13900 Baltimore Pike NE · Pleasant Grove, MD 21502

$300,000

120 bd · None ba · 1,664 sqft · MultiFamily public records · 36 Days on market

Built 1944 1.28 ac lot

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Why this score? — see what drove the D 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 +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +2.9/5.0
• 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: 15 units. confirmed

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

Investment Opportunity – 15-Unit Multifamily Property. A mix of units from efficiencies to one bedroom units, plus 3 bedroom home, High occupancy with strong rental history. On-site parking available for tenants Lot Size – Spacious lot with potential for additional improvements or amenities Location – Currently in 100yr flood zone. Convenient access to retail, dining, and major highways.

Key facts

• On site parking
• Spacious lot
• 1.28 acre lot

Tags

• 15 UNIT MULTIFAMILY PROPERTY
• ON SITE PARKING
• SPACIOUS LOT
• STRONG RENTAL HISTORY
• CONVENIENT ACCESS TO RETAIL
• CONVENIENT ACCESS TO DINING

What this means for you Summary

Snapshot

• This is a 15 × 1-bed/1-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $8k ($100k/yr) — positive. Per door: $557/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($13k rent vs $300k).
• Recommended offer: $291k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#383 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-, employment B; Watch: schools F, crime F, amenities 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.
• 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).
• At $13,146/mo this rent would consume 260% of the median local household income ($61k/yr) (locally 824% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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 $84k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($291k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $200k; list at $300k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo; built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $291,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 4.38% ✓
• Cap rate: 40.22%
• Cash-on-cash: 121.15%
• DSCR: 6.39
• GRM: 1.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: —
• Equity multiple: 7.59×
• Total profit: $553,194
• Equity at exit: $44,731

10-year hold

• IRR: —
• Equity multiple: 18.66×
• Total profit: $1,483,855
• Equity at exit: $25,939

Cash invested: $84,000 (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: 28.5×

Monthly cashflow live

• Estimated rent: $13,146 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$206 /mo · $2,478/yr
• Insurance: −$125
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,761
• Net cashflow: $8,355

Break-even live

Break-even rent $2,570

Max offer price $300,000

Occupancy floor 31%

Sensitivity live

Price	-10% $8,525	-5% $8,440	+0% $8,355	+5% $8,271	+10% $8,186
Rent	-10% $7,317	-5% $7,836	+0% $8,355	+5% $8,875	+10% $9,394
Rate	-1.0pp $8,507	-0.5pp $8,432	base $8,355	+0.5pp $8,278	+1.0pp $8,199

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

Units	Beds	Baths	Est. rent
▸ 15× units	1	1	$13,140
Total (15 units)			$13,146

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-06
   status Active 408-char remark

   Show marketing remark (408 chars)

   Investment Opportunity – 15-Unit Multifamily Property. A mix of units from efficiencies to one bedroom units, plus 3 bedroom home, High occupancy with strong rental history. On-site parking available for tenants Lot Size – Spacious lot with potential for additional improvements or amenities Location – Currently in 100yr flood zone. Convenient access to retail, dining, and major highways.

2. 2026-05-01
   historical Active Under Contract 408-char remark

   Show marketing remark (408 chars)

   Investment Opportunity – 15-Unit Multifamily Property. A mix of units from efficiencies to one bedroom units, plus 3 bedroom home, High occupancy with strong rental history. On-site parking available for tenants Lot Size – Spacious lot with potential for additional improvements or amenities Location – Currently in 100yr flood zone. Convenient access to retail, dining, and major highways.

3. 2026-04-18
   listed $300,000 Active 408-char remark

   Show marketing remark (408 chars)

   Investment Opportunity – 15-Unit Multifamily Property. A mix of units from efficiencies to one bedroom units, plus 3 bedroom home, High occupancy with strong rental history. On-site parking available for tenants Lot Size – Spacious lot with potential for additional improvements or amenities Location – Currently in 100yr flood zone. Convenient access to retail, dining, and major highways.

4. 1989-04-07
   soldstatus $200,000

ⓘ 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: $2,478 · $206/mo
• Projected year-2 tax: $2,874 · $239/mo
• Expected delta: +$396/yr (+$33/mo · 16.0%)

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

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone A · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 5/10 Major 7 d/yr ≥97°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: $157,752
• − Mortgage interest: −$16,805
• − Property taxes: −$2,478
• − Insurance: −$3,002
• − Repairs & maintenance: −$12,620
• − Management: −$12,620
• − Depreciation: −$8,727
• Taxable income: $101,500
• Est. tax owed @ 24.0%: −$24,360
• After-tax cash flow: $75,905/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 — Pleasant Grove

• Score: 58/100
• State rank: #383
• US rank: #20889

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pleasant Grove, MD
• County: Allegany County · 41,015 people
• 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

+50.0% since first listed

4 events — show timeline

• 2026-05-06 Relisted — BRIGHT MLS
• 2026-05-01 Contingent — BRIGHT MLS
• 2026-04-18 Listed $300,000 BRIGHT MLS
• 1989-04-07 Sold (Public Records) $200,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $2,478 · +3.4% YoY. Source: county tax records.