108 Milburn St · Elkton, MD 21921

$210,000

3 bd · 1.0 ba · 1,280 sqft · SingleFamily public records · 66 Days on market

Built 1900 1,873 sqft lot $164/sqft · 25% below area Est $280k · 25% under

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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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.3/10.0
• Livability +3.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rehabbed 3 bed 1 bath single family in the town of Elkton available now! Home is occupied by month to month tenants who are paying $1400 per month and all utilities.

Key facts

• 1,873 sq ft lot
• Built 1900
• Listed 66 days

🏷️ Possibly a rental listed for sale. The $210,000 price doesn't fit this home's estimated sale value (~$280,132) 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 single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $407 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $197k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 4.1% in Elkton — 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 (#261 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, cost of living A; Watch: crime F, commute F.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Thomson Estates Elementary (math 8% / reading 10%, grade F, #650 of 860 statewide, top 77%, 481 students, 73% FRL); Elkton Middle (math 6% / reading 25%, grade F, #190 of 225 statewide, top 85%, 523 students, 74% FRL); Elkton High (math 32% / reading 58%, grade D-, #124 of 222 statewide, top 56%, 1,106 students, 62% FRL) — zoned schools average 70% FRL vs 37% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.3%/yr); 206 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).
• This rent runs 30% of the median local income ($86k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($197k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $197,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.03% ✓
• Cap rate: 8.62%
• Cash-on-cash: 8.30%
• DSCR: 1.37
• GRM: 8.1

CMA / ARV

• ARV (median comp): $280,132
• List price: $210,000
• Delta: -25.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 Bethel St	0.07mi	3/1.0	1,296 (+1%)	7mo	$275,000	$212	89
304 Hollingsworth St	0.43mi	3/1.0	1,152 (-10%)	3mo	$252,000	$219	61
313 King St	0.45mi	3/1.0	1,336 (+4%)	15mo	$303,000	$227	59
118 Osage St	0.64mi	3/1.0	1,268 (-1%)	14mo	$260,000	$205	57
612 N Bridge St	0.71mi	3/1.0	1,424 (+11%)	5mo	$235,000	$165	44
108 Maple Ave	0.33mi	3/2.5	1,430 (+12%)	21mo	$360,000	$252	41
80 Red Hill Rd	0.73mi	3/1.5	1,152 (-10%)	15mo	$226,000	$196	35

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 · 2.32% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.84×
• Total profit: $-9,655
• Equity at exit: $31,312

10-year hold

• IRR: 4.5%
• Equity multiple: 1.32×
• Total profit: $18,752
• Equity at exit: $18,157

Cash invested: $58,800 (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 21921

• Rents YoY: 2.3%
• Active inventory: 206
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,173 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$121 /mo · $1,452/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$456
• Net cashflow: $407

Break-even live

Break-even rent $1,658

Max offer price $210,000

Occupancy floor 76%

Sensitivity live

Price	-10% $526	-5% $466	+0% $407	+5% $347	+10% $288
Rent	-10% $235	-5% $321	+0% $407	+5% $493	+10% $578
Rate	-1.0pp $512	-0.5pp $460	base $407	+0.5pp $352	+1.0pp $297

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
106 Gooseneck Ct Elkton, MD	3.0	1.0	1000	$1,550	$1.55	45d	1	1.11mi
124 E Village Rd Elkton, MD	3.0	1.5	1152	$1,850	$1.61	45d	1	1.45mi
110 Michaels Way Elkton, MD	3.0	2.5	1200	$2,800	$2.33	6d	1	1.46mi
150 E Village Rd Elkton, MD	3.0	1.5	1224	$1,950	$1.59	24d	1	1.49mi
156 E Village Rd Elkton, MD	3.0	1.5	1232	$2,200	$1.79	1d	1	1.50mi

Listing history 15 events

1. 2026-06-21
   days on market $210,000 Active 66 DOM
2. 2026-06-18
   days on market $210,000 Active 63 DOM
3. 2026-06-17
   days on market $210,000 Active 62 DOM
4. 2026-06-16
   days on market $210,000 Active 61 DOM
5. 2026-06-15
   days on market $210,000 Active 60 DOM
6. 2026-06-13
   days on market $210,000 Active 58 DOM
7. 2026-06-09
   days on market $210,000 Active 54 DOM
8. 2026-06-08
   days on market $210,000 Active 53 DOM
9. 2026-06-07
   days on market $210,000 Active 52 DOM
10. 2026-06-04
    days on market $210,000 Active 49 DOM
11. 2026-06-03
    days on market $210,000 Active 48 DOM
12. 2026-06-02
    days on market $210,000 Active 47 DOM
13. 2026-06-01
    days on market $210,000 Active 46 DOM
14. 2026-05-31
    days on market $210,000 Active 45 DOM
15. 2026-04-16
    listed $210,000 Active 165-char remark

    Show marketing remark (165 chars)

    Rehabbed 3 bed 1 bath single family in the town of Elkton available now! Home is occupied by month to month tenants who are paying $1400 per month and all utilities.

ⓘ 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: $1,452 · $121/mo
• Projected year-2 tax: $1,871 · $156/mo
• Expected delta: +$418/yr (+$35/mo · 28.8%)

ⓘ 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 7/10 Severe 7 d/yr ≥105°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,073
• − Mortgage interest: −$11,763
• − Property taxes: −$1,452
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,086
• − Management: −$2,086
• − Depreciation: −$6,109
• Taxable income: $1,527
• Est. tax owed @ 24.0%: −$367
• After-tax cash flow: $4,514/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: Cecil County Public Schools
• NCES district ID: 2400240
• Math proficiency: 15% ▼ -21.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $66,544
• Composite: 21.51/100
• National rank: #8322
• State rank: #15 of 24 in MD

Livability — Elkton

• Score: 65/100
• State rank: #261
• US rank: #13293

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Elkton, MD
• County: Cecil County · 65,041 people
• City population: 45,527
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• Population (ZIP): 45,527
• Household income: $85,775
• Rent vs Own: 30.2% rent · 69.8% own
• Severe rent burden: 1438.0

Population outlook (Cecil County) Hauer SSP2

• Today (2025): 105,877 people
• By 2030: 106,905 · +1.0%
• By 2040: 107,156 · +1.2%
• By 2050: 104,170 · -1.6%
• By 2075: 95,771 · -9.5%
• By 2100: 82,381 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (76%)
• Race & ethnicity: White 76% Black 9% Two or more races 8% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2%
• Common ancestry: Romanian 6% Slovak 2% Italian 1%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% Other Asian/Pacific 1%

Political lean MEDSL · Cecil

• 2024 margin: Solid R (+30.9) · D 33.5% · R 64.4% · Other 2.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -14.6pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.6 2016: R+35.3 2012: R+20.4 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -192.67%
• Current HPI: 253.7641
• Rent YoY: ▲ 2.32%
• Metro: Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
• 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

1 event — show timeline

• 2026-04-16 Listed $210,000 BRIGHT MLS

Property tax history

+0.7%/yr

Latest (2025): $1,452 · +5.0% YoY. Source: county tax records.