35 N Main St · Port Deposit, MD 21904

$349,000

24 bd · None ba · 3,270 sqft · MultiFamily public records · 29 Days on market

Built 1900 4,185 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +2.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Great Opportunity to own this 4 unit Multi Family Property in the heart of down town Port Deposit. Walk to the waterfront, coffee & restaurants. All 4 units currently have tenants in place. All units have their own electric meter. The owner currently receives $710.00, $750.00,$620.00 & $850.00 per month. Water/Sewer & Trash, averages between $300 to $400 per quarter. The property is in a flood zone.

Key facts

• 4,185 sq ft lot
• Built 1900
• Listed 28 days

Property features AI

Finance

• Other: Located in Port Deposit (in city limits)
• Financial info: Land assessed value reported; Improvement assessed value reported; Tax assessed value and recent tax year available

Exterior

• Utilities: Public water; Public sewer; Hot water: Other; Heating fuel: Other
• Home design: Multifamily property (4 total units)
• Construction: Above-grade finished area: 3,270; Below-grade unfinished area: 810; Fee simple ownership
• Exterior features: Total below-grade area: 810 (unfinished)

Interior

• Bedrooms: Three one-bedroom units; One three-bedroom unit
• Heating & cooling: Forced air heating
• Interior features: Four-unit building (multifamily)

What this means for you Summary

Snapshot

• This is a 1×3bd/1ba + 3×1bd/1ba units multifamily listed at $349k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive. Per door: $433/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $349k).
• Recommended offer: $344k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.8% vs local median 2.8% in Port Deposit — 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 56/100 on livability (#406 in MD) — a working-class tenant base; expect higher turnover. Strengths: housing A+, cost of living A, employment B+; Watch: schools F, crime F, amenities 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: 26 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 $10k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($344k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $150k; list at $349k implies a 133% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); major wind risk, 27% 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 $343,765 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.68% ✓
• Cap rate: 13.83%
• Cash-on-cash: 26.93%
• DSCR: 2.20
• GRM: 5.0

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: 13.9%
• Equity multiple: 1.55×
• Total profit: $54,157
• Equity at exit: $52,037

10-year hold

• IRR: 22.7%
• Equity multiple: 2.95×
• Total profit: $190,782
• Equity at exit: $30,175

Cash invested: $97,720 (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 21904

• Home prices YoY: -35.0%
• Active inventory: 26
• Price-to-rent: 20.8×

Monthly cashflow live

• Estimated rent: $5,856 medium
• Mortgage (P&I): −$1,830
• Tax from tax record: −$458 /mo · $5,496/yr
• Insurance: −$145
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,230
• Net cashflow: $1,732

Break-even live

Break-even rent $3,663

Max offer price $349,000

Occupancy floor 65%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
1× unit	3	1	$1,400
▸ 3× units	1	1	$4,455
Total (4 units)			$5,856

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: $87,250
• Closing costs: $10,470
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $349,000 Active 29 DOM
2. 2026-06-17
   days on market $349,000 Active 28 DOM
3. 2026-06-16
   days on market $349,000 Active 27 DOM
4. 2026-06-15
   days on market $349,000 Active 26 DOM
5. 2026-06-13
   days on market $349,000 Active 24 DOM
6. 2026-06-09
   days on market $349,000 Active 20 DOM
7. 2026-06-08
   days on market $349,000 Active 19 DOM
8. 2026-06-07
   days on market $349,000 Active 18 DOM
9. 2026-06-04
   days on market $349,000 Active 15 DOM
10. 2026-06-03
    days on market $349,000 Active 14 DOM
11. 2026-06-02
    days on market $349,000 Active 13 DOM
12. 2026-06-01
    days on market $349,000 Active 12 DOM
13. 2026-05-31
    days on market $349,000 Active 11 DOM
14. 2026-05-20
    listed $349,000 Active
15. 2022-03-28
    soldstatus $150,000
16. 2022-02-23
    soldstatus $150,000 Closed 422-char remark

    Show marketing remark (422 chars)

    Great Opportunity to own this 4 unit Multi Family Property in the heart of down town Port Deposit. Walk to the waterfront, coffee & restaurants. All 4 units currently have tenants in place. All units have their own electric meter. The owner currently receives $710.00, $750.00,$620.00 & $850.00 per month. Water/Sewer & Trash, averages between $300 to $400 per quarter. The property is in a flood zone.

17. 2022-02-11
    historical Active Under Contract 422-char remark

    Show marketing remark (422 chars)

    Great Opportunity to own this 4 unit Multi Family Property in the heart of down town Port Deposit. Walk to the waterfront, coffee & restaurants. All 4 units currently have tenants in place. All units have their own electric meter. The owner currently receives $710.00, $750.00,$620.00 & $850.00 per month. Water/Sewer & Trash, averages between $300 to $400 per quarter. The property is in a flood zone.

