1 Meadowood

Darlington, MD 21918

$76,950B-

3 bd · 2.0 ba · 1,120 sqft · Built 2005 · Manufactured · Pending · 89 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,171/mo
• Mortgage (P&I): −$404
• Tax + insurance: −$128
• HOA: −$0
• Vac / Maint / Mgmt: −$246
• Net cashflow: $393/mo
• Annual: $4,719/yr
• Cap rate: 12.43%
• Cash-on-cash: 21.90%
• DSCR: 1.97
• 1% rule: 1.52%
• Cash to close: $21,546

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $77k.
• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $77k).
• It's been on market 89 days — a 6% lower offer ($72k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $72k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $532 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Location reads 66/100 on livability (#241 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+; Watch: crime C-, amenities F, commute F.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Conowingo Elementary (math 17% / reading 17%, grade F, #408 of 860 statewide, top 50%, 388 students, 45% FRL); Rising Sun Middle School (math 12% / reading 36%, grade F, #114 of 225 statewide, top 52%, 619 students, 38% FRL); Rising Sun High (math 50% / reading 72%, grade C+, #65 of 222 statewide, top 31%, 1,106 students, 33% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 50 active listings in the ZIP; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).
• 3 sale attempts since 15y 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.
• Cap rate 12.4% vs local median 2.7% in Darlington — 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.

Questions for listing agent

• It's been on market 89 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.