317 Virginia Rd · Romancoke, MD 21666

$349,000

3 bd · 2.0 ba · 1,728 sqft · SingleFamily public records · 12 Days on market

Built 1974 0.50 ac lot Est $543k · 36% under $2/mo HOA

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Why this score? — see what drove the C+ 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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.2/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming 3 Bedroom/2 Full Bath Rancher in Water Privileged Community. Huge Beautiful Yard W/ Large Deck, Great for Cook Outs! Plenty of Room for Parking/Large Driveway; Beautiful Hardwood Floors; Close to Community Beach, Romancoke Pier, Kent Island Trail and Kentmoor Restaurant. Home is over 1700 Sq Ft on a Double Lot. Great for Entertaining.

Key facts

• 0.5 acre lot
• Built 1974
• Listed 12 days

Property features AI

Finance

• Other: Ownership: Fee simple
• HOA & community: HOA fee $25 annually

Exterior

• Parking: Driveway; On-street parking
• Utilities: Electric hot water; Septic system; Well water; Electric cooling fuel; Electric heating fuel
• Home design: Detached property; Estimated year built
• Construction: Vinyl siding; Crawl space foundation; Above grade and below grade structures noted
• Exterior features: Front yard; Rear yard; Not in a federal flood zone

Interior

• Kitchen: Built-in microwave; Dishwasher; Disposal; Stove; Refrigerator
• Bedrooms: 3 bedrooms on main level
• Flooring: Hardwood; Carpet; Wood floors
• Bathrooms: 2 full bathrooms on main level; 2 full bathrooms total
• Heating & cooling: Baseboard electric heat; Wood-burning stove; Ceiling fan(s); Window unit(s)
• Interior features: Dining area; Ceiling fan(s); Carpet; Wood floors; Wood stove; Has fireplace (1)
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $349k.

Deal economics

• At list price, monthly cash flow is $580 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $349k).
• Cap rate 8.3% vs local median 3.7% in Romancoke — 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.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Queen Anne'S County Public Schools (rural): math 22% / reading 39% proficiency, ranked #7 of 24 in MD (top 29%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kent Island High School (math 63% / reading 68%, grade B, #54 of 222 statewide, top 24%, 1,164 students, 29% FRL).
• Zoned-school proficiency averages 66% at this address vs 30% district-wide (+35 pts) — the actual schools serving this property are materially stronger than the Queen Anne'S County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 136 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 320 units permitted in Queen Anne's County in 2024 (56 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y 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 $285k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 77% 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.

Recommended offer $349,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.02% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $542,592
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
713 Bay Dr	0.17mi	3/2.0	1,784 (+3%)	9mo	$560,000	$314	79
325 South Carolina Rd	0.24mi	3/3.0	1,608 (-7%)	8mo	$477,000	$297	67
116 Tennessee Rd	0.47mi	3/2.0	1,654 (-4%)	15mo	$567,000	$343	58
329 Utah Rd	0.11mi	4/2.5 (+1)	1,896 (+10%)	21mo	$535,000	$282	54
118 Virginia Rd	0.42mi	3/2.5	1,592 (-8%)	15mo	$485,000	$305	53
109 South Carolina Rd	0.52mi	3/1.5	1,624 (-6%)	18mo	$455,000	$280	49
123 New Jersey Rd	0.55mi	3/2.0	1,519 (-12%)	9mo	$480,000	$316	47
127 Wicomico Rd	0.74mi	3/2.0	1,700 (-2%)	19mo	$539,900	$318	47
116 N Lake Dr	0.68mi	4/3.0 (+1)	1,718 (-1%)	19mo	$675,000	$393	42
8004 Romancoke Rd	0.64mi	4/2.0 (+1)	1,944 (+12%)	17mo	$475,000	$244	30

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-19,675
• Equity at exit: $52,037

10-year hold

• IRR: 4.2%
• Equity multiple: 1.31×
• Total profit: $30,189
• Equity at exit: $30,175

Cash invested: $97,720 (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 21666

• Active inventory: 136
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $3,554 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$250 /mo · $3,001/yr
• Insurance: −$145
• HOA: −$2
• Vacancy / Maint / Mgmt: −$746
• Net cashflow: $580

