333 Pratt St · Luke, MD 21540

$79,900

3 bd · 1.0 ba · 1,982 sqft · SingleFamily public records · 15 Days on market

Built 1888 2,500 sqft lot Est $87k · 8% under

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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
• ARV discount +11.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.0/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

VERY NICE 3 BR HOME IN A CONVENIENT LOCATION. VERY NEAR PUBLIC BOAT LAUNCHES AND THE SAVAGE RIVER AND STATE FOREST. 30 MINUTES TO DEEP CREEK LAKE AND I-68. HOME FEATURES A CONVENIENT FLOOR PLAN WITH PLENTY OF STORAGE. 3 NICE SIZED BEDROOMS AND A FULL BATH. THERE IS A 1/4 BATH (TOILET ONLY) ON THE MAIN LEVEL. MAIN LEVEL LAUNDRY ROOM, WELL EQUIPPED KITCHEN, AND A LARGE FORMAL DINING ROOM JUST MAKES THE FLOW OF THIS HOME BUILT FOR FAMILY AND FRIENDS. THE BACK YARD HAS A GAZEBO AND IS WELL LANDSCAPED WITH A YARD AREA. ALL APPLIANCES AND FURNITURE CONVEY BUT IF THE FURNITURE IS NOT NEEDED IT WILL BE REMOVED PRIOR TO SETTLEMENT. BIG SCREEN TVS AND WALL MOUNT BRACKETS ARE INCLUDED. THIS IS A GREA

Key facts

• State forest
• Convenient location
• Public boat launches

Tags

• CONVENIENT LOCATION
• PUBLIC BOAT LAUNCHES
• STATE FOREST
• MAIN LEVEL LAUNDRY ROOM
• WELL EQUIPPED KITCHEN
• LARGE FORMAL DINING ROOM

Property features AI

Finance

• Other: Ownership: Fee simple

Exterior

• Parking: On-street parking
• Utilities: Public water; Public sewer; Hot water: Electric
• Home design: Detached property; Single entry level (main-level bedrooms listed)
• Construction: Aluminum siding; Metal roof; Stone foundation with crawl space; Year built reported by assessor
• Exterior features: Property is within city limits; No tidal water on the lot; Above-grade and below-grade structures present

Interior

• Kitchen: Microwave; Gas oven/range; Refrigerator; Dishwasher not listed
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level; 1 full bathroom total
• Heating & cooling: Radiator heating; Electric baseboard heating; Heating fuel: Electric and Natural Gas; Window air conditioning units (electric)
• Interior features: Furnished; Basement with drain and unfinished space; Accessibility features present
• Laundry & utility: Washer; Dryer (electric); Washer/Dryer stacked option

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads 59/100 on livability (#365 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+; Watch: housing C-, schools F, crime F.
• Allegany County Public Schools (other): math 15% / reading 30% proficiency, ranked #18 of 24 in MD (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 2 active listings in the ZIP; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($552 loan paydown + $2k appreciation (3.0% local appreciation)).
• Allegany County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; 45% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1888 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 9→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.54% ✓
• Cap rate: 13.68%
• Cash-on-cash: 26.38%
• DSCR: 2.17
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $87,208
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
333 Pratt St	0.00mi	3/1.5	1,982 (0%)	1mo	$88,000	$44	97
64 West Hampshire St	0.50mi	4/1.5 (+1)	2,013 (+2%)	12mo	$45,000	$22	57

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: 32.4%
• Equity multiple: 2.83×
• Total profit: $40,918
• Equity at exit: $35,926

10-year hold

• IRR: 32.6%
• Equity multiple: 5.55×
• Total profit: $101,751
• Equity at exit: $55,367

Cash invested: $22,372 (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 21540

• Active inventory: 2
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,231 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$28 /mo · $338/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $492

Break-even live

Break-even rent $608

Max offer price $79,900

Occupancy floor 55%

Sensitivity live

Price	-10% $537	-5% $514	+0% $492	+5% $469	+10% $447
Rent	-10% $395	-5% $443	+0% $492	+5% $540	+10% $589
Rate	-1.0pp $532	-0.5pp $512	base $492	+0.5pp $471	+1.0pp $450

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-04-29
   status Pending
2. 2026-04-14
   listed $79,900 Active
3. 2024-05-20
   soldstatus $55,000

ⓘ 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: $338 · $28/mo
• Projected year-2 tax: $605 · $50/mo
• Expected delta: +$266/yr (+$22/mo · 78.7%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 9 d/yr ≥94°F today · 23 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,768
• − Mortgage interest: −$4,476
• − Property taxes: −$338
• − Insurance: −$400
• − Repairs & maintenance: −$1,181
• − Management: −$1,181
• − Depreciation: −$2,324
• Taxable income: $4,867
• Est. tax owed @ 24.0%: −$1,168
• After-tax cash flow: $4,733/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: Allegany County Public Schools
• NCES district ID: 2400030
• Math proficiency: 15% ▼ -26.00%
• Reading proficiency: 30% ▼ -20.00%
• Median HH income: $39,760
• Composite: 18.95/100
• National rank: #8854
• State rank: #18 of 24 in MD

Livability — Luke

• Score: 59/100
• State rank: #365
• US rank: #19801

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Luke, MD
• City population: 93
• Population (ZIP): 93

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 68,778 people
• By 2030: 66,766 · -2.9%
• By 2040: 62,784 · -8.7%
• By 2050: 59,179 · -14.0%
• By 2075: 50,732 · -26.2%
• By 2100: 40,837 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (98%)
• Race & ethnicity: White 98% Black 1% Hispanic / Latino 1% Two or more races 1%
• Common ancestry: Romanian 3% Scotch-Irish 2% Lithuanian 1%
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+40.3) · D 28.9% · R 69.2% · Other 2.0%
• 2008→2024 swing: -14.4pp toward R · 2008: -25.9pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+38.3 2016: R+48.0 2012: R+32.9 2008: R+25.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+45.3% since first listed

3 events — show timeline

• 2026-04-29 Pending — BRIGHT MLS
• 2026-04-14 Listed $79,900 BRIGHT MLS
• 2024-05-20 Sold (Public Records) $55,000 Public Records

Property tax history

+3.0%/yr

Latest (2025): $338 · +2.9% YoY. Source: county tax records.