26471 Three Bridges Rd · Federalsburg, MD 21632

$120,000

2 bd · 1.0 ba · 640 sqft · SingleFamily public records · 252 Days on market

Built 1962 0.43 ac lot $188/sqft · 32% below area Est $176k · 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 +28.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +6.7/10.0
• Appreciation +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

* * Back Active at no fault of the seller * * Opportunity awaits at 26471 Three Bridges Rd in Federalsburg, MD! This partially remodeled 2-bedroom, 2-bath home is ready for your finishing touch. Inside, the property has been taken down to the framing and subflooring, giving you a true blank canvas to bring your vision to life—whether you’re an investor looking for your next project or a buyer ready to customize every detail. Set on nearly a half-acre lot surrounded by trees, the home offers privacy and a peaceful wooded setting while still being just a short drive to town conveniences. With the major groundwork already started, this property presents the perfect chance to create a modern retreat or a profitable investment in a serene location. Bring your creativity and tools—this is a project with endless potential! Property being sold AS-IS WHERE IS

Key facts

• Half-acre lot
• 0.43 acre lot
• Built 1962

Tags

• HALF-ACRE LOT
• PEACEFUL WOODED SETTING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 4.8% in Federalsburg — 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 65/100 on livability (#266 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, health & safety A; Watch: housing C-, schools F, amenities F.
• Caroline County Public Schools (rural): math 13% / reading 29% proficiency, ranked #17 of 24 in MD (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 46 active listings in the ZIP; 59 units permitted in Caroline County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $830 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Caroline County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-2.2% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 252 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $120k implies a 380% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 64% 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 $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 252 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 1962 — 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. 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: 1.17% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.91%
• DSCR: 1.62
• GRM: 7.1

CMA / ARV

• ARV (median comp): $175,724
• List price: $120,000
• Delta: -31.71%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-2.22% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 6.7%
• Equity multiple: 1.28×
• Total profit: $9,249
• Equity at exit: $22,085

10-year hold

• IRR: 14.7%
• Equity multiple: 2.29×
• Total profit: $43,272
• Equity at exit: $17,722

Cash invested: $33,600 (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 21632

• Home prices YoY: -0.7%
• Active inventory: 46
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,402 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$39 /mo · $469/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $389

Break-even live

Break-even rent $909

Max offer price $120,000

Occupancy floor 67%

Sensitivity live

Price	-10% $457	-5% $423	+0% $389	+5% $355	+10% $321
Rent	-10% $279	-5% $334	+0% $389	+5% $445	+10% $500
Rate	-1.0pp $450	-0.5pp $420	base $389	+0.5pp $358	+1.0pp $327

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $120,000 Active 252 DOM
2. 2026-06-17
   days on market $120,000 Active 251 DOM
3. 2026-06-16
   days on market $120,000 Active 250 DOM
4. 2026-06-15
   days on market $120,000 Active 249 DOM
5. 2026-06-13
   days on market $120,000 Active 247 DOM
6. 2026-06-12
   days on market $120,000 Active 246 DOM
7. 2026-06-09
   days on market $120,000 Active 243 DOM
8. 2026-06-08
   days on market $120,000 Active 242 DOM
9. 2026-06-07
   days on market $120,000 Active 241 DOM
10. 2026-06-07
    days on market $120,000 Active 240 DOM
11. 2026-06-04
    days on market $120,000 Active 237 DOM
12. 2026-06-02
    days on market $120,000 Active 236 DOM
13. 2026-06-01
    days on market $120,000 Active 235 DOM
14. 2026-05-31
    days on market $120,000 Active 234 DOM
15. 2026-05-31
    days on market $120,000 Active 233 DOM
16. 2026-03-26
    status Active 883-char remark

    Show marketing remark (883 chars)

    * * Back Active at no fault of the seller * * Opportunity awaits at 26471 Three Bridges Rd in Federalsburg, MD! This partially remodeled 2-bedroom, 2-bath home is ready for your finishing touch. Inside, the property has been taken down to the framing and subflooring, giving you a true blank canvas to bring your vision to life—whether you’re an investor looking for your next project or a buyer ready to customize every detail. Set on nearly a half-acre lot surrounded by trees, the home offers privacy and a peaceful wooded setting while still being just a short drive to town conveniences. With the major groundwork already started, this property presents the perfect chance to create a modern retreat or a profitable investment in a serene location. Bring your creativity and tools—this is a project with endless potential! Property being sold AS-IS WHERE IS

17. 2026-03-11
    status Pending 883-char remark

    Show marketing remark (883 chars)

