8331 Avalon Blvd · Salisbury, MD 21804

$240,000

5 bd · 2.0 ba · 2,011 sqft · SingleFamily public records · 29 Days on market

Built 1972 0.34 ac lot Est $255k · 6% 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 +23.0/30.0
• ARV discount +10.2/15.0
• DSCR +7.4/10.0
• 1% rule +5.2/10.0
• Rent growth +3.4/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home is ready for someone to come in and remodel entire inside the way you want it. On first floor there are 2 bedrooms, kitchen, Dining Room, & Living room. On the first floor there was 2 bedrooms, large room, utility room. Home has a brand new French drained installed on first floor. Home has a paved driveway and a fence in back yard with deck. See attachment for PAS requirements and WFHM offer submittal information in MLS document section.

Key facts

• New well
• Mini-split systems
• Walk-in shower

Tags

• FLEXIBLE LIVING AREAS
• FUNCTIONAL FLOOR PLAN
• WALK-IN SHOWER
• ADDITIONAL LIVING SPACE
• MINI-SPLIT SYSTEMS
• NEW WELL

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $240k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $240k).
• Recommended offer: $236k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.8% in Salisbury — 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 60/100 on livability (#351 in MD) — a middle-class / working-renter tenant base. Strengths: health & safety A+, cost of living A, housing A; Watch: schools D-, crime F, amenities 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.
• Market conditions: Rents rising (+3.8%/yr); 195 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 278 units permitted in Wicomico County in 2024 (44 in 5+ unit buildings).
• This rent runs 40% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wicomico County population projected at +14% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y ago; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $85k; list at $240k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 80% 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 $236,400 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — 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. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. 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?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 8.43%
• Cash-on-cash: 7.63%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $255,397
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8388 Hilda Dr	0.17mi	4/1.5 (-1)	2,200 (+9%)	10mo	$280,000	$127	62

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 · 3.78% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-9,804
• Equity at exit: $35,785

10-year hold

• IRR: 6.6%
• Equity multiple: 1.51×
• Total profit: $34,307
• Equity at exit: $20,751

Cash invested: $67,200 (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 21804

• Home prices YoY: -26.7%
• Rents YoY: 3.8%
• Active inventory: 195
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,439 medium
• Mortgage (P&I): −$1,259
• Tax from tax record: −$141 /mo · $1,693/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$512
• Net cashflow: $427

Break-even live

Break-even rent $1,898

Max offer price $240,000

Occupancy floor 77%

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8241 Robin Hood Dr Salisbury, MD	4.0	2.5	2496	$2,300	$0.92	13d	1	0.21mi
8241 Robin Hood Dr Salisbury, MD	4.0	2.0	2496	$2,300	$0.92	43d	1	0.21mi
8650 Barbara Ann Way Delmar, MD	2.0–4.0	2.0–3.5	1926	$2,395	$1.24	13d	6	0.85mi

Listing history 30 events

1. 2026-06-18
   days on market $240,000 Active 29 DOM
2. 2026-06-17
   days on market $240,000 Active 28 DOM
3. 2026-06-16
   days on market $240,000 Active 27 DOM
4. 2026-06-15
   days on market $240,000 Active 26 DOM
5. 2026-06-14
   days on market $240,000 Active 24 DOM
6. 2026-06-13
   statusdays on market $240,000 Active 23 DOM
7. 2026-03-31
   status Pending
8. 2026-03-23
   price $240,000
9. 2026-03-10
   listed $259,900 Active
10. 2023-11-29
    historical
11. 2023-10-19
    price $264,900
12. 2023-10-19
    status Active
13. 2023-10-11
    historical
14. 2023-10-04
    price $275,000
15. 2023-09-26
    listed $299,900 Active
16. 2015-10-06
    soldstatus $84,800 456-char remark

    Show marketing remark (456 chars)

    This home is ready for someone to come in and remodel entire inside the way you want it. On first floor there are 2 bedrooms, kitchen, Dining Room, & Living room. On the first floor there was 2 bedrooms, large room, utility room. Home has a brand new French drained installed on first floor. Home has a paved driveway and a fence in back yard with deck. See attachment for PAS requirements and WFHM offer submittal information in MLS document section.

