324 E Main St · Emmitsburg, MD 21727

$139,900

3 bd · 1.0 ba · 1,655 sqft · Townhouse public records · 8 Days on market

Built 1900 5,115 sqft lot Est $276k · 49% under

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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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.9/10.0
• Livability +3.7/5.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

MULTIPLE OFFERS RECEVIED. PLEASE SUBMIT ALL OFFERS BY 8PM 6/17. A great opportunity to hold and rent or rehab and flip, this 2-4 bedroom, 2 full bath is conveniently located in the heart of Emmitsburg. Newer full bath on lower level with living room, family room and dining room as well. Family room could serve as lower level primary bedroom with primary full bath. Full bath in the upper level with 2-3 bedrooms. Nice backyard area with covered deck, 2 sheds and off-street parking. Efficient natural gas hot water baseboard heat.

Key facts

• Covered deck
• Newer full bath
• Off-street parking

Tags

• NEWER FULL BATH
• COVERED DECK
• OFF-STREET PARKING

Property features AI

Finance

• Other: Ownership is fee simple

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer; Electric hot water; Natural gas available
• Home design: Interior townhouse/rowhouse; Stick-built construction
• Construction: Metal roof; Crawl space foundation
• Exterior features: Deck(s) and porch(es); Shed on the property; Located within city limits; parking available in back

Interior

• Bedrooms: Three bedrooms on the first upper level
• Bathrooms: Two full bathrooms (one on main level, one on first upper level)
• Heating & cooling: Baseboard hot water heating; Window air conditioning units (electric)
• Interior features: Basement with dirt floor and outside entrance

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $140k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 10.0% vs local median 2.0% in Emmitsburg — 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 74/100 on livability (#114 in MD, #4,757 nationally) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, crime B+; Watch: amenities F, commute F.
• Frederick County Public Schools (other): math 27% / reading 43% proficiency, ranked #4 of 24 in MD (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Emmitsburg Elementary (math 17% / reading 17%, grade F, #408 of 860 statewide, top 50%, 216 students, 42% FRL); Thurmont Middle (math 11% / reading 37%, grade F, #114 of 225 statewide, top 52%, 546 students, 41% FRL); Catoctin High (math 62% / reading 67%, grade B-, #55 of 222 statewide, top 26%, 784 students, 34% FRL) — zoned schools average 39% FRL vs 20% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 29 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,562 units permitted in Frederick County in 2024 (374 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Frederick County population projected at +15% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 29y ago 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 $67k; list at $140k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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.
5. 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.
6. 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: 1.29% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.28%
• DSCR: 1.59
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $276,385
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 Robindale Dr	0.36mi	3/1.5	1,656 (+0%)	24mo	$276,000	$167	61
21 Robindale Dr	0.42mi	3/1.5	1,550 (-6%)	15mo	$279,300	$180	55
526 W North Ave	0.50mi	3/2.0	1,840 (+11%)	4mo	$247,700	$135	50
26 Robindale Dr	0.42mi	4/2.5 (+1)	1,600 (-3%)	23mo	$257,500	$161	45

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: 3.3%
• Equity multiple: 1.13×
• Total profit: $4,988
• Equity at exit: $20,860

10-year hold

• IRR: 12.9%
• Equity multiple: 2.02×
• Total profit: $40,070
• Equity at exit: $12,096

Cash invested: $39,172 (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 21727

• Home prices YoY: -5.7%
• Active inventory: 29
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$196 /mo · $2,357/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $434

Break-even live

Break-even rent $1,251

Max offer price $139,900

Occupancy floor 71%

Sensitivity live

Price	-10% $513	-5% $473	+0% $434	+5% $394	+10% $354
Rent	-10% $291	-5% $363	+0% $434	+5% $505	+10% $576
Rate	-1.0pp $504	-0.5pp $469	base $434	+0.5pp $397	+1.0pp $360

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
111 N Seton Ave Emmitsburg, MD	3.0	1.5	1386	$1,800	$1.30	11d	1	0.22mi

Listing history 9 events

1. 2026-06-21
   statusdays on market $139,900 Pending 8 DOM
2. 2026-06-18
   days on market $139,900 Active 7 DOM
3. 2026-06-17
   remarks 533-char remark
4. 2026-06-17
   days on market $139,900 Active 6 DOM
5. 2026-06-16
   days on market $139,900 Active 5 DOM
6. 2026-06-15
   days on market $139,900 Active 4 DOM
7. 2026-06-13
   days on market $139,900 Active 2 DOM
8. 2026-06-13
   remarks 468-char remark
9. 2026-06-13
   listed $139,900 Active 1 DOM

ⓘ 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: $2,357 · $196/mo
• Projected year-2 tax: $2,357 · $196/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 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥102°F today · 17 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 7% 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: $21,600
• − Mortgage interest: −$7,837
• − Property taxes: −$2,357
• − Insurance: −$700
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − Depreciation: −$4,070
• Taxable income: $3,181
• Est. tax owed @ 24.0%: −$763
• After-tax cash flow: $4,440/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: Frederick County Public Schools
• NCES district ID: 2400330
• Math proficiency: 27% ▼ -23.00%
• Reading proficiency: 43% ▼ -15.00%
• Median HH income: $84,020
• Composite: 33.54/100
• National rank: #5429
• State rank: #4 of 24 in MD

Livability — Emmitsburg

• Score: 74/100
• State rank: #114
• US rank: #4757

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Emmitsburg, MD
• Population (ZIP): 6,079

Population outlook (Frederick County) Hauer SSP2

• Today (2025): 269,438 people
• By 2030: 280,160 · +4.0%
• By 2040: 298,408 · +10.8%
• By 2050: 311,062 · +15.4%
• By 2075: 342,819 · +27.2%
• By 2100: 351,361 · +30.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Hispanic / Latino 9% Two or more races 9% Black 9%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 1%
• Foreign-born: 9% · Canada
• Languages at home: 87% English-only · Spanish 8% Other Indo-European 1%

Political lean MEDSL · Frederick

• 2024 margin: Lean D (+8.8) · D 53.2% · R 44.4% · Other 2.5%
• 2008→2024 swing: +9.9pp toward D · 2008: -1.0pp · 2024: 8.8pp
• All cycles: 2024: D+8.8 2020: D+9.6 2016: R+4.0 2012: R+3.9 2008: R+1.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.22%
• Current HPI: 251.1905
• 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

+191.5% since first listed

7 events — show timeline

• 2026-06-11 Listed $139,900 BRIGHT MLS
• 1998-12-10 Sold (MLS) $67,000 MRIS
• 1998-08-21 Delisted — MRIS
• 1998-01-27 Listed $69,500 MRIS
• 1997-12-31 Delisted — MRIS
• 1997-02-19 Listed — MRIS
• 1986-04-25 Sold (Public Records) $48,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $2,357 · +9.0% YoY. Source: county tax records.