3001 Steamer Run · Cambridge, MD 21613

$115,000

3 bd · 2.0 ba · 1,184 sqft · SingleFamily · 60 Days on market

Built 2019 8,712 sqft lot $97/sqft · 39% below area Est $188k · 39% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled in the charming ROUTE 50 community, this delightful ranch-style home, built in 2019, offers a perfect blend of modern comfort and neighborhood warmth. With three spacious bedrooms and two full bathrooms, this residence is designed for both relaxation and entertaining. The inviting layout flows seamlessly, creating a cozy atmosphere that feels just like home. The surrounding community is rich with amenities that enhance everyday living. Enjoy leisurely strolls through nearby parks, where lush green spaces invite picnics and play. The area boasts excellent public services, ensuring convenience and peace of mind for all residents. Outdoor enthusiasts will love the ample opportunities for recreation, whether it's a morning jog or an afternoon spent exploring nature trails. The neighborhood is known for its friendly atmosphere, where neighbors become friends and community events bring everyone together. With a generous lot size of 0.2 acres, there's plenty of room for outdoor activities or gardening. The home features a driveway and off-street parking, making it easy for guests to visit. This property is not just a house; it's a place where memories are made, laughter is shared, and a sense of belonging thrives. Experience the warmth of ROUTE 50 and make this charming residence your new home.

Key facts

• Lush green spaces
• Driveway
• Nearby parks

Tags

• ROUTE 50 COMMUNITY
• NEARBY PARKS
• LUSH GREEN SPACES
• NATURE TRAILS
• GENEROUS LOT SIZE
• DRIVEWAY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $729 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 4.2% in Cambridge — 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 (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime 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.
• Market conditions: 294 active listings in the ZIP; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $62k; list at $115k implies a 84% gain — meaningful room to come down on a strong offer.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.68% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.18%
• DSCR: 2.21
• GRM: 5.0

CMA / ARV

• ARV (median comp): $188,163
• List price: $115,000
• Delta: -38.88%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2909 Ram Rd	0.17mi	3/2.0	1,200 (+1%)	10mo	$83,900	$70	82
5294 Bucktown Rd	0.21mi	3/2.0	1,160 (-2%)	9mo	$245,000	$211	79
2907 Ram Rd	0.17mi	2/2.0 (-1)	1,200 (+1%)	24mo	$34,900	$29	65

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: 21.2%
• Equity multiple: 1.86×
• Total profit: $27,849
• Equity at exit: $17,147

10-year hold

• IRR: 29.3%
• Equity multiple: 3.61×
• Total profit: $84,186
• Equity at exit: $9,943

Cash invested: $32,200 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 294
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,929 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $729

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 57%

Sensitivity live

Price	-10% $809	-5% $769	+0% $729	+5% $690	+10% $650
Rent	-10% $577	-5% $653	+0% $729	+5% $806	+10% $882
Rate	-1.0pp $787	-0.5pp $759	base $729	+0.5pp $700	+1.0pp $669

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-21
   days on market $115,000 Active 60 DOM
2. 2026-06-18
   days on market $115,000 Active 58 DOM
3. 2026-06-17
   days on market $115,000 Active 57 DOM
4. 2026-06-16
   days on market $115,000 Active 56 DOM
5. 2026-06-15
   days on market $115,000 Active 55 DOM
6. 2026-06-13
   days on market $115,000 Active 53 DOM
7. 2026-06-12
   days on market $115,000 Active 52 DOM
8. 2026-06-09
   days on market $115,000 Active 49 DOM
9. 2026-06-08
   days on market $115,000 Active 48 DOM
10. 2026-06-07
    days on market $115,000 Active 47 DOM
11. 2026-06-07
    days on market $115,000 Active 46 DOM
12. 2026-06-04
    days on market $115,000 Active 43 DOM
13. 2026-06-02
    days on market $115,000 Active 42 DOM
14. 2026-06-01
    days on market $115,000 Active 41 DOM
15. 2026-05-31
    days on market $115,000 Active 40 DOM
16. 2026-05-31
    days on market $115,000 Active 39 DOM
17. 2026-04-21
    listed $115,000 Active 1316-char remark

    Show marketing remark (1316 chars)

    Nestled in the charming ROUTE 50 community, this delightful ranch-style home, built in 2019, offers a perfect blend of modern comfort and neighborhood warmth. With three spacious bedrooms and two full bathrooms, this residence is designed for both relaxation and entertaining. The inviting layout flows seamlessly, creating a cozy atmosphere that feels just like home. The surrounding community is rich with amenities that enhance everyday living. Enjoy leisurely strolls through nearby parks, where lush green spaces invite picnics and play. The area boasts excellent public services, ensuring convenience and peace of mind for all residents. Outdoor enthusiasts will love the ample opportunities for recreation, whether it's a morning jog or an afternoon spent exploring nature trails. The neighborhood is known for its friendly atmosphere, where neighbors become friends and community events bring everyone together. With a generous lot size of 0.2 acres, there's plenty of room for outdoor activities or gardening. The home features a driveway and off-street parking, making it easy for guests to visit. This property is not just a house; it's a place where memories are made, laughter is shared, and a sense of belonging thrives. Experience the warmth of ROUTE 50 and make this charming residence your new home.

