30464 Cannon Dr · Salisbury, MD 21804

$149,900

3 bd · 2.0 ba · 1,100 sqft · SingleFamily public records · 4 Days on market

Built 1998 Est $256k · 42% 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
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW CONSTRUCTION BY CHANDLER PROPERTIES. READY TO MOVE INTO. NICE WOODED LOT.

Key facts

• Pool
• Built 1998
• Listed 4 days

Property features AI

Finance

• Other: Fee simple ownership; Above-grade finished area approximately 1,100

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Well water; Septic system; Electric service available; Cable TV available; Phone service available
• Home design: Detached home; Frame (stick built) construction; Crawl space foundation; Estimated year built
• Construction: Frame construction; Stick-built; Crawl space foundation
• Exterior features: Above-ground personal pool; Not in a federal flood zone; Outside city limits; Directions: Zion Rd. to Cannon Dr.

Interior

• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump heating; Central air conditioning; Electric heating and cooling; Electric hot water
• Interior features: Estimated living area; No basement; Two or more access exits

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $620 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 11.3% vs local median 4.8% in Salisbury — 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 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities F.
• 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.
• Market conditions: Rents rising (+3.8%/yr); 195 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).
• This rent runs 33% of the median local income ($73k/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 $4k of value loss. Plan a longer hold.
• 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 + 3.8% rent growth), your $42k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $78k; list at $150k implies a 92% 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→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,900

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. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.34% ✓
• Cap rate: 11.26%
• Cash-on-cash: 17.73%
• DSCR: 1.79
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $256,300
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
30590 Bennett Rd	0.23mi	3/1.0	1,136 (+3%)	10mo	$225,000	$198	72
30444 Bennett Rd	0.11mi	3/1.0	1,008 (-8%)	8mo	$262,000	$260	70
30420 Cannon Dr	0.09mi	3/1.0	960 (-13%)	2mo	$258,000	$269	69
30506 Zion Rd	0.18mi	2/1.0 (-1)	1,064 (-3%)	23mo	$175,000	$164	58
801 Outten Rd	0.52mi	3/2.0	1,224 (+11%)	1mo	$285,000	$233	57
30483 Bennett Rd	0.11mi	3/1.0	936 (-15%)	16mo	$235,000	$251	53
221 Wall St	0.65mi	3/2.0	1,200 (+9%)	5mo	$52,000	$43	50
425 Lindenhurst Ct	0.38mi	3/3.0	1,242 (+13%)	11mo	$239,900	$193	48

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: 10.0%
• Equity multiple: 1.40×
• Total profit: $16,771
• Equity at exit: $22,351

10-year hold

• IRR: 19.8%
• Equity multiple: 2.72×
• Total profit: $72,005
• Equity at exit: $12,961

Cash invested: $41,972 (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 21804

• Home prices YoY: -26.7%
• Rents YoY: 3.8%
• Active inventory: 195
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,004 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$115 /mo · $1,379/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $620

Break-even live

Break-even rent $1,220

Max offer price $149,900

Occupancy floor 64%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
303 Mill Pond Ln Salisbury, MD	2.0–3.0	2.0–3.0	1196	$1,885	$1.58	13d	6	0.68mi
416 E N Pointe Dr Salisbury, MD	1.0–3.0	1.0–2.0	999	$2,055	$2.06	13d	12	1.12mi

Listing history 20 events

1. 2026-06-18
   days on market $149,900 Active 4 DOM
2. 2026-06-17
   days on market $149,900 Active 3 DOM
3. 2026-06-16
   days on market $149,900 Active 2 DOM
4. 2026-06-15
   statusdays on market $149,900 Active 1 DOM
5. 2026-06-14
   days on market $149,900 Coming Soon 22 DOM
6. 2026-06-13
   days on market $149,900 Coming Soon 21 DOM
7. 2026-06-10
   days on market $149,900 Coming Soon 19 DOM
8. 2026-06-09
   days on market $149,900 Coming Soon 18 DOM
9. 2026-06-08
   days on market $149,900 Coming Soon 17 DOM
10. 2026-06-07
    days on market $149,900 Coming Soon 16 DOM
11. 2026-06-03
    days on market $149,900 Coming Soon 12 DOM
12. 2026-06-02
    days on market $149,900 Coming Soon 11 DOM
13. 2026-06-01
    days on market $149,900 Coming Soon 10 DOM
14. 2026-05-31
    days on market $149,900 Coming Soon 9 DOM
15. 2026-05-30
    days on market $149,900 Coming Soon 8 DOM
16. 2026-05-22
    historical $149,900
17. 1998-06-16
    soldstatus $77,900
18. 1998-06-09
    soldstatus $77,900 78-char remark

    Show marketing remark (78 chars)

    NEW CONSTRUCTION BY CHANDLER PROPERTIES. READY TO MOVE INTO. NICE WOODED LOT.

19. 1997-07-31
    listed $77,900 78-char remark

    Show marketing remark (78 chars)

    NEW CONSTRUCTION BY CHANDLER PROPERTIES. READY TO MOVE INTO. NICE WOODED LOT.

20. 1996-05-17
    soldstatus $23,000

ⓘ 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: $1,379 · $115/mo
• Projected year-2 tax: $1,506 · $126/mo
• Expected delta: +$128/yr (+$11/mo · 9.3%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 15 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: $24,053
• − Mortgage interest: −$8,397
• − Property taxes: −$1,379
• − Insurance: −$750
• − Repairs & maintenance: −$1,924
• − Management: −$1,924
• − Depreciation: −$4,361
• Taxable income: $5,319
• Est. tax owed @ 24.0%: −$1,276
• After-tax cash flow: $6,164/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: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 40,430
• Household income: $73,156
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 2096.0

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 54% Black 30% Two or more races 9% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · French/Haitian/Cajun 7% Spanish 5% Other Indo-European 2%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -84.15%
• Current HPI: 230.6099
• Rent YoY: ▲ 3.78%
• Metro: Salisbury, MD-DE
• 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

+551.7% since first listed

5 events — show timeline

• 2026-05-22 Coming Soon $149,900 BRIGHT MLS
• 1998-06-16 Sold (Public Records) $77,900 Public Records
• 1998-06-09 Sold (MLS) $77,900 BRIGHT MLS
• 1997-07-31 Listed $77,900 BRIGHT MLS
• 1996-05-17 Sold (Public Records) $23,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,379 · +1.1% YoY. Source: county tax records.