Sandy Square CM 11901 Wight St #202 · Ocean City, MD 21842

$9,500

3 bd · 2.0 ba · 1,041 sqft · Condo public records · 117 Days on market

Built 1987 $9/sqft · 98% below area $142/mo HOA · 5% of rent

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Direct Ocean front Timeshare for 1 week (week 39) every year. If you are looking to be at the Beach during the Ocean's Calling or Country Calling Festival, here is the best opportunity. If you can't be here, rent it out and pay for your maintenance fees and make extra income. Beautiful views from the balcony, bring the pets. This is something you won't want to miss out on. It's 3 bedrooms, 2 full baths and full kitchen, dining room and living room. Washer and dryer in unit. Maintenance fees include cable and maintenace for outside and inside building. Elevator for building. Five floors and you will be on 2nd floor. Call today for your private viewing. Also week 40 available in same unit for additional $9,500.

Key facts

• Ocean front
• Full kitchen
• Washer and dryer

Tags

• OCEAN FRONT
• FULL KITCHEN
• WASHER AND DRYER
• ELEVATOR

🏷️ Possibly a rental listed for sale. The $9,500 price doesn't fit this home's estimated sale value (~$601,780) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $10k.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $10k).
• Recommended offer: $9k (9.0% below list) — sets the bar for market timing.
• Cap rate 261.8% vs local median 1.4% in Ocean City — 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 73/100 on livability (#125 in MD) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A+, schools B+; Watch: cost of living C-, crime F.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 673 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).
• This rent runs 42% of the median local income ($80k/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 $66 of loan paydown is wiped out by about $285 of value loss. Plan a longer hold.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $3k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($9k) is reasonable based on typical stale-listing flexibility.

Recommended offer $8,645 (9.0% below list)

Questions for the listing agent

1. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 29.72% ✓
• Cap rate: 261.83%
• Cash-on-cash: 912.62%
• DSCR: 41.61
• GRM: 0.3

CMA / ARV

• ARV (median comp): $601,780
• List price: $9,500
• Delta: -98.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 48.91×
• Total profit: $127,434
• Equity at exit: $1,416

10-year hold

• IRR: —
• Equity multiple: 105.29×
• Total profit: $277,402
• Equity at exit: $821

Cash invested: $2,660 (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 21842

• Home prices YoY: -5.0%
• Active inventory: 673
• Price-to-rent: 0.3×

Monthly cashflow live

• Estimated rent: $2,824 medium
• Mortgage (P&I): −$50
• Tax est. 1.5%: −$12 /mo · $142/yr
• Insurance: −$4
• HOA: −$142
• Vacancy / Maint / Mgmt: −$593
• Net cashflow: $2,023

Break-even live

Break-even rent $263

Max offer price $9,500

Occupancy floor 23%

Sensitivity live

Price	-10% $2,030	-5% $2,026	+0% $2,023	+5% $2,020	+10% $2,016
Rent	-10% $1,800	-5% $1,911	+0% $2,023	+5% $2,134	+10% $2,246
Rate	-1.0pp $2,028	-0.5pp $2,025	base $2,023	+0.5pp $2,021	+1.0pp $2,018

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: $2,375
• Closing costs: $285
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
117 Newport Bay Dr Unit 117C Ocean City, MD	3.0	2.0	936	$2,700	$2.88	44d	1	0.25mi
157 Old Wharf Rd Ocean City, MD	4.0	3.0	1344	$4,000	$2.98	44d	1	0.67mi
9207 Rusty Anchor Rd Ocean City, MD	3.0	2.0	1200	$2,500	$2.08	44d	1	1.22mi
745 Mooring Rd #103 Ocean City, MD	2.0	2.0	792	$2,500	$3.16	44d	1	1.38mi

HOA detail condo

• Monthly dues: $142 · $1,704/yr
• Likely covers: cable
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $9,500 Active 117 DOM
2. 2026-06-17
   days on market $9,500 Active 116 DOM
3. 2026-06-16
   days on market $9,500 Active 115 DOM
4. 2026-06-15
   days on market $9,500 Active 114 DOM
5. 2026-06-14
   days on market $9,500 Active 112 DOM
6. 2026-06-13
   days on market $9,500 Active 111 DOM
7. 2026-06-10
   days on market $9,500 Active 109 DOM
8. 2026-06-09
   days on market $9,500 Active 108 DOM
9. 2026-06-08
   days on market $9,500 Active 107 DOM
10. 2026-06-07
    days on market $9,500 Active 106 DOM
11. 2026-06-02
    days on market $9,500 Active 101 DOM
12. 2026-06-01
    days on market $9,500 Active 100 DOM
13. 2026-05-31
    days on market $9,500 Active 99 DOM
14. 2026-05-30
    days on market $9,500 Active 98 DOM
15. 2026-02-22
    listed $9,500 Active 718-char remark

    Show marketing remark (718 chars)

    Direct Ocean front Timeshare for 1 week (week 39) every year. If you are looking to be at the Beach during the Ocean's Calling or Country Calling Festival, here is the best opportunity. If you can't be here, rent it out and pay for your maintenance fees and make extra income. Beautiful views from the balcony, bring the pets. This is something you won't want to miss out on. It's 3 bedrooms, 2 full baths and full kitchen, dining room and living room. Washer and dryer in unit. Maintenance fees include cable and maintenace for outside and inside building. Elevator for building. Five floors and you will be on 2nd floor. Call today for your private viewing. Also week 40 available in same unit for additional $9,500.

16. 1987-08-25
    soldstatus $200,000

ⓘ 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: $33,883
• − Mortgage interest: −$532
• − Property taxes: −$142
• − Insurance: −$48
• − Repairs & maintenance: −$2,711
• − Management: −$2,711
• − HOA: −$1,704
• − Depreciation: −$276
• Taxable income: $25,759
• Est. tax owed @ 24.0%: −$6,182
• After-tax cash flow: $18,093/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: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

Livability — Ocean City

• Score: 73/100
• State rank: #125
• US rank: #5407

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean City, MD
• County: Worcester County · 35,603 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 11,226
• Household income: $79,876
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 322.0

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Russian/Polish/Slavic 3% Other Indo-European 2%

Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.65%
• Current HPI: 482.18
• Rent YoY: —
• Metro: Salisbury, MD-DE
• 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

-95.2% since first listed

2 events — show timeline

• 2026-02-22 Listed $9,500 BRIGHT MLS
• 1987-08-25 Sold (Public Records) $200,000 Public Records

Property tax history

-1.0%/yr

Latest (2025): $2,889 · +2.0% YoY. Source: county tax records.