308 E Harrison St · Cumberland, MD 21502

$20,000

2 bd · 1.0 ba · 1,368 sqft · Townhouse public records · 95 Days on market

Built 1898 1,150 sqft lot

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Unleash Your Vision! Prime Investment Opportunity in the Heart of Cumberland Welcome to your next big project! This property, located within Cumberland city limits, offers endless possibilities for the creative investor or visionary homeowner. Yes, it needs a major rehab—but that’s where the magic begins! Features: Blank Canvas: With missing or soft floors, you have the freedom to design from the ground up. Perfect for customizing every inch of this space. Separate Living & Dining Rooms: A classic layout that invites spacious living, ready to be transformed into a modern masterpiece. Kitchen Potential: Imagine building the kitchen of your dreams under a brand-new roof, tailored to your exact specifications. Prime Location: Just minutes from the post office, shopping, and dining, you’re right in the heart of convenience. This property is not for the faint of heart—it’s for the bold. Whether you're looking to flip, rent, or create your forever home, this house is your opportunity to build something truly special. Ready to roll up your sleeves? Don’t miss this chance to transform a diamond in the rough into a shining gem! Call today!

Key facts

• Easy access to i-68
• Built 1898
• Listed 95 days

Tags

• EASY ACCESS TO I-68

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $20k.

Deal economics

• At list price, monthly cash flow is $757 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Recommended offer: $18k (9.0% below list) — sets the bar for market timing.
• Cap rate 51.7% vs local median 6.7% in Cumberland — 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 78/100 on livability (#64 in MD, #2,385 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, 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.
• Zoned schools: West Side Elementary (math 17% / reading 27%, grade F, #297 of 860 statewide, top 38%, 305 students, 69% FRL); Braddock Middle (math 13% / reading 33%, grade F, #122 of 225 statewide, top 54%, 603 students, 60% FRL); Allegany High (math 42% / reading 62%, grade D+, #100 of 222 statewide, top 47%, 684 students, 54% FRL).
• Market conditions: Rents rising fast (+10.9%/yr); 238 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $138 of loan paydown is wiped out by about $600 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($18k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago 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 $15k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $18,200 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 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 1898 — 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 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?
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. 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?
8. 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.
9. 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.
10. 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: 5.68% ✓
• Cap rate: 51.69%
• Cash-on-cash: 162.14%
• DSCR: 8.21
• GRM: 1.5

CMA / ARV

• ARV (on-the-fly): $60,192
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 E Harrison St	0.00mi	2/1.0	1,368 (0%)	2mo	$24,500	$18	98
400 Louisiana Ave	0.42mi	3/1.0 (+1)	1,366 (-0%)	1mo	$120,000	$88	74
315 Footer Pl	0.37mi	3/1.0 (+1)	1,400 (+2%)	3mo	$22,900	$16	71
203 Decatur St	0.29mi	2/2.5	1,361 (-0%)	10mo	$147,000	$108	71
133 Polk St	0.40mi	3/1.5 (+1)	1,344 (-2%)	8mo	$51,000	$38	64
619 Maryland Ave	0.29mi	3/1.0 (+1)	1,330 (-3%)	23mo	$28,000	$21	57
118 Independence St	0.49mi	3/1.5 (+1)	1,260 (-8%)	4mo	$55,000	$44	54
350 Bedford St	0.52mi	3/1.0 (+1)	1,310 (-4%)	13mo	$31,000	$24	53
120 Independence St	0.50mi	3/1.0 (+1)	1,260 (-8%)	8mo	$82,800	$66	52
518 A Avondale Ave	0.66mi	3/1.5 (+1)	1,344 (-2%)	13mo	$140,000	$104	49
607 Lincoln St	0.60mi	3/1.5 (+1)	1,440 (+5%)	18mo	$67,000	$47	41

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 10.10×
• Total profit: $50,977
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 24.90×
• Total profit: $133,866
• Equity at exit: $1,729

Cash invested: $5,600 (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 21502

• Home prices YoY: -17.4%
• Rents YoY: 10.9%
• Active inventory: 238
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,137 high
• Mortgage (P&I): −$105
• Tax from tax record: −$28 /mo · $339/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $757

Break-even live

Break-even rent $179

Max offer price $20,000

Occupancy floor 28%

Sensitivity live

Price	-10% $768	-5% $762	+0% $757	+5% $751	+10% $745
Rent	-10% $667	-5% $712	+0% $757	+5% $802	+10% $846
Rate	-1.0pp $767	-0.5pp $762	base $757	+0.5pp $751	+1.0pp $746

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
201 Spring St Cumberland, MD	3.0	1.0	1332	$950	$0.71	45d	1	0.31mi
118 Independence St Cumberland, MD	3.0	1.5	1260	$1,250	$0.99	46d	1	0.51mi
516 Bedford St Cumberland, MD	3.0	1.5	1500	$1,195	$0.80	45d	1	0.62mi
418 N Mechanic St Unit 1C Cumberland, MD	3.0	1.0	1500	$1,295	$0.86	45d	1	0.76mi
418 N Mechanic St Unit 1B Cumberland, MD	2.0	1.0	1000	$1,195	$1.20	45d	1	0.76mi
423 Furnace St Cumberland, MD	3.0	1.5	1440	$1,250	$0.87	45d	1	0.91mi
529 N Centre St Unit Rear Cumberland, MD	2.0	1.0	982	$850	$0.87	45d	1	0.91mi
803 Winifred Rd Cumberland, MD	1.0	2.0	1200	$1,250	$1.04	45d	1	0.98mi
131 Grand Ave Cumberland, MD	3.0	2.0	1444	$1,300	$0.90	45d	1	1.05mi
415 Grand Ave Cumberland, MD	3.0	1.0	1325	$1,250	$0.94	45d	1	1.25mi

