108 Center St · Frostburg, MD 21532

$113,000

4 bd · 2.0 ba · 1,484 sqft · SingleFamily public records · 59 Days on market

Built 1917 4,320 sqft lot $76/sqft · 25% below area Est $150k · 25% under

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Why this score? — see what drove the C 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 +21.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.0/10.0
• Livability +4.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

An opportunity to live in the charming university town of Frostburg, Maryland, "It's just cooler here", and nestled in Mountain Side Maryland, boasting of 4 bedroom, 2 bathrooms, rear yard with plenty of off street parking, close to Moutain Ridge High, sports fields and Frostburg State Univeristy, you will also find the Great Allegany Passage Trail, scenic railroad, and much more. Currently leased month to month through Black Bear Property Managemnet for $1100 per month. Roof recently replaced.

Key facts

• Off street parking
• Rear yard
• Scenic railroad

Tags

• REAR YARD
• OFF STREET PARKING
• GREAT ALLEGANY PASSAGE TRAIL
• SCENIC RAILROAD
• ROOF RECENTLY REPLACED

🏷️ Possibly a rental listed for sale. The $113,000 price doesn't fit this home's estimated sale value (~$150,360) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $113k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $113k (0.1% below list).
• Recommended offer: $110k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.2% in Frostburg — 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 87/100 on livability (#7 in MD, #287 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, cost of living A+; Watch: employment 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: 102 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $781 of loan paydown is wiped out by about $3k 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.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 22y ago; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1917 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,610 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 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 1917 — 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. 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.
5. 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.
6. 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: 1.00% ✗
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (median comp): $150,360
• List price: $113,000
• Delta: -24.85%
• 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
158 Center St	0.15mi	3/1.5 (-1)	1,560 (+5%)	1mo	$177,250	$114	77
133 Maple St	0.14mi	5/2.0 (+1)	1,464 (-1%)	13mo	$113,000	$77	75
111 Wood St	0.06mi	5/2.0 (+1)	1,555 (+5%)	13mo	$220,000	$141	73
84 Hill St	0.32mi	4/2.0	1,428 (-4%)	9mo	$150,000	$105	71
180 E Mechanic St	0.21mi	3/2.0 (-1)	1,604 (+8%)	9mo	$163,000	$102	64
115 Main St	0.58mi	4/2.0	1,608 (+8%)	3mo	$139,999	$87	56
135 Hill St	0.42mi	4/2.0	1,306 (-12%)	10mo	$120,500	$92	52
142 Hill St	0.45mi	3/1.0 (-1)	1,603 (+8%)	8mo	$180,000	$112	50
279 E Main St NE	0.46mi	3/3.0 (-1)	1,620 (+9%)	6mo	$199,900	$123	49
43 Green St	0.33mi	3/1.0 (-1)	1,288 (-13%)	9mo	$140,000	$109	46
115 Armstrong St	0.75mi	3/2.0 (-1)	1,690 (+14%)	14mo	$190,000	$112	25
16 Greenbriar Ct	0.73mi	3/1.0 (-1)	1,264 (-15%)	10mo	$209,900	$166	24

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: -6.3%
• Equity multiple: 0.77×
• Total profit: $-7,336
• Equity at exit: $16,849

10-year hold

• IRR: 3.4%
• Equity multiple: 1.24×
• Total profit: $7,685
• Equity at exit: $9,770

Cash invested: $31,640 (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 21532

• Home prices YoY: -24.2%
• Active inventory: 102
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,128 medium
• Mortgage (P&I): −$593
• Tax from tax record: −$79 /mo · $949/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $173

Break-even live

Break-even rent $910

Max offer price $113,000

Occupancy floor 80%

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: $28,250
• Closing costs: $3,390
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
55 S Broadway Frostburg, MD	3.0	1.0	1020	$1,100	$1.08	44d	1	0.28mi
2 Bob Cat Ct Frostburg, MD	2.0–4.0	1.0–2.0	965	$1,200	$1.24	44d	6	0.66mi

Listing history 50 events

1. 2026-06-19
   days on market $113,000 Active 59 DOM
2. 2026-06-18
   days on market $113,000 Active 58 DOM
3. 2026-06-17
   days on market $113,000 Active 57 DOM
4. 2026-06-16
   days on market $113,000 Active 56 DOM
5. 2026-06-15
   days on market $113,000 Active 55 DOM
6. 2026-06-14
   days on market $113,000 Active 53 DOM
7. 2026-06-12
   days on market $113,000 Active 52 DOM
8. 2026-06-09
   days on market $113,000 Active 49 DOM
9. 2026-06-08
   days on market $113,000 Active 48 DOM
10. 2026-06-07
    days on market $113,000 Active 47 DOM
11. 2026-06-02
    days on market $113,000 Active 42 DOM
12. 2026-06-01
    days on market $113,000 Active 41 DOM
13. 2026-05-31
    days on market $113,000 Active 40 DOM
14. 2026-05-30
    days on market $113,000 Active 39 DOM
15. 2026-04-21
    listed $120,000 Active 509-char remark

    Show marketing remark (509 chars)

    An opportunity to live in the charming university town of Frostburg, Maryland, "It's just cooler here", and nestled in Mountain Side Maryland, boasting of 4 bedroom, 2 bathrooms, rear yard with plenty of off street parking, close to Moutain Ridge High, sports fields and Frostburg State Univeristy, you will also find the Great Allegany Passage Trail, scenic railroad, and much more. Currently leased month to month through Black Bear Property Managemnet for $1100 per month. Roof recently replaced.

