6231 8th St · Chesapeake Beach, MD 20732

$190,000

3 bd · 2.0 ba · 2,597 sqft · SingleFamily public records · 28 Days on market

Built 1992 0.28 ac lot

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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 +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property is being sold as-is and is perfect for investors, flippers, or buyers looking for a renovation opportunity. With solid bones and endless potential, this home is a blank canvas ready for your vision. Whether you’re looking to fix and flip, hold as a rental, or bring new life to a great location—this is the one. Cash, hard money, or renovation loan preferred. Don’t miss this chance to invest in a property with serious upside!

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1992

Property features AI

Finance

• Other: Ownership is fee simple

Exterior

• Parking: Front-entry attached garage with 2 garage spaces
• Utilities: Private septic tank; Well water
• Home design: Detached property; Year built estimated
• Construction: Foundation described as other; Finished area above grade (estimated) and finished area below grade (estimated)
• Exterior features: Detached structure; Above-grade and below-grade other structures; No tidal water

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms on the main level; Two full bathrooms total
• Heating & cooling: Heat pump(s); Electric hot water; Cooling described as other
• Interior features: Estimated living area; Basement present (other type)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $2k ($22k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $190k).
• Recommended offer: $187k (1.5% below list) — sets the bar for market timing.
• Cap rate 18.0% vs local median 3.6% in Chesapeake Beach — 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 70/100 on livability (#163 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime B+; Watch: amenities F, commute F, cost of living F.
• Calvert County Public Schools (rural): math 23% / reading 44% proficiency, ranked #5 of 24 in MD (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 70 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 101 units permitted in Calvert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $53k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $135k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 70% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $187,150 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
3. 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.
4. 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.
5. 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: 2.18% ✓
• Cap rate: 17.97%
• Cash-on-cash: 41.69%
• DSCR: 2.86
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $457,072
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3671 Dory Brooks Rd	0.31mi	3/3.0	2,552 (-2%)	6mo	$450,000	$176	73
4010 Dalrymple Rd	0.51mi	4/3.0 (+1)	2,586 (-0%)	3mo	$550,000	$213	64
6115 3rd St	0.25mi	4/3.0 (+1)	2,800 (+8%)	23mo	$446,500	$159	48
6423 Brookeside Ct	0.58mi	4/3.0 (+1)	2,405 (-7%)	14mo	$444,000	$185	40
3631 Karen Dr	0.42mi	4/2.5 (+1)	2,872 (+11%)	22mo	$415,000	$144	38

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

Projected returns pro-forma

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

5-year hold

• IRR: 38.3%
• Equity multiple: 2.64×
• Total profit: $87,074
• Equity at exit: $28,330

10-year hold

• IRR: 44.8%
• Equity multiple: 5.29×
• Total profit: $227,962
• Equity at exit: $16,428

Cash invested: $53,200 (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 20732

• Home prices YoY: -28.6%
• Active inventory: 70
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $4,150 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$355 /mo · $4,254/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$872
• Net cashflow: $1,848

Break-even live

Break-even rent $1,810

Max offer price $190,000

Occupancy floor 50%

Sensitivity live

Price	-10% $1,956	-5% $1,902	+0% $1,848	+5% $1,795	+10% $1,741
Rent	-10% $1,521	-5% $1,685	+0% $1,848	+5% $2,012	+10% $2,176
Rate	-1.0pp $1,944	-0.5pp $1,897	base $1,848	+0.5pp $1,799	+1.0pp $1,749

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7517 B St Chesapeake Beach, MD	3.0	3.0	1994	$4,150	$2.08	44d	1	1.38mi

Listing history 22 events

1. 2026-06-18
   days on market $190,000 Active 28 DOM
2. 2026-06-17
   days on market $190,000 Active 27 DOM
3. 2026-06-16
   days on market $190,000 Active 26 DOM
4. 2026-06-15
   days on market $190,000 Active 25 DOM
5. 2026-06-13
   days on market $190,000 Active 23 DOM
6. 2026-06-09
   days on market $190,000 Active 19 DOM
7. 2026-06-08
   days on market $190,000 Active 18 DOM
8. 2026-06-07
   days on market $190,000 Active 17 DOM
9. 2026-06-04
   days on market $190,000 Active 14 DOM
10. 2026-06-03
    days on market $190,000 Active 13 DOM
11. 2026-06-02
    days on market $190,000 Active 12 DOM
12. 2026-06-01
    days on market $190,000 Active 11 DOM
13. 2026-05-31
    days on market $190,000 Active 10 DOM
14. 2026-05-21
    listed $190,000 Active
15. 2026-04-16
    status Pending
16. 2026-04-16
    historical
17. 2026-02-09
    status Active
18. 2025-07-25
    status Pending
19. 2025-07-22
    historical
20. 2025-07-09
    price $220,000
21. 2025-06-27
    listed $259,000 Active
22. 1999-02-17
    soldstatus $135,000

ⓘ 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: $4,254 · $355/mo
• Projected year-2 tax: $4,254 · $355/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 70% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $49,800
• − Mortgage interest: −$10,643
• − Property taxes: −$4,254
• − Insurance: −$950
• − Repairs & maintenance: −$3,984
• − Management: −$3,984
• − Depreciation: −$5,527
• Taxable income: $20,458
• Est. tax owed @ 24.0%: −$4,910
• After-tax cash flow: $17,271/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: Calvert County Public Schools
• NCES district ID: 2400150
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $94,392
• Composite: 33.27/100
• National rank: #5511
• State rank: #5 of 24 in MD

Livability — Chesapeake Beach

• Score: 70/100
• State rank: #163
• US rank: #7363

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 10,940

Population outlook (Calvert County) Hauer SSP2

• Today (2025): 94,825 people
• By 2030: 96,197 · +1.4%
• By 2040: 96,954 · +2.2%
• By 2050: 94,628 · -0.2%
• By 2075: 91,576 · -3.4%
• By 2100: 83,431 · -12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Black 12% Two or more races 10% Asian 3% Hispanic / Latino 2%
• Common ancestry: Italian 4% Romanian 3% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Calvert

• 2024 margin: R (+11.0) · D 43.5% · R 54.5% · Other 2.0%
• 2008→2024 swing: -4.6pp toward R · 2008: -6.3pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+5.6 2016: R+18.4 2012: R+8.2 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.59%
• Current HPI: 264.1851
• 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

+40.7% since first listed

9 events — show timeline

• 2026-05-21 Listed $190,000 BRIGHT MLS
• 2026-04-16 Pending — BRIGHT MLS
• 2026-04-16 Listing Removed — BRIGHT MLS
• 2026-02-09 Relisted — BRIGHT MLS
• 2025-07-25 Pending — BRIGHT MLS
• 2025-07-22 Listing Removed — BRIGHT MLS
• 2025-07-09 Price Changed $220,000 BRIGHT MLS
• 2025-06-27 Listed $259,000 BRIGHT MLS
• 1999-02-17 Sold (Public Records) $135,000 Public Records

Property tax history

+5.7%/yr

Latest (2025): $4,254 · +5.1% YoY. Source: county tax records.