21172 Wyoming Ave

Tolchester, MD 21620

$200,000C-

4 bd · 3.0 ba · 2,920 sqft · Built 1972 · SingleFamily · Active · 13 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,150/mo
• Mortgage (P&I): −$1,049
• Tax + insurance: −$267
• HOA: −$0
• Vac / Maint / Mgmt: −$451
• Net cashflow: $382/mo
• Annual: $4,584/yr
• Cap rate: 8.58%
• Cash-on-cash: 8.19%
• DSCR: 1.36
• 1% rule: 1.07%
• Cash to close: $56,000

Investor read

• This is a 4-bed/3.0-bath single-family listed at $200k.
• At list price, monthly cash flow is $382 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#368 in MD) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+; Watch: crime C-, cost of living D, amenities F.
• Kent County Public Schools (rural): math 10% / reading 28% proficiency, ranked #20 of 24 in MD (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Kent County High (math 27% / reading 57%, grade F, #126 of 222 statewide, top 57%, 531 students, 54% FRL).
• Zoned-school proficiency averages 42% at this address vs 19% district-wide (+23 pts) — the actual schools serving this property are materially stronger than the Kent County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 124 active listings in the ZIP; solid renter incomes; 50 units permitted in Kent County in 2024 (0 in 5+ unit buildings).
• Kent County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 7 sale attempts since 30y 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.
• Climate carrying-cost: major wind risk, 69% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 32% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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.