5611 Galestown Rd · Galestown, MD 19973

$119,000

3 bd · 2.0 ba · 1,716 sqft · SingleFamily public records · 268 Days on market

Built 1900 0.74 ac lot $69/sqft · 53% below area ↓ 10% since listing

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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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Livability +2.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE ADJUSTMENT. This property is located in the northeast section of Dorchester County, a short distance to Seaford for Delaware's no tax shopping and to Salisbury for a commuting drive of 23 miles. Galestown is a small village originally occupied by Nanticoke Indian tribes. Today's town folks live in homes surrounding the iconic Galestown Pond, which is visited by fishermen from all corners of the US, who enjoy landing large mouth bass, pickering and bluegill. The pond (aka lake) comprises 40 acres of mostly fresh water. There is a launching ramp for boating and other water activities. The house consists of 4 bedrooms, 2 full baths, living room, dining room and kitchen, plus an enclosed sun porch in front, and a 2 car detached garage with attached storage area. The house is in fair condition in need of some rehab/upgrades, as reflected in the purchase price The large side yard can be separated into a residential lot subject to well/septic and building permits. Contact Dorchester Co. Planning And Zoning for further information, The property is in critical area and replacing the septic could be paid through MD grant program. Call Dor Co. Health Dept (environmental services) This is is an estate sale offered in as is condition.

Key facts

• Galestown pond
• Enclosed sun porch
• 0.74 acre lot

Tags

• SHORT DISTANCE TO SEAFORD
• COMMUTING DRIVE OF 23 MILES
• GALESTOWN POND
• 40 ACRES OF MOSTLY FRESH WATER
• LAUNCHING RAMP FOR BOATING
• ENCLOSED SUN PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $606 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $119k).
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 51/100 on livability (#448 in MD) — a working-class tenant base; expect higher turnover. Watch: schools F, crime F, amenities 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: 1 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 $823 of loan paydown is wiped out by about $4k 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 $33k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 268 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 77% 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 $104,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 268 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.49% ✓
• Cap rate: 12.40%
• Cash-on-cash: 21.83%
• DSCR: 1.97
• GRM: 5.6

CMA / ARV

• ARV (median comp): $252,267
• List price: $119,000
• Delta: -52.83%
• Verdict: UNDERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5627 Galestown Reliance Rd	0.40mi	4/2.0 (+1)	1,937 (+13%)	2mo	$429,990	$222	53
5543 Galestown Newhart Ml	0.15mi	3/2.0	1,458 (-15%)	20mo	$260,000	$178	52

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: 14.5%
• Equity multiple: 1.58×
• Total profit: $19,328
• Equity at exit: $17,743

10-year hold

• IRR: 23.2%
• Equity multiple: 3.00×
• Total profit: $66,577
• Equity at exit: $10,289

Cash invested: $33,320 (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 19973

• Home prices YoY: -17.8%
• Active inventory: 1
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,774 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$121 /mo · $1,457/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $606

Break-even live

Break-even rent $1,006

Max offer price $119,000

Occupancy floor 61%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $119,000 Active 268 DOM
2. 2026-06-17
   days on market $119,000 Active 267 DOM
3. 2026-06-16
   days on market $119,000 Active 266 DOM
4. 2026-06-15
   days on market $119,000 Active 265 DOM
5. 2026-06-13
   days on market $119,000 Active 263 DOM
6. 2026-06-12
   days on market $119,000 Active 262 DOM
7. 2026-06-09
   days on market $119,000 Active 259 DOM
8. 2026-06-08
   days on market $119,000 Active 258 DOM
9. 2026-06-07
   days on market $119,000 Active 257 DOM
10. 2026-06-07
    days on market $119,000 Active 256 DOM
11. 2026-06-04
    days on market $119,000 Active 253 DOM
12. 2026-06-02
    days on market $119,000 Active 252 DOM
13. 2026-06-01
    days on market $119,000 Active 251 DOM
14. 2026-05-31
    days on market $119,000 Active 250 DOM
15. 2026-05-31
    days on market $119,000 Active 249 DOM
16. 2025-12-15
    price $119,000 1258-char remark

    Show marketing remark (1258 chars)

    PRICE ADJUSTMENT. This property is located in the northeast section of Dorchester County, a short distance to Seaford for Delaware's no tax shopping and to Salisbury for a commuting drive of 23 miles. Galestown is a small village originally occupied by Nanticoke Indian tribes. Today's town folks live in homes surrounding the iconic Galestown Pond, which is visited by fishermen from all corners of the US, who enjoy landing large mouth bass, pickering and bluegill. The pond (aka lake) comprises 40 acres of mostly fresh water. There is a launching ramp for boating and other water activities. The house consists of 4 bedrooms, 2 full baths, living room, dining room and kitchen, plus an enclosed sun porch in front, and a 2 car detached garage with attached storage area. The house is in fair condition in need of some rehab/upgrades, as reflected in the purchase price The large side yard can be separated into a residential lot subject to well/septic and building permits. Contact Dorchester Co. Planning And Zoning for further information, The property is in critical area and replacing the septic could be paid through MD grant program. Call Dor Co. Health Dept (environmental services) This is is an estate sale offered in as is condition.

17. 2025-09-23
    listed $132,000 Active 1258-char remark

    Show marketing remark (1258 chars)

    PRICE ADJUSTMENT. This property is located in the northeast section of Dorchester County, a short distance to Seaford for Delaware's no tax shopping and to Salisbury for a commuting drive of 23 miles. Galestown is a small village originally occupied by Nanticoke Indian tribes. Today's town folks live in homes surrounding the iconic Galestown Pond, which is visited by fishermen from all corners of the US, who enjoy landing large mouth bass, pickering and bluegill. The pond (aka lake) comprises 40 acres of mostly fresh water. There is a launching ramp for boating and other water activities. The house consists of 4 bedrooms, 2 full baths, living room, dining room and kitchen, plus an enclosed sun porch in front, and a 2 car detached garage with attached storage area. The house is in fair condition in need of some rehab/upgrades, as reflected in the purchase price The large side yard can be separated into a residential lot subject to well/septic and building permits. Contact Dorchester Co. Planning And Zoning for further information, The property is in critical area and replacing the septic could be paid through MD grant program. Call Dor Co. Health Dept (environmental services) This is is an estate sale offered in as is condition.

ⓘ 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: $1,457 · $121/mo
• Projected year-2 tax: $1,457 · $121/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 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 77% 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: $21,283
• − Mortgage interest: −$6,666
• − Property taxes: −$1,457
• − Insurance: −$595
• − Repairs & maintenance: −$1,703
• − Management: −$1,703
• − Depreciation: −$3,462
• Taxable income: $5,698
• Est. tax owed @ 24.0%: −$1,368
• After-tax cash flow: $5,905/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 — Galestown

• Score: 51/100
• State rank: #448
• US rank: #25395

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Galestown, MD
• Population (ZIP): 25,786

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 0.61)
• Race & ethnicity: White 58% Black 20% Two or more races 13% Hispanic / Latino 11%
• Hispanic origin (detail): Mexican 5% Puerto Rican 1% Dominican 2%
• Common ancestry: Hispanic 4% Romanian 3% Italian 2%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 85% English-only · Spanish 8% French/Haitian/Cajun 5% Vietnamese 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: ▼ -62.40%
• Current HPI: 288.5652
• 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

-9.8% since first listed

2 events — show timeline

• 2025-12-15 Price Changed $119,000 BRIGHT MLS
• 2025-09-23 Listed $132,000 BRIGHT MLS

Property tax history

+2.0%/yr

Latest (2025): $1,457 · +15.2% YoY. Source: county tax records.