22 Davidson St · Grahamtown, MD 21532

$90,000

3 bd · 1.0 ba · 1,314 sqft · Townhouse public records · 5 Days on market

Built 1924 0.29 ac lot

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Why this score? — see what drove the C+ 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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Livability +3.5/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor opportunity in Frostburg! 3-bedroom, 1-bath semi-detached townhome conveniently located near Frostburg State University, offering strong rental and student housing potential. Features include a covered front porch, unfinished basement, 1-car garage, public water and sewer, and functional layout ready for your vision. Potential rental income of approximately $1,000-$1,100/month as a traditional rental or $350-$400/month per bedroom for student housing. Property is being sold strictly as-is. Cash or hard money financing only. Excellent opportunity for investors seeking a rental, student housing, or value-add project. Seller prefers a quick close.

Key facts

• Covered front porch
• Unfinished basement
• Functional layout

Tags

• COVERED FRONT PORCH
• UNFINISHED BASEMENT
• PUBLIC WATER AND SEWER
• FUNCTIONAL LAYOUT
• STRONG RENTAL POTENTIAL

Property features AI

Exterior

• Parking: Detached front-entry garage (1 car)
• Utilities: Public water; Public sewer; Electric utilities
• Home design: Semi-detached property
• Construction: Aluminum siding; Block foundation; Year built information sourced from assessor
• Exterior features: No tidal water on the property; Above- and below-grade structures

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: Radiator heating (electric); Window air conditioning units (electric); Electric hot water
• Interior features: Unfinished basement; Multiple exterior access exits (2+ access exits)

🏷️ Possibly a rental listed for sale. The $90,000 price doesn't fit this home's estimated sale value (~$227,322) 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/1.0-bath townhouse listed at $90k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).

Location & tenants

• Location reads 69/100 on livability (#186 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+; Watch: amenities D+, housing D, crime F.
• Allegany County Public Schools (other): math 15% / reading 30% proficiency, ranked #18 of 24 in MD (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Beall Elementary (math 19% / reading 30%, grade F, #260 of 860 statewide, top 33%, 451 students, 63% FRL); Mount Savage Middle (math 15% / reading 38%, grade F, #86 of 225 statewide, top 40%, 425 students, 54% FRL); Mountain Ridge High School (math 32% / reading 72%, grade D+, #100 of 222 statewide, top 47%, 736 students, 48% FRL).
• Market conditions: 102 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Allegany County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,000

Questions for the listing agent

1. Built in 1924 — 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 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?
4. 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?
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: 1.19% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.66%
• DSCR: 1.52
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $227,322
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 Washington St	0.44mi	2/1.0 (-1)	1,410 (+7%)	10mo	$95,000	$67	54
114 Candlewick Ct	0.67mi	2/1.5 (-1)	1,390 (+6%)	14mo	$240,000	$173	40

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,013
• Equity at exit: $13,419

10-year hold

• IRR: 10.7%
• Equity multiple: 1.83×
• Total profit: $20,980
• Equity at exit: $7,782

Cash invested: $25,200 (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 21532

• Home prices YoY: -24.2%
• Active inventory: 102
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,075 medium
• Mortgage (P&I): −$472
• Tax from tax record: −$95 /mo · $1,137/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $245

Break-even live

Break-even rent $765

Max offer price $90,000

Occupancy floor 72%

Sensitivity live

Price	-10% $296	-5% $270	+0% $245	+5% $219	+10% $194
Rent	-10% $160	-5% $202	+0% $245	+5% $287	+10% $330
Rate	-1.0pp $290	-0.5pp $268	base $245	+0.5pp $221	+1.0pp $198

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
Main St Frostburg, MD	2.0	1.5	1100	$1,100	$1.00	44d	1	0.73mi
55 S Broadway Frostburg, MD	3.0	1.0	1020	$1,100	$1.08	44d	1	0.82mi
2 Bob Cat Ct Frostburg, MD	2.0–4.0	1.0–2.0	965	$1,000	$1.04	44d	6	1.04mi

Listing history 8 events

1. 2026-06-19
   days on market $90,000 Active 5 DOM
2. 2026-06-18
   days on market $90,000 Active 4 DOM
3. 2026-06-17
   days on market $90,000 Active 3 DOM
4. 2026-06-16
   days on market $90,000 Active 2 DOM
5. 2026-06-15
   statusdays on market $90,000 Active 1 DOM
6. 2026-06-14
   days on market $90,000 Coming Soon 2 DOM
7. 2026-06-12
   remarks 661-char remark
8. 2026-06-12
   listed $90,000 Coming Soon 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: $1,137 · $95/mo
• Projected year-2 tax: $1,137 · $95/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 2/10 Low
• 🌡 Heat 3/10 Moderate 8 d/yr ≥89°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,896
• − Mortgage interest: −$5,041
• − Property taxes: −$1,137
• − Insurance: −$450
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$2,618
• Taxable income: $1,586
• Est. tax owed @ 24.0%: −$381
• After-tax cash flow: $2,557/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: Allegany County Public Schools
• NCES district ID: 2400030
• Math proficiency: 15% ▼ -26.00%
• Reading proficiency: 30% ▼ -20.00%
• Median HH income: $39,760
• Composite: 18.95/100
• National rank: #8854
• State rank: #18 of 24 in MD

Livability — Grahamtown

• Score: 69/100
• State rank: #186
• US rank: #8295

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Grahamtown, MD
• Population (ZIP): 13,123

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 68,778 people
• By 2030: 66,766 · -2.9%
• By 2040: 62,784 · -8.7%
• By 2050: 59,179 · -14.0%
• By 2075: 50,732 · -26.2%
• By 2100: 40,837 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Black 6% Two or more races 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Slovak 5% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+40.3) · D 28.9% · R 69.2% · Other 2.0%
• 2008→2024 swing: -14.4pp toward R · 2008: -25.9pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+38.3 2016: R+48.0 2012: R+32.9 2008: R+25.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.31%
• Current HPI: 244.5937
• 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

+900.0% since first listed

4 events — show timeline

• 2026-06-11 Coming Soon $90,000 BRIGHT MLS
• 2020-05-01 Sold (Public Records) $79,000 Public Records
• 2012-04-18 Sold (Public Records) $66,000 Public Records
• 1982-01-06 Sold (Public Records) $9,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,137 · +7.4% YoY. Source: county tax records.