35065 Bracken Ct · Pittsville, MD 21850

$138,900

3 bd · 2.0 ba · 1,539 sqft · Manufactured public records · 37 Days on market

Built 2008 0.33 ac lot $90/sqft · at area comps Est $133k · at est.

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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 +27.3/30.0
• Appreciation +10.0/10.0
• DSCR +9.5/10.0
• 1% rule +6.5/10.0
• ARV discount +5.5/15.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks MLS

This three-bedroom, two-bathroom home is ready for new owners. Features include single-floor living, a wood fireplace, 1500+ sq. ft. , a primary with en suite and garden tub, and a large laundry/mud room. In Strawberry Village, on Bracken Ct. you can experience the best of everything the Eastern Shore has to offer. Centrally located to Ocean City, Berlin shopping, a local produce and seafood stand, Tall Tales Brewery, Wor-Wic Community College, and the Shorebirds stadium.

Key facts

• 0.33 acre lot
• 2 parking spots
• Built 2008

Property features AI

Finance

• HOA & community: Monthly land lease of $484 (approximately 1 year remaining)

Exterior

• Parking: Two total garage/parking spaces; Two driveway spaces; Asphalt driveway; Off-street parking
• Utilities: Public water; Public sewer; Electric available; Propane available; Cable TV available; Phone available; Cable internet service
• Home design: Manufactured (Double wide); Modular/Manufactured construction; Shingle roof; Crawl space foundation; Land lease ownership
• Construction: Manufactured structure; Double wide mobile home; Crawl space foundation; Shingle roof
• Exterior features: Shed; Above-grade and below-grade structures noted; Not located in a federal flood zone; Pets allowed on a case-by-case basis

Interior

• Kitchen: Dishwasher; Microwave; Single oven
• Bedrooms: Three main-level bedrooms
• Flooring: Carpet
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Heat pump(s); Central air conditioning; Propane (leased) heating fuel; Electric hot water
• Interior features: Ceiling fans; Formal dining room; Dining area; Traditional floor plan; Master bathroom; Wood stove; Carpeted areas
• Laundry & utility: Washer; Dryer; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $139k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 1.9% in Pittsville — 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 68/100 on livability (#204 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: schools D, amenities F, commute 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: 30 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).

Forward outlook

• In year one you build about $15k of equity ($960 loan paydown + $14k appreciation (10.0% local appreciation)).
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $110k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: 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 $134,733 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.15% ✓
• Cap rate: 9.75%
• Cash-on-cash: 12.36%
• DSCR: 1.55
• GRM: 7.2

CMA / ARV

• ARV (median comp): $133,031
• List price: $138,900
• Delta: 4.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 33.4%
• Equity multiple: 3.60×
• Total profit: $101,127
• Equity at exit: $125,132

10-year hold

• IRR: 28.8%
• Equity multiple: 8.14×
• Total profit: $277,670
• Equity at exit: $269,852

Cash invested: $38,892 (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 21850

• Home prices YoY: 8.6%
• Active inventory: 30
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$728
• Tax from tax record: −$77 /mo · $926/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $401

Break-even live

Break-even rent $1,093

Max offer price $138,900

Occupancy floor 70%

Sensitivity live

Price	-10% $479	-5% $440	+0% $401	+5% $361	+10% $322
Rent	-10% $274	-5% $337	+0% $401	+5% $464	+10% $527
Rate	-1.0pp $471	-0.5pp $436	base $401	+0.5pp $365	+1.0pp $328

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: $34,725
• Closing costs: $4,167
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34565 Main St Unit 1C Pittsville, MD	3.0	1.5	1100	$1,600	$1.45	44d	1	1.12mi

Listing history 19 events

1. 2026-06-18
   days on market $138,900 Active 37 DOM
2. 2026-06-17
   days on market $138,900 Active 36 DOM
3. 2026-06-16
   days on market $138,900 Active 35 DOM
4. 2026-06-15
   days on market $138,900 Active 34 DOM
5. 2026-06-14
   days on market $138,900 Active 32 DOM
6. 2026-06-13
   days on market $138,900 Active 31 DOM
7. 2026-06-10
   days on market $138,900 Active 29 DOM
8. 2026-06-09
   days on market $138,900 Active 28 DOM
9. 2026-06-08
   days on market $138,900 Active 27 DOM
10. 2026-06-07
    pricedays on market $138,900 Active 26 DOM
11. 2026-06-03
    days on market $139,900 Active 22 DOM
12. 2026-06-02
    statusdays on market $139,900 Active 21 DOM
13. 2026-05-08
    listed $149,900 Active 928-char remark
14. 2026-05-04
    historical $149,900 928-char remark
15. 2022-08-19
    soldstatus $110,000 Closed 476-char remark

    Show marketing remark (476 chars)

    This three-bedroom, two-bathroom home is ready for new owners. Features include single-floor living, a wood fireplace, 1500+ sq. ft. , a primary with en suite and garden tub, and a large laundry/mud room. In Strawberry Village, on Bracken Ct. you can experience the best of everything the Eastern Shore has to offer. Centrally located to Ocean City, Berlin shopping, a local produce and seafood stand, Tall Tales Brewery, Wor-Wic Community College, and the Shorebirds stadium.

