3001 Steamer Run · Cambridge, MD 21613

$115,000

3 bd · 2.0 ba · 1,184 sqft · SingleFamily · 99 Days on market

Built 2019 Fair condition 8,712 sqft lot $97/sqft · 39% below area Est $189k · 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 +2.2/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

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!

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. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $609 ($7k/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: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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, crime F, employment 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.
• Zoned schools: Maple Elementary School (math 5% / reading 8%, grade F, #740 of 860 statewide, top 87%, 392 students, 100% FRL); Mace'S Lane Middle School (math 2% / reading 16%, grade F, #212 of 225 statewide, top 95%, 481 students, 100% FRL); Cambridge-South Dorchester High School (math 22% / reading 42%, grade F, #151 of 222 statewide, top 68%, 784 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 336 active listings in the ZIP; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• This rent runs 40% of the median local income ($53k/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 $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 ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($105k) 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 $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.55% ✓
• Cap rate: 12.65%
• Cash-on-cash: 22.70%
• DSCR: 2.01
• GRM: 5.4

CMA / ARV

• ARV (median comp): $188,806
• List price: $115,000
• Delta: -39.09%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 5 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%)	11mo	$83,900	$70	81
5294 Bucktown Rd	0.21mi	3/2.0	1,160 (-2%)	11mo	$245,000	$211	78
5326 Suburban Dr	0.63mi	3/2.0	960 (-19%)	20mo	$270,000	$281	29
5306 Cedar Dr	0.66mi	3/1.0	964 (-19%)	14mo	$205,000	$213	28
5540 Bonnie Brook Rd	0.98mi	2/1.0 (-1)	1,040 (-12%)	21mo	$437,500	$421	19

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: 15.6%
• Equity multiple: 1.63×
• Total profit: $20,179
• Equity at exit: $17,147

10-year hold

• IRR: 24.3%
• Equity multiple: 3.10×
• Total profit: $67,624
• 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 →

Active competition Active MLS

• For sale now: 2 active · 2 under contract
• Median asking: $227,495 ($157/sqft)
• Median days on market: 254 d
• This list price: 50% of active listings are priced below it
• ARV vs active asking: +1.3% vs current asking $/sqft

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

ZIP-level market 21613

• Home prices YoY: -25.1%
• Active inventory: 336
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,777 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $609

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 61%

Sensitivity live

Price	-10% $688	-5% $649	+0% $609	+5% $569	+10% $530
Rent	-10% $469	-5% $539	+0% $609	+5% $679	+10% $749
Rate	-1.0pp $667	-0.5pp $638	base $609	+0.5pp $579	+1.0pp $549

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Property manager presentLease not considered
• Financial info: Ground rent $680 per monthGround rent (ownership interest: ground rent)

Exterior

• Parking: Driveway and off-street parking
• Utilities: Public waterPublic septic
• Home design: Detached propertyEstimated year built
• Construction: Vinyl sidingPermanent foundation
• Exterior features: Corner lotAbove-grade structures

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating (electric)Central air conditioning (electric)Electric hot water
• Interior features: Estimated living areaNo basement