16. 2025-10-21
    historical
17. 2025-08-22
    price $115,000
18. 2025-04-21
    listed $120,000 Active
19. 2024-10-31
    historical
20. 2024-10-17
    price $97,500
21. 2024-07-16
    listed $105,000 Active
22. 2024-07-16
    historical
23. 2024-06-30
    historical
24. 2024-03-06
    listed $109,900 Active
25. 2024-02-29
    historical
26. 2024-01-03
    status Active
27. 2023-12-31
    historical
28. 2023-08-21
    listed $115,000 Active
29. 2015-10-08
    soldstatus $277,500
30. 2014-10-20
    historical
31. 2014-10-20
    historical
32. 2014-07-11
    price
33. 2013-01-02
    historical Expired
34. 2013-01-01
    historical
35. 2012-03-20
    price
36. 2012-03-20
    price
37. 2010-01-14
    status Active
38. 2010-01-06
    historical Expired
39. 2009-10-05
    price
40. 2009-10-05
    price
41. 2009-04-22
    price
42. 2009-04-22
    price
43. 2009-04-21
    price
44. 2009-01-13
    listed
45. 2009-01-13
    listed
46. 2009-01-13
    listed $94,500
47. 2009-01-13
    listed $109,500
48. 2008-12-11
    soldstatus $69,500
49. 2004-06-15
    soldstatus $50,000
50. 2004-06-11
    soldstatus $50,000

ⓘ 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: $949 · $79/mo
• Projected year-2 tax: $1,090 · $91/mo
• Expected delta: +$142/yr (+$12/mo · 14.9%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥91°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: $13,540
• − Mortgage interest: −$6,330
• − Property taxes: −$949
• − Insurance: −$565
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$3,287
• Taxable income: $243
• Est. tax owed @ 24.0%: −$58
• After-tax cash flow: $2,014/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 — Frostburg

• Score: 87/100
• State rank: #7
• US rank: #287

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Frostburg, MD
• Population (ZIP): 13,123

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 (89%)
• Race & ethnicity: White 89% Black 6% Two or more races 2% Hispanic / Latino 2% Asian 2%
• Common ancestry: Slovak 5% Romanian 2% Italian 1%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 2% Chinese 1%

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: ▼ -78.31%
• Current HPI: 244.5937
• 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

+173.3% since first listed

38 events — show timeline

• 2026-04-21 Listed $120,000 BRIGHT MLS
• 2025-10-21 Listing Removed — BRIGHT MLS
• 2025-08-22 Price Changed $115,000 BRIGHT MLS
• 2025-04-21 Listed $120,000 BRIGHT MLS
• 2024-10-31 Listing Removed — BRIGHT MLS
• 2024-10-17 Price Changed $97,500 BRIGHT MLS
• 2024-07-16 Listed $105,000 BRIGHT MLS
• 2024-07-16 Coming Soon — BRIGHT MLS
• 2024-06-30 Listing Removed — BRIGHT MLS
• 2024-03-06 Listed $109,900 BRIGHT MLS
• 2024-02-29 Listing Removed — BRIGHT MLS
• 2024-01-03 Relisted — BRIGHT MLS
• 2023-12-31 Listing Removed — BRIGHT MLS
• 2023-08-21 Listed $115,000 BRIGHT MLS
• 2015-10-08 Sold (Public Records) $277,500 Public Records
• 2014-10-20 Delisted — MRIS
• 2014-10-20 Listing Removed — BRIGHT MLS
• 2014-07-11 Price Changed — MRIS
• 2013-01-02 Delisted — MRIS
• 2013-01-01 Listing Removed — BRIGHT MLS
• 2012-03-20 Price Changed — MRIS
• 2012-03-20 Price Changed — MRIS
• 2010-01-14 Relisted — MRIS
• 2010-01-06 Delisted — MRIS
• 2009-10-05 Price Changed — MRIS
• 2009-10-05 Price Changed — MRIS
• 2009-04-22 Price Changed — MRIS
• 2009-04-22 Price Changed — MRIS
• 2009-04-21 Price Changed — MRIS
• 2009-01-13 Listed — MRIS
• 2009-01-13 Listed — MRIS
• 2009-01-13 Listed $109,500 BRIGHT MLS
• 2009-01-13 Listed $94,500 BRIGHT MLS
• 2008-12-11 Sold (Public Records) $69,500 Public Records
• 2004-06-15 Sold (Public Records) $50,000 Public Records
• 2004-06-11 Sold (MLS) $50,000 MRIS
• 2004-05-08 Delisted — MRIS
• 2004-05-05 Listed $43,900 MRIS

Property tax history

+1.9%/yr

Latest (2025): $949 · -1.0% YoY. Source: county tax records.