207 W Sunset Ave W

Greensboro, MD 21639

$195,000C

6 bd · 1.0 ba · 2,148 sqft · Built 1914 · SingleFamily · Pending · 26 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,160/mo
• Mortgage (P&I): −$1,023
• Tax + insurance: −$434
• HOA: −$0
• Vac / Maint / Mgmt: −$454
• Net cashflow: $250/mo
• Annual: $2,995/yr
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• 1% rule: 1.11%
• Cash to close: $54,600

Investor read

• This is a 6-bed/1.0-bath single-family listed at $195k.
• At list price, monthly cash flow is $250 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• It's been on market 26 days — a 2% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $192k (1.5% below list) — sets the bar for market timing.
• In year one you build about $12k of equity ($1k loan paydown + $11k appreciation (5.4% local appreciation)).
• Location reads 68/100 on livability (#202 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment F.
• Caroline County Public Schools (rural): math 13% / reading 29% proficiency, ranked #17 of 24 in MD (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: North Caroline High School (math 39% / reading 61%, grade D+, #106 of 222 statewide, top 48%, 1,226 students, 59% FRL).
• Zoned-school proficiency averages 50% at this address vs 21% district-wide (+29 pts) — the actual schools serving this property are materially stronger than the Caroline County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 40 active listings in the ZIP; 59 units permitted in Caroline County in 2024 (0 in 5+ unit buildings).
• Caroline County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 6 sale attempts since 18y 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 $95k; list at $195k implies a 105% gain — meaningful room to come down on a strong offer.
• At projected returns (5.4% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• Built in 1914 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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.