Break-even live

Break-even rent $2,820

Max offer price $349,000

Occupancy floor 79%

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
105 King George Ct Stevensville, MD	4.0	3.0	1996	$4,400	$2.20	16d	1	0.99mi
301 Wicomico Rd Stevensville, MD	3.0	1.0	1052	$2,400	$2.28	4d	1	1.00mi
211 Queen Anne Rd Stevensville, MD	3.0	2.5	1967	$3,500	$1.78	23d	1	1.36mi

HOA detail

• Monthly dues: $2 · $24/yr
• Likely covers: water

Listing history 8 events

1. 2026-06-18
   status $349,000 Pending 12 DOM
2. 2026-06-17
   days on market $349,000 Active 12 DOM
3. 2026-06-16
   days on market $349,000 Active 11 DOM
4. 2026-06-15
   days on market $349,000 Active 10 DOM
5. 2026-06-13
   days on market $349,000 Active 8 DOM
6. 2026-06-09
   days on market $349,000 Active 4 DOM
7. 2026-06-08
   days on market $349,000 Active 3 DOM
8. 2026-06-07
   listed $349,000 Active 2 DOM

ⓘ 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: $3,001 · $250/mo
• Projected year-2 tax: $3,403 · $284/mo
• Expected delta: +$402/yr (+$33/mo · 13.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 9% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 15 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 77% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $42,648
• − Mortgage interest: −$19,549
• − Property taxes: −$3,001
• − Insurance: −$1,745
• − Repairs & maintenance: −$3,412
• − Management: −$3,412
• − HOA: −$24
• − Depreciation: −$10,153
• Taxable income: $1,352
• Est. tax owed @ 24.0%: −$324
• After-tax cash flow: $6,635/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: Queen Anne'S County Public Schools
• NCES district ID: 2400540
• Math proficiency: 22% ▼ -30.00%
• Reading proficiency: 39% ▼ -22.00%
• Median HH income: $84,577
• Composite: 29.86/100
• National rank: #6406
• State rank: #7 of 24 in MD

Livability — Romancoke

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Romancoke, MD
• Population (ZIP): 14,205

Population outlook (Queen Anne's County) Hauer SSP2

• Today (2025): 51,149 people
• By 2030: 51,979 · +1.6%
• By 2040: 52,728 · +3.1%
• By 2050: 51,828 · +1.3%
• By 2075: 50,169 · -1.9%
• By 2100: 44,442 · -13.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (88%)
• Race & ethnicity: White 88% Two or more races 5% Black 4% Hispanic / Latino 2% Asian 2%
• Common ancestry: Romanian 6% Slovak 2% Subsaharan African 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 97% English-only · Spanish 1%

Political lean MEDSL · Queen Anne's

• 2024 margin: Strong R (+27.8) · D 35.1% · R 62.9% · Other 2.1%
• 2008→2024 swing: -0.7pp no change · 2008: -27.1pp · 2024: -27.8pp
• All cycles: 2024: R+27.8 2020: R+26.5 2016: R+36.1 2012: R+30.1 2008: R+27.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -157.11%
• Current HPI: 239.1989
• 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

+417.8% since first listed

22 events — show timeline

• 2026-06-05 Listed $349,000 BRIGHT MLS
• 2022-04-19 Sold (Public Records) $285,000 Public Records
• 2022-04-13 Sold (MLS) $285,000 BRIGHT MLS
• 2022-03-13 Pending — BRIGHT MLS
• 2022-03-10 Price Changed $295,000 BRIGHT MLS
• 2022-03-08 Listed $325,000 BRIGHT MLS
• 2015-09-24 Sold (MLS) $234,500 BRIGHT MLS
• 2015-09-24 Sold (MLS) $234,500 MRIS
• 2015-08-27 Pending — MRIS
• 2015-07-06 Listed $234,500 MRIS
• 2015-06-02 Delisted — MRIS
• 2015-06-02 Listing Removed — BRIGHT MLS
• 2015-05-05 Price Changed — MRIS
• 2015-03-10 Price Changed — MRIS
• 2014-07-10 Price Changed — MRIS
• 2014-05-19 Relisted — MRIS
• 2014-05-10 Delisted — MRIS
• 2014-05-08 Listed — MRIS
• 2014-05-08 Listed $239,500 BRIGHT MLS
• 2000-09-27 Sold (Public Records) $122,000 Public Records
• 1993-06-22 Sold (Public Records) $106,000 Public Records
• 1984-06-29 Sold (Public Records) $67,400 Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,001 · +7.9% YoY. Source: county tax records.