18. 2021-05-07
    soldstatus $62,500 Closed 517-char remark

    Show marketing remark (517 chars)

    Like new home (2019) ready for immediate occupancy! This adorable home offers a spacious open floor plan, modern design and color scheme throughout, large master bathroom with walk-in closet, large kitchen with spacious island, a newly built 8x8 deck perfect for grilling, new large shed, and a new washer and dryer just to name a few of its amenities. Safety features include a fire suppression system. Water, Sewer, taxes, and trash pickup all included in ground rent! Minutes to Route 50. Easy living on the shore!

19. 2021-05-06
    status Pending 517-char remark

    Show marketing remark (517 chars)

    Like new home (2019) ready for immediate occupancy! This adorable home offers a spacious open floor plan, modern design and color scheme throughout, large master bathroom with walk-in closet, large kitchen with spacious island, a newly built 8x8 deck perfect for grilling, new large shed, and a new washer and dryer just to name a few of its amenities. Safety features include a fire suppression system. Water, Sewer, taxes, and trash pickup all included in ground rent! Minutes to Route 50. Easy living on the shore!

20. 2021-04-13
    historical Active Under Contract 517-char remark

    Show marketing remark (517 chars)

    Like new home (2019) ready for immediate occupancy! This adorable home offers a spacious open floor plan, modern design and color scheme throughout, large master bathroom with walk-in closet, large kitchen with spacious island, a newly built 8x8 deck perfect for grilling, new large shed, and a new washer and dryer just to name a few of its amenities. Safety features include a fire suppression system. Water, Sewer, taxes, and trash pickup all included in ground rent! Minutes to Route 50. Easy living on the shore!

21. 2021-03-16
    price $65,000 517-char remark

    Show marketing remark (517 chars)

    Like new home (2019) ready for immediate occupancy! This adorable home offers a spacious open floor plan, modern design and color scheme throughout, large master bathroom with walk-in closet, large kitchen with spacious island, a newly built 8x8 deck perfect for grilling, new large shed, and a new washer and dryer just to name a few of its amenities. Safety features include a fire suppression system. Water, Sewer, taxes, and trash pickup all included in ground rent! Minutes to Route 50. Easy living on the shore!

22. 2021-02-18
    listed $68,000 Active 517-char remark

    Show marketing remark (517 chars)

    Like new home (2019) ready for immediate occupancy! This adorable home offers a spacious open floor plan, modern design and color scheme throughout, large master bathroom with walk-in closet, large kitchen with spacious island, a newly built 8x8 deck perfect for grilling, new large shed, and a new washer and dryer just to name a few of its amenities. Safety features include a fire suppression system. Water, Sewer, taxes, and trash pickup all included in ground rent! Minutes to Route 50. Easy living on the shore!

23. 2020-08-19
    soldstatus $56,000 Closed
24. 2020-06-08
    price $60,000
25. 2020-04-05
    price $65,000
26. 2020-03-13
    listed $70,000 Active
27. 2008-11-05
    historical
28. 2008-11-04
    listed
29. 2008-11-04
    price $53,000 Sold
30. 2008-11-04
    soldstatus $50,000 Sold
31. 2008-11-03
    historical
32. 2008-07-01
    price $55,000
33. 2008-03-21
    listed $58,000

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

Taxation est. · year 1

• Rental income: $23,151
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − Depreciation: −$3,345
• Taxable income: $7,360
• Est. tax owed @ 24.0%: −$1,766
• After-tax cash flow: $6,986/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• 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

+98.3% since first listed

17 events — show timeline

• 2026-04-21 Listed $115,000 BRIGHT MLS
• 2021-05-07 Sold (MLS) $62,500 BRIGHT MLS
• 2021-05-06 Pending — BRIGHT MLS
• 2021-04-13 Contingent — BRIGHT MLS
• 2021-03-16 Price Changed $65,000 BRIGHT MLS
• 2021-02-18 Listed $68,000 BRIGHT MLS
• 2020-08-19 Sold (MLS) $56,000 BRIGHT MLS
• 2020-06-08 Price Changed $60,000 BRIGHT MLS
• 2020-04-05 Price Changed $65,000 BRIGHT MLS
• 2020-03-13 Listed $70,000 BRIGHT MLS
• 2008-11-05 Delisted — MRIS
• 2008-11-04 Listed — MRIS
• 2008-11-04 Sold (MLS) $50,000 MRIS
• 2008-11-04 Price Changed $53,000 MRIS
• 2008-11-03 Delisted — MRIS
• 2008-07-01 Price Changed $55,000 MRIS
• 2008-03-21 Listed $58,000 MRIS