134 Liberty Way

Fruitland, MD 21826

$119,500B+

3 bd · 2.0 ba · 1,428 sqft · Built 1985 · SingleFamily · Active · 412 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,883/mo
• Mortgage (P&I): −$627
• Tax + insurance: −$199
• HOA: −$0
• Vac / Maint / Mgmt: −$395
• Net cashflow: $661/mo
• Annual: $7,938/yr
• Cap rate: 12.94%
• Cash-on-cash: 23.72%
• DSCR: 2.06
• 1% rule: 1.58%
• Cash to close: $33,460

Investor read

• This is a 3-bed/2.0-bath single-family listed at $120k. Condition is rated good.
• At list price, monthly cash flow is $661 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• It's been on market 412 days — a 12% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $105k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $826 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#179 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A, housing A, health & safety A; Watch: amenities F, commute F, employment D-.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Fruitland Primary (475 students, 51% FRL); Bennett Middle (math 13% / reading 29%, grade F, #134 of 225 statewide, top 62%, 906 students, 48% FRL); James M. Bennett High (math 55% / reading 66%, grade C+, #71 of 222 statewide, top 32%, 1,343 students, 44% FRL).
• Zoned-school proficiency averages 41% at this address vs 21% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the Wicomico County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 43 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $33k cash investment doubles in ~6 years — after that, you're playing with house money.
• Climate carrying-cost: major wind risk, 78% chance of damaging wind over 30y; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 12.9% vs local median 3.6% in Fruitland — 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.
• This rent runs 35% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• It's been on market 412 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.