9717-3 Village Ln Unit 9709C · West Ocean City, MD 21842

$359,990

3 bd · 2.5 ba · 1,768 sqft · Condo · 83 Days on market

Built 2004 Good condition $204/sqft · 6% below area Est $384k · 6% under $525/mo HOA · 18% of rent ↓ 3% since listing

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Why this score? — see what drove the D- 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).

• ARV discount +10.3/15.0
• Cash flow +6.2/30.0
• Schools +4.9/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Key facts

• $525 HOA
• Community pool
• Built 2004

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $360k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-653 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $265k (26.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $299k (17.0% below list).
• Recommended offer: $265k (26.3% below list) — sets the bar for cash-flow.
• Cap rate 4.1% vs local median 2.8% in West Ocean City — 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 78/100 on livability (#69 in MD, #2,499 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities C-, commute F, cost of living D-.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ocean City Elementary (math 37% / reading 47%, grade F, #84 of 860 statewide, top 10%, 521 students, 44% FRL); Stephen Decatur Middle (math 24% / reading 43%, grade F, #53 of 225 statewide, top 24%, 697 students, 50% FRL); Stephen Decatur High (math 64% / reading 78%, grade B+, #37 of 222 statewide, top 17%, 1,431 students, 42% FRL).
• Market conditions: 899 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).
• This rent runs 45% of the median local income ($80k/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 $2k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $265,436 (26.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 4.11%
• Cash-on-cash: -7.78%
• DSCR: 0.65
• GRM: 10.0

CMA / ARV

• ARV (median comp): $383,718
• List price: $359,990
• Delta: -6.18%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12 Coastal Dr	0.51mi	3/2.0	1,728 (-2%)	3mo	$360,000	$208	68
12912 Pine St	1.19mi	3/2.0	1,752 (-1%)	0mo	$400,000	$228	61
18 Coastal Dr	0.51mi	3/2.0	1,648 (-7%)	2mo	$335,000	$203	61
12704 Whisper Trce	1.02mi	3/2.0	1,639 (-7%)	4mo	$565,000	$345	48
16 Windswept Dr	0.68mi	3/2.0	1,528 (-14%)	2mo	$412,500	$270	42
10 Windswept Dr	0.65mi	3/2.0	1,456 (-18%)	2mo	$385,777	$265	41
10800 Navy Page Ln #206	1.14mi	3/2.5	2,112 (+20%)	0mo	$549,000	$260	40
10800 Navy Page Ln #408	1.14mi	3/2.5	2,133 (+21%)	2mo	$540,000	$253	39
10800 Navy Page Ln #104	1.14mi	3/2.5	2,133 (+21%)	3mo	$549,000	$257	37
9823 Golf Course Rd #10	0.73mi	3/3.5	2,175 (+23%)	2mo	$460,000	$211	36
12907 Sand Bar Ln #2	1.08mi	4/3.5 (+1)	2,135 (+21%)	4mo	$705,000	$330	28
13006 Bowline Ln #4	1.04mi	4/3.5 (+1)	2,160 (+22%)	4mo	$635,000	$294	28

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: -29.8%
• Equity multiple: 0.01×
• Total profit: $-99,584
• Equity at exit: $53,676

10-year hold

• IRR: -30.2%
• Equity multiple: -0.38×
• Total profit: $-138,812
• Equity at exit: $31,125

Cash invested: $100,797 (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 →

Active competition Active MLS

• For sale now: 1 active
• Median asking: $539,950 ($248/sqft)
• Median days on market: 100 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -12.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 21842

• Home prices YoY: -5.0%
• Active inventory: 899
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,987 medium
• Mortgage (P&I): −$1,888
• Tax est. 1.5%: −$450 /mo · $5,400/yr
• Insurance: −$150
• HOA: −$525
• Vacancy / Maint / Mgmt: −$627
• Net cashflow: $-653

