1926 Fletcher Rd · Perryman, MD 21001

$104,999

3 bd · 2.0 ba · 1,500 sqft · SingleFamily · 106 Days on market

Built 1991 Good condition 8,712 sqft lot $70/sqft · 11% below area Est $118k · 11% under ↓ 5% since listing

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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
• ARV discount +12.4/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Livability +3.2/5.0
• Schools +2.9/10.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully remodeled 3 bed/2 bath in Bush River Manor. Home sits in a private wooded setting. Ideal for sitting outside with your drink of choice. Lot rent is $961

Key facts

• 8,712 sq ft lot
• Built 1991
• Listed 106 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 5.7% in Perryman — 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 63/100 on livability (#293 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A-, cost of living A-; Watch: employment C-, commute D+, schools F.
• Harford County Public Schools (suburban): math 22% / reading 39% proficiency, ranked #9 of 24 in MD (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 186 active listings in the ZIP; solid renter incomes; 803 units permitted in Harford County in 2024 (26 in 5+ unit buildings).
• This rent runs 33% of the median local income ($83k/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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 0.3% rent growth), your $29k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 106 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Recommended offer $95,549 (9.0% below list)

Questions for the listing agent

1. It's been on market 106 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 2.16% ✓
• Cap rate: 18.52%
• Cash-on-cash: 43.67%
• DSCR: 2.94
• GRM: 3.9

CMA / ARV

• ARV (median comp): $117,758
• List price: $104,999
• Delta: -10.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
225 Poclain Dr	0.12mi	3/2.0	1,400 (-7%)	1mo	$104,990	$75	83
202 Garner Dr	0.16mi	3/2.0	1,600 (+7%)	2mo	$60,500	$38	80
227 Poclain Rd	0.11mi	4/2.0 (+1)	1,600 (+7%)	0mo	$95,000	$59	78
1922 Fletcher Rd	0.02mi	3/2.0	1,344 (-10%)	14mo	$89,900	$67	70
302 Seagull Dr	0.17mi	4/2.0 (+1)	1,475 (-2%)	17mo	$374,000	$254	70
306 Heron St	0.13mi	3/2.5	1,332 (-11%)	4mo	$288,000	$216	70
1912 Perryman Rd	0.18mi	3/2.5	1,332 (-11%)	7mo	$300,000	$225	65
1904 Perryman Rd	0.20mi	3/2.0	1,660 (+11%)	14mo	$325,000	$196	61
207 Poclain	0.23mi	3/2.0	1,716 (+14%)	19mo	$109,500	$64	49

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 · 0.28% rent growth · sell at horizon

5-year hold

• IRR: 37.5%
• Equity multiple: 2.53×
• Total profit: $45,101
• Equity at exit: $15,656

10-year hold

• IRR: 42.6%
• Equity multiple: 4.52×
• Total profit: $103,617
• Equity at exit: $9,078

Cash invested: $29,400 (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 21001

• Home prices YoY: -30.5%
• Rents YoY: 0.3%
• Active inventory: 186
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $2,273 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $1,070

Break-even live

Break-even rent $919

Max offer price $104,999

Occupancy floor 48%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $104,999 Active 106 DOM
2. 2026-06-17
   days on market $104,999 Active 105 DOM
3. 2026-06-16
   days on market $104,999 Active 104 DOM
4. 2026-06-15
   days on market $104,999 Active 103 DOM
5. 2026-06-13
   days on market $104,999 Active 101 DOM
6. 2026-06-09
   days on market $104,999 Active 97 DOM
7. 2026-06-08
   days on market $104,999 Active 96 DOM
8. 2026-06-07
   days on market $104,999 Active 95 DOM
9. 2026-06-04
   days on market $104,999 Active 92 DOM
10. 2026-06-03
    days on market $104,999 Active 91 DOM
11. 2026-06-02
    days on market $104,999 Active 90 DOM
12. 2026-06-01
    days on market $104,999 Active 89 DOM
13. 2026-05-31
    days on market $104,999 Active 88 DOM
14. 2026-04-30
    price $104,999 164-char remark

    Show marketing remark (164 chars)

    Beautifully remodeled 3 bed/2 bath in Bush River Manor. Home sits in a private wooded setting. Ideal for sitting outside with your drink of choice. Lot rent is $961

15. 2026-03-04
    listed $110,000 Active 164-char remark

    Show marketing remark (164 chars)

    Beautifully remodeled 3 bed/2 bath in Bush River Manor. Home sits in a private wooded setting. Ideal for sitting outside with your drink of choice. Lot rent is $961

16. 2026-02-26
    historical $110,000 164-char remark

    Show marketing remark (164 chars)

    Beautifully remodeled 3 bed/2 bath in Bush River Manor. Home sits in a private wooded setting. Ideal for sitting outside with your drink of choice. Lot rent is $961

ⓘ 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: $27,272
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$2,182
• − Management: −$2,182
• − Depreciation: −$3,055
• Taxable income: $11,873
• Est. tax owed @ 24.0%: −$2,849
• After-tax cash flow: $9,988/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This home is in excellent condition with a modern kitchen and bathrooms, hardwood floors, and neutral paint. It has a good foundation and structure, and the exterior could benefit from some painting and a new deck.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and value
• Both Replace the deck — Improves outdoor living space and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and value ↑
• Both Replace the deck — Improves outdoor living space and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Harford County Public Schools
• NCES district ID: 2400390
• Math proficiency: 22% ▼ -23.00%
• Reading proficiency: 39% ▼ -12.00%
• Median HH income: $79,569
• Composite: 29.38/100
• National rank: #6527
• State rank: #9 of 24 in MD

Livability — Perryman

• Score: 63/100
• State rank: #293
• US rank: #15253

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Perryman, MD
• County: Harford County · 198,512 people
• City population: 75
• Metro: Baltimore-Columbia-Towson, MD
• Population (ZIP): 27,168
• Household income: $83,238
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 736.0

Population outlook (Harford County) Hauer SSP2

• Today (2025): 262,292 people
• By 2030: 266,437 · +1.6%
• By 2040: 269,954 · +2.9%
• By 2050: 265,659 · +1.3%
• By 2075: 252,886 · -3.6%
• By 2100: 224,014 · -14.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 54% Black 28% Hispanic / Latino 9% Two or more races 9% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2% Dominican 1%
• Common ancestry: Romanian 3% Slovak 1% Scotch-Irish 1%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 89% English-only · Spanish 4% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Harford

• 2024 margin: R (+13.8) · D 41.9% · R 55.7% · Other 2.4%
• 2008→2024 swing: +5.0pp toward D · 2008: -18.8pp · 2024: -13.8pp
• All cycles: 2024: R+13.8 2020: R+12.0 2016: R+24.5 2012: R+19.5 2008: R+18.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -108.65%
• Current HPI: 247.668
• Rent YoY: ▲ 0.28%
• Metro: Baltimore-Columbia-Towson, 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

-4.5% since first listed

3 events — show timeline

• 2026-04-30 Price Changed $104,999 BRIGHT MLS
• 2026-03-04 Listed $110,000 BRIGHT MLS
• 2026-02-26 Coming Soon $110,000 BRIGHT MLS