604 Pine St · Cambridge, MD 21613

$90,000

4 bd · 1.0 ba · 1,880 sqft · SingleFamily public records · 112 Days on market

Built 1940 5,088 sqft lot $48/sqft · 46% below area Est $168k · 46% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this spacious and versatile 4 bedroom, 1. 1/2- bath home ready for its new owner! This well-maintained property features: One bedroom and full bath on the main level, nice size livingroom , dinningroom, three additional bedrooms upstairs with a half bathroom. Bright enclosed front porch currently being used as a home office, additional storage /walk in closet space upstairs. detached shed for extra storage and a brand -new roof for a piece of mind. Plenty of space, functionality, and recent upgrades make this home a must see!

Key facts

• Brand new roof
• Detached shed
• Enclosed front porch

Tags

• ENCLOSED FRONT PORCH
• DETACHED SHED
• BRAND NEW ROOF

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $90k).
• Recommended offer: $82k (9.0% below list) — sets the bar for market timing.
• Cap rate 20.4% vs local median 4.3% in Cambridge — 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 65/100 on livability (#255 in MD) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing B+; Watch: amenities D, schools F, crime F.
• Dorchester County Public Schools (rural): math 10% / reading 23% proficiency, ranked #23 of 24 in MD (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 294 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 81 units permitted in Dorchester County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $622 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Dorchester County population projected to shrink 10% 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 $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $90k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $25k; list at $90k implies a 260% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $81,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.35% ✓
• Cap rate: 20.44%
• Cash-on-cash: 50.52%
• DSCR: 3.25
• GRM: 3.5

CMA / ARV

• ARV (median comp): $168,156
• List price: $90,000
• Delta: -46.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
638 Douglas St	0.23mi	4/2.0	1,942 (+3%)	1mo	$230,000	$118	79
314 Muir St	0.27mi	3/1.5 (-1)	1,796 (-4%)	1mo	$76,500	$43	72
705 Peachblossom Ave	0.32mi	4/2.5	1,803 (-4%)	7mo	$335,000	$186	66
634 Douglas St	0.19mi	4/3.5	2,075 (+10%)	2mo	$235,000	$113	62
632 Douglas St	0.21mi	3/2.5 (-1)	1,726 (-8%)	6mo	$225,000	$130	60
306 Oakley St	0.64mi	4/2.0	1,905 (+1%)	6mo	$415,000	$218	59
210 Choptank Ave	0.60mi	3/1.5 (-1)	1,744 (-7%)	2mo	$245,000	$140	51
107 W End Ave	0.75mi	3/2.0 (-1)	1,836 (-2%)	4mo	$275,000	$150	49
201 Washington St	0.52mi	3/1.0 (-1)	1,642 (-13%)	4mo	$188,000	$114	46
123 Choptank Ave	0.66mi	5/2.0 (+1)	2,097 (+12%)	1mo	$85,000	$41	40
405 Leonards Ln	0.61mi	4/2.0	1,608 (-14%)	5mo	$234,000	$146	40
211 Choptank Ave	0.61mi	3/2.0 (-1)	1,608 (-14%)	0mo	$205,000	$127	38

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: 48.3%
• Equity multiple: 3.10×
• Total profit: $53,015
• Equity at exit: $13,419

10-year hold

• IRR: 53.9%
• Equity multiple: 6.29×
• Total profit: $133,275
• Equity at exit: $7,782

Cash invested: $25,200 (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 21613

• Home prices YoY: -25.1%
• Active inventory: 294
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $2,113 high
• Mortgage (P&I): −$472
• Tax from tax record: −$99 /mo · $1,189/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $1,061

Break-even live

Break-even rent $770

Max offer price $90,000

Occupancy floor 45%

Sensitivity live

Price	-10% $1,112	-5% $1,086	+0% $1,061	+5% $1,036	+10% $1,010
Rent	-10% $894	-5% $978	+0% $1,061	+5% $1,144	+10% $1,228
Rate	-1.0pp $1,106	-0.5pp $1,084	base $1,061	+0.5pp $1,038	+1.0pp $1,014

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
804 Allen St Cambridge, MD	4.0	2.0	1326	$1,800	$1.36	44d	1	0.32mi
406 Robbins St Cambridge, MD	3.0	2.0	1296	$1,800	$1.39	44d	1	0.39mi
401 N Seaway Ct Cambridge, MD	3.0	2.5	1867	$2,600	$1.39	44d	1	0.48mi
414 Waterfield Ct Cambridge, MD	3.0	2.5	2000	$2,395	$1.20	44d	1	0.48mi
318 E Appleby Ave Cambridge, MD	3.0	2.5	1536	$2,100	$1.37	44d	1	0.73mi
1507 Race St Cambridge, MD	3.0	1.0	1260	$1,695	$1.35	44d	1	0.92mi

