1008 Phillips St · Cambridge, MD 21613

$65,000

3 bd · 1.0 ba · 976 sqft · SingleFamily public records · 684 Days on market

Built 1945 5,600 sqft lot $67/sqft · 47% below area Est $122k · 47% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

Key facts

• 5,600 sq ft lot
• 2 parking spots
• Built 1945

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $501 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.5% vs local median 4.3% in Cambridge — 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 65/100 on livability (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 294 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 684 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $83k (56%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $9k; list at $65k implies a 591% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 684 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 1.84% ✓
• Cap rate: 15.54%
• Cash-on-cash: 33.04%
• DSCR: 2.47
• GRM: 4.5

CMA / ARV

• ARV (median comp): $122,346
• List price: $65,000
• Delta: -46.87%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1114 Maces Ln	0.35mi	3/1.0	1,040 (+7%)	3mo	$106,000	$102	70
709 Governors Ave	0.38mi	3/1.0	960 (-2%)	12mo	$219,900	$229	70
1304 Rainbow Ave	0.26mi	3/1.0	1,064 (+9%)	4mo	$218,000	$205	69
1200 Race St	0.28mi	2/1.0 (-1)	884 (-9%)	1mo	$150,000	$170	65
513 Cedar St	0.43mi	3/1.0	928 (-5%)	8mo	$25,000	$27	64
511 Goldsborough Ave	0.34mi	3/2.0	1,027 (+5%)	9mo	$247,450	$241	64
1303 Colonial Ave	0.23mi	3/2.0	1,120 (+15%)	2mo	$235,000	$210	59
515 Burton Ave	0.22mi	2/1.0 (-1)	868 (-11%)	9mo	$60,000	$69	59
1207 Race St	0.26mi	3/2.0	1,080 (+11%)	11mo	$262,500	$243	57
911 Peachblossom Ave	0.40mi	2/2.0 (-1)	1,018 (+4%)	13mo	$131,000	$129	55
710 Stiles Cir	0.38mi	3/1.0	864 (-12%)	12mo	$147,000	$170	53
623 Cross St	0.47mi	2/1.0 (-1)	864 (-12%)	7mo	$66,780	$77	48

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: 28.2%
• Equity multiple: 2.18×
• Total profit: $21,398
• Equity at exit: $9,692

10-year hold

• IRR: 35.7%
• Equity multiple: 4.29×
• Total profit: $59,789
• Equity at exit: $5,620

Cash invested: $18,200 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 294
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$341
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $501

Break-even live

Break-even rent $561

Max offer price $65,000

Occupancy floor 53%

Sensitivity live

Price	-10% $538	-5% $520	+0% $501	+5% $483	+10% $464
Rent	-10% $407	-5% $454	+0% $501	+5% $548	+10% $596
Rate	-1.0pp $534	-0.5pp $518	base $501	+0.5pp $484	+1.0pp $467

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 Travers St #5 Cambridge, MD	2.0	1.0	1000	$1,195	$1.20	44d	1	1.05mi

Listing history 33 events

1. 2026-06-21
   statusdays on market $65,000 Pending 684 DOM
2. 2026-06-18
   days on market $65,000 Active 683 DOM
3. 2026-06-17
   days on market $65,000 Active 682 DOM
4. 2026-06-16
   days on market $65,000 Active 681 DOM
5. 2026-06-15
   days on market $65,000 Active 680 DOM
6. 2026-06-13
   days on market $65,000 Active 678 DOM
7. 2026-06-12
   days on market $65,000 Active 677 DOM
8. 2026-06-09
   days on market $65,000 Active 674 DOM
9. 2026-06-08
   days on market $65,000 Active 673 DOM
10. 2026-06-07
    days on market $65,000 Active 672 DOM
11. 2026-06-07
    days on market $65,000 Active 671 DOM
12. 2026-06-04
    days on market $65,000 Active 668 DOM
13. 2026-06-02
    days on market $65,000 Active 667 DOM
14. 2026-06-01
    days on market $65,000 Active 666 DOM
15. 2026-05-31
    days on market $65,000 Active 665 DOM
16. 2026-05-31
    days on market $65,000 Active 664 DOM
17. 2026-05-06
    historical Active Under Contract 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

18. 2026-04-22
    price $65,000 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

19. 2026-02-17
    price $99,000 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

20. 2025-11-07
    price $110,000 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

21. 2025-09-19
    price $119,500 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

22. 2025-07-31
    price $125,000 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

23. 2025-06-28
    price $129,000 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

24. 2025-06-28
    status Active 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

25. 2025-05-23
    historical 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

26. 2025-04-28
    price $132,500 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

27. 2025-03-20
    price $138,000 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

28. 2024-12-02
    price $142,500 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

29. 2024-12-02
    status Active 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

30. 2024-08-05
    historical Active Under Contract 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

31. 2024-02-08
    listed $148,000 Active 547-char remark

    Show marketing remark (547 chars)

    Here is a comfortable bungalow suitable for investors and first-time home buyers. Located near southern end of Phillips St. in a quiet neighborhood amidst homes, three churches and open land. Exterior has vinyl and aluminum, replacement windows and metal lifetime roof. Interior has closed in front porch, 3 bedrooms, 1 bath, living room, den (or bedroom) and kitchen/dining area. House is certified as lead paint free by MD Dept. of Environment so investors don't need inspections or rental fee payments. MAJOR PRICE ADJUSTMENT WILL PLEASE BUYERS

32. 1989-09-21
    soldstatus $9,400
33. 1989-05-22
    soldstatus $9,500

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

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $900 · $75/mo
• Projected year-2 tax: $900 · $75/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,340
• − Mortgage interest: −$3,641
• − Property taxes: −$900
• − Insurance: −$325
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$1,891
• Taxable income: $5,289
• Est. tax owed @ 24.0%: −$1,269
• After-tax cash flow: $4,744/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.

Schools (NCES district)

• District: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• 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

+584.2% since first listed

17 events — show timeline

• 2026-05-06 Contingent — BRIGHT MLS
• 2026-04-22 Price Changed $65,000 BRIGHT MLS
• 2026-02-17 Price Changed $99,000 BRIGHT MLS
• 2025-11-07 Price Changed $110,000 BRIGHT MLS
• 2025-09-19 Price Changed $119,500 BRIGHT MLS
• 2025-07-31 Price Changed $125,000 BRIGHT MLS
• 2025-06-28 Price Changed $129,000 BRIGHT MLS
• 2025-06-28 Relisted — BRIGHT MLS
• 2025-05-23 Listing Removed — BRIGHT MLS
• 2025-04-28 Price Changed $132,500 BRIGHT MLS
• 2025-03-20 Price Changed $138,000 BRIGHT MLS
• 2024-12-02 Price Changed $142,500 BRIGHT MLS
• 2024-12-02 Relisted — BRIGHT MLS
• 2024-08-05 Contingent — BRIGHT MLS
• 2024-02-08 Listed $148,000 BRIGHT MLS
• 1989-09-21 Sold (Public Records) $9,400 Public Records
• 1989-05-22 Sold (Public Records) $9,500 Public Records

Property tax history

+4.7%/yr

Latest (2025): $900 · +16.4% YoY. Source: county tax records.