13310 Fitzbound Rd

Mount Vernon, MD 21853

$179,900C+

5 bd · 1.0 ba · 1,358 sqft · Built 1900 · SingleFamily · Pending · 55 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,885/mo
• Mortgage (P&I): −$943
• Tax + insurance: −$151
• HOA: −$0
• Vac / Maint / Mgmt: −$396
• Net cashflow: $395/mo
• Annual: $4,738/yr
• Cap rate: 8.93%
• Cash-on-cash: 9.41%
• DSCR: 1.42
• 1% rule: 1.05%
• Cash to close: $50,372

Investor read

• This is a 5-bed/1.0-bath single-family listed at $180k.
• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• It's been on market 55 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $175k (3.0% below list) — sets the bar for market timing.
• In year one you build about $10k of equity ($1k loan paydown + $9k appreciation (5.0% local appreciation)).
• Location reads 65/100 on livability (#256 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, crime A-; Watch: housing C-, amenities F, commute F.
• Somerset County Public Schools (town): math 12% / reading 23% proficiency, ranked #22 of 24 in MD (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Somerset 6/7 Intermediate School (math 8% / reading 26%, grade F, #170 of 225 statewide, top 77%, 396 students, 73% FRL).
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 58 active listings in the ZIP; 49 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).
• Somerset County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 30y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $75k; list at $180k implies a 140% gain — meaningful room to come down on a strong offer.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $50k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1900 — 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.
• 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.