47 Park Ln · Easton, MD 21601

$99,000

2 bd · 1.0 ba · 1,068 sqft · Manufactured · 57 Days on market

Built 1979 $93/sqft · 34% below area Est $150k · 34% under $691/mo HOA · 36% of rent

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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).

• Cash flow +21.2/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +6.7/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Come see this charming home located in the sought after 55+ community of Hyde Park a Sun Community in Easton. This home offers lots of updates throughout. Major improvements: new roof (2017), Heat pump (2023) A/C unit (2017) Beautiful Laminate flooring (2017) New deck and sliding door (2017) Some new vinyl windows (2022) New Shed (2017), All newer appliances within 5 yrs to include washer and dryer. Additional upgrades include: Resurfaced Driveway (2020) Upgraded interior lighting (2017) Repainted interior & exterior (2018) New exterior shutters (2022) Upgraded landscaping & exterior lighting (2017). You will find the location in the park unbeatable as it backs up to beautiful t

Key facts

• Laminate flooring
• Heat pump
• New deck

Tags

• NEW ROOF
• HEAT PUMP
• A C UNIT
• LAMINATE FLOORING
• NEW DECK
• NEW SHED

Property features AI

Finance

• Other: Located in a senior community (55+); Road responsibility: HOA; Outside city limits; Directions: From Cordova Rd into Hyde Park, follow Park Lane straight back, house is on the left
• Financial info: Monthly ground rent payment; Ground rent shown separately from HOA fee
• HOA & community: Monthly HOA fee includes common area maintenance, pool, road maintenance, sewer, trash and water; HOA amenities include clubhouse, common grounds, dog park, picnic area, outdoor pool, retirement community features

Exterior

• Parking: Asphalt driveway; Driveway parking (2 spaces); On-street parking; Total of 2 garage and parking spaces
• Utilities: Community water; Public sewer; Cable TV available; Electric hot water
• Home design: Manufactured single-wide; Estimated year of major remodel: 2017; Ownership type: ground rent; Ground rent exists (monthly)
• Construction: Metal siding; Building not winterized
• Exterior features: Patio; Enclosed porch; Deck; Shed; Rear yard; Backs to trees; Landscaped; Level lot; Road frontage; Side yard(s); Community pool (fenced)

Interior

• Kitchen: Dishwasher; Electric oven/range; Range hood; Refrigerator; Water heater
• Bedrooms: 2 bedrooms on the main level
• Flooring: Laminate plank
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Heat pump heating; Central air conditioning; Electric heating and cooling
• Interior features: Traditional floor plan; Not furnished
• Laundry & utility: Washer and electric dryer in unit on the main floor

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $99k.

Deal economics

• At list price, monthly cash flow is $143 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 3.8% in Easton — 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 (#154 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A-, employment B+; Watch: amenities C-, crime D, commute F.
• Talbot County Public Schools (town): math 15% / reading 35% proficiency, ranked #12 of 24 in MD (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Easton High (math 40% / reading 65%, grade C-, #98 of 222 statewide, top 44%, 1,203 students, 56% FRL) — zoned schools average 56% FRL vs 37% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 52% at this address vs 25% district-wide (+28 pts) — the actual schools serving this property are materially stronger than the Talbot County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 207 active listings in the ZIP; solid renter incomes; 158 units permitted in Talbot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Talbot County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 29y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $99k implies a 321% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 1.94% ✓
• Cap rate: 8.02%
• Cash-on-cash: 6.17%
• DSCR: 1.27
• GRM: 4.3

CMA / ARV

• ARV (median comp): $150,220
• List price: $99,000
• Delta: -34.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-6,504
• Equity at exit: $14,761

10-year hold

• IRR: 3.8%
• Equity multiple: 1.28×
• Total profit: $7,877
• Equity at exit: $8,560

Cash invested: $27,720 (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 21601

• Home prices YoY: -31.0%
• Active inventory: 207
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,921 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,485/yr
• Insurance: −$41
• HOA: −$691
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $143

Break-even live

Break-even rent $1,741

Max offer price $99,000

Occupancy floor 88%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $691 · $8,292/yr
• Likely covers: landscaping

