28 Malvern Dr · North East, MD 21921

$97,500

3 bd · 2.0 ba · 1,152 sqft · SingleFamily · 10 Days on market

Built 2021 Fair condition

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Rent growth +3.1/5.0
• Schools +2.2/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Affordable living in desirable Town & Country Mobile Home Park! This spacious 16x72 single wide offers 3 bedrooms and 2 full baths with a comfortable layout. Enjoy one of the lowest lot rents in the area, making this a great opportunity for affordable homeownership. Conveniently located near shopping, dining, and major routes for commuting. The seller purchased this 2021 model new in May of 2023. Additional cabinets (hickory wood) were custom installed after purchase. Don’t miss your chance to make this property your own!

Key facts

• Built 2021
• Listed 10 days

Property features AI

Finance

• Other: Pets allowed with restrictions (breed, number, and size/weight limits)
• Financial info: Ownership interest: Ground rent
• HOA & community: Ground rent exists ($550 monthly)

Exterior

• Parking: On-street parking; Other parking options
• Utilities: Public water; Public sewer; Electric service; Propane (leased) for heating; Electric hot water
• Home design: Manufactured home (single wide, approximately 16 ft by 72 ft); Above-grade living space; Vinyl siding; Double-pane windows
• Construction: Vinyl siding construction; Foundation: other; Above grade structure; Manufactured home built by Eagle River Homes
• Exterior features: Located in the Town & Country park; Ground rent applicable (monthly payment)

Interior

• Kitchen: Refrigerator; Electric range/oven; Range hood; Dishwasher; Eat-in kitchen with table space
• Bedrooms: Three bedrooms on the main level (including a master bedroom)
• Flooring: Carpet
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Propane (leased) heating fuel; Central air conditioning; Ceiling fan(s); Electric hot water
• Interior features: Walk-in shower and tub/shower combination; Ceiling fans; Combination kitchen/dining area; Eat-in kitchen with table space; Master bathroom; Walk-in closet(s); Storm door
• Laundry & utility: Washer and dryer in unit on the main floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $98k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $919 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $98k).
• Cap rate 17.6% vs local median 3.2% in North East — 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 70/100 on livability (#164 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities D+, crime D-, commute F.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Leeds Elementary (math 8% / reading 12%, grade F, #614 of 860 statewide, top 75%, 334 students, 56% FRL); North East Middle (math 8% / reading 29%, grade F, #159 of 225 statewide, top 73%, 791 students, 54% FRL); North East High (math 32% / reading 78%, grade C, #88 of 222 statewide, top 40%, 1,069 students, 49% FRL) — zoned schools average 53% FRL vs 37% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 206 active listings in the ZIP; solid renter incomes; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $674 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 2.3% rent growth), your $27k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $97,500

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. Crime grade is D 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?
5. 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.
6. 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.
7. 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: 2.07% ✓
• Cap rate: 17.60%
• Cash-on-cash: 40.39%
• DSCR: 2.80
• GRM: 4.0

CMA / ARV

• ARV (on-the-fly): $249,984
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
235 Woods Way	0.34mi	3/2.0	1,000 (-13%)	22mo	$105,000	$105	44
656 Mechanics Valley Rd	0.72mi	3/1.5	1,196 (+4%)	21mo	$260,000	$217	41

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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: 36.0%
• Equity multiple: 2.52×
• Total profit: $41,384
• Equity at exit: $14,538

10-year hold

• IRR: 42.4%
• Equity multiple: 4.88×
• Total profit: $105,973
• Equity at exit: $8,430

Cash invested: $27,300 (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 21921

• Rents YoY: 2.3%
• Active inventory: 206
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,016 medium
• Mortgage (P&I): −$511
• Tax est. 1.5%: −$122 /mo · $1,462/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $919

Break-even live

Break-even rent $853

Max offer price $97,500

Occupancy floor 49%

Sensitivity live

Price	-10% $986	-5% $953	+0% $919	+5% $885	+10% $851
Rent	-10% $760	-5% $839	+0% $919	+5% $999	+10% $1,078
Rate	-1.0pp $968	-0.5pp $944	base $919	+0.5pp $894	+1.0pp $868

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: $24,375
• Closing costs: $2,925
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-21
   days on market $97,500 Active 10 DOM
2. 2026-06-18
   days on market $97,500 Active 7 DOM
3. 2026-06-17
   days on market $97,500 Active 6 DOM
4. 2026-06-16
   days on market $97,500 Active 5 DOM
5. 2026-06-15
   days on market $97,500 Active 4 DOM
6. 2026-06-13
   remarks 530-char remark
7. 2026-06-13
   statusdays on market $97,500 Active 2 DOM
8. 2026-06-09
   days on market $97,500 Coming Soon 18 DOM
9. 2026-06-08
   days on market $97,500 Coming Soon 17 DOM
10. 2026-06-07
    days on market $97,500 Coming Soon 16 DOM
11. 2026-06-04
    days on market $97,500 Coming Soon 13 DOM
12. 2026-06-03
    days on market $97,500 Coming Soon 12 DOM
13. 2026-06-02
    days on market $97,500 Coming Soon 11 DOM
14. 2026-06-01
    days on market $97,500 Coming Soon 10 DOM
15. 2026-05-31
    days on market $97,500 Coming Soon 9 DOM
16. 2026-05-22
    historical $97,500

ⓘ 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: $24,192
• − Mortgage interest: −$5,462
• − Property taxes: −$1,462
• − Insurance: −$488
• − Repairs & maintenance: −$1,935
• − Management: −$1,935
• − Depreciation: −$2,836
• Taxable income: $10,074
• Est. tax owed @ 24.0%: −$2,418
• After-tax cash flow: $8,609/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 · 3 photos

Fair 45/100 Moderate rehab

This single-wide mobile home in Town & Country Mobile Home Park requires moderate repairs and maintenance, particularly in landscaping and exterior painting, to improve its resale and rental value.

Repairs flagged

• Minor Landscaping — Overgrown vegetation needs trimming
• Minor Exterior siding — Light wear on siding

Value-add opportunities

• Both Landscaping and exterior painting — Enhances curb appeal and resale value
• Both Interior painting — Fresh paint can make the home more appealing
• Rental HVAC maintenance — Ensures comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Landscaping · Overgrown vegetation needs trimming	Minor	$500–3,000
Exterior siding · Light wear on siding	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Landscaping and exterior painting — Enhances curb appeal and resale value ↑
• Both Interior painting — Fresh paint can make the home more appealing ↑
• Rental HVAC maintenance — Ensures 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: Cecil County Public Schools
• NCES district ID: 2400240
• Math proficiency: 15% ▼ -21.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $66,544
• Composite: 21.51/100
• National rank: #8322
• State rank: #15 of 24 in MD

Livability — North East

• Score: 70/100
• State rank: #164
• US rank: #7366

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Cecil County · 65,041 people
• City population: 19,514
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 45,527
• Household income: $85,775
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 1438.0

Population outlook (Cecil County) Hauer SSP2

• Today (2025): 105,877 people
• By 2030: 106,905 · +1.0%
• By 2040: 107,156 · +1.2%
• By 2050: 104,170 · -1.6%
• By 2075: 95,771 · -9.5%
• By 2100: 82,381 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cecil

• 2024 margin: Solid R (+30.9) · D 33.5% · R 64.4% · Other 2.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -14.6pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.6 2016: R+35.3 2012: R+20.4 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.67%
• Current HPI: 253.7641
• Rent YoY: ▲ 2.32%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

1 event — show timeline

• 2026-05-22 Coming Soon $97,500 BRIGHT MLS