145 W High St · Elkton, MD 21921

$250,000

6 bd · 3.0 ba · 2,016 sqft · SingleFamily public records · 62 Days on market

Built 1935 5,706 sqft lot $124/sqft · 25% below area Est $331k · 25% under

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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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +5.2/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated 2 unit in downtown Elkton! Unit A is a 3bed 1.5 bath unit that rents for 1450 with tenants who are early in their year lease. Unit B is a 1bed 1 bath unit that rents for 1300 and is currently vacant.

Key facts

• 5,706 sq ft lot
• 4 parking spots
• Built 1935

What this means for you Summary

Snapshot

• This is a 6-bed/3.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.1% in Elkton — 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 65/100 on livability (#261 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: schools F, crime F, commute F.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+2.3%/yr); 204 active listings in the ZIP; solid renter incomes; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).
• This rent runs 36% of the median local income ($86k/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 $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $108k; list at $250k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $235,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 8.08%
• Cash-on-cash: 6.38%
• DSCR: 1.28
• GRM: 8.2

CMA / ARV

• ARV (median comp): $331,423
• List price: $250,000
• Delta: -24.57%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-18,570
• Equity at exit: $37,276

10-year hold

• IRR: 1.5%
• Equity multiple: 1.10×
• Total profit: $7,257
• Equity at exit: $21,615

Cash invested: $70,000 (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 21921

• Rents YoY: 2.3%
• Active inventory: 204
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,555 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$231 /mo · $2,776/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$537
• Net cashflow: $372

Break-even live

Break-even rent $2,084

Max offer price $250,000

Occupancy floor 80%

Sensitivity live

Price	-10% $513	-5% $443	+0% $372	+5% $301	+10% $230
Rent	-10% $170	-5% $271	+0% $372	+5% $473	+10% $574
Rate	-1.0pp $498	-0.5pp $436	base $372	+0.5pp $307	+1.0pp $241

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $250,000 Active 62 DOM
2. 2026-06-17
   days on market $250,000 Active 61 DOM
3. 2026-06-16
   days on market $250,000 Active 60 DOM
4. 2026-06-15
   days on market $250,000 Active 59 DOM
5. 2026-06-13
   days on market $250,000 Active 57 DOM
6. 2026-06-09
   days on market $250,000 Active 53 DOM
7. 2026-06-08
   days on market $250,000 Active 52 DOM
8. 2026-06-07
   days on market $250,000 Active 51 DOM
9. 2026-06-04
   days on market $250,000 Active 48 DOM
10. 2026-06-03
    days on market $250,000 Active 47 DOM
11. 2026-06-02
    days on market $250,000 Active 46 DOM
12. 2026-06-01
    days on market $250,000 Active 45 DOM
13. 2026-05-31
    days on market $250,000 Active 44 DOM
14. 2026-04-17
    listed $250,000 Active 207-char remark

    Show marketing remark (207 chars)

    Updated 2 unit in downtown Elkton! Unit A is a 3bed 1.5 bath unit that rents for 1450 with tenants who are early in their year lease. Unit B is a 1bed 1 bath unit that rents for 1300 and is currently vacant.

15. 2024-05-29
    soldstatus $107,500

ⓘ 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: $2,776 · $231/mo
• Projected year-2 tax: $2,776 · $231/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $30,660
• − Mortgage interest: −$14,004
• − Property taxes: −$2,776
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,453
• − Management: −$2,453
• − Depreciation: −$7,273
• Taxable income: $452
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $4,355/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: Cecil County Public Schools
• NCES district ID: 2400240
• Math proficiency: 15% ▼ -21.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $66,544
• Composite: 21.51/100
• National rank: #8322
• State rank: #15 of 24 in MD

Livability — Elkton

• Score: 65/100
• State rank: #261
• US rank: #13293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkton, MD
• County: Cecil County · 65,041 people
• City population: 45,527
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 45,527
• Household income: $85,775
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 1438.0

Population outlook (Cecil County) Hauer SSP2

• Today (2025): 105,877 people
• By 2030: 106,905 · +1.0%
• By 2040: 107,156 · +1.2%
• By 2050: 104,170 · -1.6%
• By 2075: 95,771 · -9.5%
• By 2100: 82,381 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cecil

• 2024 margin: Solid R (+30.9) · D 33.5% · R 64.4% · Other 2.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -14.6pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.6 2016: R+35.3 2012: R+20.4 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.67%
• Current HPI: 253.7641
• Rent YoY: ▲ 2.32%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-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

+132.6% since first listed

2 events — show timeline

• 2026-04-17 Listed $250,000 BRIGHT MLS
• 2024-05-29 Sold (Public Records) $107,500 Public Records

Property tax history

+1.7%/yr

Latest (2025): $2,776 · +4.3% YoY. Source: county tax records.