5985 4th St · Deale, MD 20751

$369,900

3 bd · 1.5 ba · 1,248 sqft · SingleFamily public records · 27 Days on market

Built 1992 8,000 sqft lot $296/sqft · 15% below area Est $437k · 15% under

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Why this score? — see what drove the D 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 +14.4/15.0
• Cash flow +10.3/30.0
• Livability +3.5/5.0
• DSCR +3.0/10.0
• Schools +2.9/10.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Here's a great opportunity for first time buyers or investors. This turnkey 3 BR 2 full Bath, Cape Cod in Deale Beach is ready now, seller prefers to sell "as is", but to our knowledge, only the electric range needs to be replaced rear deck is being replaced. This property has been in property management for last 20 years and is only being sold due to the owner's retirement. The property shows incredibly well. First floor bedroom with full bath, plus a 2nd whirlpool tub, sperate laundry room, living room with hardwood floors, second level two bedrooms, full bath and newer carpets. Lot is 8,000 sq. ft and fenced in the rear. Deale Beach is a small residential Chesapeake Bay community close to local marinas, waterfront dining, plus it has a community waterfront clubhouse, boat ramp and a shared community pier. Enjoy crabbing, fishing, boating, kayaking and paddle boarding. There are only 3 other active properties for sale in Deale Beach, priced at $1.15 million, $725K and $525K. This is a must see for first time buyers or investors.

Key facts

• Whirlpool tub
• Turnkey cape cod
• First floor bedroom

Tags

• TURNKEY CAPE COD
• FIRST FLOOR BEDROOM
• WHIRLPOOL TUB
• SEPARATE LAUNDRY ROOM
• COMMUNITY WATERFRONT CLUBHOUSE
• BOAT RAMP

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $-201 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $334k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $281k (24.1% below list).
• Recommended offer: $281k (24.1% below list) — sets the bar for 1% rule.
• Cap rate 5.6% vs local median 2.3% in Deale — 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 70/100 on livability (#166 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: health & safety C-, amenities F, commute F.
• Anne Arundel County Public Schools (suburban): math 20% / reading 37% proficiency, ranked #10 of 24 in MD (top 42%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Monarch Global Academy Pcs Laurel Campus (math 13% / reading 28%, grade F, #341 of 860 statewide, top 40%, 830 students, 53% FRL); Southern Middle (math 8% / reading 39%, grade F, #118 of 225 statewide, top 54%, 755 students, 45% FRL); Southern High (math 52% / reading 73%, grade B-, #62 of 222 statewide, top 29%, 1,066 students, 40% FRL) — zoned schools average 46% FRL vs 25% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 15 active listings in the ZIP; 1,303 units permitted in Anne Arundel County in 2024 (299 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Anne Arundel County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $127k; list at $370k implies a 191% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; major wind risk, 69% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $280,673 (24.1% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. 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.
6. 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.
7. 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: 0.76% ✗
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 11.0

CMA / ARV

• ARV (median comp): $437,232
• List price: $369,900
• Delta: -15.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5985 4th St	0.00mi	3/2.0	1,248 (0%)	1mo	$360,000	$288	97
968 Chesapeake Ave	0.17mi	3/2.0	1,251 (+0%)	7mo	$475,000	$380	84
5977 3rd St	0.03mi	4/2.5 (+1)	1,220 (-2%)	6mo	$405,000	$332	81
5942 Flood Ave	0.14mi	3/1.5	1,296 (+4%)	10mo	$425,000	$328	79
5930 Sneed Dr	0.51mi	3/3.0	1,344 (+8%)	1mo	$400,000	$298	56
5983 Tyler Rd	0.69mi	3/2.0	1,119 (-10%)	15mo	$395,800	$354	36

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

Projected returns pro-forma

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

5-year hold

• IRR: -20.2%
• Equity multiple: 0.30×
• Total profit: $-72,774
• Equity at exit: $55,153

10-year hold

• IRR: -13.2%
• Equity multiple: 0.23×
• Total profit: $-80,014
• Equity at exit: $31,982

Cash invested: $103,572 (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 20751

• Home prices YoY: -18.1%
• Active inventory: 15
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,807 medium
• Mortgage (P&I): −$1,940
• Tax from tax record: −$324 /mo · $3,891/yr
• Insurance: −$154
• HOA: −$0
• Vacancy / Maint / Mgmt: −$589
• Net cashflow: $-201

Break-even live

Break-even rent $3,061

Max offer price $334,421

Occupancy floor —

Sensitivity live

Price	-10% $9	-5% $-96	+0% $-201	+5% $-306	+10% $-410
Rent	-10% $-423	-5% $-312	+0% $-201	+5% $-90	+10% $21
Rate	-1.0pp $-15	-0.5pp $-107	base $-201	+0.5pp $-297	+1.0pp $-394

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: $92,475
• Closing costs: $11,097
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-05
   status Pending 1056-char remark

   Show marketing remark (1056 chars)

   Here's a great opportunity for first time buyers or investors. This turnkey 3 BR 2 full Bath, Cape Cod in Deale Beach is ready now, seller prefers to sell "as is", but to our knowledge, only the electric range needs to be replaced rear deck is being replaced. This property has been in property management for last 20 years and is only being sold due to the owner's retirement. The property shows incredibly well. First floor bedroom with full bath, plus a 2nd whirlpool tub, sperate laundry room, living room with hardwood floors, second level two bedrooms, full bath and newer carpets. Lot is 8,000 sq. ft and fenced in the rear. Deale Beach is a small residential Chesapeake Bay community close to local marinas, waterfront dining, plus it has a community waterfront clubhouse, boat ramp and a shared community pier. Enjoy crabbing, fishing, boating, kayaking and paddle boarding. There are only 3 other active properties for sale in Deale Beach, priced at $1.15 million, $725K and $525K. This is a must see for first time buyers or investors.

