3971 Oyster House · Broomes Island, MD 20615

$284,900

5 bd · 1.0 ba · 1,764 sqft · SingleFamily public records · 49 Days on market

Built 1954 0.38 ac lot $162/sqft · 39% below area Est $469k · 39% under

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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 +15.0/15.0
• Cash flow +7.0/30.0
• Appreciation +5.7/10.0
• Schools +3.3/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +1.3/10.0
• DSCR +1.2/10.0

Listing remarks MLS

This distinctive A-frame property presents a compelling investment opportunity, ideally located near Island Creek—a peaceful canal that enhances the area’s charm and appeal. Offering 1,764 finished square feet, the home features five spacious bedrooms and one full bathroom, making it adaptable for a variety of uses, including long-term rentals or vacation stays. Situated on a generous 0.38-acre lot, the property includes a screened-in porch and ample outdoor space for relaxing or entertaining. The home is in need of significant renovations, providing the perfect canvas for investors or buyers with vision to restore and customize it to their preferences. While it is not directly waterfront, access to the nearby canal offers a unique advantage for outdoor enthusiasts and those seeking a serene environment. Properties near water often command higher interest, stronger rental potential, and long-term appreciation. Additional features such as the existing fireplace add character and warmth, while off-street parking ensures convenience for residents and guests. The aluminum siding contributes to lower maintenance requirements over time. Beyond its investment potential, this property also presents an excellent opportunity to be transformed into a private residence. With thoughtful updates and improvements, it can become a charming and personalized home in a desirable, nature-oriented setting. Whether pursuing rental income or creating a private retreat, this property offers substantial upside and long-term value. Property being sold AS IS.

Key facts

• 0.38 acre lot
• Built 1954
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-478 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (29.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $180k (36.9% below list).
• Recommended offer: $180k (36.9% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 2.4% in Broomes Island — 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 58/100 on livability (#390 in MD) — a working-class tenant base; expect higher turnover. Strengths: employment A+, housing A+, crime A; Watch: schools D-, amenities F, commute F.
• Calvert County Public Schools (rural): math 23% / reading 44% proficiency, ranked #5 of 24 in MD (top 21%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: 5 active listings in the ZIP; 101 units permitted in Calvert County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($2k loan paydown + $4k appreciation (1.4% local appreciation)).
• By year 6, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; major wind risk, 79% chance of damaging wind over 30y; extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,841 (36.9% 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 49 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1954 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.63% ✗
• Cap rate: 4.56%
• Cash-on-cash: -6.19%
• DSCR: 0.72
• GRM: 13.2

CMA / ARV

• ARV (median comp): $468,745
• List price: $284,900
• Delta: -39.22%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8630 Patuxent Ave	0.39mi	4/2.0 (-1)	1,848 (+5%)	22mo	$600,000	$325	47

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

1.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.75×
• Total profit: $-19,749
• Equity at exit: $103,005

10-year hold

• IRR: 0.4%
• Equity multiple: 1.05×
• Total profit: $3,774
• Equity at exit: $141,442

Cash invested: $79,772 (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 20615

• Home prices YoY: 1.3%
• Active inventory: 5
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $1,798 medium
• Mortgage (P&I): −$1,494
• Tax from tax record: −$220 /mo · $2,638/yr
• Insurance: −$119
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $-478

Break-even live

Break-even rent $2,404

Max offer price $200,413

Occupancy floor —

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $284,900 Active 49 DOM
2. 2026-06-17
   pricedays on market $284,900 Active 48 DOM
3. 2026-06-16
   days on market $299,900 Active 47 DOM
4. 2026-06-15
   days on market $299,900 Active 46 DOM
5. 2026-06-13
   days on market $299,900 Active 44 DOM
6. 2026-06-09
   days on market $299,900 Active 40 DOM
7. 2026-06-08
   days on market $299,900 Active 39 DOM
8. 2026-06-07
   days on market $299,900 Active 38 DOM
9. 2026-06-04
   days on market $299,900 Active 35 DOM
10. 2026-06-03
    days on market $299,900 Active 34 DOM
11. 2026-06-02
    days on market $299,900 Active 33 DOM
12. 2026-06-01
    days on market $299,900 Active 32 DOM
13. 2026-05-31
    days on market $299,900 Active 31 DOM
14. 2026-04-30
    status Active 1570-char remark

    Show marketing remark (1570 chars)

    This distinctive A-frame property presents a compelling investment opportunity, ideally located near Island Creek—a peaceful canal that enhances the area’s charm and appeal. Offering 1,764 finished square feet, the home features five spacious bedrooms and one full bathroom, making it adaptable for a variety of uses, including long-term rentals or vacation stays. Situated on a generous 0.38-acre lot, the property includes a screened-in porch and ample outdoor space for relaxing or entertaining. The home is in need of significant renovations, providing the perfect canvas for investors or buyers with vision to restore and customize it to their preferences. While it is not directly waterfront, access to the nearby canal offers a unique advantage for outdoor enthusiasts and those seeking a serene environment. Properties near water often command higher interest, stronger rental potential, and long-term appreciation. Additional features such as the existing fireplace add character and warmth, while off-street parking ensures convenience for residents and guests. The aluminum siding contributes to lower maintenance requirements over time. Beyond its investment potential, this property also presents an excellent opportunity to be transformed into a private residence. With thoughtful updates and improvements, it can become a charming and personalized home in a desirable, nature-oriented setting. Whether pursuing rental income or creating a private retreat, this property offers substantial upside and long-term value. Property being sold AS IS.

