506 Robbins St · Cambridge, MD 21613

$89,900

3 bd · 1.0 ba · 1,448 sqft · SingleFamily public records · 335 Days on market

Built 1924 Fair condition 4,800 sqft lot $62/sqft · 41% below area Est $154k · 41% under ↓ 32% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MULTIPLE OFFERS RECEIVED. SELLER REQUESTS HIGHEST AND BEST BY FRIDAY, JAN 23 10 AM EST. SELLER SHALL HAVE SOLE DISCRETION TO ACCEPT OR REJECT ANY OFFER RECEIVED. This older home has a lot of potential. Major repairs have been completed, including new roof and boiler, and new flooring and electric panel. It still needs your touches to make it your own. Located on a corner lot, there is a deep back yard and plenty of parking on the side street and a driveway could probably be installed if desired (check with town). This property is eligible under the Freddie Mac First Look initiative thru 07/24/2025.

Key facts

• New boiler
• New flooring
• Plenty of parking

Tags

• NEW ROOF
• NEW BOILER
• NEW FLOORING
• NEW ELECTRIC PANEL
• CORNER LOT
• PLENTY OF PARKING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $918 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 4.2% in Cambridge — 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 65/100 on livability (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, crime F, employment F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Maple Elementary School (math 5% / reading 8%, grade F, #740 of 860 statewide, top 87%, 392 students, 100% FRL); Mace'S Lane Middle School (math 2% / reading 16%, grade F, #212 of 225 statewide, top 95%, 481 students, 100% FRL); Cambridge-South Dorchester High School (math 22% / reading 42%, grade F, #151 of 222 statewide, top 68%, 784 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 336 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).
• This rent runs 43% of the median local income ($53k/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 $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 335 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $43k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 75% 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.

Recommended offer $79,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 335 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. 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?
8. 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.
9. 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.
10. 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: 2.12% ✓
• Cap rate: 18.55%
• Cash-on-cash: 43.76%
• DSCR: 2.95
• GRM: 3.9

CMA / ARV

• ARV (median comp): $153,603
• List price: $89,900
• Delta: -41.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
916 Race St	0.10mi	3/2.0	1,572 (+9%)	4mo	$98,000	$62	74
417 Bayly Ave	0.20mi	3/1.5	1,398 (-4%)	12mo	$230,000	$165	73
315 Shepherd Ave	0.33mi	3/1.0	1,584 (+9%)	2mo	$220,000	$139	67
402 Bayly Ave	0.25mi	4/1.5 (+1)	1,500 (+4%)	10mo	$254,000	$169	66
402 Robbins St	0.17mi	3/1.0	1,300 (-10%)	10mo	$105,000	$81	66
628-630 High St	0.34mi	2/1.0 (-1)	1,536 (+6%)	5mo	$215,000	$140	65
201 Washington St	0.38mi	3/1.0	1,642 (+13%)	5mo	$188,000	$114	55
311 E Appleby Ave	0.40mi	2/3.0 (-1)	1,348 (-7%)	5mo	$260,000	$193	53
631 High St	0.36mi	3/1.5	1,260 (-13%)	11mo	$175,000	$139	50
1117 High St	0.55mi	3/2.0	1,232 (-15%)	6mo	$265,000	$215	41
453 Willis St	0.74mi	3/2.0	1,242 (-14%)	9mo	$269,000	$217	31
213 Hibiscus Ln	0.72mi	4/2.5 (+1)	1,649 (+14%)	3mo	$325,000	$197	30

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: 40.7%
• Equity multiple: 2.74×
• Total profit: $43,905
• Equity at exit: $13,404

10-year hold

• IRR: 46.9%
• Equity multiple: 5.51×
• Total profit: $113,543
• Equity at exit: $7,773

Cash invested: $25,172 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 17 active · 9 under contract
• Months of supply: 7.8 mo (13%/mo absorbed)
• Median asking: $225,000 ($177/sqft)
• Median days on market: 84 d
• This list price: 6% of active listings are priced below it
• ARV vs active asking: -40.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 21613

