132 Hobbs St · Greensboro, MD 21639

$265,790

2 bd · 2.0 ba · 1,059 sqft · Land · 62 Days on market

Built 2025 9,007 sqft lot $55/mo HOA · 3% of rent

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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).

• Cash flow +8.2/30.0
• Appreciation +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.4/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Schools +1.9/10.0

Listing remarks MLS

Terrific wooded lot in Choptank Pines, no HOA, Property has a current perc for 3 bedroom mound system. House is located on Poplar not Drapers Mill Road. Private location. Build your dream home in the woods.

Key facts

• Granite countertops
• Spacious living room
• 9,007 sq ft lot

Tags

• WELCOMING FRONT PORCH
• SPACIOUS LIVING ROOM
• MODERN GRAY CABINETRY
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• SPACIOUS PENINSULA ISLAND

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath land listed at $266k.

Deal economics

• At list price, monthly cash flow is $-247 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $230k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (21.7% below list).
• Recommended offer: $208k (21.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 68/100 on livability (#202 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment 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.
• Zoned schools: Greensboro Elementary School (math 9% / reading 14%, grade F, #567 of 860 statewide, top 67%, 785 students, 81% FRL); Lockerman Middle School (math 6% / reading 30%, grade F, #165 of 225 statewide, top 75%, 866 students, 66% FRL); North Caroline High School (math 39% / reading 61%, grade D+, #106 of 222 statewide, top 48%, 1,226 students, 59% FRL) — zoned schools average 69% FRL vs 48% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 42 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 59 units permitted in Caroline County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($2k loan paydown + $14k appreciation (5.4% local appreciation)).
• Caroline County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($250k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $208,184 (21.7% 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. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 5.18%
• Cash-on-cash: -3.99%
• DSCR: 0.82
• GRM: 10.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

5.43% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 10.7%
• Equity multiple: 1.70×
• Total profit: $52,086
• Equity at exit: $157,536

10-year hold

• IRR: 11.9%
• Equity multiple: 3.26×
• Total profit: $168,355
• Equity at exit: $277,784

Cash invested: $74,421 (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 21639

• Home prices YoY: 1.7%
• Active inventory: 42
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,082 medium
• Mortgage (P&I): −$1,394
• Tax est. 1.5%: −$332 /mo · $3,987/yr
• Insurance: −$111
• HOA: −$55
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-247

Break-even live

Break-even rent $2,395

Max offer price $230,025

Occupancy floor —

Sensitivity live

Price	-10% $-63	-5% $-155	+0% $-247	+5% $-339	+10% $-431
Rent	-10% $-412	-5% $-329	+0% $-247	+5% $-165	+10% $-83
Rate	-1.0pp $-113	-0.5pp $-180	base $-247	+0.5pp $-316	+1.0pp $-386

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: $66,448
• Closing costs: $7,974
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
102 Sycamore Ln Greensboro, MD	3.0	2.0	1182	$2,200	$1.86	45d	1	0.05mi
101 W Sunset Ave Greensboro, MD	1.0	1.0	738	$1,150	$1.56	25d	1	0.61mi

HOA detail

• Monthly dues: $55 · $660/yr

Listing history 11 events

1. 2026-02-03
   status Pending
2. 2026-01-13
   price $265,790
3. 2025-12-23
   status Active
4. 2025-12-22
   status Pending
5. 2025-12-02
   listed $268,490 Active
6. 2025-02-11
   soldstatus $1,120,000
7. 2020-06-17
   soldstatus $35,000 Closed 206-char remark

   Show marketing remark (206 chars)

   Terrific wooded lot in Choptank Pines, no HOA, Property has a current perc for 3 bedroom mound system. House is located on Poplar not Drapers Mill Road. Private location. Build your dream home in the woods.

8. 2020-05-15
   status Pending 206-char remark

   Show marketing remark (206 chars)

   Terrific wooded lot in Choptank Pines, no HOA, Property has a current perc for 3 bedroom mound system. House is located on Poplar not Drapers Mill Road. Private location. Build your dream home in the woods.

9. 2019-07-20
   listed $37,000 Active 206-char remark

   Show marketing remark (206 chars)

   Terrific wooded lot in Choptank Pines, no HOA, Property has a current perc for 3 bedroom mound system. House is located on Poplar not Drapers Mill Road. Private location. Build your dream home in the woods.

10. 2003-04-17
    historical
11. 2002-12-13
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $24,982
• − Mortgage interest: −$14,888
• − Property taxes: −$3,987
• − Insurance: −$1,329
• − Repairs & maintenance: −$1,999
• − Management: −$1,999
• − HOA: −$660
• − Depreciation: −$7,732
• Taxable loss: −$7,611
• Est. tax savings @ 24.0%: +$1,827
• After-tax cash flow: $-1,139/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 — Greensboro

• Score: 68/100
• State rank: #202
• US rank: #9657

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greensboro, MD
• Population (ZIP): 4,621

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 19% Two or more races 11% Black 9% Native American 4%
• Hispanic origin (detail): Mexican 4% Puerto Rican 2%
• Common ancestry: Lithuanian 5% Slovak 3% Iranian 2%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Spanish 15% 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: ▲ 5.43%
• Current HPI: 321.0192
• 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

+618.4% since first listed

11 events — show timeline

• 2026-02-03 Pending — BRIGHT MLS
• 2026-01-13 Price Changed $265,790 BRIGHT MLS
• 2025-12-23 Relisted — BRIGHT MLS
• 2025-12-22 Pending — BRIGHT MLS
• 2025-12-02 Listed $268,490 BRIGHT MLS
• 2025-02-11 Sold (Public Records) $1,120,000 Public Records
• 2020-06-17 Sold (MLS) $35,000 BRIGHT MLS
• 2020-05-15 Pending — BRIGHT MLS
• 2019-07-20 Listed $37,000 BRIGHT MLS
• 2003-04-17 Delisted — MRIS
• 2002-12-13 Listed — MRIS