15. 2026-04-22
    listed $299,900 Active 1570-char remark

    Show marketing remark (1570 chars)

    This distinctive A-frame property presents a compelling investment opportunity, ideally located near Island Creek—a peaceful canal that enhances the area’s charm and appeal. Offering 1,764 finished square feet, the home features five spacious bedrooms and one full bathroom, making it adaptable for a variety of uses, including long-term rentals or vacation stays. Situated on a generous 0.38-acre lot, the property includes a screened-in porch and ample outdoor space for relaxing or entertaining. The home is in need of significant renovations, providing the perfect canvas for investors or buyers with vision to restore and customize it to their preferences. While it is not directly waterfront, access to the nearby canal offers a unique advantage for outdoor enthusiasts and those seeking a serene environment. Properties near water often command higher interest, stronger rental potential, and long-term appreciation. Additional features such as the existing fireplace add character and warmth, while off-street parking ensures convenience for residents and guests. The aluminum siding contributes to lower maintenance requirements over time. Beyond its investment potential, this property also presents an excellent opportunity to be transformed into a private residence. With thoughtful updates and improvements, it can become a charming and personalized home in a desirable, nature-oriented setting. Whether pursuing rental income or creating a private retreat, this property offers substantial upside and long-term value. Property being sold AS IS.

16. 2026-04-22
    historical 1570-char remark

    Show marketing remark (1570 chars)

    This distinctive A-frame property presents a compelling investment opportunity, ideally located near Island Creek—a peaceful canal that enhances the area’s charm and appeal. Offering 1,764 finished square feet, the home features five spacious bedrooms and one full bathroom, making it adaptable for a variety of uses, including long-term rentals or vacation stays. Situated on a generous 0.38-acre lot, the property includes a screened-in porch and ample outdoor space for relaxing or entertaining. The home is in need of significant renovations, providing the perfect canvas for investors or buyers with vision to restore and customize it to their preferences. While it is not directly waterfront, access to the nearby canal offers a unique advantage for outdoor enthusiasts and those seeking a serene environment. Properties near water often command higher interest, stronger rental potential, and long-term appreciation. Additional features such as the existing fireplace add character and warmth, while off-street parking ensures convenience for residents and guests. The aluminum siding contributes to lower maintenance requirements over time. Beyond its investment potential, this property also presents an excellent opportunity to be transformed into a private residence. With thoughtful updates and improvements, it can become a charming and personalized home in a desirable, nature-oriented setting. Whether pursuing rental income or creating a private retreat, this property offers substantial upside and long-term value. Property being sold AS IS.

ⓘ 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: $2,638 · $220/mo
• Projected year-2 tax: $2,871 · $239/mo
• Expected delta: +$234/yr (+$19/mo · 8.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 7/10 Severe 79% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,581
• − Mortgage interest: −$15,959
• − Property taxes: −$2,638
• − Insurance: −$2,222
• − Repairs & maintenance: −$1,726
• − Management: −$1,726
• − Depreciation: −$8,288
• Taxable loss: −$10,978
• Est. tax savings @ 24.0%: +$2,635
• After-tax cash flow: $-3,104/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: Calvert County Public Schools
• NCES district ID: 2400150
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $94,392
• Composite: 33.27/100
• National rank: #5511
• State rank: #5 of 24 in MD

Livability — Broomes Island

• Score: 58/100
• State rank: #390
• US rank: #21229

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Broomes Island, MD
• City population: 422
• Population (ZIP): 422

Population outlook (Calvert County) Hauer SSP2

• Today (2025): 94,825 people
• By 2030: 96,197 · +1.4%
• By 2040: 96,954 · +2.2%
• By 2050: 94,628 · -0.2%
• By 2075: 91,576 · -3.4%
• By 2100: 83,431 · -12.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (95%)
• Race & ethnicity: White 95% Two or more races 5%
• Common ancestry: Lithuanian 3% Scottish 2%
• Languages at home: 96% English-only · Spanish 4%

Political lean MEDSL · Calvert

• 2024 margin: R (+11.0) · D 43.5% · R 54.5% · Other 2.0%
• 2008→2024 swing: -4.6pp toward R · 2008: -6.3pp · 2024: -11.0pp
• All cycles: 2024: R+11.0 2020: R+5.6 2016: R+18.4 2012: R+8.2 2008: R+6.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 1.38%
• Current HPI: 110.8392
• 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

3 events — show timeline

• 2026-04-30 Relisted — BRIGHT MLS
• 2026-04-22 Listing Removed — BRIGHT MLS
• 2026-04-22 Listed $299,900 BRIGHT MLS

Property tax history

+3.4%/yr

Latest (2025): $2,638 · +7.5% YoY. Source: county tax records.