18. 2022-01-23
    listed $179,900 Active 422-char remark

    Show marketing remark (422 chars)

    Great Opportunity to own this 4 unit Multi Family Property in the heart of down town Port Deposit. Walk to the waterfront, coffee & restaurants. All 4 units currently have tenants in place. All units have their own electric meter. The owner currently receives $710.00, $750.00,$620.00 & $850.00 per month. Water/Sewer & Trash, averages between $300 to $400 per quarter. The property is in a flood zone.

19. 2014-09-03
    historical Expired
20. 2014-09-03
    historical
21. 2014-06-07
    listed Active
22. 2014-06-07
    listed $215,000
23. 2010-09-23
    historical Expired
24. 2010-09-23
    historical Expired
25. 2010-09-23
    historical
26. 2010-09-22
    historical
27. 2010-09-22
    historical
28. 2010-09-22
    historical
29. 2010-03-01
    price
30. 2010-03-01
    price
31. 2009-09-25
    listed Active
32. 2009-09-25
    listed $224,900
33. 2009-09-24
    listed Active
34. 2009-09-24
    listed $224,900
35. 2009-09-23
    listed $224,900
36. 2009-09-23
    listed $224,900
37. 2008-09-01
    historical
38. 2008-01-24
    listed
39. 2007-05-21
    historical
40. 2007-05-21
    historical
41. 2006-10-13
    listed
42. 2006-08-19
    listed
43. 2006-04-15
    historical
44. 2006-04-07
    historical
45. 2006-02-06
    historical
46. 2005-12-09
    listed
47. 2005-12-01
    historical
48. 2005-11-30
    listed $249,900
49. 2005-06-23
    listed
50. 2005-06-22
    listed $249,000

ⓘ 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: $5,496 · $458/mo
• Projected year-2 tax: $5,496 · $458/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥105°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $70,272
• − Mortgage interest: −$19,549
• − Property taxes: −$5,496
• − Insurance: −$7,270
• − Repairs & maintenance: −$5,622
• − Management: −$5,622
• − Depreciation: −$10,153
• Taxable income: $16,560
• Est. tax owed @ 24.0%: −$3,974
• After-tax cash flow: $16,812/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 — Port Deposit

• Score: 56/100
• State rank: #406
• US rank: #22434

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Port Deposit, MD
• Population (ZIP): 6,401

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 (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 6% Black 6%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 3% Italian 3% Serbian 2%
• Foreign-born: 3% · Canada, Guatemala
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% 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: ▼ -134.21%
• Current HPI: 249.2215
• 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

+571.2% since first listed

38 events — show timeline

• 2026-05-20 Listed $349,000 BRIGHT MLS
• 2022-03-28 Sold (Public Records) $150,000 Public Records
• 2022-02-23 Sold (MLS) $150,000 BRIGHT MLS
• 2022-02-11 Contingent — BRIGHT MLS
• 2022-01-23 Listed $179,900 BRIGHT MLS
• 2014-09-03 Delisted — MRIS
• 2014-09-03 Listing Removed — BRIGHT MLS
• 2014-06-07 Listed — MRIS
• 2014-06-07 Listed $215,000 BRIGHT MLS
• 2010-09-23 Delisted — MRIS
• 2010-09-23 Delisted — MRIS
• 2010-09-23 Listing Removed — BRIGHT MLS
• 2010-09-22 Listing Removed — BRIGHT MLS
• 2010-09-22 Listing Removed — BRIGHT MLS
• 2010-09-22 Listing Removed — BRIGHT MLS
• 2010-03-01 Price Changed — MRIS
• 2010-03-01 Price Changed — MRIS
• 2009-09-25 Listed — MRIS
• 2009-09-25 Listed $224,900 BRIGHT MLS
• 2009-09-24 Listed — MRIS
• 2009-09-24 Listed $224,900 BRIGHT MLS
• 2009-09-23 Listed $224,900 BRIGHT MLS
• 2009-09-23 Listed $224,900 BRIGHT MLS
• 2008-09-01 Delisted — MRIS
• 2008-01-24 Listed — MRIS
• 2007-05-21 Delisted — MRIS
• 2007-05-21 Delisted — MRIS
• 2006-10-13 Listed — MRIS
• 2006-08-19 Listed — MRIS
• 2006-04-15 Delisted — MRIS
• 2006-04-07 Listing Removed — BRIGHT MLS
• 2006-02-06 Delisted — MRIS
• 2005-12-09 Listed — MRIS
• 2005-12-01 Listing Removed — BRIGHT MLS
• 2005-11-30 Listed $249,900 BRIGHT MLS
• 2005-06-23 Listed — MRIS
• 2005-06-22 Listed $249,000 BRIGHT MLS
• 1988-02-11 Sold (Public Records) $52,000 Public Records

Property tax history

+4.0%/yr

Latest (2025): $5,496 · +11.6% YoY. Source: county tax records.