26474 Asbury Ave · Crisfield, MD 21817

$89,900

3 bd · 1.0 ba · 1,676 sqft · SingleFamily public records · 6 Days on market

Built 1875 0.36 ac lot $54/sqft · 43% below area Est $157k · 43% under

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Why this score? — see what drove the A- 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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +9.1/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0

Listing remarks

Affordable living in the quaint waterfront community of Crisfield! Bring your imagination and update this home to fit your needs! Spacious lot to enjoy outdoor hobbies & adorable front porch to feel the breeze and relax. Located less than 2 miles from the Crisfield City Docks!

Key facts

• Adorable front porch
• Waterfront community
• Spacious lot

Tags

• WATERFRONT COMMUNITY
• SPACIOUS LOT
• ADORABLE FRONT PORCH

Property features AI

Finance

• Financial info: Ownership: Fee simple; Lease not considered

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached structure; Finished above-grade area reported by assessor
• Construction: Combination construction materials; Crawl space foundation; Above-grade and below-grade structures
• Exterior features: Property is in a federal flood zone; Ground rent paid annually

Interior

• Bedrooms: Two bedrooms on the upper level; One bedroom on the main level
• Bathrooms: One full bathroom on the main level; One full bathroom total
• Heating & cooling: Electric baseboard heating; Other cooling
• Interior features: No basement; Living area reported by assessor

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $-1 ($-8/yr) — negative.
• To cash-flow at today's rent, offer at most $90k (0.1% below list).
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $90k (0.1% below list) — sets the bar for cash-flow.
• Cap rate 12.0% vs local median 1.5% in Crisfield — 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 68/100 on livability (#199 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, health & safety A+; Watch: schools F, amenities F, commute F.
• Somerset County Public Schools (town): math 12% / reading 23% proficiency, ranked #22 of 24 in MD (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 92 active listings in the ZIP; 49 units permitted in Somerset County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Somerset County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1875 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 80% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $89,780 (0.1% below list)

Questions for the listing agent

1. 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?
2. Built in 1875 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. 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.
7. 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.
8. 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: 1.41% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.30%
• DSCR: 1.90
• GRM: 5.9

CMA / ARV

• ARV (median comp): $157,003
• List price: $89,900
• Delta: -42.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7 Cove St	0.45mi	3/1.0	1,752 (+4%)	1mo	$125,000	$71	71
3310 Lawsonia Rd	0.43mi	3/1.5	1,684 (+0%)	9mo	$150,000	$89	70
3330 Sackertown Rd	0.26mi	3/1.0	1,584 (-6%)	15mo	$122,000	$77	66
16 E Chesapeake Ave	0.42mi	3/1.5	1,575 (-6%)	4mo	$130,000	$83	65
3327 Lawsonia Rd	0.39mi	3/2.5	1,644 (-2%)	12mo	$249,900	$152	63
3349 Sackertown Rd	0.24mi	3/2.0	1,540 (-8%)	13mo	$199,900	$130	60
26552 Old State Rd	0.39mi	4/2.0 (+1)	1,612 (-4%)	9mo	$110,000	$68	59
3175 Boone Rd	0.64mi	3/2.0	1,782 (+6%)	1mo	$171,200	$96	55
26545 Asbury Ave	0.18mi	4/2.5 (+1)	1,920 (+15%)	8mo	$216,500	$113	50
3221 Boone Rd	0.62mi	3/2.0	1,824 (+9%)	6mo	$321,000	$176	47
26419 Minden Ave	0.74mi	3/1.0	1,482 (-12%)	0mo	$194,500	$131	46
26830 Johnson Creek Rd	0.70mi	3/2.0	1,876 (+12%)	9mo	$245,000	$131	36

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.4%
• Equity multiple: 2.95×
• Total profit: $49,171
• Equity at exit: $80,989

10-year hold

• IRR: 21.6%
• Equity multiple: 6.77×
• Total profit: $145,334
• Equity at exit: $174,656

Cash invested: $25,172 (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 21817

• Home prices YoY: 7.3%
• Active inventory: 92
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$471
• Tax from tax record: −$65 /mo · $777/yr
• Insurance: −$37
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-1

Break-even live

Break-even rent $1,266

Max offer price $89,780

Occupancy floor 95%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-05-07
   status Pending 283-char remark
2. 2026-05-01
   listed $89,900 Active 283-char remark

ⓘ 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: $777 · $65/mo
• Projected year-2 tax: $879 · $73/mo
• Expected delta: +$101/yr (+$8/mo · 13.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥101°F today · 19 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,183
• − Mortgage interest: −$5,036
• − Property taxes: −$777
• − Insurance: −$5,568
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − Depreciation: −$2,615
• Taxable loss: −$1,243
• Est. tax savings @ 24.0%: +$298
• After-tax cash flow: $290/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: Somerset County Public Schools
• NCES district ID: 2400570
• Math proficiency: 12% ▼ -7.00%
• Reading proficiency: 23% ▼ -14.00%
• Median HH income: $38,810
• Composite: 14.73/100
• National rank: #9396
• State rank: #22 of 24 in MD

Livability — Crisfield

• Score: 68/100
• State rank: #199
• US rank: #9181

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 4,102

Population outlook (Somerset County) Hauer SSP2

• Today (2025): 24,474 people
• By 2030: 23,547 · -3.8%
• By 2040: 21,498 · -12.2%
• By 2050: 20,427 · -16.5%
• By 2075: 16,594 · -32.2%
• By 2100: 12,132 · -50.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Black 20% Two or more races 4% Hispanic / Latino 3% Asian 1%
• Common ancestry: Italian 2% Serbian 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 2%

Political lean MEDSL · Somerset

• 2024 margin: R (+17.4) · D 40.2% · R 57.5% · Other 2.3%
• 2008→2024 swing: -14.8pp toward R · 2008: -2.6pp · 2024: -17.4pp
• All cycles: 2024: R+17.4 2020: R+14.8 2016: R+17.9 2012: R+2.5 2008: R+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 19.92%
• Current HPI: 292.866
• 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

2 events — show timeline

• 2026-05-07 Pending — BRIGHT MLS
• 2026-05-01 Listed $89,900 BRIGHT MLS

Property tax history

+0.2%/yr

Latest (2025): $777 · +15.3% YoY. Source: county tax records.