12346 Old Bridge Rd Lot 152 · West Ocean City, MD 21842

$159,900

2 bd · 1.0 ba · 655 sqft · SingleFamily · 45 Days on market

Built 2022 Good condition $244/sqft · 25% below area Est $213k · 25% under

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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 +20.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Schools +4.9/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the ideal year-round retreat in this vibrant 50+ community located in West Ocean City. Just minutes from the natural splendor of Assateague Island State Park and the bustling excitement of Ocean City Boardwalk and Inlet, this residence offers both serenity and convenience. Step into a welcoming open living area complemented by a kitchen featuring a breakfast bar, perfect for relaxed mornings or casual gatherings. The modern kitchen boasts ample cabinets and a tasteful design aesthetic that extends throughout the home, ensuring both functionality and style. For added convenience, enjoy the efficiency of double-stacked, full-size washer/dryer units. Outside, the property features parking for two cars, a front deck with a paver path from the car, and a beautifully landscaped flat, grassy yard, providing a peaceful outdoor sanctuary. Whether you're drawn to the nearby Route 50 Outlet Mall, boardwalk, beaches, and local dining spots or prefer the tranquility of a well-appointed home, this property offers the best of both worlds for comfortable living in West Ocean City.

Key facts

• Fishing pier
• Community pool
• Outdoor kitchen

Tags

• COMMUNITY POOL
• OUTDOOR KITCHEN
• PRIVATE BEACH AREA
• FISHING PIER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.7% in West Ocean City — 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 78/100 on livability (#69 in MD, #2,499 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities C-, commute F, cost of living D-.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ocean City Elementary (math 37% / reading 47%, grade F, #84 of 860 statewide, top 10%, 521 students, 44% FRL); Stephen Decatur Middle (math 24% / reading 43%, grade F, #53 of 225 statewide, top 24%, 697 students, 50% FRL); Stephen Decatur High (math 64% / reading 78%, grade B+, #37 of 222 statewide, top 17%, 1,431 students, 42% FRL).
• Market conditions: 1019 active listings in the ZIP; solid renter incomes; 354 units permitted in Worcester County in 2024 (6 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.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y 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.

Recommended offer $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.04% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.63%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $212,984
• List price: $159,900
• Delta: -24.92%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12346 Old Bridge Rd #218	0.03mi	2/1.0	830 (+27%)	0mo	$60,000	$72	73
404 Saint Louis Ave #12	2.08mi	2/1.0	686 (+5%)	0mo	$265,000	$386	57
210 Worcester St #201	1.91mi	1/1.5 (-1)	649 (-1%)	1mo	$421,000	$649	56
106 Talbot St #206	2.04mi	2/1.5	728 (+11%)	5mo	$225,000	$309	40
106 Talbot St #101	2.04mi	2/1.5	728 (+11%)	6mo	$295,000	$405	40
106 Talbot St #201	2.04mi	2/1.5	728 (+11%)	6mo	$285,000	$391	39
409 Saint Louis Ave #55	2.05mi	1/2.0 (-1)	588 (-10%)	6mo	$239,900	$408	34
301 Atlantic Ave #406	2.21mi	1/1.0 (-1)	528 (-19%)	2mo	$385,000	$729	33
301 Atlantic Ave #504	2.21mi	1/1.0 (-1)	528 (-19%)	2mo	$340,000	$644	33
106 Talbot St #205	2.04mi	2/1.0	786 (+20%)	9mo	$210,000	$267	33
206 8th St #33	2.19mi	1/1.0 (-1)	480 (-27%)	6mo	$263,000	$548	30
301 Atlantic Ave #206	2.21mi	1/1.0 (-1)	528 (-19%)	10mo	$385,000	$729	27

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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-12,505
• Equity at exit: $23,842

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $6,443
• Equity at exit: $13,825

Cash invested: $44,772 (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 →

Active competition Active MLS

• For sale now: 3 active
• Median asking: $155,000 ($252/sqft)
• Median days on market: 37 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: +29.2% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 21842

• Home prices YoY: -5.0%
• Active inventory: 1019
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,665 medium
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$350
• Net cashflow: $210

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 82%

Sensitivity live

Price	-10% $321	-5% $265	+0% $210	+5% $155	+10% $100
Rent	-10% $79	-5% $144	+0% $210	+5% $276	+10% $342
Rate	-1.0pp $291	-0.5pp $251	base $210	+0.5pp $169	+1.0pp $127

