11651 Freetown Rd · Princess Anne, MD 21853

$129,900

3 bd · 2.0 ba · 1,296 sqft · Manufactured public records · 1 Days on market

Built 1997 6.75 ac lot

---

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 +28.9/30.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• ARV discount +7.5/15.0
• Appreciation +7.5/10.0
• Livability +2.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks

CALLING ALL INVESTORS! 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

• 6.75 acre lot
• Built 1997

Property features AI

Exterior

• Parking: Driveway
• Utilities: Public water; Septic system
• Home design: Detached structure; Above-grade finished area reported as 1,296 (per assessor); Ownership is fee simple
• Construction: Vinyl siding; Block foundation; Above-grade and below-grade other structures listed
• Exterior features: Not in a federal flood zone; Tidal water: none

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Interior features: No basement; Living area reported from assessor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $130k.

Deal economics

• At list price, monthly cash flow is $441 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 10.4% vs local median 4.6% in Princess 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.

Location & tenants

• Location reads 53/100 on livability (#431 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, health & safety A+; Watch: housing C-, schools F, crime 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.
• Market conditions: 58 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 49 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($898 loan paydown + $7k appreciation (5.0% local appreciation)).
• Somerset County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
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: 1.26% ✓
• Cap rate: 10.36%
• Cash-on-cash: 14.54%
• DSCR: 1.65
• GRM: 6.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.05% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.5%
• Equity multiple: 2.60×
• Total profit: $58,372
• Equity at exit: $73,998

10-year hold

• IRR: 24.6%
• Equity multiple: 5.18×
• Total profit: $152,048
• Equity at exit: $128,031

Cash invested: $36,372 (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 21853

• Home prices YoY: 1.8%
• Active inventory: 58
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,643 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$122 /mo · $1,464/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $441

Break-even live

Break-even rent $1,085

Max offer price $129,900

Occupancy floor 68%

Sensitivity live

Price	-10% $514	-5% $477	+0% $441	+5% $404	+10% $367
Rent	-10% $311	-5% $376	+0% $441	+5% $506	+10% $571
Rate	-1.0pp $506	-0.5pp $474	base $441	+0.5pp $407	+1.0pp $373

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
30746 Hampden Ave Unit A Princess Anne, MD	3.0	2.5	1350	$1,800	$1.33	21d	1	0.91mi

Listing history 2 events

1. 2026-06-17
   remarks 430-char remark
2. 2026-06-17
   listed $129,900 Active 1 DOM

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

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $1,464 · $122/mo
• Projected year-2 tax: $1,464 · $122/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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 78% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,717
• − Mortgage interest: −$7,276
• − Property taxes: −$1,464
• − Insurance: −$650
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$3,779
• Taxable income: $3,394
• Est. tax owed @ 24.0%: −$814
• After-tax cash flow: $4,474/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: Somerset County Public Schools
• NCES district ID: 2400570
• Math proficiency: 12% ▼ -7.00%
• Reading proficiency: 23% ▼ -14.00%
• Median HH income: $38,810
• Composite: 14.73/100
• National rank: #9396
• State rank: #22 of 24 in MD

Livability — Princess Anne

• Score: 53/100
• State rank: #431
• US rank: #24481

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Somerset County · 10,537 people
• City population: 10,537
• Metro: Salisbury, MD-DE
• Population (ZIP): 10,537
• Household income: $69,697
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 349.0

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 24,474 people
• By 2030: 23,547 · -3.8%
• By 2040: 21,498 · -12.2%
• By 2050: 20,427 · -16.5%
• By 2075: 16,594 · -32.2%
• By 2100: 12,132 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: Black 49% White 38% Two or more races 8% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Ukrainian 3% Scotch-Irish 1% Romanian 1%
• Foreign-born: 5% · Canada
• Languages at home: 95% English-only · Arabic 3% Spanish 1%

Political lean MEDSL · Somerset

• 2024 margin: R (+17.4) · D 40.2% · R 57.5% · Other 2.3%
• 2008→2024 swing: -14.8pp toward R · 2008: -2.6pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.8 2016: R+17.9 2012: R+2.5 2008: R+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 5.05%
• Current HPI: 285.8789
• Rent YoY: —
• Metro: Salisbury, MD-DE
• 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

-0.1% since first listed

7 events — show timeline

• 2026-06-17 Listed $129,900 BRIGHT MLS
• 2023-09-22 Listing Removed — BRIGHT MLS
• 2023-06-22 Contingent — BRIGHT MLS
• 2023-06-06 Listed $161,995 BRIGHT MLS
• 2023-02-17 Listing Removed — BRIGHT MLS
• 2023-01-03 Listed $149,999 BRIGHT MLS
• 2010-02-25 Sold (Public Records) $130,000 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,464 · +14.8% YoY. Source: county tax records.