Listing history 33 events

1. 2026-06-21
   days on market $90,000 Active 112 DOM
2. 2026-06-18
   days on market $90,000 Active 110 DOM
3. 2026-06-17
   days on market $90,000 Active 109 DOM
4. 2026-06-16
   days on market $90,000 Active 108 DOM
5. 2026-06-15
   days on market $90,000 Active 107 DOM
6. 2026-06-13
   days on market $90,000 Active 105 DOM
7. 2026-06-12
   days on market $90,000 Active 104 DOM
8. 2026-06-09
   days on market $90,000 Active 101 DOM
9. 2026-06-08
   days on market $90,000 Active 100 DOM
10. 2026-06-07
    days on market $90,000 Active 99 DOM
11. 2026-06-07
    days on market $90,000 Active 98 DOM
12. 2026-06-04
    days on market $90,000 Active 95 DOM
13. 2026-06-02
    days on market $90,000 Active 94 DOM
14. 2026-06-01
    days on market $90,000 Active 93 DOM
15. 2026-05-31
    pricedays on market $90,000 Active 92 DOM
16. 2026-05-31
    days on market $150,000 Active 91 DOM
17. 2026-03-16
    price $150,000 546-char remark

    Show marketing remark (546 chars)

    Come check out this spacious and versatile 4 bedroom, 1. 1/2- bath home ready for its new owner! This well-maintained property features: One bedroom and full bath on the main level, nice size livingroom , dinningroom, three additional bedrooms upstairs with a half bathroom. Bright enclosed front porch currently being used as a home office, additional storage /walk in closet space upstairs. detached shed for extra storage and a brand -new roof for a piece of mind. Plenty of space, functionality, and recent upgrades make this home a must see!

18. 2026-02-28
    listed $180,000 Active 546-char remark

    Show marketing remark (546 chars)

    Come check out this spacious and versatile 4 bedroom, 1. 1/2- bath home ready for its new owner! This well-maintained property features: One bedroom and full bath on the main level, nice size livingroom , dinningroom, three additional bedrooms upstairs with a half bathroom. Bright enclosed front porch currently being used as a home office, additional storage /walk in closet space upstairs. detached shed for extra storage and a brand -new roof for a piece of mind. Plenty of space, functionality, and recent upgrades make this home a must see!

19. 2011-04-26
    soldstatus $25,000
20. 2008-03-07
    historical
21. 2007-03-07
    listed
22. 2006-06-29
    soldstatus $56,000
23. 2005-11-22
    soldstatus $56,000
24. 2005-10-24
    historical
25. 2005-09-02
    listed $52,900
26. 2005-08-30
    historical
27. 2005-04-04
    listed
28. 2005-03-30
    historical
29. 2005-02-18
    listed
30. 2004-11-15
    historical
31. 2004-09-16
    listed
32. 2004-08-20
    historical
33. 2004-02-02
    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: $1,189 · $99/mo
• Projected year-2 tax: $1,189 · $99/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 9/10 Extreme 7 d/yr ≥105°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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,360
• − Mortgage interest: −$5,041
• − Property taxes: −$1,189
• − Insurance: −$450
• − Repairs & maintenance: −$2,029
• − Management: −$2,029
• − Depreciation: −$2,618
• Taxable income: $12,004
• Est. tax owed @ 24.0%: −$2,881
• After-tax cash flow: $9,851/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: Dorchester County Public Schools
• NCES district ID: 2400300
• Math proficiency: 10% ▼ -14.00%
• Reading proficiency: 23% ▼ -12.00%
• Median HH income: $46,767
• Composite: 14.65/100
• National rank: #9404
• State rank: #23 of 24 in MD

Livability — Cambridge

• Score: 65/100
• State rank: #255
• US rank: #13046

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cambridge, MD
• Population (ZIP): 18,167

Population outlook (Dorchester County) Hauer SSP2

• Today (2025): 31,699 people
• By 2030: 31,054 · -2.0%
• By 2040: 29,712 · -6.3%
• By 2050: 28,618 · -9.7%
• By 2075: 28,436 · -10.3%
• By 2100: 28,937 · -8.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 52% Black 33% Two or more races 10% Hispanic / Latino 6% Asian 2%
• Hispanic origin (detail): Puerto Rican 3%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3% Other Indo-European 1% German/W. Germanic 1%

Political lean MEDSL · Dorchester

• 2024 margin: R (+14.6) · D 41.6% · R 56.1% · Other 2.3%
• 2008→2024 swing: -6.3pp toward R · 2008: -8.2pp · 2024: -14.6pp
• All cycles: 2024: R+14.6 2020: R+11.9 2016: R+16.0 2012: R+6.6 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -91.03%
• Current HPI: 271.1127
• 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

+183.6% since first listed

17 events — show timeline

• 2026-03-16 Price Changed $150,000 BRIGHT MLS
• 2026-02-28 Listed $180,000 BRIGHT MLS
• 2011-04-26 Sold (Public Records) $25,000 Public Records
• 2008-03-07 Delisted — MRIS
• 2007-03-07 Listed — MRIS
• 2006-06-29 Sold (Public Records) $56,000 Public Records
• 2005-11-22 Sold (MLS) $56,000 MRIS
• 2005-10-24 Delisted — MRIS
• 2005-09-02 Listed $52,900 MRIS
• 2005-08-30 Delisted — MRIS
• 2005-04-04 Listed — MRIS
• 2005-03-30 Delisted — MRIS
• 2005-02-18 Listed — MRIS
• 2004-11-15 Delisted — MRIS
• 2004-09-16 Listed — MRIS
• 2004-08-20 Delisted — MRIS
• 2004-02-02 Listed — MRIS

Property tax history

+3.5%/yr

Latest (2025): $1,189 · +37.9% YoY. Source: county tax records.