435 Grand Ave · Cumberland, MD 21502

$75,000

16 bd · 4.0 ba · 3,060 sqft · MultiFamily public records · 158 Days on market

Built 1895 4,000 sqft lot $25/sqft · 44% below area Est $134k · 44% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• 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

This adorable 4 unit building is conveniently located near amenities. It is currently managed by a professional property management company and transfer options are available. These affordable units are easy to rent with low maintenance costs. Two units are occupied and two units are vacant with cosmetics repairs needed. This property brings in an average of $2100 when fully rented.

Key facts

• 4 unit building
• 4,000 sq ft lot
• Built 1895

Tags

• 4 UNIT BUILDING
• LOW MAINTENANCE COSTS

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $75k.

Deal economics

• At list price, monthly cash flow is $3k ($33k/yr) — positive. Per door: $685/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 50.1% vs local median 6.7% in Cumberland — 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 78/100 on livability (#64 in MD, #2,385 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Allegany County Public Schools (other): math 15% / reading 30% proficiency, ranked #18 of 24 in MD (top 75%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: South Penn Elementary (math 9% / reading 13%, grade F, #581 of 860 statewide, top 68%, 523 students, 77% FRL); Washington Middle (math 7% / reading 30%, grade F, #159 of 225 statewide, top 73%, 583 students, 62% FRL); Fort Hill High (math 42% / reading 62%, grade D+, #100 of 222 statewide, top 47%, 692 students, 58% FRL) — zoned schools average 66% FRL vs 47% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.9%/yr); 238 active listings in the ZIP; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Allegany County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 31y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $42k; list at $75k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 5.42% ✓
• Cap rate: 50.14%
• Cash-on-cash: 156.61%
• DSCR: 7.97
• GRM: 1.5

CMA / ARV

• ARV (median comp): $133,704
• List price: $75,000
• Delta: -43.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.76×
• Total profit: $183,933
• Equity at exit: $11,183

10-year hold

• IRR: —
• Equity multiple: 24.00×
• Total profit: $482,917
• Equity at exit: $6,485

Cash invested: $21,000 (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 21502

• Home prices YoY: -17.4%
• Rents YoY: 10.9%
• Active inventory: 238
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $4,068 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$48 /mo · $582/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$854
• Net cashflow: $2,741

Break-even live

Break-even rent $599

Max offer price $75,000

Occupancy floor 28%

Sensitivity live

Price	-10% $2,783	-5% $2,762	+0% $2,741	+5% $2,719	+10% $2,698
Rent	-10% $2,419	-5% $2,580	+0% $2,741	+5% $2,901	+10% $3,062
Rate	-1.0pp $2,778	-0.5pp $2,760	base $2,741	+0.5pp $2,721	+1.0pp $2,701

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,068
Total (4 units)			$4,068

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 47 events

1. 2026-06-22
   days on market $75,000 Active 158 DOM
2. 2026-06-21
   days on market $75,000 Active 157 DOM
3. 2026-06-19
   days on market $75,000 Active 155 DOM
4. 2026-06-18
   days on market $75,000 Active 154 DOM
5. 2026-06-17
   days on market $75,000 Active 153 DOM
6. 2026-06-16
   days on market $75,000 Active 152 DOM
7. 2026-06-15
   days on market $75,000 Active 151 DOM
8. 2026-06-14
   days on market $75,000 Active 149 DOM
9. 2026-06-12
   days on market $75,000 Active 148 DOM
10. 2026-06-09
    days on market $75,000 Active 145 DOM
11. 2026-06-08
    days on market $75,000 Active 144 DOM
12. 2026-06-07
    days on market $75,000 Active 143 DOM
13. 2026-06-02
    days on market $75,000 Active 138 DOM
14. 2026-06-01
    days on market $75,000 Active 137 DOM
15. 2026-05-31
    days on market $75,000 Active 136 DOM
16. 2026-05-30
    days on market $75,000 Active 135 DOM
17. 2026-03-27
    price $75,000 385-char remark

    Show marketing remark (385 chars)

    This adorable 4 unit building is conveniently located near amenities. It is currently managed by a professional property management company and transfer options are available. These affordable units are easy to rent with low maintenance costs. Two units are occupied and two units are vacant with cosmetics repairs needed. This property brings in an average of $2100 when fully rented.

18. 2026-01-15
    listed $85,000 Active 385-char remark

    Show marketing remark (385 chars)

    This adorable 4 unit building is conveniently located near amenities. It is currently managed by a professional property management company and transfer options are available. These affordable units are easy to rent with low maintenance costs. Two units are occupied and two units are vacant with cosmetics repairs needed. This property brings in an average of $2100 when fully rented.

