13704 Main St

Queen Anne, MD 21657

$139,000B

4 bd · 1.0 ba · 1,548 sqft · Built 1915 · SingleFamily · Pending · 14 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,962/mo
• Mortgage (P&I): −$729
• Tax + insurance: −$224
• HOA: −$0
• Vac / Maint / Mgmt: −$412
• Net cashflow: $597/mo
• Annual: $7,167/yr
• Cap rate: 11.45%
• Cash-on-cash: 18.41%
• DSCR: 1.82
• 1% rule: 1.41%
• Cash to close: $38,920

Investor read

• This is a 4-bed/1.0-bath single-family listed at $139k.
• At list price, monthly cash flow is $597 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• In year one you build about $5k of equity ($961 loan paydown + $4k appreciation (2.9% local appreciation)).
• Location reads 65/100 on livability (#265 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, amenities F, commute F.
• Queen Anne'S County Public Schools (rural): math 22% / reading 39% proficiency, ranked #7 of 24 in MD (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 4 active listings in the ZIP; 320 units permitted in Queen Anne's County in 2024 (56 in 5+ unit buildings).
• At projected returns (2.9% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 7, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 43% 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.
• Cap rate 11.4% vs local median 1.5% in Queen Anne — 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

• Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.