17. 2015-07-30
    listed $49,900 456-char remark

    Show marketing remark (456 chars)

    This home is ready for someone to come in and remodel entire inside the way you want it. On first floor there are 2 bedrooms, kitchen, Dining Room, & Living room. On the first floor there was 2 bedrooms, large room, utility room. Home has a brand new French drained installed on first floor. Home has a paved driveway and a fence in back yard with deck. See attachment for PAS requirements and WFHM offer submittal information in MLS document section.

18. 2014-05-24
    historical
19. 2013-11-22
    listed $109,900
20. 2006-09-07
    soldstatus $250,000
21. 2006-09-07
    soldstatus $250,000
22. 2006-08-29
    soldstatus $250,000
23. 2006-07-20
    historical
24. 2006-06-30
    listed $250,000
25. 2005-01-13
    soldstatus $189,900
26. 2005-01-13
    soldstatus $189,900
27. 2004-11-29
    soldstatus $189,900
28. 2004-11-02
    historical
29. 2004-06-21
    listed $189,900
30. 1984-04-18
    soldstatus $58,000

ⓘ 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: $1,693 · $141/mo
• Projected year-2 tax: $2,154 · $180/mo
• Expected delta: +$462/yr (+$38/mo · 27.3%)

ⓘ 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 ≥106°F today · 16 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: $29,271
• − Mortgage interest: −$13,444
• − Property taxes: −$1,693
• − Insurance: −$1,200
• − Repairs & maintenance: −$2,342
• − Management: −$2,342
• − Depreciation: −$6,982
• Taxable income: $1,269
• Est. tax owed @ 24.0%: −$305
• After-tax cash flow: $4,824/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 — Salisbury

• Score: 60/100
• State rank: #351
• US rank: #18948

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wicomico County · 75,969 people
• City population: 70,518
• Metro: Salisbury, MD-DE
• Population (ZIP): 40,430
• Household income: $73,156
• Rent vs Own: 48.6% rent · 51.4% own
• Severe rent burden: 2096.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 54% Black 30% Two or more races 9% Hispanic / Latino 7% Asian 3%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Hispanic 8% Romanian 3% Slovak 1%
• Foreign-born: 13% · Canada, Vietnam, South Korea
• Languages at home: 83% English-only · French/Haitian/Cajun 7% Spanish 5% Other Indo-European 2%

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: ▼ -84.15%
• Current HPI: 230.6099
• Rent YoY: ▲ 3.78%
• Metro: Salisbury, MD-DE
• 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

+313.8% since first listed

24 events — show timeline

• 2026-03-31 Pending — BRIGHT MLS
• 2026-03-23 Price Changed $240,000 BRIGHT MLS
• 2026-03-10 Listed $259,900 BRIGHT MLS
• 2023-11-29 Listing Removed — BRIGHT MLS
• 2023-10-19 Price Changed $264,900 BRIGHT MLS
• 2023-10-19 Relisted — BRIGHT MLS
• 2023-10-11 Listing Removed — BRIGHT MLS
• 2023-10-04 Price Changed $275,000 BRIGHT MLS
• 2023-09-26 Listed $299,900 BRIGHT MLS
• 2015-10-06 Sold (MLS) $84,800 BRIGHT MLS
• 2015-07-30 Listed $49,900 BRIGHT MLS
• 2014-05-24 Listing Removed — BRIGHT MLS
• 2013-11-22 Listed $109,900 BRIGHT MLS
• 2006-09-07 Sold (Public Records) $250,000 Public Records
• 2006-09-07 Sold (Public Records) $250,000 Public Records
• 2006-08-29 Sold (MLS) $250,000 BRIGHT MLS
• 2006-07-20 Listing Removed — BRIGHT MLS
• 2006-06-30 Listed $250,000 BRIGHT MLS
• 2005-01-13 Sold (Public Records) $189,900 Public Records
• 2005-01-13 Sold (Public Records) $189,900 Public Records
• 2004-11-29 Sold (MLS) $189,900 BRIGHT MLS
• 2004-11-02 Listing Removed — BRIGHT MLS
• 2004-06-21 Listed $189,900 BRIGHT MLS
• 1984-04-18 Sold (Public Records) $58,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $1,693 · +2.4% YoY. Source: county tax records.