2 W Main St · Crisfield, MD 21817

$150,000

5 bd · 2.5 ba · 2,336 sqft · SingleFamily · 471 Days on market

Built 1950 8,580 sqft lot $64/sqft · at area comps Est $157k · at est.

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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 +21.7/30.0
• Appreciation +10.0/10.0
• ARV discount +9.6/15.0
• DSCR +6.9/10.0
• 1% rule +4.3/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks MLS

This home has lots of potential. All the early century charm of the 1940's and 50's with high ceilings, decorative ceiling tiles, large baseboard trim, and hand-crafted stair railing, downstairs has spacious Living, kitchen and dining, lots of bonus space. With the right vision this home can be the bright and shining star of the neighborhood. Potential for a "mother-in-law suite" or Apartment.

Key facts

• 8,580 sq ft lot
• 2 garage spots
• Built 1950

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $-197 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (6.8% below list).
• Recommended offer: $115k (23.2% below list) — sets the bar for cash-flow.
• Cap rate 8.1% vs local median 1.6% in Crisfield — 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 68/100 on livability (#199 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: amenities F, commute F, employment F.
• Somerset County Public Schools (town): math 12% / reading 23% proficiency, ranked #22 of 24 in MD (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Somerset 6/7 Intermediate School (math 8% / reading 26%, grade F, #170 of 225 statewide, top 77%, 396 students, 73% FRL).
• Market conditions: 93 active listings in the ZIP; 49 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Somerset County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 471 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $115,183 (23.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 471 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 8.13%
• Cash-on-cash: 6.56%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (median comp): $157,254
• List price: $150,000
• Delta: -4.61%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
243 N Somerset Ave	0.51mi	4/2.0 (-1)	2,364 (+1%)	7mo	$70,000	$30	61
26 Cove St	0.18mi	4/2.0 (-1)	2,271 (-3%)	23mo	$165,000	$73	61
120 N Somerset Ave	0.16mi	4/1.5 (-1)	2,080 (-11%)	13mo	$240,000	$115	54
245 N Somerset Ave	0.52mi	4/1.0 (-1)	2,450 (+5%)	3mo	$60,000	$24	54
20 Elzie Ln	0.29mi	4/3.0 (-1)	2,080 (-11%)	11mo	$220,000	$106	52
26300 Stouty Sterling Rd	0.59mi	5/3.0	2,067 (-12%)	15mo	$252,000	$122	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 2.65×
• Total profit: $69,325
• Equity at exit: $135,132

10-year hold

• IRR: 18.6%
• Equity multiple: 6.10×
• Total profit: $214,388
• Equity at exit: $291,417

Cash invested: $42,000 (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 21817

• Home prices YoY: 7.3%
• Active inventory: 93
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,398 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$26 /mo · $311/yr
• Insurance: −$62
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$294
• Net cashflow: $-197

Break-even live

Break-even rent $1,648

Max offer price $115,183

Occupancy floor —

Sensitivity live

Price	-10% $-112	-5% $-155	+0% $-197	+5% $-410	+10% $-462
Rent	-10% $-308	-5% $-252	+0% $-197	+5% $-142	+10% $-87
Rate	-1.0pp $-122	-0.5pp $-159	base $-197	+0.5pp $-236	+1.0pp $-276

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-21
   days on market $150,000 Active 471 DOM
2. 2026-06-18
   days on market $150,000 Active 468 DOM
3. 2026-06-17
   days on market $150,000 Active 467 DOM
4. 2026-06-16
   days on market $150,000 Active 466 DOM
5. 2026-06-15
   days on market $150,000 Active 465 DOM
6. 2026-06-14
   days on market $150,000 Active 463 DOM
7. 2026-06-13
   days on market $150,000 Active 462 DOM
8. 2026-06-10
   days on market $150,000 Active 460 DOM
9. 2026-06-09
   days on market $150,000 Active 459 DOM
10. 2026-06-08
    days on market $150,000 Active 458 DOM
11. 2026-06-07
    days on market $150,000 Active 457 DOM
12. 2026-06-02
    days on market $150,000 Active 452 DOM
13. 2026-06-01
    days on market $150,000 Active 451 DOM
14. 2026-05-31
    days on market $150,000 Active 450 DOM
15. 2026-05-30
    days on market $150,000 Active 449 DOM
16. 2026-03-06
    status Active 406-char remark

    Show marketing remark (406 chars)

    This home has lots of potential. All the early century charm of the 1940's and 50's with high ceilings, decorative ceiling tiles, large baseboard trim, and hand-crafted stair railing, downstairs has spacious Living, kitchen and dining, lots of bonus space. With the right vision this home can be the bright and shining star of the neighborhood. Potential for a "mother-in-law suite" or Apartment.

