20409 Klondike Rd SW · Klondike, MD 21532

$45,000

4 bd · 2.5 ba · 1,930 sqft · SingleFamily public records · 29 Days on market

Built 1910 0.42 ac 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 +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Two story house on 0.4 acre lot outside the city limits of Frostburg. This is a Fannie Mae HomePath property.

Key facts

• 0.42 acre lot
• Built 1910
• Listed 28 days

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Natural gas; Electric hot water
• Home design: Detached single-family home; Above-grade living space and below-grade area; Above-grade finished area reported by assessor
• Construction: Aluminum siding exterior; Block foundation; Built (year source: assessor)
• Exterior features: Public water and public sewer; No tidal water

Interior

• Bedrooms: Three bedrooms on the first upper level; One bedroom on the main level
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Forced air heating; Natural gas heating fuel; Electric hot water
• Interior features: Unfinished walkout basement with connecting stairway

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $797 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#227 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Allegany County Public Schools (other): math 15% / reading 30% proficiency, ranked #18 of 24 in MD (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: George'S Creek Elementary (math 8% / reading 12%, grade F, #614 of 860 statewide, top 75%, 268 students, 68% FRL); Westmar Middle (math 6% / reading 30%, grade F, #165 of 225 statewide, top 75%, 232 students, 70% FRL); Mountain Ridge High School (math 32% / reading 72%, grade D+, #100 of 222 statewide, top 47%, 736 students, 48% FRL) — zoned schools average 62% FRL vs 47% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 102 active listings in the ZIP; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $311 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Allegany County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; flood insurance adds $56/mo; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $44,325 (1.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.45% ✓
• Cap rate: 29.02%
• Cash-on-cash: 81.16%
• DSCR: 4.61
• GRM: 2.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 75.9%
• Equity multiple: 4.46×
• Total profit: $43,542
• Equity at exit: $6,710

10-year hold

• IRR: 79.5%
• Equity multiple: 9.23×
• Total profit: $103,640
• Equity at exit: $3,891

Cash invested: $12,600 (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 21532

• Home prices YoY: -24.2%
• Active inventory: 102
• Price-to-rent: 2.4×

Monthly cashflow live

• Estimated rent: $1,553 medium
• Mortgage (P&I): −$236
• Tax from tax record: −$120 /mo · $1,441/yr
• Insurance: −$19
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $797

Break-even live

Break-even rent $545

Max offer price $45,000

Occupancy floor 44%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-19
   days on market $45,000 Active 29 DOM
2. 2026-06-18
   days on market $45,000 Active 28 DOM
3. 2026-06-17
   days on market $45,000 Active 27 DOM
4. 2026-06-16
   days on market $45,000 Active 26 DOM
5. 2026-06-15
   days on market $45,000 Active 25 DOM
6. 2026-06-14
   days on market $45,000 Active 23 DOM
7. 2026-06-12
   days on market $45,000 Active 22 DOM
8. 2026-06-09
   days on market $45,000 Active 19 DOM
9. 2026-06-08
   days on market $45,000 Active 18 DOM
10. 2026-06-07
    days on market $45,000 Active 17 DOM
11. 2026-06-02
    days on market $45,000 Active 12 DOM
12. 2026-06-01
    days on market $45,000 Active 11 DOM
13. 2026-05-31
    days on market $45,000 Active 10 DOM
14. 2026-05-30
    days on market $45,000 Active 9 DOM
15. 2026-05-21
    listed $45,000 Active

ⓘ 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: $1,441 · $120/mo
• Projected year-2 tax: $1,441 · $120/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,638
• − Mortgage interest: −$2,521
• − Property taxes: −$1,441
• − Insurance: −$891
• − Repairs & maintenance: −$1,491
• − Management: −$1,491
• − Depreciation: −$1,309
• Taxable income: $9,493
• Est. tax owed @ 24.0%: −$2,278
• After-tax cash flow: $7,281/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: Allegany County Public Schools
• NCES district ID: 2400030
• Math proficiency: 15% ▼ -26.00%
• Reading proficiency: 30% ▼ -20.00%
• Median HH income: $39,760
• Composite: 18.95/100
• National rank: #8854
• State rank: #18 of 24 in MD

Livability — Klondike

• Score: 66/100
• State rank: #227
• US rank: #11352

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Klondike, MD
• Population (ZIP): 13,123

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 68,778 people
• By 2030: 66,766 · -2.9%
• By 2040: 62,784 · -8.7%
• By 2050: 59,179 · -14.0%
• By 2075: 50,732 · -26.2%
• By 2100: 40,837 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 6% Two or more races 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Slovak 5% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+40.3) · D 28.9% · R 69.2% · Other 2.0%
• 2008→2024 swing: -14.4pp toward R · 2008: -25.9pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+38.3 2016: R+48.0 2012: R+32.9 2008: R+25.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.31%
• Current HPI: 244.5937
• 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

Price history

1 event — show timeline

• 2026-05-21 Listed $45,000 BRIGHT MLS

Property tax history

+4.7%/yr

Latest (2025): $1,441 · +13.2% YoY. Source: county tax records.