103 Chambers St · Preston, MD 21655

$82,500

3 bd · 2.0 ba · 1,488 sqft · SingleFamily public records · 185 Days on market

Built 1900 0.33 ac lot $55/sqft · 70% 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
• Appreciation +9.8/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

This Colonial home features timeless architecture and thoughtful design. The property offers solid construction and classic appeal, making it an excellent opportunity for discerning buyers. This distinctive property presents an outstanding opportunity for transformation and value creation. The established neighborhood setting combines small-town charm with practical accessibility to essential services.

Key facts

• Solid construction
• Classic appeal
• 0.33 acre lot

Tags

• TIMELESS ARCHITECTURE
• SOLID CONSTRUCTION
• CLASSIC APPEAL
• ESTABLISHED NEIGHBORHOOD
• PRACTICAL ACCESSIBILITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $909 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $73k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.5% vs local median 4.5% in Preston — 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 66/100 on livability (#245 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living B+; Watch: schools C-, crime 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: 36 active listings in the ZIP; 59 units permitted in Caroline County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $8k of equity ($570 loan paydown + $8k appreciation (9.6% local appreciation)).
• Caroline County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (9.6% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$39k 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 ($73k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 29y ago; this cycle's ask has dropped $52k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; 27% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 59% 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 $72,600 (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 1900 — 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. 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?
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: 2.37% ✓
• Cap rate: 19.51%
• Cash-on-cash: 47.20%
• DSCR: 3.10
• GRM: 3.5

CMA / ARV

• ARV (median comp): $272,966
• List price: $82,500
• Delta: -69.78%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
116 Maple Ave	0.06mi	2/1.5 (-1)	1,458 (-2%)	9mo	$238,000	$163	79
3590 Choptank Rd	0.45mi	3/2.0	1,476 (-1%)	10mo	$355,000	$241	69
221 Apple Ln	0.41mi	4/2.0 (+1)	1,700 (+14%)	0mo	$355,000	$209	52
3622 Choptank Rd	0.38mi	2/1.5 (-1)	1,700 (+14%)	6mo	$295,900	$174	47
3501 Linchester Rd	0.74mi	3/2.0	1,366 (-8%)	19mo	$280,000	$205	36

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

Projected returns pro-forma

9.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 60.7%
• Equity multiple: 5.35×
• Total profit: $100,513
• Equity at exit: $71,817

10-year hold

• IRR: 54.6%
• Equity multiple: 11.82×
• Total profit: $250,052
• Equity at exit: $152,284

Cash invested: $23,100 (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 21655

• Home prices YoY: 3.1%
• Active inventory: 36
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,958 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$171 /mo · $2,054/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$411
• Net cashflow: $909

Break-even live

Break-even rent $808

Max offer price $82,500

Occupancy floor 49%

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: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $82,500 Active 185 DOM
2. 2026-06-17
   days on market $82,500 Active 184 DOM
3. 2026-06-16
   days on market $82,500 Active 183 DOM
4. 2026-06-15
   days on market $82,500 Active 182 DOM
5. 2026-06-13
   days on market $82,500 Active 180 DOM
6. 2026-06-12
   days on market $82,500 Active 179 DOM
7. 2026-06-09
   days on market $82,500 Active 176 DOM
8. 2026-06-08
   days on market $82,500 Active 175 DOM
9. 2026-06-07
   days on market $82,500 Active 174 DOM
10. 2026-06-07
    days on market $82,500 Active 173 DOM
11. 2026-06-04
    days on market $82,500 Active 170 DOM
12. 2026-06-02
    days on market $82,500 Active 169 DOM
13. 2026-06-01
    days on market $82,500 Active 168 DOM
14. 2026-05-31
    days on market $82,500 Active 167 DOM
15. 2026-05-31
    days on market $82,500 Active 166 DOM
16. 2026-04-25
    price $89,900 405-char remark

    Show marketing remark (405 chars)

    This Colonial home features timeless architecture and thoughtful design. The property offers solid construction and classic appeal, making it an excellent opportunity for discerning buyers. This distinctive property presents an outstanding opportunity for transformation and value creation. The established neighborhood setting combines small-town charm with practical accessibility to essential services.