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: $39,975
• Closing costs: $4,797
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Property is in a federal flood zoneIncome/expense note: annual ground rent
• Financial info: Land lease structure (land lease amount listed separately)
• HOA & community: Senior community (50+)Ground rent $795 monthly (land lease)Land lease years remaining: 1

Exterior

• Parking: Private gravel drivewayDriveway parking for 2 vehicles (2 total parking spaces)
• Utilities: Public waterPublic sewer (and public septic listed)Electric heating, cooling, and hot water
• Home design: Manufactured homeModular/Manufactured construction with vinyl sidingBuilt by Fleetwood HomesLocated in a senior community (age 50+)
• Construction: Manufactured structureAbove-grade construction
• Exterior features: Community in-ground fenced poolGround rent exists (paid annually)

Interior

• Kitchen: DishwasherMicrowaveElectric range/oven
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Heat pump heatingCentral air conditioning (electric)
• Interior features: Ceiling fansCombination kitchen and living areaEntry-level bedroomNo basement
• Laundry & utility: Stacked washer/dryer in unitWasher and dryer in unitElectric water heater

Listing history 50 events

1. 2026-11-08
   days on market $159,900 Active 45 DOM
2. 2026-11-07
   days on market $159,900 Active 44 DOM
3. 2026-11-06
   days on market $159,900 Active 43 DOM
4. 2026-11-05
   days on market $159,900 Active 42 DOM
5. 2026-11-04
   days on market $159,900 Active 41 DOM
6. 2026-11-02
   days on market $159,900 Active 39 DOM
7. 2026-11-01
   days on market $159,900 Active 38 DOM
8. 2026-10-31
   days on market $159,900 Active 37 DOM
9. 2026-10-30
   days on market $159,900 Active 36 DOM
10. 2026-10-29
    days on market $159,900 Active 35 DOM
11. 2026-10-28
    days on market $159,900 Active 34 DOM
12. 2026-10-27
    days on market $159,900 Active 33 DOM
13. 2026-10-26
    days on market $159,900 Active 32 DOM
14. 2026-10-25
    days on market $159,900 Active 31 DOM
15. 2026-10-24
    days on market $159,900 Active 30 DOM
16. 2026-10-23
    pricedays on market $159,900 Active 29 DOM
17. 2026-10-22
    days on market $167,500 Active 28 DOM
18. 2026-10-21
    days on market $167,500 Active 27 DOM
19. 2026-10-20
    days on market $167,500 Active 26 DOM
20. 2026-10-19
    days on market $167,500 Active 25 DOM
21. 2026-10-18
    days on market $167,500 Active 24 DOM
22. 2026-10-17
    days on market $167,500 Active 23 DOM
23. 2026-10-16
    days on market $167,500 Active 22 DOM
24. 2026-10-15
    days on market $167,500 Active 21 DOM
25. 2026-10-14
    days on market $167,500 Active 20 DOM
26. 2026-10-13
    days on market $167,500 Active 19 DOM
27. 2026-10-12
    days on market $167,500 Active 18 DOM
28. 2026-10-11
    days on market $167,500 Active 17 DOM
29. 2026-10-10
    days on market $167,500 Active 16 DOM
30. 2026-10-09
    days on market $167,500 Active 15 DOM
31. 2026-10-08
    days on market $167,500 Active 14 DOM
32. 2026-10-07
    days on market $167,500 Active 13 DOM
33. 2026-10-06
    days on market $167,500 Active 12 DOM
34. 2026-10-05
    days on market $167,500 Active 11 DOM
35. 2026-10-04
    days on market $167,500 Active 10 DOM
36. 2026-10-03
    days on market $167,500 Active 9 DOM
37. 2026-10-02
    days on market $167,500 Active 8 DOM
38. 2026-10-01
    days on market $167,500 Active 7 DOM
39. 2026-09-30
    days on market $167,500 Active 6 DOM
40. 2026-09-29
    days on market $167,500 Active 5 DOM
41. 2026-09-28
    days on market $167,500 Active 4 DOM
42. 2026-09-27
    days on market $167,500 Active 3 DOM
43. 2026-09-26
    days on market $167,500 Active 2 DOM
44. 2026-09-25
    remarks 699-char remark
45. 2026-09-25
    pricedays on marketlisting id $167,500 Active 1 DOM
46. 2026-08-20
    days on market $170,000 Active 279 DOM
47. 2026-08-19
    days on market $170,000 Active 278 DOM
48. 2026-08-18
    days on market $170,000 Active 277 DOM
49. 2026-08-17
    days on market $170,000 Active 276 DOM
50. 2026-08-16
    days on market $170,000 Active 275 DOM

