18 White Oak Dr · Charlestown, MD 21903

$229,900

2 bd · 2.0 ba · 1,493 sqft · SingleFamily · 123 Days on market

Built 2026 $154/sqft · 50% below area Est $456k · 50% under

---

Why this score? — see what drove the D 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).

• ARV discount +15.0/15.0
• Cash flow +9.0/30.0
• Livability +3.7/5.0
• 1% rule +2.8/10.0
• DSCR +2.5/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

18 White Oak Drive Perryville, MD 21903 The Mariner 2 Bedroom 2 Bath Lot# 43 Interior: Large Island Mud Utility Room , Master Bathroom, Master Bath Double Sink Vanity, Guest Bedroom and Guest Bath and Separate Office area Stainless Steel Appliances Included:Refrigerator, Stove, Dishwasher & Microwave Exterior:Choose Colors to Home and Shed Vinyl Siding ', Porch Trex Decking, Side Utility Room Entrance, Large Paver Walkway & Patio, Private Driveway Parking 2 Cars Property Information: No HOA Fees No Property Taxes Contact Us Today for more information. All New Homes Build to Your Choice Contact Office Email: [email protected]

Key facts

• Mud utility room
• Large island
• Vinyl siding

Tags

• LARGE ISLAND
• MUD UTILITY ROOM
• MASTER BATHROOM
• DOUBLE SINK VANITY
• STAINLESS STEEL APPLIANCES
• VINYL SIDING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-181 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $204k (11.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (22.5% below list).
• Recommended offer: $178k (22.5% below list) — sets the bar for 1% rule.
• Cap rate 5.3% vs local median 3.1% in Charlestown — 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 73/100 on livability (#129 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F.
• Cecil County Public Schools (rural): math 15% / reading 30% proficiency, ranked #15 of 24 in MD (top 62%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 58 active listings in the ZIP; 563 units permitted in Cecil County in 2024 (330 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($202k) is reasonable based on typical stale-listing flexibility.

Recommended offer $178,190 (22.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 5.35%
• Cash-on-cash: -3.38%
• DSCR: 0.85
• GRM: 10.8

CMA / ARV

• ARV (median comp): $456,204
• List price: $229,900
• Delta: -49.61%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
121 Woodall Rd	0.39mi	3/1.5 (+1)	1,363 (-9%)	13mo	$350,000	$257	49
69 Greenbriar Rd	0.61mi	3/3.0 (+1)	1,614 (+8%)	8mo	$660,000	$409	42

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: -21.9%
• Equity multiple: 0.24×
• Total profit: $-48,760
• Equity at exit: $34,279

10-year hold

• IRR: -15.8%
• Equity multiple: 0.11×
• Total profit: $-57,202
• Equity at exit: $19,878

Cash invested: $64,372 (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 21903

• Home prices YoY: -23.8%
• Active inventory: 58
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $1,782 medium
• Mortgage (P&I): −$1,206
• Tax est. 1.5%: −$287 /mo · $3,448/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $-181

Break-even live

Break-even rent $2,011

Max offer price $203,697

Occupancy floor —

Sensitivity live

Price	-10% $-22	-5% $-102	+0% $-181	+5% $-261	+10% $-340
Rent	-10% $-322	-5% $-251	+0% $-181	+5% $-111	+10% $-40
Rate	-1.0pp $-65	-0.5pp $-123	base $-181	+0.5pp $-241	+1.0pp $-301

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $229,900 Active 123 DOM
2. 2026-06-18
   days on market $229,900 Active 120 DOM
3. 2026-06-17
   days on market $229,900 Active 119 DOM
4. 2026-06-16
   days on market $229,900 Active 118 DOM
5. 2026-06-15
   days on market $229,900 Active 117 DOM
6. 2026-06-13
   days on market $229,900 Active 115 DOM
7. 2026-06-09
   days on market $229,900 Active 111 DOM
8. 2026-06-08
   days on market $229,900 Active 110 DOM
9. 2026-06-07
   days on market $229,900 Active 109 DOM
10. 2026-06-04
    days on market $229,900 Active 106 DOM
11. 2026-06-03
    days on market $229,900 Active 105 DOM
12. 2026-06-02
    days on market $229,900 Active 104 DOM
13. 2026-06-01
    days on market $229,900 Active 103 DOM
14. 2026-05-31
    days on market $229,900 Active 102 DOM
15. 2026-02-18
    listed $229,900 Active 652-char remark

    Show marketing remark (652 chars)

    18 White Oak Drive Perryville, MD 21903 The Mariner 2 Bedroom 2 Bath Lot# 43 Interior: Large Island Mud Utility Room , Master Bathroom, Master Bath Double Sink Vanity, Guest Bedroom and Guest Bath and Separate Office area Stainless Steel Appliances Included:Refrigerator, Stove, Dishwasher & Microwave Exterior:Choose Colors to Home and Shed Vinyl Siding ', Porch Trex Decking, Side Utility Room Entrance, Large Paver Walkway & Patio, Private Driveway Parking 2 Cars Property Information: No HOA Fees No Property Taxes Contact Us Today for more information. All New Homes Build to Your Choice Contact Office Email: [email protected]

ⓘ 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: $21,383
• − Mortgage interest: −$12,878
• − Property taxes: −$3,448
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$6,688
• Taxable loss: −$6,202
• Est. tax savings @ 24.0%: +$1,489
• After-tax cash flow: $-684/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: Cecil County Public Schools
• NCES district ID: 2400240
• Math proficiency: 15% ▼ -21.00%
• Reading proficiency: 30% ▼ -15.00%
• Median HH income: $66,544
• Composite: 21.51/100
• National rank: #8322
• State rank: #15 of 24 in MD

Livability — Charlestown

• Score: 73/100
• State rank: #129
• US rank: #5488

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 786
• Population (ZIP): 5,679

Population outlook (Cecil County) Hauer SSP2

• Today (2025): 105,877 people
• By 2030: 106,905 · +1.0%
• By 2040: 107,156 · +1.2%
• By 2050: 104,170 · -1.6%
• By 2075: 95,771 · -9.5%
• By 2100: 82,381 · -22.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Black 11% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Romanian 3% Lithuanian 3% Italian 2%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 2% German/W. Germanic 1%

Political lean MEDSL · Cecil

• 2024 margin: Solid R (+30.9) · D 33.5% · R 64.4% · Other 2.1%
• 2008→2024 swing: -16.3pp toward R · 2008: -14.6pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+26.6 2016: R+35.3 2012: R+20.4 2008: R+14.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.75%
• Current HPI: 223.8037
• 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

1 event — show timeline

• 2026-02-18 Listed $229,900 Zillow