501 Harrington Ave · Cambridge, MD 21613

$94,900

2 bd · 1.0 ba · 618 sqft · SingleFamily public records · 58 Days on market

Built 1940 6,000 sqft lot $154/sqft · 43% above area Est $66k · 43% over

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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 +22.1/30.0
• DSCR +7.1/10.0
• 1% rule +5.5/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom 1 bath bugalow being sold "AS IS. " The unit currently has tenants renting at $1,300 month. This one will not last long!!

Key facts

• 6,000 sq ft lot
• Built 1940
• Listed 58 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $152 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($995 rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 4.2% 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, crime F, employment 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.
• Zoned schools: Choptank Elementary School (math 2% / reading 2%, grade F, #826 of 860 statewide, top 100%, 375 students, 100% FRL); Mace'S Lane Middle School (math 2% / reading 16%, grade F, #212 of 225 statewide, top 95%, 481 students, 100% FRL); Cambridge-South Dorchester High School (math 22% / reading 42%, grade F, #151 of 222 statewide, top 68%, 784 students, 100% FRL) — zoned schools average 100% FRL vs 58% district-wide (42 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 292 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $656 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.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $23k; list at $95k implies a 313% 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 $92,053 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.05% ✓
• Cap rate: 8.22%
• Cash-on-cash: 6.88%
• DSCR: 1.31
• GRM: 7.9

CMA / ARV

• ARV (median comp): $66,370
• List price: $94,900
• Delta: 42.99%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
501 Harrington Ave	0.00mi	2/1.0	618 (0%)	0mo	$85,000	$138	100
510 Goldsborough Ave	0.11mi	2/1.0	660 (+7%)	17mo	$156,000	$236	70
601 Moores Ave	0.59mi	2/1.0	648 (+5%)	2mo	$59,500	$92	63
605 Robbins St	0.63mi	2/1.0	648 (+5%)	5mo	$85,000	$131	58
909 Pine St	0.60mi	2/1.0	672 (+9%)	2mo	$64,900	$97	56
818 Center St	0.64mi	1/1.0 (-1)	576 (-7%)	1mo	$58,300	$101	53
814 Center St	0.65mi	2/1.0	696 (+13%)	1mo	$58,300	$84	48
810 Center St	0.66mi	2/1.0	696 (+13%)	2mo	$67,840	$97	47
816 Center St	0.64mi	1/1.0 (-1)	576 (-7%)	11mo	$54,060	$94	45
913 Pine St	0.59mi	2/1.0	672 (+9%)	16mo	$49,900	$74	44

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: -5.7%
• Equity multiple: 0.79×
• Total profit: $-5,678
• Equity at exit: $14,150

10-year hold

• IRR: 3.9%
• Equity multiple: 1.28×
• Total profit: $7,549
• Equity at exit: $8,205

Cash invested: $26,572 (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: 292
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $995 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$97 /mo · $1,159/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $152

Break-even live

Break-even rent $802

Max offer price $94,900

Occupancy floor 80%

Sensitivity live

Price	-10% $206	-5% $179	+0% $152	+5% $125	+10% $99
Rent	-10% $74	-5% $113	+0% $152	+5% $192	+10% $231
Rate	-1.0pp $200	-0.5pp $176	base $152	+0.5pp $128	+1.0pp $103

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
824 Park Ln Cambridge, MD	1.0	1.0	500	$995	$1.99	45d	1	1.04mi

Listing history 3 events

1. 2026-05-13
   price $94,900 141-char remark

   Show marketing remark (141 chars)

   2 bedroom 1 bath bugalow being sold "AS IS. " The unit currently has tenants renting at $1,300 month. This one will not last long!!

2. 2026-03-27
   listed $110,000 Active 141-char remark

   Show marketing remark (141 chars)

   2 bedroom 1 bath bugalow being sold "AS IS. " The unit currently has tenants renting at $1,300 month. This one will not last long!!

3. 1990-12-14
   soldstatus $23,000

ⓘ 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: $1,159 · $97/mo
• Projected year-2 tax: $1,159 · $97/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥104°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: $11,940
• − Mortgage interest: −$5,316
• − Property taxes: −$1,159
• − Insurance: −$474
• − Repairs & maintenance: −$955
• − Management: −$955
• − Depreciation: −$2,761
• Taxable income: $320
• Est. tax owed @ 24.0%: −$77
• After-tax cash flow: $1,751/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

+312.6% since first listed

3 events — show timeline

• 2026-05-13 Price Changed $94,900 BRIGHT MLS
• 2026-03-27 Listed $110,000 BRIGHT MLS
• 1990-12-14 Sold (Public Records) $23,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,159 · +8.7% YoY. Source: county tax records.