4311 Tower Dr · Snow Hill, MD 21863

$190,000

3 bd · 1.0 ba · 1,000 sqft · SingleFamily public records · 9 Days on market

Built 1988 0.46 ac lot $190/sqft · 23% below area Est $246k · 23% 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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +4.8/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming neighborhood just outside of the Historic Town of Snow Hill. This 3 bedroom 1 bath home is situated on a gently rolling wooded lot that has a secluded feel, even though it is in a small development(NO HOA!) Located just off of Route 113 southwest of Snow Hill, and just minutes away from all Schools, Byrd Park and All points on the Coast, Ocean City, Assateague, and the Chincoteague Bay at Public Landing, as well as Chincoteague Island itself, noted for its' annual 'Pony Swim' from Assateague Island, and Home of 'Misty!' This homes solid bones are ready for your personal touch!

Key facts

• 0.46 acre lot
• 7 parking spots
• Built 1988

Property features AI

Exterior

• Parking: Total of 7 garage/parking spaces; Driveway with 4 spaces; 3 off-street spaces; Crushed stone parking surface
• Utilities: Well water; Gravity septic field sewer; Electric service available; Phone service available; Propane available; Municipal trash: not available
• Home design: Detached property; Located in a rural area; Fee simple ownership; Property condition: Average; Federal flood zone: X
• Construction: Built using stick built methods with vinyl siding and block; Block foundation; Architectural shingle roof; Double-pane windows; Batts insulation
• Exterior features: Backs to trees; Trees/wooded lot

Interior

• Kitchen: Electric oven/range; Range hood; Exhaust fan; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Space heater; Propane (leased) heating fuel; Electric hot water
• Interior features: Dry wall walls and ceilings; Insulated doors; Not furnished; 2+ access exits
• Laundry & utility: Washer/dryer hookups only

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (1.9% below list).
• Recommended offer: $186k (1.9% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#167 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment F.
• 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: Snow Hill Elementary (math 24% / reading 24%, grade F, #260 of 860 statewide, top 33%, 379 students, 55% FRL); Snow Hill Middle (math 19% / reading 29%, grade F, #114 of 225 statewide, top 52%, 403 students, 59% FRL); Snow Hill High (math 57% / reading 82%, grade B, #40 of 222 statewide, top 19%, 348 students, 55% FRL) — zoned schools average 57% FRL vs 39% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).

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.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $50k; list at $190k implies a 281% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $186,327 (1.9% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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.
3. 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.
4. 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: 0.98% ✗
• Cap rate: 8.15%
• Cash-on-cash: 6.65%
• DSCR: 1.30
• GRM: 8.5

CMA / ARV

• ARV (median comp): $245,593
• List price: $190,000
• Delta: -22.64%
• Verdict: UNDERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5529 Princess Way	0.08mi	3/1.0	1,000 (0%)	6mo	$277,500	$278	92
4233 Spire Ct	0.14mi	3/1.0	1,120 (+12%)	10mo	$265,000	$237	65
4008 Market St	0.61mi	3/2.0	924 (-8%)	0mo	$139,000	$150	54

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: -6.1%
• Equity multiple: 0.77×
• Total profit: $-12,070
• Equity at exit: $28,330

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $13,438
• Equity at exit: $16,428

Cash invested: $53,200 (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 21863

• Home prices YoY: -12.0%
• Active inventory: 26
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,863 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$102 /mo · $1,220/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$391
• Net cashflow: $295

Break-even live

Break-even rent $1,490

Max offer price $190,000

Occupancy floor 79%

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-31
   status $190,000 Pending 9 DOM
2. 2026-05-30
   days on market $190,000 Active 9 DOM
3. 2026-05-15
   historical $190,000 592-char remark
4. 1989-08-24
   soldstatus $49,900

ⓘ 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: $1,220 · $102/mo
• Projected year-2 tax: $1,646 · $137/mo
• Expected delta: +$425/yr (+$35/mo · 34.9%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 17 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: $22,359
• − Mortgage interest: −$10,643
• − Property taxes: −$1,220
• − Insurance: −$950
• − Repairs & maintenance: −$1,789
• − Management: −$1,789
• − Depreciation: −$5,527
• Taxable income: $441
• Est. tax owed @ 24.0%: −$106
• After-tax cash flow: $3,431/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: 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

Livability — Snow Hill

• Score: 70/100
• State rank: #167
• US rank: #7515

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 5,202

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 22% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

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: ▼ -39.78%
• Current HPI: 291.6294
• 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

+280.8% since first listed

4 events — show timeline

• 2026-05-30 Pending — BRIGHT MLS
• 2026-05-22 Listed $190,000 BRIGHT MLS
• 2026-05-15 Coming Soon $190,000 BRIGHT MLS
• 1989-08-24 Sold (Public Records) $49,900 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,220 · +4.3% YoY. Source: county tax records.