Listing history 27 events

1. 2026-06-19
   days on market $99,000 Active 57 DOM
2. 2026-06-18
   days on market $99,000 Active 56 DOM
3. 2026-06-17
   days on market $99,000 Active 55 DOM
4. 2026-06-16
   days on market $99,000 Active 54 DOM
5. 2026-06-15
   days on market $99,000 Active 53 DOM
6. 2026-06-14
   days on market $99,000 Active 51 DOM
7. 2026-06-12
   days on market $99,000 Active 50 DOM
8. 2026-06-09
   days on market $99,000 Active 47 DOM
9. 2026-06-08
   days on market $99,000 Active 46 DOM
10. 2026-06-07
    days on market $99,000 Active 45 DOM
11. 2026-06-03
    days on market $99,000 Active 41 DOM
12. 2026-06-02
    days on market $99,000 Active 40 DOM
13. 2026-06-01
    days on market $99,000 Active 39 DOM
14. 2026-05-31
    days on market $99,000 Active 38 DOM
15. 2026-05-30
    days on market $99,000 Active 37 DOM
16. 2026-04-23
    listed $119,000 Active 1333-char remark
17. 2012-11-02
    historical
18. 2012-11-02
    historical
19. 2011-11-01
    listed Active
20. 2011-11-01
    listed $49,900
21. 2011-09-30
    historical Withdrawn
22. 2010-01-21
    status Active
23. 2010-01-09
    historical Expired
24. 2009-01-16
    listed
25. 1997-11-20
    soldstatus $23,500
26. 1997-10-25
    historical
27. 1997-10-08
    listed $25,000

ⓘ 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: $23,055
• − Mortgage interest: −$5,546
• − Property taxes: −$1,485
• − Insurance: −$495
• − Repairs & maintenance: −$1,844
• − Management: −$1,844
• − HOA: −$8,292
• − Depreciation: −$2,880
• Taxable income: $669
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $1,551/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: Talbot County Public Schools
• NCES district ID: 2400630
• Math proficiency: 15% ▼ -19.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $61,786
• Composite: 23.11/100
• National rank: #7961
• State rank: #12 of 24 in MD

Livability — Easton

• Score: 71/100
• State rank: #154
• US rank: #6882

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Easton, MD
• County: Talbot County · 24,671 people
• City population: 24,671
• Metro: Easton, MD
• Population (ZIP): 24,671
• Household income: $83,680
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 771.0

Population outlook (Talbot County) Hauer SSP2

• Today (2025): 36,811 people
• By 2030: 36,305 · -1.4%
• By 2040: 34,818 · -5.4%
• By 2050: 32,982 · -10.4%
• By 2075: 29,631 · -19.5%
• By 2100: 25,767 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 14% Hispanic / Latino 10% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Guatemala
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 2%

Political lean MEDSL · Talbot

• 2024 margin: Toss-up / Even · D 49.0% · R 49.1% · Other 1.9%
• 2008→2024 swing: +9.6pp toward D · 2008: -9.6pp · 2024: -0.0pp
• All cycles: 2024: R+0.0 2020: D+0.5 2016: R+11.9 2012: R+13.2 2008: R+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.01%
• Current HPI: 229.2902
• Rent YoY: —
• Metro: Easton, 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

+296.0% since first listed

13 events — show timeline

• 2026-05-27 Price Changed $99,000 BRIGHT MLS
• 2026-04-23 Listed $119,000 BRIGHT MLS
• 2012-11-02 Delisted — MRIS
• 2012-11-02 Listing Removed — BRIGHT MLS
• 2011-11-01 Listed — MRIS
• 2011-11-01 Listed $49,900 BRIGHT MLS
• 2011-09-30 Delisted — MRIS
• 2010-01-21 Relisted — MRIS
• 2010-01-09 Delisted — MRIS
• 2009-01-16 Listed — MRIS
• 1997-11-20 Sold (MLS) $23,500 MRIS
• 1997-10-25 Delisted — MRIS
• 1997-10-08 Listed $25,000 MRIS