4874 One Old Rte #50

Vienna, MD 21869

$72,600B+

3 bd · 1.0 ba · 840 sqft · Built 1955 · SingleFamily · Pending · 52 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,351/mo
• Mortgage (P&I): −$381
• Tax + insurance: −$105
• HOA: −$0
• Vac / Maint / Mgmt: −$284
• Net cashflow: $582/mo
• Annual: $6,985/yr
• Cap rate: 15.91%
• Cash-on-cash: 34.36%
• DSCR: 2.53
• 1% rule: 1.86%
• Cash to close: $20,328

Investor read

• This is a 3-bed/1.0-bath single-family listed at $73k.
• At list price, monthly cash flow is $582 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• It's been on market 52 days — a 3% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $70k (3.0% below list) — sets the bar for market timing.
• In year one you build about $7k of equity ($502 loan paydown + $6k appreciation (8.5% local appreciation)).
• Location reads 60/100 on livability (#342 in MD) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A-; Watch: schools F, crime F, amenities 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.
• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 7 active listings in the ZIP; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• 5 sale attempts since 16y ago; this cycle's ask has dropped $31k (30%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• At projected returns (8.5% appreciation + 3.0% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Questions for listing agent

• It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
• Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
• Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?