ⓘ 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: $19,977
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$1,598
• − Management: −$1,598
• − Depreciation: −$4,652
• Taxable loss: −$26
• Est. tax savings @ 24.0%: +$6
• After-tax cash flow: $2,527/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 · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $3,275–$9,825 screening

This 2-bedroom, 1-bath manufactured home in a vibrant 50+ community is in good condition with minimal repairs needed. It offers a modern kitchen, a single bathroom, and a well-maintained exterior. The property is located just minutes from the Ocean City Boardwalk and Assateague Island State Park, making it an ideal year-round retreat or weekend getaway.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and property value ↑
• Resale Replace gutters — Improves water drainage and reduces maintenance costs ↑
• Both Upgrade kitchen appliances — Modernizes kitchen and attracts more buyers ↑
• Both Install smart home features — Enhances comfort and energy efficiency ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 49/100

Zoned Schools

Elementary Ocean City Elementary F MD #84/860 Nat'l #17,861/41,679 Middle Stephen Decatur Middle F MD #53/225 Nat'l #7,937/14,009 High Stephen Decatur High B+ MD #37/222 Nat'l #2,035/17,239

Schools (NCES district)

• District: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

B Composite livability gradescore 78/100

Livability — West Ocean City

• Score: 78/100
• State rank: #69
• US rank: #2499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Ocean City, MD
• County: Worcester County · 51,363 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 11,226
• Household income: $79,876
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 12% of renters

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Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 3%
• Languages at home: 87% English-only · Spanish 7% Russian/Polish/Slavic 3% Other Indo-European 2%

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Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.65%
• Current HPI: 482.18
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

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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

Property features AI

Finance

• Other: Property is in a federal flood zoneIncome/expense note: annual ground rent
• Financial info: Land lease structure (land lease amount listed separately)
• HOA & community: Senior community (50+)Ground rent $795 monthly (land lease)Land lease years remaining: 1

Exterior

• Parking: Private gravel drivewayDriveway parking for 2 vehicles (2 total parking spaces)
• Utilities: Public waterPublic sewer (and public septic listed)Electric heating, cooling, and hot water
• Home design: Manufactured homeModular/Manufactured construction with vinyl sidingBuilt by Fleetwood HomesLocated in a senior community (age 50+)
• Construction: Manufactured structureAbove-grade construction
• Exterior features: Community in-ground fenced poolGround rent exists (paid annually)

Interior

• Kitchen: DishwasherMicrowaveElectric range/oven
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Heat pump heatingCentral air conditioning (electric)
• Interior features: Ceiling fansCombination kitchen and living areaEntry-level bedroomNo basement
• Laundry & utility: Stacked washer/dryer in unitWasher and dryer in unitElectric water heater

Price history

+10.4% since first listed

14 events — show timeline

• 2026-10-23 Price Changed $159,900 BRIGHT MLS
• 2026-09-24 Listed $167,500 BRIGHT MLS
• 2026-08-21 Listing Removed — BRIGHT MLS
• 2026-06-26 Price Changed $170,000 BRIGHT MLS
• 2026-06-02 Price Changed $186,500 BRIGHT MLS
• 2025-12-01 Price Changed $193,750 BRIGHT MLS
• 2025-11-14 Listed $198,750 BRIGHT MLS
• 2024-08-23 Sold (MLS) $155,000 BRIGHT MLS
• 2024-07-20 Pending — BRIGHT MLS
• 2024-06-25 Listed $162,000 BRIGHT MLS
• 2024-06-21 Coming Soon $162,000 BRIGHT MLS
• 2022-01-17 Sold (MLS) $144,900 BRIGHT MLS
• 2022-01-14 Pending — BRIGHT MLS
• 2022-01-14 Listed $144,900 BRIGHT MLS