104 W Federal St · Snow Hill, MD 21863

$150,000

2 bd · 2.0 ba · 1,792 sqft · SingleFamily public records · 1 Days on market

Built 1908 10,730 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 +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Estate knows very little in regards to home systems, their condition and functionality. Showings must sign Hold Harmless. Home being sold strictly As-Is. Inspections are for informational purposes only.

Key facts

• 0.25 acre lot
• 2 garage spots
• Built 1908

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $823 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).

Location & tenants

• Location reads 70/100 on livability (#167 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A-; Watch: amenities F, commute F, employment F.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Snow Hill Middle (math 19% / reading 29%, grade F, #114 of 225 statewide, top 52%, 403 students, 59% FRL); Snow Hill High (math 57% / reading 82%, grade B, #40 of 222 statewide, top 19%, 348 students, 55% FRL) — zoned schools average 57% FRL vs 39% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 26 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $42k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.
• 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 $150,000

Questions for the listing agent

1. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.63% ✓
• Cap rate: 12.87%
• Cash-on-cash: 23.50%
• DSCR: 2.05
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $320,768
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
104 W Federal St	0.00mi	2/1.5	1,792 (0%)	1mo	$150,000	$84	98
104 N Bay St N	0.30mi	3/1.5 (+1)	1,779 (-1%)	9mo	$185,000	$104	70
205 W Martin St	0.22mi	3/2.0 (+1)	1,778 (-1%)	22mo	$349,900	$197	65
211 Market St	0.27mi	3/2.5 (+1)	1,642 (-8%)	14mo	$310,000	$189	55
200 Mumford St	0.26mi	3/2.5 (+1)	2,060 (+15%)	6mo	$340,000	$165	51
301 Coulbourne Ln	0.49mi	3/1.5 (+1)	1,756 (-2%)	21mo	$315,000	$179	49
108 N Morris St	0.27mi	3/2.0 (+1)	1,614 (-10%)	23mo	$299,900	$186	46
403 S Morris St	0.50mi	3/2.0 (+1)	1,604 (-10%)	10mo	$305,000	$190	46
220 E Federal St	0.31mi	3/1.5 (+1)	1,552 (-13%)	13mo	$170,000	$110	46
201 W Market St	0.20mi	3/1.0 (+1)	1,550 (-14%)	24mo	$216,700	$140	39
209 S Morris St	0.32mi	3/3.0 (+1)	2,040 (+14%)	23mo	$170,000	$83	33
5444 E Market St	0.72mi	3/1.0 (+1)	1,568 (-12%)	21mo	$324,900	$207	19

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 16.6%
• Equity multiple: 1.67×
• Total profit: $28,173
• Equity at exit: $22,365

10-year hold

• IRR: 25.2%
• Equity multiple: 3.20×
• Total profit: $92,341
• Equity at exit: $12,969

Cash invested: $42,000 (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 21863

• Home prices YoY: -12.0%
• Active inventory: 26
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,450 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$264 /mo · $3,165/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $823

Break-even live

Break-even rent $1,409

Max offer price $150,000

Occupancy floor 61%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
211 W Market St Snow Hill, MD	3.0	2.5	1642	$2,450	$1.49	44d	1	0.25mi

Listing history 3 events

1. 2026-04-19
   status Pending
2. 2026-03-30
   historical Active Under Contract
3. 2026-03-30
   listed $150,000 Active

ⓘ 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: $3,165 · $264/mo
• Projected year-2 tax: $3,165 · $264/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥103°F today · 17 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 80% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,400
• − Mortgage interest: −$8,402
• − Property taxes: −$3,165
• − Insurance: −$750
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − Depreciation: −$4,364
• Taxable income: $8,015
• Est. tax owed @ 24.0%: −$1,924
• After-tax cash flow: $7,948/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: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

Livability — Snow Hill

• Score: 70/100
• State rank: #167
• US rank: #7515

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Snow Hill, MD
• Population (ZIP): 5,202

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (71%)
• Race & ethnicity: White 71% Black 22% Two or more races 5% Hispanic / Latino 3% Asian 1%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2% Other Indo-European 1%

Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -39.78%
• Current HPI: 291.6294
• 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

3 events — show timeline

• 2026-04-19 Pending — BRIGHT MLS
• 2026-03-30 Contingent — BRIGHT MLS
• 2026-03-30 Listed $150,000 BRIGHT MLS

Property tax history

+2.2%/yr

Latest (2025): $3,165 · +1.6% YoY. Source: county tax records.