203 8th St · Pocomoke City, MD 21851

$109,900

3 bd · 1.0 ba · 1,350 sqft · SingleFamily · 1 Days on market

Built 1930 6,739 sqft lot

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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 +3.6/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

CALLING ALL INVESTORS! This property is the one you have been waiting for! This one will not last! This Property is being sold As-Is condition. Buyer is responsible for all certifications. Seller never occupied. Neither the seller or listing agent make any representation as to the accuracy of any information contained herein. Buyer must conduct their own due diligence, verification, research and inspections and are relying solely on the results thereof. Buyer to pay all closing costs and transfer tax.

Key facts

• 6,739 sq ft lot
• Garage
• Built 1930

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $758 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Cap rate 14.6% vs local median 5.6% in Pocomoke City — 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 71/100 on livability (#157 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A-; Watch: employment D+, crime F, amenities F.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 69 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $760 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Worcester County population projected to shrink 4% 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 $31k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,900

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.75% ✓
• Cap rate: 14.57%
• Cash-on-cash: 29.57%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $252,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 Cedar St	0.16mi	3/2.5	1,350 (0%)	6mo	$220,000	$163	82
1403 Linden Dr	0.54mi	3/2.0	1,312 (-3%)	5mo	$175,000	$133	62
1298 Dorchester Ave	0.40mi	3/2.0	1,420 (+5%)	8mo	$283,000	$199	62
1411 Cedar Run	0.60mi	3/2.5	1,331 (-1%)	4mo	$280,000	$210	61
1410 Cedar Run	0.61mi	3/2.0	1,311 (-3%)	3mo	$289,900	$221	60
427 Bank St	0.35mi	2/1.0 (-1)	1,260 (-7%)	10mo	$150,000	$119	59
401 4th St	0.37mi	3/1.5	1,495 (+11%)	8mo	$190,000	$127	57
1296 Dorchester Ave	0.38mi	3/2.0	1,506 (+12%)	8mo	$282,100	$187	52
710 2nd St	0.52mi	3/2.0	1,232 (-9%)	6mo	$220,000	$179	52
1406 Cedar Run	0.58mi	3/2.5	1,475 (+9%)	1mo	$289,900	$197	50
1401 Cedar Run	0.54mi	3/2.5	1,475 (+9%)	5mo	$289,900	$197	49
8 14th St	0.55mi	3/2.0	1,170 (-13%)	5mo	$213,090	$182	44

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: 24.1%
• Equity multiple: 1.99×
• Total profit: $30,511
• Equity at exit: $16,386

10-year hold

• IRR: 31.9%
• Equity multiple: 3.89×
• Total profit: $88,867
• Equity at exit: $9,502

Cash invested: $30,772 (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 21851

• Home prices YoY: -4.0%
• Active inventory: 69
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,921 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $758

Break-even live

Break-even rent $961

Max offer price $109,900

Occupancy floor 56%

Sensitivity live

Price	-10% $834	-5% $796	+0% $758	+5% $720	+10% $682
Rent	-10% $606	-5% $682	+0% $758	+5% $834	+10% $910
Rate	-1.0pp $814	-0.5pp $786	base $758	+0.5pp $730	+1.0pp $701

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 Cedar St Pocomoke City, MD	3.0	2.5	1352	$2,195	$1.62	14d	1	0.17mi
242 Morgans Ct Pocomoke City, MD	3.0	2.5	1304	$1,795	$1.38	14d	1	0.26mi
241 Morgans Ct Pocomoke City, MD	3.0	2.5	1304	$1,795	$1.38	14d	1	0.26mi
202 Carsons Ct Pocomoke City, MD	3.0	2.0	1472	$1,695	$1.15	14d	1	0.31mi
1513 Princess Anne Ln Pocomoke City, MD	3.0	2.0	1542	$1,950	$1.26	44d	1	0.68mi
2005 S Old Mill Dr Pocomoke City, MD	3.0	2.0	1373	$1,895	$1.38	14d	1	1.22mi
2007 S Old Mill Dr Pocomoke City, MD	3.0	2.0	1302	$1,895	$1.46	14d	1	1.23mi

Listing history 2 events

1. 2026-06-18
   remarks 506-char remark
2. 2026-06-18
   listed $109,900 Active 1 DOM

ⓘ 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: $23,054
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − Depreciation: −$3,197
• Taxable income: $7,814
• Est. tax owed @ 24.0%: −$1,875
• After-tax cash flow: $7,223/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: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

Livability — Pocomoke City

• Score: 71/100
• State rank: #157
• US rank: #7066

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pocomoke City, MD
• Population (ZIP): 7,252

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 54% Black 37% Two or more races 5% Asian 2% Hispanic / Latino 2%
• Common ancestry: Scandinavian 2% Romanian 2% Scotch-Irish 2%
• Foreign-born: 5% · Canada, Dominican Republic, Mexico
• Languages at home: 93% English-only · Other Asian/Pacific 1% Spanish 1% Vietnamese 1%

Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.03%
• Current HPI: 243.2329
• 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