8956 Oakland Sang Run Rd

Oakland, MD 21550

$219,900D-

3 bd · 2.0 ba · 1,064 sqft · Built 1999 · Manufactured · Active · 64 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,291/mo
• Mortgage (P&I): −$1,153
• Tax + insurance: −$157
• HOA: −$0
• Vac / Maint / Mgmt: −$271
• Net cashflow: $-290/mo
• Annual: $-3,485/yr
• Cap rate: 4.71%
• Cash-on-cash: -5.66%
• DSCR: 0.75
• 1% rule: 0.59%
• Cash to close: $61,572

Investor read

• This is a 3-bed/2.0-bath manufactured listed at $220k.
• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $169k (23.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $129k (41.3% below list).
• It's been on market 64 days — a 6% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $129k (41.3% below list) — sets the bar for 1% rule.
• In year one you build about $901 of equity ($2k loan paydown + $-619 appreciation (-0.3% local appreciation)).
• Location reads 73/100 on livability (#124 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Garrett County Public Schools (rural): math 17% / reading 30% proficiency, ranked #16 of 24 in MD (top 67%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 183 active listings in the ZIP; 122 units permitted in Garrett County in 2024 (0 in 5+ unit buildings).
• Garrett County population projected at -23% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $45k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $220k implies a 175% gain — meaningful room to come down on a strong offer.
• Cap rate 4.7% vs local median 0.6% in Oakland — 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.

Questions for listing agent

• 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?
• It's been on market 64 days. Have you received any prior offers? Is the seller open to a 41% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.