Listing history 13 events

1. 2026-04-17
   status Pending
2. 2026-01-11
   listed $20,000 Active
3. 2025-08-31
   historical
4. 2025-06-07
   listed $20,000 Active
5. 2025-01-03
   soldstatus $15,000 Closed 1191-char remark

   Show marketing remark (1191 chars)

   Unleash Your Vision! Prime Investment Opportunity in the Heart of Cumberland Welcome to your next big project! This property, located within Cumberland city limits, offers endless possibilities for the creative investor or visionary homeowner. Yes, it needs a major rehab—but that’s where the magic begins! Features: Blank Canvas: With missing or soft floors, you have the freedom to design from the ground up. Perfect for customizing every inch of this space. Separate Living & Dining Rooms: A classic layout that invites spacious living, ready to be transformed into a modern masterpiece. Kitchen Potential: Imagine building the kitchen of your dreams under a brand-new roof, tailored to your exact specifications. Prime Location: Just minutes from the post office, shopping, and dining, you’re right in the heart of convenience. This property is not for the faint of heart—it’s for the bold. Whether you're looking to flip, rent, or create your forever home, this house is your opportunity to build something truly special. Ready to roll up your sleeves? Don’t miss this chance to transform a diamond in the rough into a shining gem! Call today!

6. 2024-12-13
   status Pending 1191-char remark

   Show marketing remark (1191 chars)

   Unleash Your Vision! Prime Investment Opportunity in the Heart of Cumberland Welcome to your next big project! This property, located within Cumberland city limits, offers endless possibilities for the creative investor or visionary homeowner. Yes, it needs a major rehab—but that’s where the magic begins! Features: Blank Canvas: With missing or soft floors, you have the freedom to design from the ground up. Perfect for customizing every inch of this space. Separate Living & Dining Rooms: A classic layout that invites spacious living, ready to be transformed into a modern masterpiece. Kitchen Potential: Imagine building the kitchen of your dreams under a brand-new roof, tailored to your exact specifications. Prime Location: Just minutes from the post office, shopping, and dining, you’re right in the heart of convenience. This property is not for the faint of heart—it’s for the bold. Whether you're looking to flip, rent, or create your forever home, this house is your opportunity to build something truly special. Ready to roll up your sleeves? Don’t miss this chance to transform a diamond in the rough into a shining gem! Call today!

7. 2024-10-17
   listed $26,000 Active 1191-char remark

   Show marketing remark (1191 chars)

   Unleash Your Vision! Prime Investment Opportunity in the Heart of Cumberland Welcome to your next big project! This property, located within Cumberland city limits, offers endless possibilities for the creative investor or visionary homeowner. Yes, it needs a major rehab—but that’s where the magic begins! Features: Blank Canvas: With missing or soft floors, you have the freedom to design from the ground up. Perfect for customizing every inch of this space. Separate Living & Dining Rooms: A classic layout that invites spacious living, ready to be transformed into a modern masterpiece. Kitchen Potential: Imagine building the kitchen of your dreams under a brand-new roof, tailored to your exact specifications. Prime Location: Just minutes from the post office, shopping, and dining, you’re right in the heart of convenience. This property is not for the faint of heart—it’s for the bold. Whether you're looking to flip, rent, or create your forever home, this house is your opportunity to build something truly special. Ready to roll up your sleeves? Don’t miss this chance to transform a diamond in the rough into a shining gem! Call today!

8. 2022-01-28
   soldstatus $17,000 Closed
9. 2022-01-15
   status Pending
10. 2022-01-08
    price $19,000
11. 2021-12-09
    listed $28,500 Active
12. 1998-07-06
    soldstatus $20,000
13. 1990-08-06
    soldstatus $10,600

ⓘ 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: $339 · $28/mo
• Projected year-2 tax: $339 · $28/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 5/10 Major 7 d/yr ≥101°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: $13,642
• − Mortgage interest: −$1,120
• − Property taxes: −$339
• − Insurance: −$100
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$582
• Taxable income: $9,318
• Est. tax owed @ 24.0%: −$2,236
• After-tax cash flow: $6,843/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 — Cumberland

• Score: 78/100
• State rank: #64
• US rank: #2385

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cumberland, MD
• County: Allegany County · 41,015 people
• City population: 41,015
• Metro: Cumberland, MD-WV
• Population (ZIP): 41,015
• Household income: $60,725
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 824.0

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 (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 2%
• Common ancestry: Slovak 3% Romanian 2% Italian 1%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 2%

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: ▼ -54.33%
• Current HPI: 258.6676
• Rent YoY: ▲ 10.88%
• Metro: Cumberland, MD-WV
• 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

+88.7% since first listed

13 events — show timeline

• 2026-04-17 Pending — BRIGHT MLS
• 2026-01-11 Listed $20,000 BRIGHT MLS
• 2025-08-31 Listing Removed — BRIGHT MLS
• 2025-06-07 Listed $20,000 BRIGHT MLS
• 2025-01-03 Sold (MLS) $15,000 BRIGHT MLS
• 2024-12-13 Pending — BRIGHT MLS
• 2024-10-17 Listed $26,000 BRIGHT MLS
• 2022-01-28 Sold (MLS) $17,000 BRIGHT MLS
• 2022-01-15 Pending — BRIGHT MLS
• 2022-01-08 Price Changed $19,000 BRIGHT MLS
• 2021-12-09 Listed $28,500 BRIGHT MLS
• 1998-07-06 Sold (Public Records) $20,000 Public Records
• 1990-08-06 Sold (Public Records) $10,600 Public Records

Property tax history

+1.2%/yr

Latest (2025): $339 · +11.2% YoY. Source: county tax records.