Break-even live

Break-even rent $3,814

Max offer price $265,436

Occupancy floor —

Sensitivity live

Price	-10% $-405	-5% $-529	+0% $-653	+5% $-778	+10% $-902
Rent	-10% $-889	-5% $-771	+0% $-653	+5% $-535	+10% $-418
Rate	-1.0pp $-472	-0.5pp $-562	base $-653	+0.5pp $-747	+1.0pp $-842

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: $89,998
• Closing costs: $10,800
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 White Crane Dr Berlin, MD	4.0	3.0	1900	$2,950	$1.55	6d	1	0.82mi
13002 Bowline Ln #5 Ocean City, MD	4.0	3.5	2160	$3,500	$1.62	139d	1	1.02mi
12921 Riggin Ridge Rd Ocean City, MD	4.0	2.0	2500	$3,000	$1.20	6d	1	1.38mi

Property features AI

Finance

• Other: Lot and lot dimensions per assessorLocated outside city limitsDirections: GPS
• HOA & community: Condo/Coop fee of $525 per month

Exterior

• Parking: Parking lot
• Utilities: Public waterPublic sewerNatural gas serviceElectric for cooling
• Home design: Interior townhouse/rowhousePart of Ocean Village at Old (building name)Ownership is fee simple
• Construction: Vinyl sidingCrawl space foundationAbove grade and below grade structures notedFinished above-grade area per assessor
• Exterior features: Community poolNot located in a federal flood zoneVacation rental permitted

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathroomsOne half bathroom on the main level
• Heating & cooling: Heat pump(s) heatingCentral air conditioning (electric)Natural gas hot water
• Interior features: Living area measured per assessorNo basement

HOA detail $525/mo · $6,300/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 48 events

1. 2026-08-06
   price $359,990 Active 83 DOM
2. 2026-08-06
   days on market $359,995 Active 83 DOM
3. 2026-08-05
   days on market $359,995 Active 82 DOM
4. 2026-08-04
   days on market $359,995 Active 81 DOM
5. 2026-08-03
   days on market $359,995 Active 80 DOM
6. 2026-07-31
   days on market $359,995 Active 77 DOM
7. 2026-07-30
   days on market $359,995 Active 76 DOM
8. 2026-07-29
   days on market $359,995 Active 75 DOM
9. 2026-07-27
   days on market $359,995 Active 73 DOM
10. 2026-07-25
    days on market $359,995 Active 71 DOM
11. 2026-07-24
    days on market $359,995 Active 70 DOM
12. 2026-07-23
    days on market $359,995 Active 69 DOM
13. 2026-07-22
    days on market $359,995 Active 68 DOM
14. 2026-07-21
    pricedays on market $359,995 Active 67 DOM
15. 2026-07-18
    days on market $366,005 Active 64 DOM
16. 2026-07-16
    days on market $366,005 Active 62 DOM
17. 2026-07-16
    days on market $366,005 Active 61 DOM
18. 2026-07-14
    days on market $366,005 Active 60 DOM
19. 2026-07-13
    days on market $366,005 Active 59 DOM
20. 2026-07-12
    days on market $366,005 Active 58 DOM
21. 2026-07-11
    days on market $366,005 Active 57 DOM
22. 2026-07-10
    days on market $366,005 Active 56 DOM
23. 2026-07-09
    days on market $366,005 Active 55 DOM
24. 2026-07-08
    days on market $366,005 Active 54 DOM
25. 2026-07-07
    days on market $366,005 Active 53 DOM
26. 2026-07-06
    days on market $366,005 Active 52 DOM
27. 2026-07-05
    days on market $366,005 Active 51 DOM
28. 2026-07-04
    days on market $366,005 Active 50 DOM
29. 2026-07-03
    days on market $366,005 Active 49 DOM
30. 2026-07-02
    days on market $366,005 Active 48 DOM
31. 2026-07-01
    days on market $366,005 Active 47 DOM
32. 2026-06-30
    days on market $366,005 Active 46 DOM
33. 2026-06-29
    days on market $366,005 Active 45 DOM
34. 2026-06-28
    days on market $366,005 Active 44 DOM
35. 2026-06-28
    days on market $366,005 Active 43 DOM
36. 2026-06-27
    days on market $366,005 Active 42 DOM
37. 2026-06-25
    pricedays on market $366,005 Active 40 DOM
38. 2026-06-23
    days on market $367,900 Active 38 DOM
39. 2026-06-22
    days on market $367,900 Active 37 DOM
40. 2026-06-18
    days on market $367,900 Active 34 DOM
41. 2026-06-17
    days on market $367,900 Active 33 DOM
42. 2026-06-16
    days on market $367,900 Active 32 DOM
43. 2026-06-15
    days on market $367,900 Active 31 DOM
44. 2026-06-14
    days on market $367,900 Active 29 DOM
45. 2026-06-13
    days on market $367,900 Active 28 DOM
46. 2026-06-10
    days on market $367,900 Active 26 DOM
47. 2026-06-09
    days on market $367,900 Active 25 DOM
48. 2026-06-09
    listed $367,900 Active 24 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 13% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% 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: $35,838
• − Mortgage interest: −$20,165
• − Property taxes: −$5,400
• − Insurance: −$1,800
• − Repairs & maintenance: −$2,867
• − Management: −$2,867
• − HOA: −$6,300
• − Depreciation: −$10,472
• Taxable loss: −$14,033
• Est. tax savings @ 24.0%: +$3,368
• After-tax cash flow: $-4,473/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 · 13 photos