Listing history 50 events

1. 2026-07-29
   days on market $115,000 Active 99 DOM
2. 2026-07-27
   days on market $115,000 Active 97 DOM
3. 2026-07-25
   days on market $115,000 Active 95 DOM
4. 2026-07-24
   days on market $115,000 Active 94 DOM
5. 2026-07-23
   days on market $115,000 Active 93 DOM
6. 2026-07-22
   days on market $115,000 Active 92 DOM
7. 2026-07-21
   days on market $115,000 Active 91 DOM
8. 2026-07-18
   days on market $115,000 Active 88 DOM
9. 2026-07-16
   days on market $115,000 Active 86 DOM
10. 2026-07-15
    days on market $115,000 Active 85 DOM
11. 2026-07-14
    days on market $115,000 Active 84 DOM
12. 2026-07-13
    days on market $115,000 Active 83 DOM
13. 2026-07-12
    days on market $115,000 Active 82 DOM
14. 2026-07-12
    days on market $115,000 Active 81 DOM
15. 2026-07-10
    days on market $115,000 Active 80 DOM
16. 2026-07-09
    days on market $115,000 Active 79 DOM
17. 2026-07-07
    days on market $115,000 Active 77 DOM
18. 2026-07-06
    days on market $115,000 Active 76 DOM
19. 2026-07-05
    days on market $115,000 Active 75 DOM
20. 2026-07-04
    days on market $115,000 Active 74 DOM
21. 2026-07-03
    days on market $115,000 Active 73 DOM
22. 2026-07-02
    days on market $115,000 Active 72 DOM
23. 2026-07-01
    days on market $115,000 Active 71 DOM
24. 2026-06-30
    days on market $115,000 Active 70 DOM
25. 2026-06-29
    days on market $115,000 Active 69 DOM
26. 2026-06-28
    days on market $115,000 Active 68 DOM
27. 2026-06-27
    days on market $115,000 Active 67 DOM
28. 2026-06-26
    days on market $115,000 Active 65 DOM
29. 2026-06-22
    days on market $115,000 Active 62 DOM
30. 2026-06-21
    days on market $115,000 Active 61 DOM
31. 2026-06-21
    days on market $115,000 Active 60 DOM
32. 2026-06-18
    days on market $115,000 Active 58 DOM
33. 2026-06-17
    days on market $115,000 Active 57 DOM
34. 2026-06-16
    days on market $115,000 Active 56 DOM
35. 2026-06-15
    days on market $115,000 Active 55 DOM
36. 2026-06-13
    days on market $115,000 Active 53 DOM
37. 2026-06-12
    days on market $115,000 Active 52 DOM
38. 2026-06-09
    days on market $115,000 Active 49 DOM
39. 2026-06-08
    days on market $115,000 Active 48 DOM
40. 2026-06-07
    days on market $115,000 Active 47 DOM
41. 2026-06-07
    days on market $115,000 Active 46 DOM
42. 2026-06-04
    days on market $115,000 Active 43 DOM
43. 2026-06-02
    days on market $115,000 Active 42 DOM
44. 2026-06-01
    days on market $115,000 Active 41 DOM
45. 2026-05-31
    days on market $115,000 Active 40 DOM
46. 2026-05-31
    days on market $115,000 Active 39 DOM
47. 2026-04-21
    listed $115,000 Active 1316-char remark
48. 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!

49. 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!

50. 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!

ⓘ 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: $21,322
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,706
• − Management: −$1,706
• − Depreciation: −$3,345
• Taxable income: $5,824
• Est. tax owed @ 24.0%: −$1,398
• After-tax cash flow: $5,910/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $29,600–$53,280 screening

The home is in fair condition with significant repairs and maintenance needed, including roof repair, exterior siding and paint, and landscaping. These updates would significantly increase its value for both resale and rental.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The siding and paint appear to be in poor condition, with visible wear and tear.
• Major landscaping — The landscaping and curb appeal appear to be in poor condition, with overgrown grass and a lack of maintenance.

Value-add opportunities

• Both repair roof — Repairing the roof will improve the overall condition of the home and increase its value for both resale and rental. ↑
• Both repair exterior siding and paint — Repairing the exterior siding and repainting will improve the curb appeal and increase the home's value for both resale and rental. ↑
• Both landscape and maintain yard — Landscape and maintain the yard will improve the curb appeal and increase the home's value for both resale and rental. ↑

ⓘ Rehab cost is a screening estimate — Moderate 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 16/100

Zoned Schools

Elementary Maple Elementary School F MD #740/860 Nat'l #40,442/41,679 Middle Mace's Lane Middle School F MD #212/225 Nat'l #13,515/14,009 High Cambridge-South Dorchester High School F MD #151/222 Nat'l #10,416/17,239

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

C Composite livability gradescore 65/100

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

• County: Dorchester · 31,699 people
• Population (ZIP): 18,167
• Household income: $53,171
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 10% of renters

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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%

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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%

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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

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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: Property manager presentLease not considered
• Financial info: Ground rent $680 per monthGround rent (ownership interest: ground rent)

Exterior

• Parking: Driveway and off-street parking
• Utilities: Public waterPublic septic
• Home design: Detached propertyEstimated year built
• Construction: Vinyl sidingPermanent foundation
• Exterior features: Corner lotAbove-grade structures

Interior

• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central heating (electric)Central air conditioning (electric)Electric hot water
• Interior features: Estimated living areaNo basement

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