    * * Back Active at no fault of the seller * * Opportunity awaits at 26471 Three Bridges Rd in Federalsburg, MD! This partially remodeled 2-bedroom, 2-bath home is ready for your finishing touch. Inside, the property has been taken down to the framing and subflooring, giving you a true blank canvas to bring your vision to life—whether you’re an investor looking for your next project or a buyer ready to customize every detail. Set on nearly a half-acre lot surrounded by trees, the home offers privacy and a peaceful wooded setting while still being just a short drive to town conveniences. With the major groundwork already started, this property presents the perfect chance to create a modern retreat or a profitable investment in a serene location. Bring your creativity and tools—this is a project with endless potential! Property being sold AS-IS WHERE IS

18. 2026-03-11
    historical Active Under Contract 883-char remark

    Show marketing remark (883 chars)

    * * Back Active at no fault of the seller * * Opportunity awaits at 26471 Three Bridges Rd in Federalsburg, MD! This partially remodeled 2-bedroom, 2-bath home is ready for your finishing touch. Inside, the property has been taken down to the framing and subflooring, giving you a true blank canvas to bring your vision to life—whether you’re an investor looking for your next project or a buyer ready to customize every detail. Set on nearly a half-acre lot surrounded by trees, the home offers privacy and a peaceful wooded setting while still being just a short drive to town conveniences. With the major groundwork already started, this property presents the perfect chance to create a modern retreat or a profitable investment in a serene location. Bring your creativity and tools—this is a project with endless potential! Property being sold AS-IS WHERE IS

19. 2026-02-15
    price $120,000 883-char remark

    Show marketing remark (883 chars)

    * * Back Active at no fault of the seller * * Opportunity awaits at 26471 Three Bridges Rd in Federalsburg, MD! This partially remodeled 2-bedroom, 2-bath home is ready for your finishing touch. Inside, the property has been taken down to the framing and subflooring, giving you a true blank canvas to bring your vision to life—whether you’re an investor looking for your next project or a buyer ready to customize every detail. Set on nearly a half-acre lot surrounded by trees, the home offers privacy and a peaceful wooded setting while still being just a short drive to town conveniences. With the major groundwork already started, this property presents the perfect chance to create a modern retreat or a profitable investment in a serene location. Bring your creativity and tools—this is a project with endless potential! Property being sold AS-IS WHERE IS

20. 2026-01-04
    price $140,000 883-char remark

    Show marketing remark (883 chars)

    * * Back Active at no fault of the seller * * Opportunity awaits at 26471 Three Bridges Rd in Federalsburg, MD! This partially remodeled 2-bedroom, 2-bath home is ready for your finishing touch. Inside, the property has been taken down to the framing and subflooring, giving you a true blank canvas to bring your vision to life—whether you’re an investor looking for your next project or a buyer ready to customize every detail. Set on nearly a half-acre lot surrounded by trees, the home offers privacy and a peaceful wooded setting while still being just a short drive to town conveniences. With the major groundwork already started, this property presents the perfect chance to create a modern retreat or a profitable investment in a serene location. Bring your creativity and tools—this is a project with endless potential! Property being sold AS-IS WHERE IS

21. 2025-09-24
    listed $150,000 Active 883-char remark

    Show marketing remark (883 chars)

    * * Back Active at no fault of the seller * * Opportunity awaits at 26471 Three Bridges Rd in Federalsburg, MD! This partially remodeled 2-bedroom, 2-bath home is ready for your finishing touch. Inside, the property has been taken down to the framing and subflooring, giving you a true blank canvas to bring your vision to life—whether you’re an investor looking for your next project or a buyer ready to customize every detail. Set on nearly a half-acre lot surrounded by trees, the home offers privacy and a peaceful wooded setting while still being just a short drive to town conveniences. With the major groundwork already started, this property presents the perfect chance to create a modern retreat or a profitable investment in a serene location. Bring your creativity and tools—this is a project with endless potential! Property being sold AS-IS WHERE IS

22. 2024-07-18
    soldstatus $25,000 Closed 355-char remark

    Show marketing remark (355 chars)

    Welcome to this investor’s special in Federalsburg, Maryland! This 3-bedroom, 1-bathroom home is situated in a peaceful neighborhood on almost a half acre lot. Conveniently located near schools and just a short drive into town this property is a must-see. Don't miss out on the opportunity, schedule a viewing today. Contact us for more information.

23. 2024-06-21
    status Pending 355-char remark

    Show marketing remark (355 chars)

    Welcome to this investor’s special in Federalsburg, Maryland! This 3-bedroom, 1-bathroom home is situated in a peaceful neighborhood on almost a half acre lot. Conveniently located near schools and just a short drive into town this property is a must-see. Don't miss out on the opportunity, schedule a viewing today. Contact us for more information.

24. 2024-06-17
    status Active 355-char remark

    Show marketing remark (355 chars)

    Welcome to this investor’s special in Federalsburg, Maryland! This 3-bedroom, 1-bathroom home is situated in a peaceful neighborhood on almost a half acre lot. Conveniently located near schools and just a short drive into town this property is a must-see. Don't miss out on the opportunity, schedule a viewing today. Contact us for more information.

