026-06-09
   days on market $165,000 Active 146 DOM
9. 2026-06-08
   days on market $165,000 Active 145 DOM
10. 2026-06-07
    days on market $165,000 Active 144 DOM
11. 2026-06-03
    days on market $165,000 Active 140 DOM
12. 2026-06-02
    days on market $165,000 Active 139 DOM
13. 2026-06-01
    days on market $165,000 Active 138 DOM
14. 2026-05-31
    days on market $165,000 Active 137 DOM
15. 2026-05-30
    days on market $165,000 Active 136 DOM
16. 2026-01-15
    listed $165,000 Active 845-char remark

    Show marketing remark (845 chars)

    Welcome to Parkway Mobile Home Estates, a brand-new nine-unit manufactured home community in Delmar, MD designed for residents 50+. Nestled in a peaceful wooded setting, this community offers the perfect blend of privacy and convenience, just minutes from local shops, dining, Salisbury, and a short drive to the beaches. Each home features 2 bedrooms, 2 baths, modern finishes, open layouts, and covered front porches ideal for relaxing or entertaining. Buyers can also choose from add-on options such as carports, storage sheds, upgraded appliance packages, enhanced landscaping, or screened porches to personalize their new home. Pre-construction pricing is available now—reserve early to secure your spot in this limited nine-unit community. Photos are for illustrative purposes only and should be used as a guide for what is possible.

17. 2025-12-09
    historical $165,000 845-char remark

    Show marketing remark (845 chars)

    Welcome to Parkway Mobile Home Estates, a brand-new nine-unit manufactured home community in Delmar, MD designed for residents 50+. Nestled in a peaceful wooded setting, this community offers the perfect blend of privacy and convenience, just minutes from local shops, dining, Salisbury, and a short drive to the beaches. Each home features 2 bedrooms, 2 baths, modern finishes, open layouts, and covered front porches ideal for relaxing or entertaining. Buyers can also choose from add-on options such as carports, storage sheds, upgraded appliance packages, enhanced landscaping, or screened porches to personalize their new home. Pre-construction pricing is available now—reserve early to secure your spot in this limited nine-unit community. Photos are for illustrative purposes only and should be used as a guide for what is possible.

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

Taxation est. · year 1

• Rental income: $17,460
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$4,800
• Taxable loss: −$2,676
• Est. tax savings @ 24.0%: +$642
• After-tax cash flow: $752/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This home is in good condition with a good exterior and interior. It is move-in ready and would benefit from some cosmetic updates to enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters.
• Both Upgrading the front porch railings — Updated railings can improve safety and add a modern touch to the home's exterior.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and attract more potential buyers or renters. ↑
• Both Upgrading the front porch railings — Updated railings can improve safety and add a modern touch to the home's exterior. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Delmar

• Score: 67/100
• State rank: #222
• US rank: #11130

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 7,455

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 19% Hispanic / Latino 9% Asian 6% Two or more races 4%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 9% · Canada, South Korea
• Languages at home: 84% English-only · Spanish 9% Korean 3% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.12%
• Current HPI: 247.5758
• 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

+0.0% since first listed

2 events — show timeline

• 2026-01-15 Listed $165,000 BRIGHT MLS
• 2025-12-09 Coming Soon $165,000 BRIGHT MLS