614 Bladen St · Charlestown, MD 21914

$259,900

3 bd · 1.5 ba · 1,569 sqft · SingleFamily public records · 64 Days on market

Built 1957 0.28 ac lot $166/sqft · 21% below area Est $330k · 21% under

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• Appreciation +7.1/10.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• 1% rule +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

Estate sale

Key facts

• 0.28 acre lot
• Garage
• Built 1957

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-109 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (20.5% below list).
• Recommended offer: $206k (20.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.1% in Charlestown — 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 73/100 on livability (#129 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, 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.
• Market conditions: 5 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (4.3% local appreciation)).
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($244k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; list at $260k implies a 132% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,500 (20.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
3. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 0.79% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.80%
• DSCR: 0.92
• GRM: 10.5

CMA / ARV

• ARV (median comp): $330,050
• List price: $259,900
• Delta: -21.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
167 Bridgewood Ave	0.63mi	3/2.0	1,488 (-5%)	7mo	$468,700	$315	54
90 Salvation Cir	0.56mi	3/2.0	1,710 (+9%)	7mo	$335,000	$196	51
555 Baltimore St	0.49mi	4/2.0 (+1)	1,800 (+15%)	5mo	$362,000	$201	41
120 Cool Springs Rd	0.67mi	3/2.5	1,800 (+15%)	10mo	$385,000	$214	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.29% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 9.5%
• Equity multiple: 1.58×
• Total profit: $42,517
• Equity at exit: $136,179

10-year hold

• IRR: 11.3%
• Equity multiple: 2.92×
• Total profit: $139,938
• Equity at exit: $226,322

Cash invested: $72,772 (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 21914

• Home prices YoY: 1.5%
• Active inventory: 5
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,065 medium
• Mortgage (P&I): −$1,363
• Tax from tax record: −$269 /mo · $3,230/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$434
• Net cashflow: $-109

Break-even live

Break-even rent $2,203

Max offer price $240,633

Occupancy floor —

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: $64,975
• Closing costs: $7,797
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 W Claiborne Rd North East, MD	1.0–2.0	1.0–2.0	973	$2,065	$2.12	1d	21	1.34mi

Listing history 23 events

1. 2026-06-18
   days on market $259,900 Active 64 DOM
2. 2026-06-17
   days on market $259,900 Active 63 DOM
3. 2026-06-16
   days on market $259,900 Active 62 DOM
4. 2026-06-15
   days on market $259,900 Active 61 DOM
5. 2026-06-13
   remarks 220-char remark
6. 2026-06-13
   pricedays on market $259,900 Active 59 DOM
7. 2026-06-09
   days on market $279,900 Active 55 DOM
8. 2026-06-08
   days on market $279,900 Active 54 DOM
9. 2026-06-07
   days on market $279,900 Active 53 DOM
10. 2026-06-04
    days on market $279,900 Active 50 DOM
11. 2026-06-03
    days on market $279,900 Active 49 DOM
12. 2026-06-02
    days on market $279,900 Active 48 DOM
13. 2026-06-01
    days on market $279,900 Active 47 DOM
14. 2026-05-31
    days on market $279,900 Active 46 DOM
15. 2026-04-15
    listed $279,900 Active 12-char remark

    Show marketing remark (12 chars)

    Estate sale

16. 2026-04-02
    historical $279,900 12-char remark

    Show marketing remark (12 chars)

    Estate sale

17. 1999-10-04
    soldstatus $112,000
18. 1999-09-29
    soldstatus $112,000
19. 1999-08-24
    historical
20. 1999-08-14
    listed $112,000
21. 1999-08-06
    historical
22. 1999-05-13
    listed
23. 1985-04-22
    soldstatus $55,370

ⓘ 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: $3,230 · $269/mo
• Projected year-2 tax: $3,230 · $269/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 2/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,780
• − Mortgage interest: −$14,558
• − Property taxes: −$3,230
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,982
• − Management: −$1,982
• − Depreciation: −$7,561
• Taxable loss: −$5,834
• Est. tax savings @ 24.0%: +$1,400
• After-tax cash flow: $91/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: 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 — Charlestown

• Score: 73/100
• State rank: #129
• US rank: #5488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Charlestown, MD
• City population: 786
• Population (ZIP): 786

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 (98%)
• Race & ethnicity: White 98% Two or more races 1%
• Common ancestry: Slovak 6% Iranian 4% Serbian 3%

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: ▲ 4.29%
• Current HPI: 293.6892
• 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

+405.5% since first listed

9 events — show timeline

• 2026-04-15 Listed $279,900 BRIGHT MLS
• 2026-04-02 Coming Soon $279,900 BRIGHT MLS
• 1999-10-04 Sold (Public Records) $112,000 Public Records
• 1999-09-29 Sold (MLS) $112,000 MRIS
• 1999-08-24 Delisted — MRIS
• 1999-08-14 Listed $112,000 MRIS
• 1999-08-06 Delisted — MRIS
• 1999-05-13 Listed — MRIS
• 1985-04-22 Sold (Public Records) $55,370 Public Records

Property tax history

+2.9%/yr

Latest (2025): $3,230 · +18.6% YoY. Source: county tax records.