618 & 620 Cross St · Cambridge, MD 21613

$54,900

3 bd · 1.0 ba · 732 sqft · SingleFamily public records · 8 Days on market

Built 1930 6,400 sqft lot Est $96k · 43% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Investment opportunity! 3 bedroom, 1 bath home in need of major renovation or possible tear down. Sale includes adjoining 620 Cross Street, a separate cleared buildable lot offering additional possibilities. Rehab the existing home, build a second home next door or enjoy the extra space for a larger yard. Great opportunity for investors, builders or anyone looking for their next project. * Enter at your own risk, portions of the flooring are rotten. Property is being sold strictly as-is. Buyer responsible for obtaining any required permits for renovation, improvements or removal of existing structure.

Key facts

• 6,400 sq ft lot
• Built 1930
• Listed 7 days

Property features AI

Finance

• Other: Fee simple ownership; Includes an additional parcel: 620 Cross Street (separate buildable lot)

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Detached property; Single-story entry with upper-level bedrooms
• Construction: Stick-built construction; Pillar/post/pier foundation; Storm windows
• Exterior features: Rear yard; Side yards; Porch(es)

Interior

• Kitchen: Country-style kitchen
• Bedrooms: One bedroom on the main level; Two bedrooms on the upper level
• Bathrooms: One full bathroom (on the main level)
• Heating & cooling: Electric baseboard heating; Electric hot water
• Interior features: Storm doors; Country-style kitchen; Dining area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Cap rate 28.6% vs local median 4.2% in Cambridge — 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 (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 292 active listings in the ZIP; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y ago; this cycle's ask is 223% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $15k; list at $55k implies a 266% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 73% 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 $54,900

Questions for the listing agent

1. Built in 1930 — 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 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?
4. 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?
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: 3.18% ✓
• Cap rate: 28.60%
• Cash-on-cash: 79.66%
• DSCR: 4.54
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $95,892
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
622 Washington St	0.23mi	3/1.0	768 (+5%)	3mo	$114,000	$148	78
814 Center St	0.28mi	2/1.0 (-1)	696 (-5%)	1mo	$58,300	$84	73
810 Center St	0.27mi	2/1.0 (-1)	696 (-5%)	2mo	$67,840	$97	73
909 Pine St	0.34mi	2/1.0 (-1)	672 (-8%)	2mo	$64,900	$97	64
810 Washington St	0.32mi	2/1.0 (-1)	672 (-8%)	4mo	$89,000	$132	64
1105 Holland Ave	0.58mi	2/1.0 (-1)	752 (+3%)	1mo	$190,000	$253	63
818 Washington St	0.33mi	2/1.0 (-1)	672 (-8%)	7mo	$80,000	$119	60
601 Moores Ave	0.34mi	2/1.0 (-1)	648 (-12%)	2mo	$59,500	$92	58
605 Robbins St	0.31mi	2/1.0 (-1)	648 (-12%)	5mo	$85,000	$131	57
427 Camper St	0.26mi	2/1.0 (-1)	624 (-15%)	11mo	$77,000	$123	49
411 Linden Ave	0.40mi	3/2.5	816 (+12%)	14mo	$220,000	$270	45
507 Burton Ave	0.67mi	2/1.0 (-1)	816 (+12%)	10mo	$200,000	$245	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: 79.8%
• Equity multiple: 4.65×
• Total profit: $56,112
• Equity at exit: $8,186

10-year hold

• IRR: 83.3%
• Equity multiple: 9.63×
• Total profit: $132,610
• Equity at exit: $4,747

Cash invested: $15,372 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 292
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,748 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$50 /mo · $595/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $1,020

Break-even live

Break-even rent $456

Max offer price $54,900

Occupancy floor 37%

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $54,900 Active 8 DOM
2. 2026-06-17
   days on market $54,900 Active 7 DOM
3. 2026-06-16
   days on market $54,900 Active 6 DOM
4. 2026-06-15
   days on market $54,900 Active 5 DOM
5. 2026-06-13
   days on market $54,900 Active 3 DOM
6. 2026-06-12
   status $54,900 Active 2 DOM
7. 2026-06-09
   days on market $54,900 Coming Soon 2 DOM
8. 2026-06-07
   remarks 608-char remark
9. 2026-06-07
   listed $54,900 Coming Soon 1 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: $595 · $50/mo
• Projected year-2 tax: $597 · $50/mo
• Expected delta: +$2/yr ($0/mo · 0.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 73% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,975
• − Mortgage interest: −$3,075
• − Property taxes: −$595
• − Insurance: −$274
• − Repairs & maintenance: −$1,678
• − Management: −$1,678
• − Depreciation: −$1,597
• Taxable income: $12,077
• Est. tax owed @ 24.0%: −$2,898
• After-tax cash flow: $9,347/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• 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

+222.9% since first listed

7 events — show timeline

• 2026-06-07 Coming Soon $54,900 BRIGHT MLS
• 2004-06-30 Sold (Public Records) $15,000 Public Records
• 2003-12-05 Sold (MLS) $15,000 MRIS
• 2003-10-28 Delisted — MRIS
• 2003-10-24 Listed $17,000 MRIS
• 2003-03-27 Delisted — MRIS
• 2002-04-08 Listed — MRIS

Property tax history

+4.3%/yr

Latest (2025): $595 · +15.2% YoY. Source: county tax records.