19. 2025-04-15
    historical
20. 2024-10-18
    listed $80,000 Active
21. 2024-09-12
    historical
22. 2024-09-05
    price $80,000
23. 2024-07-19
    status Active
24. 2024-04-22
    status Pending
25. 2024-03-20
    listed $95,000 Active
26. 2021-08-31
    historical
27. 2021-04-30
    price $99,500
28. 2021-03-04
    listed $109,000 Active
29. 2018-12-21
    soldstatus $42,000 Closed
30. 2018-11-18
    status Pending
31. 2018-08-03
    status Active
32. 2018-07-16
    status Pending
33. 2018-07-12
    listed $44,900 Active
34. 2009-10-27
    status Contract
35. 2009-10-23
    soldstatus $35,000 Sold
36. 2009-10-23
    soldstatus $35,000
37. 2009-10-15
    historical
38. 2009-10-13
    historical
39. 2009-09-11
    listed $39,800 Active
40. 2009-09-10
    listed $39,800
41. 2003-05-22
    soldstatus $10,000
42. 2003-05-08
    historical
43. 2001-07-30
    listed $17,500
44. 1998-04-15
    historical
45. 1998-01-19
    listed
46. 1997-01-20
    historical
47. 1995-07-20
    listed

ⓘ 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: $582 · $48/mo
• Projected year-2 tax: $700 · $58/mo
• Expected delta: +$118/yr (+$10/mo · 20.2%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,816
• − Mortgage interest: −$4,201
• − Property taxes: −$582
• − Insurance: −$375
• − Repairs & maintenance: −$3,905
• − Management: −$3,905
• − Depreciation: −$2,182
• Taxable income: $33,665
• Est. tax owed @ 24.0%: −$8,080
• After-tax cash flow: $24,808/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: Allegany County Public Schools
• NCES district ID: 2400030
• Math proficiency: 15% ▼ -26.00%
• Reading proficiency: 30% ▼ -20.00%
• Median HH income: $39,760
• Composite: 18.95/100
• National rank: #8854
• State rank: #18 of 24 in MD

Livability — Cumberland

• Score: 78/100
• State rank: #64
• US rank: #2385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cumberland, MD
• County: Allegany County · 41,015 people
• City population: 41,015
• Metro: Cumberland, MD-WV
• Population (ZIP): 41,015
• Household income: $60,725
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 824.0

Population outlook (Allegany County) Hauer SSP2

• Today (2025): 68,778 people
• By 2030: 66,766 · -2.9%
• By 2040: 62,784 · -8.7%
• By 2050: 59,179 · -14.0%
• By 2075: 50,732 · -26.2%
• By 2100: 40,837 · -40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Romanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Allegany

• 2024 margin: Solid R (+40.3) · D 28.9% · R 69.2% · Other 2.0%
• 2008→2024 swing: -14.4pp toward R · 2008: -25.9pp · 2024: -40.3pp
• All cycles: 2024: R+40.3 2020: R+38.3 2016: R+48.0 2012: R+32.9 2008: R+25.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.33%
• Current HPI: 258.6676
• Rent YoY: ▲ 10.88%
• Metro: Cumberland, MD-WV
• 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

+328.6% since first listed

31 events — show timeline

• 2026-03-27 Price Changed $75,000 BRIGHT MLS
• 2026-01-15 Listed $85,000 BRIGHT MLS
• 2025-04-15 Listing Removed — BRIGHT MLS
• 2024-10-18 Listed $80,000 BRIGHT MLS
• 2024-09-12 Listing Removed — BRIGHT MLS
• 2024-09-05 Price Changed $80,000 BRIGHT MLS
• 2024-07-19 Relisted — BRIGHT MLS
• 2024-04-22 Pending — BRIGHT MLS
• 2024-03-20 Listed $95,000 BRIGHT MLS
• 2021-08-31 Listing Removed — BRIGHT MLS
• 2021-04-30 Price Changed $99,500 BRIGHT MLS
• 2021-03-04 Listed $109,000 BRIGHT MLS
• 2018-12-21 Sold (MLS) $42,000 BRIGHT MLS
• 2018-11-18 Pending — BRIGHT MLS
• 2018-08-03 Relisted — BRIGHT MLS
• 2018-07-16 Pending — BRIGHT MLS
• 2018-07-12 Listed $44,900 BRIGHT MLS
• 2009-10-27 Pending — MRIS
• 2009-10-23 Sold (MLS) $35,000 BRIGHT MLS
• 2009-10-23 Sold (MLS) $35,000 MRIS
• 2009-10-15 Delisted — MRIS
• 2009-10-13 Listing Removed — BRIGHT MLS
• 2009-09-11 Listed $39,800 MRIS
• 2009-09-10 Listed $39,800 BRIGHT MLS
• 2003-05-22 Sold (MLS) $10,000 MRIS
• 2003-05-08 Delisted — MRIS
• 2001-07-30 Listed $17,500 MRIS
• 1998-04-15 Delisted — MRIS
• 1998-01-19 Listed — MRIS
• 1997-01-20 Delisted — MRIS
• 1995-07-20 Listed — MRIS

Property tax history

+7.8%/yr

Latest (2025): $582 · +12.1% YoY. Source: county tax records.