8434 Hurleys Neck Rd · Mardela Springs, MD 21837

$175,000

3 bd · 2.0 ba · 1,344 sqft · Manufactured public records · 19 Days on market

Built 1998 4.12 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).

• Appreciation +10.0/10.0
• Cash flow +9.9/30.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• 1% rule +3.0/10.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0

Listing remarks

NOW WITH NEW WELL PUMP!! Opportunity awaits at 8434 Hurleys Neck Rd! Nestled on over 4 private acres in scenic Wicomico County, this 3-bedroom, 2-bath manufactured home on a permanent foundation offers a rare blend of space, privacy, and upside. The property has been fully cleaned out and is now cleared of all belongings, making it easy to walk through, assess, and start planning your vision right away. With a spacious layout and peaceful natural surroundings, this home is the perfect canvas for a buyer looking to build equity or an investor seeking their next value-add opportunity. While the home does need repairs and updates, the potential here is undeniable — whether you’re l

Key facts

• Permanent foundation
• Over 4 private acres
• 4.12 acre lot

Tags

• OVER 4 PRIVATE ACRES
• PERMANENT FOUNDATION
• PEACEFUL NATURAL SURROUNDINGS

Property features AI

Finance

• Other: Ownership is fee simple
• Financial info:
• HOA & community:

Exterior

• Parking: Detached garage with front entry; Driveway parking; Two garage parking spaces (total 2 spaces)
• Security:
• Utilities: Well water; Private septic tank; Electric heating and cooling utilities
• Home design: Manufactured home; Single-story/main-level living (level entry)
• Construction: Vinyl siding exterior; Block foundation with crawl space
• Exterior features: Not in a federal flood zone; No tidal water on property; Above- and below-grade structures noted

Interior

• Kitchen:
• Bedrooms: Three main-level bedrooms
• Flooring:
• Bathrooms: Two full bathrooms
• Heating & cooling: Heat pump heating; Central air conditioning (electric)
• Interior features: Level entry to main living area; Multiple access exits
• Laundry & utility: Has laundry; Electric hot water

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $175k.

Deal economics

• At list price, monthly cash flow is $-175 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (14.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $139k (20.4% below list).
• Recommended offer: $139k (20.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 70/100 on livability (#181 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, health & safety A+, employment A; Watch: crime F, amenities F, commute F.
• Wicomico County Public Schools (urban): math 16% / reading 26% proficiency, ranked #19 of 24 in MD (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Westside Primary (192 students, 42% FRL); Mardela Middle & High (math 19% / reading 48%, grade F, #148 of 222 statewide, top 67%, 691 students, 43% FRL).
• Zoned-school proficiency averages 34% at this address vs 21% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Wicomico County Public Schools average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 18 active listings in the ZIP; 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 2, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($172k) 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 $110k; list at $175k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; major wind risk, 75% 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 $139,300 (20.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.80% ✗
• Cap rate: 5.55%
• Cash-on-cash: -2.67%
• DSCR: 0.88
• GRM: 10.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 21.2%
• Equity multiple: 2.72×
• Total profit: $84,202
• Equity at exit: $157,654

10-year hold

• IRR: 19.2%
• Equity multiple: 6.24×
• Total profit: $256,867
• Equity at exit: $339,987

Cash invested: $49,000 (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 21837

• Home prices YoY: 23.2%
• Active inventory: 18
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,393 medium
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $-175

Break-even live

Break-even rent $1,615

Max offer price $149,623

Occupancy floor —

Sensitivity live

Price	-10% $-54	-5% $-115	+0% $-175	+5% $-236	+10% $-296
Rent	-10% $-285	-5% $-230	+0% $-175	+5% $-120	+10% $-65
Rate	-1.0pp $-87	-0.5pp $-131	base $-175	+0.5pp $-221	+1.0pp $-267

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $175,000 Active 19 DOM
2. 2026-06-18
   days on market $175,000 Active 16 DOM
3. 2026-06-17
   days on market $175,000 Active 15 DOM
4. 2026-06-16
   days on market $175,000 Active 14 DOM
5. 2026-06-15
   days on market $175,000 Active 13 DOM
6. 2026-06-14
   days on market $175,000 Active 11 DOM
7. 2026-06-13
   status $175,000 Active 10 DOM
8. 2026-04-14
   historical Active Under Contract
9. 2026-04-03
   listed $175,000 Active
10. 2026-03-27
    soldstatus $110,000
11. 2026-03-04
    status Pending
12. 2026-03-04
    historical
13. 2026-02-23
    listed $125,000 Active
14. 1993-03-12
    soldstatus $12,000
15. 1977-07-15
    soldstatus $20,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥106°F today · 16 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 75% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,716
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,337
• − Management: −$1,337
• − Depreciation: −$5,091
• Taxable loss: −$5,150
• Est. tax savings @ 24.0%: +$1,236
• After-tax cash flow: $-869/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: Wicomico County Public Schools
• NCES district ID: 2400690
• Math proficiency: 16% ▼ -18.00%
• Reading proficiency: 26% ▼ -13.00%
• Median HH income: $51,745
• Composite: 18.87/100
• National rank: #8860
• State rank: #19 of 24 in MD

Livability — Mardela Springs

• Score: 70/100
• State rank: #181
• US rank: #8103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,975

Population outlook (Wicomico County) Hauer SSP2

• Today (2025): 108,548 people
• By 2030: 111,783 · +3.0%
• By 2040: 118,139 · +8.8%
• By 2050: 123,641 · +13.9%
• By 2075: 139,784 · +28.8%
• By 2100: 145,334 · +33.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 26% Hispanic / Latino 6% Two or more races 2%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 2% Slovak 1% Serbian 0%
• Foreign-born: 4% · Canada
• Languages at home: 98% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Wicomico

• 2024 margin: Lean R (+5.5) · D 46.1% · R 51.5% · Other 2.4%
• 2008→2024 swing: +0.3pp no change · 2008: -5.8pp · 2024: -5.5pp
• All cycles: 2024: R+5.5 2020: R+1.9 2016: R+11.6 2012: R+6.9 2008: R+5.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 51.70%
• Current HPI: 274.26
• 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

+775.0% since first listed

8 events — show timeline

• 2026-04-14 Contingent — BRIGHT MLS
• 2026-04-03 Listed $175,000 BRIGHT MLS
• 2026-03-27 Sold (Public Records) $110,000 Public Records
• 2026-03-04 Pending — BRIGHT MLS
• 2026-03-04 Listing Removed — BRIGHT MLS
• 2026-02-23 Listed $125,000 BRIGHT MLS
• 1993-03-12 Sold (Public Records) $12,000 Public Records
• 1977-07-15 Sold (Public Records) $20,000 Public Records

Property tax history

+1.5%/yr

Latest (2025): $120 · +0.0% YoY. Source: county tax records.