17. 2026-02-21
    historical 406-char remark

    Show marketing remark (406 chars)

    This home has lots of potential. All the early century charm of the 1940's and 50's with high ceilings, decorative ceiling tiles, large baseboard trim, and hand-crafted stair railing, downstairs has spacious Living, kitchen and dining, lots of bonus space. With the right vision this home can be the bright and shining star of the neighborhood. Potential for a "mother-in-law suite" or Apartment.

18. 2025-05-14
    price $150,000 406-char remark

    Show marketing remark (406 chars)

    This home has lots of potential. All the early century charm of the 1940's and 50's with high ceilings, decorative ceiling tiles, large baseboard trim, and hand-crafted stair railing, downstairs has spacious Living, kitchen and dining, lots of bonus space. With the right vision this home can be the bright and shining star of the neighborhood. Potential for a "mother-in-law suite" or Apartment.

19. 2025-04-02
    price $185,000 406-char remark

    Show marketing remark (406 chars)

    This home has lots of potential. All the early century charm of the 1940's and 50's with high ceilings, decorative ceiling tiles, large baseboard trim, and hand-crafted stair railing, downstairs has spacious Living, kitchen and dining, lots of bonus space. With the right vision this home can be the bright and shining star of the neighborhood. Potential for a "mother-in-law suite" or Apartment.

20. 2025-02-22
    listed $200,000 Active 406-char remark

    Show marketing remark (406 chars)

    This home has lots of potential. All the early century charm of the 1940's and 50's with high ceilings, decorative ceiling tiles, large baseboard trim, and hand-crafted stair railing, downstairs has spacious Living, kitchen and dining, lots of bonus space. With the right vision this home can be the bright and shining star of the neighborhood. Potential for a "mother-in-law suite" or Apartment.

21. 2006-11-06
    soldstatus $165,000
22. 1997-07-22
    soldstatus $60,000

ⓘ 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: $311 · $26/mo
• Projected year-2 tax: $973 · $81/mo
• Expected delta: +$662/yr (+$55/mo · 212.6%)

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

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,777
• − Mortgage interest: −$8,402
• − Property taxes: −$311
• − Insurance: −$5,868
• − Repairs & maintenance: −$1,342
• − Management: −$1,342
• − Depreciation: −$4,364
• Taxable loss: −$4,853
• Est. tax savings @ 24.0%: +$1,165
• After-tax cash flow: $-1,200/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: Somerset County Public Schools
• NCES district ID: 2400570
• Math proficiency: 12% ▼ -7.00%
• Reading proficiency: 23% ▼ -14.00%
• Median HH income: $38,810
• Composite: 14.73/100
• National rank: #9396
• State rank: #22 of 24 in MD

Livability — Crisfield

• Score: 68/100
• State rank: #199
• US rank: #9181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crisfield, MD
• Population (ZIP): 4,102

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 24,474 people
• By 2030: 23,547 · -3.8%
• By 2040: 21,498 · -12.2%
• By 2050: 20,427 · -16.5%
• By 2075: 16,594 · -32.2%
• By 2100: 12,132 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 20% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Italian 2% Serbian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Somerset

• 2024 margin: R (+17.4) · D 40.2% · R 57.5% · Other 2.3%
• 2008→2024 swing: -14.8pp toward R · 2008: -2.6pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.8 2016: R+17.9 2012: R+2.5 2008: R+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.92%
• Current HPI: 292.866
• 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

+150.0% since first listed

7 events — show timeline

• 2026-03-06 Relisted — BRIGHT MLS
• 2026-02-21 Listing Removed — BRIGHT MLS
• 2025-05-14 Price Changed $150,000 BRIGHT MLS
• 2025-04-02 Price Changed $185,000 BRIGHT MLS
• 2025-02-22 Listed $200,000 BRIGHT MLS
• 2006-11-06 Sold (Public Records) $165,000 Public Records
• 1997-07-22 Sold (Public Records) $60,000 Public Records

Property tax history

-10.6%/yr

Latest (2025): $311 · +7.0% YoY. Source: county tax records.