Good 80/100 Cosmetic rehab Est. rehab $8,840–$26,520 screening

This townhouse is in good condition with a good exterior and interior. It has a good curb appeal and is move-in ready.

Value-add opportunities

• Resale Paint the exterior — Fresh paint can make a significant difference in curb appeal ↑
• Resale Replace outdated light fixtures — Modern light fixtures can enhance the home's appeal ↑
• Rental Install smart home devices — Smart home devices can attract tech-savvy renters ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 49/100

Zoned Schools

Elementary Ocean City Elementary F MD #84/860 Nat'l #17,861/41,679 Middle Stephen Decatur Middle F MD #53/225 Nat'l #7,937/14,009 High Stephen Decatur High B+ MD #37/222 Nat'l #2,035/17,239

Schools (NCES district)

• District: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

B Composite livability gradescore 78/100

Livability — West Ocean City

• Score: 78/100
• State rank: #69
• US rank: #2499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Ocean City, MD
• County: Worcester County · 51,363 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 11,226
• Household income: $79,876
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 12% of renters

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Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (86%)
• Race & ethnicity: White 86% Hispanic / Latino 8% Two or more races 5% Black 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 6% Slovak 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China
• Languages at home: 87% English-only · Spanish 7% Russian/Polish/Slavic 3% Other Indo-European 2%

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Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -25.65%
• Current HPI: 482.18
• Rent YoY: —
• Metro: Salisbury, MD-DE
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

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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

Property features AI

Finance

• Other: Lot and lot dimensions per assessorLocated outside city limitsDirections: GPS
• HOA & community: Condo/Coop fee of $525 per month

Exterior

• Parking: Parking lot
• Utilities: Public waterPublic sewerNatural gas serviceElectric for cooling
• Home design: Interior townhouse/rowhousePart of Ocean Village at Old (building name)Ownership is fee simple
• Construction: Vinyl sidingCrawl space foundationAbove grade and below grade structures notedFinished above-grade area per assessor
• Exterior features: Community poolNot located in a federal flood zoneVacation rental permitted

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: Two full bathroomsOne half bathroom on the main level
• Heating & cooling: Heat pump(s) heatingCentral air conditioning (electric)Natural gas hot water
• Interior features: Living area measured per assessorNo basement

Price history

-2.9% since first listed

4 events — show timeline

• 2026-06-08 Price Changed $367,900 BRIGHT MLS
• 2026-06-02 Price Changed $368,900 BRIGHT MLS
• 2026-05-18 Price Changed $369,900 BRIGHT MLS
• 2026-05-15 Listed $379,000 BRIGHT MLS