239 Hampshire St

Bloomington, MD 21523

$99,900D+

2 bd · 1.0 ba · 950 sqft · Built 1955 · SingleFamily · Active · 46 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $888/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$98
• HOA: −$0
• Vac / Maint / Mgmt: −$186
• Net cashflow: $80/mo
• Annual: $958/yr
• Cap rate: 7.25%
• Cash-on-cash: 3.42%
• DSCR: 1.15
• 1% rule: 0.89%
• Cash to close: $27,972

Investor read

• This is a 2-bed/1.0-bath single-family listed at $100k.
• At list price, monthly cash flow is $80 ($958/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $89k (11.1% below list).
• It's been on market 46 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $89k (11.1% below list) — sets the bar for 1% rule.
• In year one you build about $4k of equity ($691 loan paydown + $4k appreciation (3.7% local appreciation)).
• Location reads 57/100 on livability (#402 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, employment F.
• Garrett County Public Schools (rural): math 17% / reading 30% proficiency, ranked #16 of 24 in MD (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Broad Ford Elementary (math 13% / reading 16%, grade F, #477 of 860 statewide, top 59%, 559 students, 57% FRL); Southern Middle School (math 13% / reading 33%, grade F, #122 of 225 statewide, top 54%, 434 students, 47% FRL); Southern Garrett High School (math 32% / reading 47%, grade F, #136 of 222 statewide, top 61%, 624 students, 44% FRL).
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 3 active listings in the ZIP; 122 units permitted in Garrett County in 2024 (0 in 5+ unit buildings).
• Garrett County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 22y 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.
• Current owner paid $85k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.
• At projected returns (3.7% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 46 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
• Built in 1955 — 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.
• 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?
• 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?
• 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.