5620 Tulls Corner Rd · Fairmount, MD 21838

$65,000

3 bd · 1.5 ba · 1,400 sqft · SingleFamily public records · 185 Days on market

Built 1920 0.46 ac lot $46/sqft · 63% below area

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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
• Appreciation +7.5/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks

Owner Financing available $15,000 DOWNPAYMENT REQUIRED

Key facts

• 0.46 acre lot
• Garage
• Built 1920

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 60/100 on livability (#346 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment B+; Watch: schools F, crime F, amenities 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: 21 active listings in the ZIP; 49 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($449 loan paydown + $3k appreciation (5.1% 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 (5.1% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.55% ✓
• Cap rate: 22.14%
• Cash-on-cash: 56.59%
• DSCR: 3.52
• GRM: 3.3

CMA / ARV

• ARV (median comp): $173,492
• List price: $65,000
• Delta: -62.53%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28797 Hudson Corner Rd	0.61mi	3/1.5	1,300 (-7%)	13mo	$172,500	$133	48

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

Projected returns pro-forma

5.09% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 63.8%
• Equity multiple: 4.85×
• Total profit: $69,991
• Equity at exit: $37,170

10-year hold

• IRR: 61.6%
• Equity multiple: 10.02×
• Total profit: $164,231
• Equity at exit: $64,429

Cash invested: $18,200 (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 21838

• Home prices YoY: 1.6%
• Active inventory: 21
• Price-to-rent: 3.3×

Monthly cashflow live

• Estimated rent: $1,655 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $858

Break-even live

Break-even rent $569

Max offer price $65,000

Occupancy floor 43%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Listing history 37 events

1. 2026-06-18
   days on market $65,000 Active 185 DOM
2. 2026-06-17
   days on market $65,000 Active 184 DOM
3. 2026-06-16
   days on market $65,000 Active 183 DOM
4. 2026-06-15
   days on market $65,000 Active 182 DOM
5. 2026-06-14
   days on market $65,000 Active 180 DOM
6. 2026-06-13
   days on market $65,000 Active 179 DOM
7. 2026-06-10
   days on market $65,000 Active 177 DOM
8. 2026-06-09
   days on market $65,000 Active 176 DOM
9. 2026-06-08
   days on market $65,000 Active 175 DOM
10. 2026-06-07
    days on market $65,000 Active 174 DOM
11. 2026-06-02
    days on market $65,000 Active 169 DOM
12. 2026-06-01
    days on market $65,000 Active 168 DOM
13. 2026-05-31
    days on market $65,000 Active 167 DOM
14. 2026-05-30
    days on market $65,000 Active 166 DOM
15. 2025-12-15
    listed $65,000 Active
16. 2025-11-20
    historical
17. 2025-04-09
    price $65,000
18. 2024-11-20
    listed $85,000 Active
19. 2023-12-12
    soldstatus $80,000
20. 2022-12-21
    soldstatus $34,500
21. 2022-12-09
    soldstatus $34,500 Closed
22. 2022-10-27
    status Pending
23. 2022-10-10
    price $39,900
24. 2022-10-07
    status Active
25. 2022-09-21
    status Pending
26. 2022-09-10
    price $44,900
27. 2022-08-23
    price $49,900
28. 2022-07-21
    price $59,900
29. 2022-06-28
    price $65,000
30. 2022-06-13
    price $67,000
31. 2022-05-11
    price $68,500
32. 2022-04-20
    price $70,000
33. 2022-04-20
    status Active
34. 2022-04-15
    status Pending
35. 2022-03-16
    price $72,500
36. 2022-02-18
    listed $75,000 Active
37. 2021-12-09
    soldstatus $45,000

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 58% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 18 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,862
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,589
• − Management: −$1,589
• − Depreciation: −$1,891
• Taxable income: $9,852
• Est. tax owed @ 24.0%: −$2,364
• After-tax cash flow: $7,936/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 — Fairmount

• Score: 60/100
• State rank: #346
• US rank: #18641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 52
• Population (ZIP): 1,975

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: Predominantly White (86%)
• Race & ethnicity: White 86% Two or more races 9% Black 5% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Lithuanian 2% Estonian 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: ▲ 5.09%
• Current HPI: 321.7009
• 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

+44.4% since first listed

23 events — show timeline

• 2025-12-15 Listed $65,000 BRIGHT MLS
• 2025-11-20 Listing Removed — BRIGHT MLS
• 2025-04-09 Price Changed $65,000 BRIGHT MLS
• 2024-11-20 Listed $85,000 BRIGHT MLS
• 2023-12-12 Sold (Public Records) $80,000 Public Records
• 2022-12-21 Sold (Public Records) $34,500 Public Records
• 2022-12-09 Sold (MLS) $34,500 BRIGHT MLS
• 2022-10-27 Pending — BRIGHT MLS
• 2022-10-10 Price Changed $39,900 BRIGHT MLS
• 2022-10-07 Relisted — BRIGHT MLS
• 2022-09-21 Pending — BRIGHT MLS
• 2022-09-10 Price Changed $44,900 BRIGHT MLS
• 2022-08-23 Price Changed $49,900 BRIGHT MLS
• 2022-07-21 Price Changed $59,900 BRIGHT MLS
• 2022-06-28 Price Changed $65,000 BRIGHT MLS
• 2022-06-13 Price Changed $67,000 BRIGHT MLS
• 2022-05-11 Price Changed $68,500 BRIGHT MLS
• 2022-04-20 Price Changed $70,000 BRIGHT MLS
• 2022-04-20 Relisted — BRIGHT MLS
• 2022-04-15 Pending — BRIGHT MLS
• 2022-03-16 Price Changed $72,500 BRIGHT MLS
• 2022-02-18 Listed $75,000 BRIGHT MLS
• 2021-12-09 Sold (Public Records) $45,000 Public Records

Property tax history

+11.9%/yr

Latest (2025): $3,799 · +360.0% YoY. Source: county tax records.