30101 Niblett Ct

Delmar, MD 21875

$175,000C+

3 bd · 2.0 ba · 980 sqft · Built 2026 · SingleFamily · Active · 141 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,950/mo
• Mortgage (P&I): −$918
• Tax + insurance: −$292
• HOA: −$0
• Vac / Maint / Mgmt: −$410
• Net cashflow: $331/mo
• Annual: $3,973/yr
• Cap rate: 8.56%
• Cash-on-cash: 8.11%
• DSCR: 1.36
• 1% rule: 1.11%
• Cash to close: $49,000

Investor read

• This is a 3-bed/2.0-bath single-family listed at $175k. Condition is rated good.
• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• It's been on market 141 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• 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.
• Location reads 67/100 on livability (#222 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A; Watch: amenities F, commute F, health & safety D-.
• 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.
• Zoned schools: Delmar Elementary (math 2% / reading 12%, grade F, #699 of 860 statewide, top 84%, 858 students, 37% FRL); Wicomico Middle (math 3% / reading 22%, grade F, #200 of 225 statewide, top 89%, 819 students, 68% FRL); Wicomico High (math 30% / reading 45%, grade F, #138 of 222 statewide, top 63%, 1,325 students, 60% FRL) — zoned schools at 55% FRL track the district average.
• Market conditions: 47 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).
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 8.6% vs local median 5.2% in Delmar — 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

• It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• 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?
• 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.