12 Curzon Ct · Easton, MD 21601

$79,900

2 bd · 2.0 ba · 1,200 sqft · Manufactured · 461 Days on market

Built 1987 $67/sqft · 46% below area Est $149k · 46% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

Key facts

• Dog park
• Fitness center
• Disc golf course

Tags

• SWIMMING POOL
• FITNESS CENTER
• RECREATION CENTER
• CLUBHOUSE
• DISC GOLF COURSE
• DOG PARK

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $80k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 21.4% vs local median 3.8% in Easton — 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 71/100 on livability (#154 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, housing A-, employment B+; Watch: amenities C-, crime D, commute F.
• Talbot County Public Schools (town): math 15% / reading 35% proficiency, ranked #12 of 24 in MD (top 50%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Chapel District Elementary (math 17% / reading 27%, grade F, #297 of 860 statewide, top 38%, 347 students, 43% FRL); Easton Middle (math 9% / reading 32%, grade F, #141 of 225 statewide, top 65%, 737 students, 62% FRL); Easton High (math 40% / reading 65%, grade C-, #98 of 222 statewide, top 44%, 1,203 students, 56% FRL) — zoned schools average 54% FRL vs 37% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 207 active listings in the ZIP; solid renter incomes; 158 units permitted in Talbot County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Talbot County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 461 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 26y ago; this cycle's ask has dropped $68k (46%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $80k implies a 191% gain — meaningful room to come down on a strong offer.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 461 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
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: 2.46% ✓
• Cap rate: 21.36%
• Cash-on-cash: 53.80%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (median comp): $148,515
• List price: $79,900
• Delta: -46.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 51.9%
• Equity multiple: 3.28×
• Total profit: $50,969
• Equity at exit: $11,913

10-year hold

• IRR: 57.3%
• Equity multiple: 6.67×
• Total profit: $126,768
• Equity at exit: $6,908

Cash invested: $22,372 (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 21601

• Home prices YoY: -31.0%
• Active inventory: 207
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,969 medium
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $1,003

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 44%

Sensitivity live

Price	-10% $1,058	-5% $1,031	+0% $1,003	+5% $975	+10% $948
Rent	-10% $848	-5% $925	+0% $1,003	+5% $1,081	+10% $1,159
Rate	-1.0pp $1,043	-0.5pp $1,023	base $1,003	+0.5pp $982	+1.0pp $961

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-05-04
   price $79,900 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

2. 2026-04-13
   price $85,000 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

3. 2026-01-02
   status Active 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

4. 2025-12-21
   historical Active Under Contract 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

5. 2025-11-13
   status Active 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

6. 2025-11-09
   status Pending 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

7. 2025-10-03
   price $90,000 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

8. 2025-06-05
   price $99,500 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

9. 2025-05-14
   price $107,500 373-char remark

   Show marketing remark (373 chars)

   Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

10. 2025-04-08
    price $114,900 373-char remark

    Show marketing remark (373 chars)

    Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

11. 2025-03-14
    price $125,000 373-char remark

    Show marketing remark (373 chars)

    Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

12. 2025-02-21
    price $139,500 373-char remark

    Show marketing remark (373 chars)

    Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

13. 2025-02-04
    listed $147,500 Active 373-char remark

    Show marketing remark (373 chars)

    Welcome to Hyde Park Senior living community with tons of amenities, conveniently located in Talbot county, MD! The community offers a Swimming Pool, Fitness Center, Recreation Center, Clubhouse, Disc Golf Course, Dog Park, and more. This unit features 2 bedrooms and 2 full baths with a dine in kitchen , living room, and sunroom. Outside is a shed for additional storage.

14. 2000-10-20
    soldstatus $27,500
15. 2000-10-10
    historical
16. 2000-04-15
    listed $27,500

ⓘ 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: $23,624
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,890
• − Management: −$1,890
• − Depreciation: −$2,324
• Taxable income: $11,446
• Est. tax owed @ 24.0%: −$2,747
• After-tax cash flow: $9,290/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: Talbot County Public Schools
• NCES district ID: 2400630
• Math proficiency: 15% ▼ -19.00%
• Reading proficiency: 35% ▼ -10.00%
• Median HH income: $61,786
• Composite: 23.11/100
• National rank: #7961
• State rank: #12 of 24 in MD

Livability — Easton

• Score: 71/100
• State rank: #154
• US rank: #6882

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Easton, MD
• County: Talbot County · 24,671 people
• City population: 24,671
• Metro: Easton, MD
• Population (ZIP): 24,671
• Household income: $83,680
• Rent vs Own: 29.8% rent · 70.2% own
• Severe rent burden: 771.0

Population outlook (Talbot County) Hauer SSP2

• Today (2025): 36,811 people
• By 2030: 36,305 · -1.4%
• By 2040: 34,818 · -5.4%
• By 2050: 32,982 · -10.4%
• By 2075: 29,631 · -19.5%
• By 2100: 25,767 · -30.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 14% Hispanic / Latino 10% Two or more races 6% Asian 1%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Lithuanian 4% Romanian 3% Slovak 2%
• Foreign-born: 9% · Canada, Guatemala
• Languages at home: 89% English-only · Spanish 8% Other Indo-European 2%

Political lean MEDSL · Talbot

• 2024 margin: Toss-up / Even · D 49.0% · R 49.1% · Other 1.9%
• 2008→2024 swing: +9.6pp toward D · 2008: -9.6pp · 2024: -0.0pp
• All cycles: 2024: R+0.0 2020: D+0.5 2016: R+11.9 2012: R+13.2 2008: R+9.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -103.01%
• Current HPI: 229.2902
• Rent YoY: —
• Metro: Easton, MD
• 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

+190.5% since first listed

16 events — show timeline

• 2026-05-04 Price Changed $79,900 BRIGHT MLS
• 2026-04-13 Price Changed $85,000 BRIGHT MLS
• 2026-01-02 Relisted — BRIGHT MLS
• 2025-12-21 Contingent — BRIGHT MLS
• 2025-11-13 Relisted — BRIGHT MLS
• 2025-11-09 Pending — BRIGHT MLS
• 2025-10-03 Price Changed $90,000 BRIGHT MLS
• 2025-06-05 Price Changed $99,500 BRIGHT MLS
• 2025-05-14 Price Changed $107,500 BRIGHT MLS
• 2025-04-08 Price Changed $114,900 BRIGHT MLS
• 2025-03-14 Price Changed $125,000 BRIGHT MLS
• 2025-02-21 Price Changed $139,500 BRIGHT MLS
• 2025-02-04 Listed $147,500 BRIGHT MLS
• 2000-10-20 Sold (MLS) $27,500 MRIS
• 2000-10-10 Delisted — MRIS
• 2000-04-15 Listed $27,500 MRIS