216 Fulton St · Hancock, MD 21750

$115,500

3 bd · 1.0 ba · 888 sqft · SingleFamily public records · 14 Days on market

Built 1955 9,938 sqft lot Est $169k · 32% under

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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 +20.8/30.0
• ARV discount +15.0/15.0
• Appreciation +8.2/10.0
• DSCR +6.6/10.0
• 1% rule +4.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0

Listing remarks

This property is a rancher in Hancock that needs plenty of TLC. Property is being sold in AS-IS condition. Seller will not make any repairs.

Key facts

• 9,938 sq ft lot
• Built 1955
• Listed 14 days

Property features AI

Finance

• Financial info: Ownership is fee simple

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached structure; Finished above-grade area noted by assessor
• Construction: Vinyl siding exterior; Block foundation; Above-grade and below-grade structures
• Exterior features: Tidal water not present

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (electric); Central air conditioning (electric); Electric hot water
• Interior features: No basement; Living area determined from assessor records

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $116k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (4.5% below list).
• Recommended offer: $110k (4.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 64/100 on livability (#282 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D-, amenities F, commute F.
• Washingtion County Public Schools (suburban): math 18% / reading 33% proficiency, ranked #13 of 24 in MD (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 27 active listings in the ZIP; 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($799 loan paydown + $7k appreciation (6.3% local appreciation)).
• At projected returns (6.3% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $116k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,291 (4.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.95% ✗
• Cap rate: 7.94%
• Cash-on-cash: 5.88%
• DSCR: 1.26
• GRM: 8.7

CMA / ARV

• ARV (on-the-fly): $168,720
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
106 Franklin St	0.15mi	3/1.0	867 (-2%)	15mo	$145,000	$167	77
208 Fulton St	0.05mi	2/1.0 (-1)	816 (-8%)	4mo	$154,900	$190	76
12 N Church St	0.38mi	3/1.0	837 (-6%)	7mo	$169,900	$203	67
109 Fairview Dr	0.16mi	3/1.0	960 (+8%)	21mo	$175,000	$182	61

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

Projected returns pro-forma

6.35% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 2.42×
• Total profit: $45,785
• Equity at exit: $75,148

10-year hold

• IRR: 19.9%
• Equity multiple: 4.90×
• Total profit: $126,122
• Equity at exit: $138,525

Cash invested: $32,340 (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 21750

• Home prices YoY: 2.6%
• Active inventory: 27
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,103 medium
• Mortgage (P&I): −$606
• Tax from tax record: −$59 /mo · $709/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $158

Break-even live

Break-even rent $902

Max offer price $115,500

Occupancy floor 81%

Sensitivity live

Price	-10% $224	-5% $191	+0% $158	+5% $126	+10% $93
Rent	-10% $71	-5% $115	+0% $158	+5% $202	+10% $245
Rate	-1.0pp $217	-0.5pp $188	base $158	+0.5pp $128	+1.0pp $98

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: $28,875
• Closing costs: $3,465
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $115,500 Active 14 DOM
2. 2026-06-17
   days on market $115,500 Active 13 DOM
3. 2026-06-16
   days on market $115,500 Active 12 DOM
4. 2026-06-15
   days on market $115,500 Active 11 DOM
5. 2026-06-14
   days on market $115,500 Active 9 DOM
6. 2026-06-13
   days on market $115,500 Active 8 DOM
7. 2026-06-10
   days on market $115,500 Active 6 DOM
8. 2026-06-09
   days on market $115,500 Active 5 DOM
9. 2026-06-08
   days on market $115,500 Active 4 DOM
10. 2026-06-07
    remarks 140-char remark
11. 2026-06-07
    listed $115,500 Active 3 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: $709 · $59/mo
• Projected year-2 tax: $984 · $82/mo
• Expected delta: +$275/yr (+$23/mo · 38.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,235
• − Mortgage interest: −$6,470
• − Property taxes: −$709
• − Insurance: −$578
• − Repairs & maintenance: −$1,059
• − Management: −$1,059
• − Depreciation: −$3,360
• Taxable income: $1
• Est. tax owed @ 24.0%: −$0
• After-tax cash flow: $1,900/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: Washingtion County Public Schools
• NCES district ID: 2400660
• Math proficiency: 18% ▼ -20.00%
• Reading proficiency: 33% ▼ -17.00%
• Median HH income: $54,784
• Composite: 22.87/100
• National rank: #8007
• State rank: #13 of 24 in MD

Livability — Hancock

• Score: 64/100
• State rank: #282
• US rank: #14469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hancock, MD
• Population (ZIP): 3,585

Population outlook (Washington County) Hauer SSP2

• Today (2025): 151,614 people
• By 2030: 151,455 · -0.1%
• By 2040: 150,097 · -1.0%
• By 2050: 148,193 · -2.3%
• By 2075: 146,581 · -3.3%
• By 2100: 138,025 · -9.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 5% Hispanic / Latino 1%
• Common ancestry: Slovak 3% Romanian 3% Italian 3%
• Foreign-born: 1% · Vietnam, Canada
• Languages at home: 97% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+23.0) · D 37.3% · R 60.4% · Other 2.3%
• 2008→2024 swing: -10.2pp toward R · 2008: -12.9pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+20.9 2016: R+32.4 2012: R+18.5 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.35%
• Current HPI: 253.5512
• 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

+320.0% since first listed

3 events — show timeline

• 2026-06-04 Listed $115,500 BRIGHT MLS
• 1991-01-16 Sold (Public Records) $52,000 Public Records
• 1986-01-17 Sold (Public Records) $27,500 Public Records

Property tax history

-2.3%/yr

Latest (2025): $709 · +5.6% YoY. Source: county tax records.