23313 Sugar Maple Ct Unit 6C · Wildewood, MD 20619

$200,000

2 bd · 1.5 ba · 936 sqft · Condo · 2 Days on market

Built 1985 $225/mo HOA · 11% of rent

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Why this score? — see what drove the C- 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 +14.4/30.0
• ARV discount +7.5/15.0
• Appreciation +6.2/10.0
• 1% rule +5.4/10.0
• DSCR +4.4/10.0
• Rent growth +4.2/5.0
• Schools +3.0/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

MID-LEVEL #830 2 bedroom unit in back of building, beautiful wooded view from balcony. Kitchen includes built-in microwave, refrigerator, range, and dishwasher. Full bath & big closet in hallway. Primary bedroom has 1/2 bath & walk-in closet. Water/sewer/CAM maintenance/trash pickup in condo fee. Investor special! Sold As-Is.

Key facts

• Walk-in closet
• Wooded view
• Built-in microwave

Tags

• WOODED VIEW
• BUILT-IN MICROWAVE
• WALK-IN CLOSET

Property features AI

Finance

• Other: Condominium ownership; Assessor-sourced finished above-grade area: 936; Improvement assessed value reported; Entry floor number listed as 2
• HOA & community: Monthly condo fee of $225; Condo fee covers water, sewer, trash, snow removal, common area maintenance, and exterior building maintenance; Pets allowed with number limits

Exterior

• Parking: Parking lot
• Utilities: Public water; Public sewer; Electric service
• Home design: Condominium unit (Unit/Flat) in a garden-style building (1–4 floors); Building name: SUGAR MAPLE; Entry on level 2
• Construction: Brick construction
• Exterior features: Located outside city limits; No tidal water on the property; Above-grade and below-grade structures noted

Interior

• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Heat pump heating; Central air conditioning; Electric heating and cooling; Electric hot water
• Interior features: Level entry to main living area; No basement
• Laundry & utility: Washer/dryer hookup in the unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $40 ($483/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Cap rate 6.5% vs local median 3.9% in Wildewood — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• St. Mary'S County Public Schools (rural): math 23% / reading 38% proficiency, ranked #8 of 24 in MD (top 33%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+6.7%/yr); 65 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 265 units permitted in St. Mary's County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($1k loan paydown + $5k appreciation (2.3% local appreciation)).
• St. Mary's County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.3% appreciation + 6.7% rent growth), your $56k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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.

Recommended offer $200,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.04% ✓
• Cap rate: 6.53%
• Cash-on-cash: 0.86%
• DSCR: 1.04
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

2.3% appreciation · 6.73% rent growth · sell at horizon

5-year hold

• IRR: 8.8%
• Equity multiple: 1.49×
• Total profit: $27,686
• Equity at exit: $82,205

10-year hold

• IRR: 14.0%
• Equity multiple: 3.12×
• Total profit: $118,669
• Equity at exit: $120,981

Cash invested: $56,000 (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 20619

• Home prices YoY: 1.0%
• Rents YoY: 6.7%
• Active inventory: 65
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,085 medium
• Mortgage (P&I): −$1,049
• Tax est. 1.5%: −$250 /mo · $3,000/yr
• Insurance: −$83
• HOA: −$225
• Vacancy / Maint / Mgmt: −$438
• Net cashflow: $40

Break-even live

Break-even rent $2,034

Max offer price $200,000

Occupancy floor 93%

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23155 Park Place Way California, MD	1.0–3.0	1.0–2.0	1039	$2,215	$2.13	4d	1	1.33mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Likely covers: watersewertrash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-12
   statusdays on market $200,000 Pending 2 DOM
2. 2026-06-09
   remarks 334-char remark
3. 2026-06-09
   listed $200,000 Active 1 DOM

ⓘ 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: $25,024
• − Mortgage interest: −$11,203
• − Property taxes: −$3,000
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,002
• − Management: −$2,002
• − HOA: −$2,700
• − Depreciation: −$5,818
• Taxable loss: −$2,701
• Est. tax savings @ 24.0%: +$648
• After-tax cash flow: $1,131/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: St. Mary'S County Public Schools
• NCES district ID: 2400600
• Math proficiency: 23% ▼ -23.00%
• Reading proficiency: 38% ▼ -12.00%
• Median HH income: $83,240
• Composite: 29.74/100
• National rank: #6444
• State rank: #8 of 24 in MD

Livability — Wildewood

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Wildewood, MD
• County: Saint Marys County · 48,152 people
• Metro: California-Lexington Park, MD
• Population (ZIP): 14,212
• Household income: $119,432
• Rent vs Own: 35.5% rent · 64.5% own
• Severe rent burden: 357.0

Population outlook (St. Mary's County) Hauer SSP2

• Today (2025): 123,125 people
• By 2030: 128,374 · +4.3%
• By 2040: 137,305 · +11.5%
• By 2050: 143,065 · +16.2%
• By 2075: 153,408 · +24.6%
• By 2100: 151,790 · +23.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Black 13% Hispanic / Latino 10% Two or more races 6% Asian 5%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Slovak 3% Iranian 3% Italian 3%
• Foreign-born: 7% · Canada, Jamaica, Vietnam
• Languages at home: 90% English-only · Spanish 5% Chinese 1% Tagalog/Filipino 1%

Political lean MEDSL · St. Mary's

• 2024 margin: R (+17.2) · D 40.2% · R 57.4% · Other 2.4%
• 2008→2024 swing: -4.4pp toward R · 2008: -12.8pp · 2024: -17.2pp
• All cycles: 2024: R+17.2 2020: R+13.8 2016: R+24.6 2012: R+16.1 2008: R+12.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 2.30%
• Current HPI: 239.4326
• Rent YoY: ▲ 6.73%
• Metro: California-Lexington Park, 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

+11.2% since first listed

8 events — show timeline

• 2026-06-08 Listed $200,000 BRIGHT MLS
• 2008-01-31 Delisted — MRIS
• 2007-10-16 Listed — MRIS
• 2007-10-16 Delisted — MRIS
• 2007-10-16 Listed — MRIS
• 2007-08-15 Sold (MLS) $175,000 MRIS
• 2007-07-26 Delisted — MRIS
• 2007-07-24 Listed $179,900 MRIS