• Home prices YoY: -25.1%
• Active inventory: 336
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,903 high
• Mortgage (P&I): −$471
• Tax from tax record: −$77 /mo · $918/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $918

Break-even live

Break-even rent $741

Max offer price $89,900

Occupancy floor 47%

Sensitivity live

Price	-10% $969	-5% $943	+0% $918	+5% $893	+10% $867
Rent	-10% $768	-5% $843	+0% $918	+5% $993	+10% $1,068
Rate	-1.0pp $963	-0.5pp $941	base $918	+0.5pp $895	+1.0pp $871

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: $22,475
• Closing costs: $2,697
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
406 Robbins St Cambridge, MD	3.0	2.0	1296	$1,800	$1.39	93d	1	0.16mi
804 Allen St Cambridge, MD	4.0	2.0	1326	$1,800	$1.36	93d	1	0.26mi
318 E Appleby Ave Cambridge, MD	3.0	2.5	1536	$2,100	$1.37	93d	1	0.42mi
401 N Seaway Ct Cambridge, MD	3.0	2.5	1867	$2,600	$1.39	93d	1	0.58mi
1507 Race St Cambridge, MD	3.0	1.0	1260	$1,695	$1.35	93d	1	0.58mi
800 Travers St #5 Cambridge, MD	2.0	1.0	1000	$1,195	$1.20	93d	1	0.96mi
2509 Boeing Way Cambridge, MD	3.0	2.5	1780	$1,965	$1.10	93d	1	1.25mi
2505 Boeing Way Cambridge, MD	3.0	2.5	1557	$2,199	$1.41	93d	1	1.25mi
2484 Westwind Blvd Unit TH Cambridge, MD	3.0	2.5	1826	$2,100	$1.15	93d	1	1.27mi

Listing history 50 events

1. 2026-08-08
   days on market $89,900 Active 335 DOM
2. 2026-08-07
   days on market $89,900 Active 334 DOM
3. 2026-08-06
   days on market $89,900 Active 333 DOM
4. 2026-08-05
   days on market $89,900 Active 332 DOM
5. 2026-08-03
   days on market $89,900 Active 330 DOM
6. 2026-07-31
   days on market $89,900 Active 327 DOM
7. 2026-07-30
   days on market $89,900 Active 326 DOM
8. 2026-07-29
   days on market $89,900 Active 325 DOM
9. 2026-07-27
   days on market $89,900 Active 323 DOM
10. 2026-07-25
    days on market $89,900 Active 321 DOM
11. 2026-07-24
    days on market $89,900 Active 320 DOM
12. 2026-07-23
    days on market $89,900 Active 319 DOM
13. 2026-07-22
    days on market $89,900 Active 318 DOM
14. 2026-07-21
    days on market $89,900 Active 317 DOM
15. 2026-07-18
    days on market $89,900 Active 314 DOM
16. 2026-07-16
    days on market $89,900 Active 312 DOM
17. 2026-07-15
    days on market $89,900 Active 311 DOM
18. 2026-07-14
    days on market $89,900 Active 310 DOM
19. 2026-07-13
    days on market $89,900 Active 309 DOM
20. 2026-07-12
    days on market $89,900 Active 308 DOM
21. 2026-07-12
    days on market $89,900 Active 307 DOM
22. 2026-07-10
    days on market $89,900 Active 306 DOM
23. 2026-07-09
    days on market $89,900 Active 305 DOM
24. 2026-07-07
    days on market $89,900 Active 303 DOM
25. 2026-07-06
    days on market $89,900 Active 302 DOM
26. 2026-07-05
    days on market $89,900 Active 301 DOM
27. 2026-07-04
    days on market $89,900 Active 300 DOM
28. 2026-07-03
    days on market $89,900 Active 299 DOM
29. 2026-07-02
    days on market $89,900 Active 298 DOM
30. 2026-07-01
    days on market $89,900 Active 297 DOM
31. 2026-06-30
    days on market $89,900 Active 296 DOM
32. 2026-06-29
    days on market $89,900 Active 295 DOM
33. 2026-06-28
    days on market $89,900 Active 294 DOM
34. 2026-06-27
    days on market $89,900 Active 293 DOM
35. 2026-06-22
    days on market $89,900 Active 290 DOM
36. 2026-06-21
    days on market $89,900 Active 289 DOM
37. 2026-06-21
    days on market $89,900 Active 288 DOM
38. 2026-06-18
    days on market $89,900 Active 286 DOM
39. 2026-06-17
    days on market $89,900 Active 285 DOM
40. 2026-06-16
    days on market $89,900 Active 284 DOM
41. 2026-06-15
    days on market $89,900 Active 283 DOM
42. 2026-06-13
    days on market $89,900 Active 281 DOM
43. 2026-06-12
    days on market $89,900 Active 280 DOM
44. 2026-06-09
    days on market $89,900 Active 277 DOM
45. 2026-06-08
    days on market $89,900 Active 276 DOM
46. 2026-06-07
    days on market $89,900 Active 275 DOM
47. 2026-06-07
    days on market $89,900 Active 274 DOM
48. 2026-06-04
    days on market $89,900 Active 271 DOM
49. 2026-06-02
    days on market $89,900 Active 270 DOM
50. 2026-06-01
    days on market $89,900 Active 269 DOM