17. 2026-03-26
    price $99,900 405-char remark

    Show marketing remark (405 chars)

    This Colonial home features timeless architecture and thoughtful design. The property offers solid construction and classic appeal, making it an excellent opportunity for discerning buyers. This distinctive property presents an outstanding opportunity for transformation and value creation. The established neighborhood setting combines small-town charm with practical accessibility to essential services.

18. 2026-02-17
    price $115,000 405-char remark

    Show marketing remark (405 chars)

    This Colonial home features timeless architecture and thoughtful design. The property offers solid construction and classic appeal, making it an excellent opportunity for discerning buyers. This distinctive property presents an outstanding opportunity for transformation and value creation. The established neighborhood setting combines small-town charm with practical accessibility to essential services.

19. 2026-01-16
    price $125,000 405-char remark

    Show marketing remark (405 chars)

    This Colonial home features timeless architecture and thoughtful design. The property offers solid construction and classic appeal, making it an excellent opportunity for discerning buyers. This distinctive property presents an outstanding opportunity for transformation and value creation. The established neighborhood setting combines small-town charm with practical accessibility to essential services.

20. 2025-12-15
    listed $135,000 Active 405-char remark

    Show marketing remark (405 chars)

    This Colonial home features timeless architecture and thoughtful design. The property offers solid construction and classic appeal, making it an excellent opportunity for discerning buyers. This distinctive property presents an outstanding opportunity for transformation and value creation. The established neighborhood setting combines small-town charm with practical accessibility to essential services.

21. 1999-09-22
    soldstatus $65,000
22. 1999-09-17
    soldstatus $65,000
23. 1999-08-27
    historical
24. 1999-05-13
    listed $67,500
25. 1998-06-05
    historical
26. 1997-06-05
    listed

ⓘ 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: $2,054 · $171/mo
• Projected year-2 tax: $2,054 · $171/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 59% 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: $23,494
• − Mortgage interest: −$4,621
• − Property taxes: −$2,054
• − Insurance: −$412
• − Repairs & maintenance: −$1,880
• − Management: −$1,880
• − Depreciation: −$2,400
• Taxable income: $10,248
• Est. tax owed @ 24.0%: −$2,459
• After-tax cash flow: $8,443/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 — Preston

• Score: 66/100
• State rank: #245
• US rank: #12172

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Preston, MD
• Population (ZIP): 4,995

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: Predominantly White (79%)
• Race & ethnicity: White 79% Black 10% Two or more races 7% Hispanic / Latino 2%
• Common ancestry: Slovak 2% Italian 1% Romanian 1%
• Foreign-born: 1%
• Languages at home: 98% English-only · Other Indo-European 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: ▲ 9.58%
• Current HPI: 319.9345
• 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

+33.2% since first listed

11 events — show timeline

• 2026-04-25 Price Changed $89,900 BRIGHT MLS
• 2026-03-26 Price Changed $99,900 BRIGHT MLS
• 2026-02-17 Price Changed $115,000 BRIGHT MLS
• 2026-01-16 Price Changed $125,000 BRIGHT MLS
• 2025-12-15 Listed $135,000 BRIGHT MLS
• 1999-09-22 Sold (Public Records) $65,000 Public Records
• 1999-09-17 Sold (MLS) $65,000 MRIS
• 1999-08-27 Delisted — MRIS
• 1999-05-13 Listed $67,500 MRIS
• 1998-06-05 Delisted — MRIS
• 1997-06-05 Listed — MRIS

Property tax history

+4.1%/yr

Latest (2025): $2,054 · +5.1% YoY. Source: county tax records.