16. 2022-07-24
    historical Active Under Contract 476-char remark

    Show marketing remark (476 chars)

    This three-bedroom, two-bathroom home is ready for new owners. Features include single-floor living, a wood fireplace, 1500+ sq. ft. , a primary with en suite and garden tub, and a large laundry/mud room. In Strawberry Village, on Bracken Ct. you can experience the best of everything the Eastern Shore has to offer. Centrally located to Ocean City, Berlin shopping, a local produce and seafood stand, Tall Tales Brewery, Wor-Wic Community College, and the Shorebirds stadium.

17. 2022-07-01
    status Active 476-char remark

    Show marketing remark (476 chars)

    This three-bedroom, two-bathroom home is ready for new owners. Features include single-floor living, a wood fireplace, 1500+ sq. ft. , a primary with en suite and garden tub, and a large laundry/mud room. In Strawberry Village, on Bracken Ct. you can experience the best of everything the Eastern Shore has to offer. Centrally located to Ocean City, Berlin shopping, a local produce and seafood stand, Tall Tales Brewery, Wor-Wic Community College, and the Shorebirds stadium.

18. 2022-06-28
    listed $119,900 Active 476-char remark

    Show marketing remark (476 chars)

    This three-bedroom, two-bathroom home is ready for new owners. Features include single-floor living, a wood fireplace, 1500+ sq. ft. , a primary with en suite and garden tub, and a large laundry/mud room. In Strawberry Village, on Bracken Ct. you can experience the best of everything the Eastern Shore has to offer. Centrally located to Ocean City, Berlin shopping, a local produce and seafood stand, Tall Tales Brewery, Wor-Wic Community College, and the Shorebirds stadium.

19. 2022-06-28
    historical 476-char remark

    Show marketing remark (476 chars)

    This three-bedroom, two-bathroom home is ready for new owners. Features include single-floor living, a wood fireplace, 1500+ sq. ft. , a primary with en suite and garden tub, and a large laundry/mud room. In Strawberry Village, on Bracken Ct. you can experience the best of everything the Eastern Shore has to offer. Centrally located to Ocean City, Berlin shopping, a local produce and seafood stand, Tall Tales Brewery, Wor-Wic Community College, and the Shorebirds stadium.

ⓘ 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: $926 · $77/mo
• Projected year-2 tax: $1,220 · $102/mo
• Expected delta: +$294/yr (+$25/mo · 31.8%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,200
• − Mortgage interest: −$7,781
• − Property taxes: −$926
• − Insurance: −$694
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$4,041
• Taxable income: $2,687
• Est. tax owed @ 24.0%: −$645
• After-tax cash flow: $4,162/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 — Pittsville

• Score: 68/100
• State rank: #204
• US rank: #9759

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pittsville, MD
• Population (ZIP): 3,733

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: Predominantly White (80%)
• Race & ethnicity: White 80% Two or more races 12% Hispanic / Latino 7% Black 4%
• Hispanic origin (detail): Mexican 2% Puerto Rican 4%
• Common ancestry: Romanian 4% Lithuanian 3% Italian 3%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 7% Korean 1%

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: ▲ 20.51%
• Current HPI: 259.5102
• 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

+15.8% since first listed

11 events — show timeline

• 2026-06-06 Price Changed $138,900 BRIGHT MLS
• 2026-06-01 Relisted — BRIGHT MLS
• 2026-05-29 Contingent — BRIGHT MLS
• 2026-05-25 Price Changed $139,900 BRIGHT MLS
• 2026-05-08 Listed $149,900 BRIGHT MLS
• 2026-05-04 Coming Soon $149,900 BRIGHT MLS
• 2022-08-19 Sold (MLS) $110,000 BRIGHT MLS
• 2022-07-24 Contingent — BRIGHT MLS
• 2022-07-01 Relisted — BRIGHT MLS
• 2022-06-28 Listing Removed — BRIGHT MLS
• 2022-06-28 Listed $119,900 BRIGHT MLS

Property tax history

-1.8%/yr

Latest (2025): $926 · +1.1% YoY. Source: county tax records.