3 Locust St · Aberdeen, MD 21078

$85,000

3 bd · 2.0 ba · 1,848 sqft · Manufactured · 102 Days on market

Built 1997 $46/sqft · 78% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This spacious 28x66 double-wide offers an open floor plan perfect for comfortable living and entertaining. The inviting living room features a cozy fireplace, ideal for relaxing evenings. The updated kitchen has granite countertops, stainless steel appliances, and ample cabinet space. The primary bedroom suite includes a walk-in closet and private full bath. Conveniently located in the charming community of Havre de Grace, close to shopping, dining, and major routes. Move right in and enjoy affordable living with style and space!

Key facts

• Open floor plan
• Walk-in closet
• Cozy fireplace

Tags

• OPEN FLOOR PLAN
• COZY FIREPLACE
• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• WALK-IN CLOSET
• PRIVATE FULL BATH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $85k.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 28.7% vs local median 4.8% in Aberdeen — 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 81/100 on livability (#42 in MD, #1,545 nationally) — a professional / high-income tenant draw. Strengths: commute A+, housing A+, health & safety A+; Watch: schools C-, crime F.
• Harford County Public Schools (suburban): math 22% / reading 39% proficiency, ranked #9 of 24 in MD (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 178 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 803 units permitted in Harford County in 2024 (26 in 5+ unit buildings).
• This rent runs 31% of the median local income ($107k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $24k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 102 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 102 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.24% ✓
• Cap rate: 28.70%
• Cash-on-cash: 80.04%
• DSCR: 4.56
• GRM: 2.6

CMA / ARV

• ARV (median comp): $383,878
• List price: $85,000
• Delta: -77.86%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 80.2%
• Equity multiple: 4.67×
• Total profit: $87,372
• Equity at exit: $12,674

10-year hold

• IRR: 83.6%
• Equity multiple: 9.67×
• Total profit: $206,439
• Equity at exit: $7,349

Cash invested: $23,800 (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 21078

• Home prices YoY: -33.4%
• Active inventory: 178
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $2,753 high
• Mortgage (P&I): −$446
• Tax est. 1.5%: −$106 /mo · $1,275/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $1,587

Break-even live

Break-even rent $744

Max offer price $85,000

Occupancy floor 37%

Sensitivity live

Price	-10% $1,646	-5% $1,617	+0% $1,587	+5% $1,558	+10% $1,529
Rent	-10% $1,370	-5% $1,479	+0% $1,587	+5% $1,696	+10% $1,805
Rate	-1.0pp $1,630	-0.5pp $1,609	base $1,587	+0.5pp $1,565	+1.0pp $1,543

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2321 Old Post Rd Havre de Grace, MD	4.0	3.0	2134	$2,970	$1.39	5d	1	0.31mi
152 Hannock St Havre de Grace, MD	4.0	2.5	1962	$2,900	$1.48	25d	1	1.41mi
1745 Lawder Cir Havre de Grace, MD	4.0	2.5	1934	$3,000	$1.55	25d	1	1.49mi
1745 Lawder Cir Havre de Grace, MD	4.0	2.5	1934	$2,900	$1.50	16d	1	1.49mi
1801 Rankokus Dr Havre de Grace, MD	4.0	2.5	1962	$3,175	$1.62	12d	1	1.50mi

Listing history 26 events

1. 2026-06-21
   days on market $85,000 Active 102 DOM
2. 2026-06-18
   days on market $85,000 Active 99 DOM
3. 2026-06-18
   price $85,000 Active 98 DOM
4. 2026-06-17
   days on market $95,000 Active 98 DOM
5. 2026-06-16
   days on market $95,000 Active 97 DOM
6. 2026-06-15
   days on market $95,000 Active 96 DOM
7. 2026-06-13
   days on market $95,000 Active 94 DOM
8. 2026-06-09
   days on market $95,000 Active 90 DOM
9. 2026-06-08
   days on market $95,000 Active 89 DOM
10. 2026-06-07
    days on market $95,000 Active 88 DOM
11. 2026-06-04
    days on market $95,000 Active 85 DOM
12. 2026-06-03
    days on market $95,000 Active 84 DOM
13. 2026-06-02
    days on market $95,000 Active 83 DOM
14. 2026-06-01
    days on market $95,000 Active 82 DOM
15. 2026-05-31
    days on market $95,000 Active 81 DOM
16. 2026-03-13
    status Active 535-char remark

    Show marketing remark (535 chars)

    This spacious 28x66 double-wide offers an open floor plan perfect for comfortable living and entertaining. The inviting living room features a cozy fireplace, ideal for relaxing evenings. The updated kitchen has granite countertops, stainless steel appliances, and ample cabinet space. The primary bedroom suite includes a walk-in closet and private full bath. Conveniently located in the charming community of Havre de Grace, close to shopping, dining, and major routes. Move right in and enjoy affordable living with style and space!

