2645 Rebecca Ln · Cambridge, MD 21613

$134,990

3 bd · 2.0 ba · 1,904 sqft · SingleFamily · 343 Days on market

Built 2006 ↓ 7% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Key facts

• Built 2006
• Listed 343 days

Property features AI

Finance

• Financial info: Monthly ground rent: $574.30

Exterior

• Parking: Driveway
• Utilities: Public water; Public sewer
• Home design: Manufactured home; Above-grade living space (estimated 1,904 finished); Construction includes stick-built and modular/manufactured elements
• Construction: Manufactured construction; Above-grade structures present
• Exterior features: Driveway parking; Located within city limits; Ground rent applies (monthly)

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump with electric backup; Central air conditioning (electric)
• Interior features: Lever-handle door hardware

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $880 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.1% vs local median 4.2% in Cambridge — 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 65/100 on livability (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 292 active listings in the ZIP; 11 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; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $934 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% 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 $38k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 343 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Recommended offer $118,791 (12.0% below list)

Questions for the listing agent

1. It's been on market 343 days. Have you received any prior offers? Is the seller open to a 12% 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. 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?
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: 1.70% ✓
• Cap rate: 14.12%
• Cash-on-cash: 27.95%
• DSCR: 2.24
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $323,680
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2645 Rebecca Ln	0.00mi	3/2.0	1,904 (0%)	1mo	$132,000	$69	99
1611 Stone Boundary Rd	0.61mi	4/2.0 (+1)	1,848 (-3%)	15mo	$315,000	$170	50

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: 22.1%
• Equity multiple: 1.91×
• Total profit: $34,235
• Equity at exit: $20,127

10-year hold

• IRR: 30.2%
• Equity multiple: 3.70×
• Total profit: $102,157
• Equity at exit: $11,671

Cash invested: $37,797 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 292
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $2,295 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $880

Break-even live

Break-even rent $1,181

Max offer price $134,990

Occupancy floor 57%

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: $33,748
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2504 Boeing Way Cambridge, MD	3.0	2.5	1922	$2,199	$1.14	43d	1	1.13mi
2509 Boeing Way Cambridge, MD	3.0	2.5	1780	$1,965	$1.10	43d	1	1.14mi
2505 Boeing Way Cambridge, MD	3.0	2.5	1557	$2,199	$1.41	43d	1	1.15mi
2484 Westwind Blvd Unit TH Cambridge, MD	3.0	2.5	1826	$2,100	$1.15	43d	1	1.16mi
2102 Winterberry Ln Cambridge, MD	3.0	2.5	1909	$2,800	$1.47	43d	1	1.35mi
2104 Winterberry Ln Cambridge, MD	3.0	2.5	1909	$2,500	$1.31	43d	1	1.36mi
2108 Winterberry Ln Cambridge, MD	3.0	2.5	1909	$2,500	$1.31	43d	1	1.36mi
318 E Appleby Ave Cambridge, MD	3.0	2.5	1536	$2,100	$1.37	43d	1	1.41mi
2914 Winterberry Ln Cambridge, MD	4.0	3.5	2148	$2,600	$1.21	43d	1	1.45mi
1507 Race St Cambridge, MD	3.0	1.0	1260	$1,695	$1.35	43d	1	1.49mi
2208 Winterberry Ln Unit I Cambridge, MD	3.0	2.5	1919	$2,450	$1.28	43d	1	1.50mi

Listing history 6 events

1. 2026-05-11
   status Pending
2. 2026-02-12
   historical Active Under Contract
3. 2025-04-18
   price $134,990
4. 2025-03-19
   price $139,990
5. 2025-03-07
   listed $144,990 Active
6. 2025-02-28
   historical $144,990

ⓘ 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: $27,544
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$2,204
• − Management: −$2,204
• − Depreciation: −$3,927
• Taxable income: $8,949
• Est. tax owed @ 24.0%: −$2,148
• After-tax cash flow: $8,417/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• 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

-6.9% since first listed

6 events — show timeline

• 2026-05-11 Pending — BRIGHT MLS
• 2026-02-12 Contingent — BRIGHT MLS
• 2025-04-18 Price Changed $134,990 BRIGHT MLS
• 2025-03-19 Price Changed $139,990 BRIGHT MLS
• 2025-03-07 Listed $144,990 BRIGHT MLS
• 2025-02-28 Coming Soon $144,990 BRIGHT MLS