2 Coastal Dr · West Ocean City, MD 21811

$350,000

3 bd · 2.0 ba · 1,800 sqft · Manufactured public records · 54 Days on market

Built 1988 7,200 sqft lot $8/mo HOA

---

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 +22.6/30.0
• ARV discount +7.5/15.0
• DSCR +7.3/10.0
• 1% rule +4.9/10.0
• Livability +3.9/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

WATERFRONT!! WATERFRONT!! WATERFRONT !!! * Charming Ranch-Style Home with Stunning Water Frontage! * Welcome to your idyllic retreat nestled in a highly sought-after neighborhood! This delightful ranch-style home features three spacious bedrooms, two full bathrooms (One large master bath) and a wonderful large sunroom with two entrances to the outside with decks to both sides of the back offering comfort and convenience along with an outdoor shower for families and guests alike . New siding, windows and doors installed four years ago. New roof installed 2015. Gutters have gutter guards. Utility Room next to the outdoor shower on the deck. As you enter, you'll immediately appreciate the

Key facts

• New siding
• Large sunroom
• Storage shed

Tags

• LARGE SUNROOM
• OUTDOOR SHOWER
• NEW SIDING
• NEW ROOF
• PRIVATE BACKYARD OASIS
• STORAGE SHED

Property features AI

Finance

• HOA & community: HOA fee $95 annually

Exterior

• Parking: Driveway parking (2 spaces); Total of 2 garage and parking spaces
• Utilities: Public water; Public sewer; Electric cooling and heating
• Home design: Manufactured home; Fee simple ownership
• Construction: Mixed construction materials; Block foundation
• Exterior features: Canal location with water view and water access; Community pool; Other structures above and below grade; Partial basement

Interior

• Kitchen: Kitchen
• Bedrooms: Three bedrooms on the main level
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central air conditioning; Electric hot water
• Interior features: Living room; Dining room; Sun/Florida room; Utility room; Has fireplace (1)
• Laundry & utility: Utility room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $350k.

Deal economics

• At list price, monthly cash flow is $531 ($6k/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 $348k (0.5% below list).
• Recommended offer: $340k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% vs local median 2.6% in West Ocean City — 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 78/100 on livability (#69 in MD, #2,499 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, health & safety A+; Watch: amenities C-, commute F, cost of living D-.
• 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.
• Market conditions: 315 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).
• At $3,482/mo this rent would consume 46% of the median local household income ($90k/yr) (locally 551% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• It's been on market 54 days — a 3% lower offer ($340k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $105k; list at $350k implies a 233% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $339,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.99% ✗
• Cap rate: 8.34%
• Cash-on-cash: 7.31%
• DSCR: 1.33
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.3%
• Equity multiple: 0.77×
• Total profit: $-22,979
• Equity at exit: $52,186

10-year hold

• IRR: 3.3%
• Equity multiple: 1.24×
• Total profit: $23,236
• Equity at exit: $30,262

Cash invested: $98,000 (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 21811

• Home prices YoY: -29.0%
• Active inventory: 315
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,482 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$164 /mo · $1,969/yr
• Insurance: −$146
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$8
• Vacancy / Maint / Mgmt: −$731
• Net cashflow: $531

Break-even live

Break-even rent $2,810

Max offer price $350,000

Occupancy floor 80%

Sensitivity live

Price	-10% $729	-5% $630	+0% $531	+5% $432	+10% $333
Rent	-10% $256	-5% $393	+0% $531	+5% $668	+10% $806
Rate	-1.0pp $707	-0.5pp $620	base $531	+0.5pp $440	+1.0pp $348

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17 White Crane Dr Berlin, MD	4.0	3.0	1900	$3,200	$1.68	22d	1	0.29mi
13002 Bowline Ln #5 Ocean City, MD	4.0	3.5	2160	$3,500	$1.62	45d	1	1.33mi

HOA detail

• Monthly dues: $8 · $96/yr
• Likely covers: water

Listing history 18 events

1. 2026-06-18
   days on market $350,000 Active 54 DOM
2. 2026-06-17
   days on market $350,000 Active 53 DOM
3. 2026-06-16
   days on market $350,000 Active 52 DOM
4. 2026-06-15
   days on market $350,000 Active 51 DOM
5. 2026-06-14
   days on market $350,000 Active 49 DOM
6. 2026-06-13
   days on market $350,000 Active 48 DOM
7. 2026-06-10
   days on market $350,000 Active 46 DOM
8. 2026-06-09
   days on market $350,000 Active 45 DOM
9. 2026-06-08
   days on market $350,000 Active 44 DOM
10. 2026-06-07
    days on market $350,000 Active 43 DOM
11. 2026-06-02
    days on market $350,000 Active 38 DOM
12. 2026-06-01
    days on market $350,000 Active 37 DOM
13. 2026-05-31
    days on market $350,000 Active 36 DOM
14. 2026-05-30
    days on market $350,000 Active 35 DOM
15. 2026-04-25
    listed $350,000 Active 2309-char remark
16. 2013-06-04
    soldstatus $105,000
17. 1999-07-27
    soldstatus $124,000
18. 1988-06-01
    soldstatus $120,370

ⓘ 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: $1,969 · $164/mo
• Projected year-2 tax: $2,892 · $241/mo
• Expected delta: +$923/yr (+$77/mo · 46.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥101°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: $41,781
• − Mortgage interest: −$19,605
• − Property taxes: −$1,969
• − Insurance: −$2,548
• − Repairs & maintenance: −$3,343
• − Management: −$3,343
• − HOA: −$96
• − Depreciation: −$10,182
• Taxable income: $696
• Est. tax owed @ 24.0%: −$167
• After-tax cash flow: $6,202/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 — West Ocean City

• Score: 78/100
• State rank: #69
• US rank: #2499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Ocean City, MD
• County: Worcester County · 35,603 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 24,377
• Household income: $90,082
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 551.0

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 (82%)
• Race & ethnicity: White 82% Black 9% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -119.52%
• Current HPI: 292.9004
• Rent YoY: —
• 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

+190.8% since first listed

4 events — show timeline

• 2026-04-25 Listed $350,000 BRIGHT MLS
• 2013-06-04 Sold (Public Records) $105,000 Public Records
• 1999-07-27 Sold (Public Records) $124,000 Public Records
• 1988-06-01 Sold (Public Records) $120,370 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,969 · +0.7% YoY. Source: county tax records.