17. 2026-03-12
    historical 535-char remark

    Show marketing remark (535 chars)

    This spacious 28x66 double-wide offers an open floor plan perfect for comfortable living and entertaining. The inviting living room features a cozy fireplace, ideal for relaxing evenings. The updated kitchen has granite countertops, stainless steel appliances, and ample cabinet space. The primary bedroom suite includes a walk-in closet and private full bath. Conveniently located in the charming community of Havre de Grace, close to shopping, dining, and major routes. Move right in and enjoy affordable living with style and space!

18. 2026-03-10
    listed $95,000 Active 535-char remark

    Show marketing remark (535 chars)

    This spacious 28x66 double-wide offers an open floor plan perfect for comfortable living and entertaining. The inviting living room features a cozy fireplace, ideal for relaxing evenings. The updated kitchen has granite countertops, stainless steel appliances, and ample cabinet space. The primary bedroom suite includes a walk-in closet and private full bath. Conveniently located in the charming community of Havre de Grace, close to shopping, dining, and major routes. Move right in and enjoy affordable living with style and space!

19. 2026-03-09
    historical
20. 2025-10-24
    listed $99,900 Active
21. 2025-10-17
    historical
22. 2023-11-06
    soldstatus $84,000 Closed
23. 2023-10-17
    status Pending
24. 2023-10-01
    listed $89,900 Active
25. 2006-10-18
    historical
26. 2006-04-14
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $33,036
• − Mortgage interest: −$4,761
• − Property taxes: −$1,275
• − Insurance: −$425
• − Repairs & maintenance: −$2,643
• − Management: −$2,643
• − Depreciation: −$2,473
• Taxable income: $18,816
• Est. tax owed @ 24.0%: −$4,516
• After-tax cash flow: $14,533/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: Harford County Public Schools
• NCES district ID: 2400390
• Math proficiency: 22% ▼ -23.00%
• Reading proficiency: 39% ▼ -12.00%
• Median HH income: $79,569
• Composite: 29.38/100
• National rank: #6527
• State rank: #9 of 24 in MD

Livability — Aberdeen

• Score: 81/100
• State rank: #42
• US rank: #1545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harford County · 198,512 people
• City population: 27,168
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 20,030
• Household income: $106,667
• Rent vs Own: 23.0% rent · 77.0% own
• Severe rent burden: 327.0

Population outlook (Harford County) Hauer SSP2

• Today (2025): 262,292 people
• By 2030: 266,437 · +1.6%
• By 2040: 269,954 · +2.9%
• By 2050: 265,659 · +1.3%
• By 2075: 252,886 · -3.6%
• By 2100: 224,014 · -14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (75%)
• Race & ethnicity: White 75% Black 12% Two or more races 7% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 5% Slovak 3% Lithuanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 95% English-only · Spanish 2% Tagalog/Filipino 1% German/W. Germanic 1%

Political lean MEDSL · Harford

• 2024 margin: R (+13.8) · D 41.9% · R 55.7% · Other 2.4%
• 2008→2024 swing: +5.0pp toward D · 2008: -18.8pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+12.0 2016: R+24.5 2012: R+19.5 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.95%
• Current HPI: 239.1951
• Rent YoY: —
• Metro: Baltimore-Columbia-Towson, MD
• 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

+5.7% since first listed

11 events — show timeline

• 2026-03-13 Relisted — BRIGHT MLS
• 2026-03-12 Listing Removed — BRIGHT MLS
• 2026-03-10 Listed $95,000 BRIGHT MLS
• 2026-03-09 Listing Removed — BRIGHT MLS
• 2025-10-24 Listed $99,900 BRIGHT MLS
• 2025-10-17 Coming Soon — BRIGHT MLS
• 2023-11-06 Sold (MLS) $84,000 BRIGHT MLS
• 2023-10-17 Pending — BRIGHT MLS
• 2023-10-01 Listed $89,900 BRIGHT MLS
• 2006-10-18 Delisted — MRIS
• 2006-04-14 Listed — MRIS