25. 2024-06-13
    status Pending 355-char remark

    Show marketing remark (355 chars)

    Welcome to this investor’s special in Federalsburg, Maryland! This 3-bedroom, 1-bathroom home is situated in a peaceful neighborhood on almost a half acre lot. Conveniently located near schools and just a short drive into town this property is a must-see. Don't miss out on the opportunity, schedule a viewing today. Contact us for more information.

26. 2024-06-13
    historical Active Under Contract 355-char remark

    Show marketing remark (355 chars)

    Welcome to this investor’s special in Federalsburg, Maryland! This 3-bedroom, 1-bathroom home is situated in a peaceful neighborhood on almost a half acre lot. Conveniently located near schools and just a short drive into town this property is a must-see. Don't miss out on the opportunity, schedule a viewing today. Contact us for more information.

27. 2024-05-31
    price $24,999 355-char remark

    Show marketing remark (355 chars)

    Welcome to this investor’s special in Federalsburg, Maryland! This 3-bedroom, 1-bathroom home is situated in a peaceful neighborhood on almost a half acre lot. Conveniently located near schools and just a short drive into town this property is a must-see. Don't miss out on the opportunity, schedule a viewing today. Contact us for more information.

28. 2024-03-04
    listed $30,000 Active 355-char remark

    Show marketing remark (355 chars)

    Welcome to this investor’s special in Federalsburg, Maryland! This 3-bedroom, 1-bathroom home is situated in a peaceful neighborhood on almost a half acre lot. Conveniently located near schools and just a short drive into town this property is a must-see. Don't miss out on the opportunity, schedule a viewing today. Contact us for more information.

29. 2024-02-26
    historical $30,000 355-char remark

    Show marketing remark (355 chars)

    Welcome to this investor’s special in Federalsburg, Maryland! This 3-bedroom, 1-bathroom home is situated in a peaceful neighborhood on almost a half acre lot. Conveniently located near schools and just a short drive into town this property is a must-see. Don't miss out on the opportunity, schedule a viewing today. Contact us for more information.

ⓘ 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: $469 · $39/mo
• Projected year-2 tax: $889 · $74/mo
• Expected delta: +$419/yr (+$35/mo · 89.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 64% 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: $16,827
• − Mortgage interest: −$6,722
• − Property taxes: −$469
• − Insurance: −$600
• − Repairs & maintenance: −$1,346
• − Management: −$1,346
• − Depreciation: −$3,491
• Taxable income: $2,853
• Est. tax owed @ 24.0%: −$685
• After-tax cash flow: $3,988/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: Caroline County Public Schools
• NCES district ID: 2400180
• Math proficiency: 13% ▼ -22.00%
• Reading proficiency: 29% ▼ -14.00%
• Median HH income: $55,076
• Composite: 19.16/100
• National rank: #8823
• State rank: #17 of 24 in MD

Livability — Federalsburg

• Score: 65/100
• State rank: #266
• US rank: #13461

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 6,227

Population outlook (Caroline County) Hauer SSP2

• Today (2025): 31,205 people
• By 2030: 30,204 · -3.2%
• By 2040: 27,866 · -10.7%
• By 2050: 25,342 · -18.8%
• By 2075: 20,554 · -34.1%
• By 2100: 17,415 · -44.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 25% Two or more races 6% Hispanic / Latino 3% Asian 2% Native American 2%
• Common ancestry: Romanian 2% Serbian 2% Lithuanian 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% French/Haitian/Cajun 1%

Political lean MEDSL · Caroline

• 2024 margin: Solid R (+38.0) · D 29.9% · R 67.9% · Other 2.2%
• 2008→2024 swing: -15.0pp toward R · 2008: -23.0pp · 2024: -38.0pp
• All cycles: 2024: R+38.0 2020: R+32.9 2016: R+39.5 2012: R+24.4 2008: R+23.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -2.22%
• Current HPI: 301.4384
• 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

+300.0% since first listed

14 events — show timeline

• 2026-03-26 Relisted — BRIGHT MLS
• 2026-03-11 Pending — BRIGHT MLS
• 2026-03-11 Contingent — BRIGHT MLS
• 2026-02-15 Price Changed $120,000 BRIGHT MLS
• 2026-01-04 Price Changed $140,000 BRIGHT MLS
• 2025-09-24 Listed $150,000 BRIGHT MLS
• 2024-07-18 Sold (MLS) $25,000 BRIGHT MLS
• 2024-06-21 Pending — BRIGHT MLS
• 2024-06-17 Relisted — BRIGHT MLS
• 2024-06-13 Pending — BRIGHT MLS
• 2024-06-13 Contingent — BRIGHT MLS
• 2024-05-31 Price Changed $24,999 BRIGHT MLS
• 2024-03-04 Listed $30,000 BRIGHT MLS
• 2024-02-26 Coming Soon $30,000 BRIGHT MLS

Property tax history

-2.3%/yr

Latest (2025): $469 · -19.2% YoY. Source: county tax records.