ⓘ 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: $918 · $77/mo
• Projected year-2 tax: $949 · $79/mo
• Expected delta: +$31/yr (+$3/mo · 3.3%)

ⓘ 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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,837
• − Mortgage interest: −$5,036
• − Property taxes: −$918
• − Insurance: −$450
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − Depreciation: −$2,615
• Taxable income: $10,164
• Est. tax owed @ 24.0%: −$2,439
• After-tax cash flow: $8,576/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.

Condition & rehab AI · 2 photos

Fair 45/100 Moderate rehab Est. rehab $36,200–$65,160 screening

This older home requires significant repairs, particularly to the roof and siding, but has potential for substantial value increase with proper renovations.

Deferred maintenance Est. $30,000–$90,000 screening

• Major Roof (roof) — Significant damage to the roof is visible, with missing shingles and exposed structure.
• Major Windows (windows) — The windows appear to be in poor condition, with some frames damaged or missing.
• Major Exterior (exterior) — The siding is peeling and damaged in several areas, indicating significant wear and tear.

Repairs flagged

• Major roof — Significant damage with missing shingles
• Major siding — Weathered and peeling
• Major interior walls — No condition assessment possible

Value-add opportunities

• Both paint exterior and interior — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both repair roof — A new roof will significantly increase the home's value and reduce maintenance costs ↑
• Both replace siding — New siding will improve the home's appearance and increase its value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 16/100

Zoned Schools

Elementary Maple Elementary School F MD #740/860 Nat'l #40,442/41,679 Middle Mace's Lane Middle School F MD #212/225 Nat'l #13,515/14,009 High Cambridge-South Dorchester High School F MD #151/222 Nat'l #10,416/17,239

Schools (NCES district)

• District: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

C Composite livability gradescore 65/100

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• County: Dorchester · 31,699 people
• Population (ZIP): 18,167
• Household income: $53,171
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 10% of renters

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Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

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Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

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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

-32.4% since first listed

13 events — show timeline

• 2026-05-07 Relisted — BRIGHT MLS
• 2026-03-10 Pending — BRIGHT MLS
• 2026-01-25 Relisted — BRIGHT MLS
• 2026-01-23 Listing Removed — BRIGHT MLS
• 2025-12-02 Price Changed $89,900 BRIGHT MLS
• 2025-12-02 Relisted — BRIGHT MLS
• 2025-11-25 Listing Removed — BRIGHT MLS
• 2025-10-21 Price Changed $99,900 BRIGHT MLS
• 2025-09-15 Price Changed $109,900 BRIGHT MLS
• 2025-08-08 Price Changed $124,900 BRIGHT MLS
• 2025-07-14 Relisted — BRIGHT MLS
• 2025-07-09 Listing Removed — BRIGHT MLS
• 2025-06-25 Listed $132,900 BRIGHT MLS

Property tax history

+3.1%/yr

Latest (2025): $918 · +10.3% YoY. Source: county tax records.