2. 2026-04-30
   price $369,900 1056-char remark

   Show marketing remark (1056 chars)

   Here's a great opportunity for first time buyers or investors. This turnkey 3 BR 2 full Bath, Cape Cod in Deale Beach is ready now, seller prefers to sell "as is", but to our knowledge, only the electric range needs to be replaced rear deck is being replaced. This property has been in property management for last 20 years and is only being sold due to the owner's retirement. The property shows incredibly well. First floor bedroom with full bath, plus a 2nd whirlpool tub, sperate laundry room, living room with hardwood floors, second level two bedrooms, full bath and newer carpets. Lot is 8,000 sq. ft and fenced in the rear. Deale Beach is a small residential Chesapeake Bay community close to local marinas, waterfront dining, plus it has a community waterfront clubhouse, boat ramp and a shared community pier. Enjoy crabbing, fishing, boating, kayaking and paddle boarding. There are only 3 other active properties for sale in Deale Beach, priced at $1.15 million, $725K and $525K. This is a must see for first time buyers or investors.

3. 2026-04-08
   listed $374,900 Active 1056-char remark

   Show marketing remark (1056 chars)

   Here's a great opportunity for first time buyers or investors. This turnkey 3 BR 2 full Bath, Cape Cod in Deale Beach is ready now, seller prefers to sell "as is", but to our knowledge, only the electric range needs to be replaced rear deck is being replaced. This property has been in property management for last 20 years and is only being sold due to the owner's retirement. The property shows incredibly well. First floor bedroom with full bath, plus a 2nd whirlpool tub, sperate laundry room, living room with hardwood floors, second level two bedrooms, full bath and newer carpets. Lot is 8,000 sq. ft and fenced in the rear. Deale Beach is a small residential Chesapeake Bay community close to local marinas, waterfront dining, plus it has a community waterfront clubhouse, boat ramp and a shared community pier. Enjoy crabbing, fishing, boating, kayaking and paddle boarding. There are only 3 other active properties for sale in Deale Beach, priced at $1.15 million, $725K and $525K. This is a must see for first time buyers or investors.

4. 1996-04-18
   soldstatus $127,000
5. 1985-04-29
   soldstatus $11,500

ⓘ 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: $3,891 · $324/mo
• Projected year-2 tax: $3,961 · $330/mo
• Expected delta: +$71/yr (+$6/mo · 1.8%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 57% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 69% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,681
• − Mortgage interest: −$20,720
• − Property taxes: −$3,891
• − Insurance: −$1,850
• − Repairs & maintenance: −$2,694
• − Management: −$2,694
• − Depreciation: −$10,761
• Taxable loss: −$8,929
• Est. tax savings @ 24.0%: +$2,143
• After-tax cash flow: $-267/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: Anne Arundel County Public Schools
• NCES district ID: 2400060
• Math proficiency: 20% ▼ -21.00%
• Reading proficiency: 37% ▼ -13.00%
• Median HH income: $87,880
• Composite: 28.52/100
• National rank: #6733
• State rank: #10 of 24 in MD

Livability — Deale

• Score: 70/100
• State rank: #166
• US rank: #7418

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Deale, MD
• City population: 5,332
• Population (ZIP): 2,552

Population outlook (Anne Arundel County) Hauer SSP2

• Today (2025): 617,384 people
• By 2030: 642,094 · +4.0%
• By 2040: 686,621 · +11.2%
• By 2050: 723,031 · +17.1%
• By 2075: 809,346 · +31.1%
• By 2100: 837,658 · +35.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 14% Hispanic / Latino 8% Black 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 1% Cuban 2%
• Common ancestry: Slovak 3% Lithuanian 1% Serbian 1%
• Foreign-born: 4% · Canada, Jamaica, South Korea
• Languages at home: 96% English-only · Spanish 3%

Political lean MEDSL · Anne Arundel

• 2024 margin: D (+13.9) · D 55.7% · R 41.7% · Other 2.6%
• 2008→2024 swing: +15.7pp toward D · 2008: -1.8pp · 2024: 13.9pp
• All cycles: 2024: D+13.9 2020: D+14.5 2016: D+0.7 2012: R+0.9 2008: R+1.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.09%
• Current HPI: 285.8047
• 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

+3116.5% since first listed

5 events — show timeline

• 2026-05-05 Pending — BRIGHT MLS
• 2026-04-30 Price Changed $369,900 BRIGHT MLS
• 2026-04-08 Listed $374,900 BRIGHT MLS
• 1996-04-18 Sold (Public Records) $127,000 Public Records
• 1985-04-29 Sold (Public Records) $11,500 Public Records

Property tax history

+2.3%/yr

Latest (2025): $3,891 · +4.2% YoY. Source: county tax records.