12346 Old Brg #152 · West Ocean City, MD 21842

$186,500

2 bd · 1.0 ba · 616 sqft · SingleFamily · 216 Days on market

Built 2023 Good condition $303/sqft · 43% below area Est $329k · 43% 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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Live the Salt Life – Just Minutes from Ocean City! Welcome to effortless coastal living in the highly sought-after Salt Life Community, where you're just 2.4 miles from the Ocean City boardwalk, world-class amusements, and local dining hotspots. Whether you're looking for a year-round residence or a weekend escape, this 2-bedroom, 1-bath manufactured home blends modern comfort with unbeatable convenience. The real highlight is the resort-style amenities. Spend your days lounging by the community swimming pool, strolling the walking boardwalk, or relaxing in the pavilion—all just steps from your front door. Whether you're drawn by the beach, convenience, or the lifestyle, this home delivers it all. Discover what it means to live the Salt Life—schedule your private tour today.

Key facts

• Walking boardwalk
• 2 parking spots
• Community pool

Tags

• COMMUNITY SWIMMING POOL
• WALKING BOARDWALK

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $186k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $126 ($2k/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 $179k (4.0% below list).
• Recommended offer: $164k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 2.6% 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.
• Market conditions: 673 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 $6k 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 216 days — a 12% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $155k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $164,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 216 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. 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: 0.96% ✗
• Cap rate: 7.10%
• Cash-on-cash: 2.89%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (median comp): $329,375
• List price: $186,500
• Delta: -43.38%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.7%
• Equity multiple: 0.58×
• Total profit: $-22,176
• Equity at exit: $27,808

10-year hold

• IRR: -2.5%
• Equity multiple: 0.83×
• Total profit: $-8,876
• Equity at exit: $16,125

Cash invested: $52,220 (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 21842

• Home prices YoY: -5.0%
• Active inventory: 673
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,791 medium
• Mortgage (P&I): −$978
• Tax est. 1.5%: −$233 /mo · $2,798/yr
• Insurance: −$78
• HOA: −$0
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $126

Break-even live

Break-even rent $1,631

Max offer price $186,500

Occupancy floor 88%

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: $46,625
• Closing costs: $5,595
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $186,500 Active 216 DOM
2. 2026-06-17
   days on market $186,500 Active 215 DOM
3. 2026-06-16
   days on market $186,500 Active 214 DOM
4. 2026-06-15
   days on market $186,500 Active 213 DOM
5. 2026-06-14
   days on market $186,500 Active 211 DOM
6. 2026-06-13
   days on market $186,500 Active 210 DOM
7. 2026-06-10
   days on market $186,500 Active 208 DOM
8. 2026-06-09
   days on market $186,500 Active 207 DOM
9. 2026-06-08
   days on market $186,500 Active 206 DOM
10. 2026-06-07
    days on market $186,500 Active 205 DOM
11. 2026-06-02
    pricedays on market $186,500 Active 200 DOM
12. 2026-06-01
    days on market $193,750 Active 199 DOM
13. 2026-05-31
    days on market $193,750 Active 198 DOM
14. 2026-05-30
    days on market $193,750 Active 197 DOM
15. 2025-12-01
    price $193,750 803-char remark

    Show marketing remark (803 chars)

    Live the Salt Life – Just Minutes from Ocean City! Welcome to effortless coastal living in the highly sought-after Salt Life Community, where you're just 2.4 miles from the Ocean City boardwalk, world-class amusements, and local dining hotspots. Whether you're looking for a year-round residence or a weekend escape, this 2-bedroom, 1-bath manufactured home blends modern comfort with unbeatable convenience. The real highlight is the resort-style amenities. Spend your days lounging by the community swimming pool, strolling the walking boardwalk, or relaxing in the pavilion—all just steps from your front door. Whether you're drawn by the beach, convenience, or the lifestyle, this home delivers it all. Discover what it means to live the Salt Life—schedule your private tour today.

16. 2025-11-14
    listed $198,750 Active 803-char remark

    Show marketing remark (803 chars)

    Live the Salt Life – Just Minutes from Ocean City! Welcome to effortless coastal living in the highly sought-after Salt Life Community, where you're just 2.4 miles from the Ocean City boardwalk, world-class amusements, and local dining hotspots. Whether you're looking for a year-round residence or a weekend escape, this 2-bedroom, 1-bath manufactured home blends modern comfort with unbeatable convenience. The real highlight is the resort-style amenities. Spend your days lounging by the community swimming pool, strolling the walking boardwalk, or relaxing in the pavilion—all just steps from your front door. Whether you're drawn by the beach, convenience, or the lifestyle, this home delivers it all. Discover what it means to live the Salt Life—schedule your private tour today.

17. 2024-08-23
    soldstatus $155,000 Closed 1090-char remark

    Show marketing remark (1090 chars)

    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.

18. 2024-07-20
    status Pending 1090-char remark

    Show marketing remark (1090 chars)

    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.

19. 2024-06-25
    listed $162,000 Active 1090-char remark

    Show marketing remark (1090 chars)

    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.

20. 2024-06-21
    historical $162,000 1090-char remark

    Show marketing remark (1090 chars)

    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.

21. 2022-01-17
    soldstatus $144,900 Closed
22. 2022-01-14
    status Pending
23. 2022-01-14
    listed $144,900 Active

ⓘ 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: $21,490
• − Mortgage interest: −$10,447
• − Property taxes: −$2,798
• − Insurance: −$932
• − Repairs & maintenance: −$1,719
• − Management: −$1,719
• − Depreciation: −$5,425
• Taxable loss: −$1,551
• Est. tax savings @ 24.0%: +$372
• After-tax cash flow: $1,883/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

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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ 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: 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

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 · 35,603 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: 322.0

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%

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%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Russian/Polish/Slavic 3% Other Indo-European 2%

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

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

+33.7% since first listed

9 events — show timeline

• 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