15904 Woodsview Dr

Eckhart Mines, MD 21532

$38,000B-

2 bd · 2.0 ba · 1,100 sqft · Built 2018 · SingleFamily · Active · 84 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,163/mo
• Mortgage (P&I): −$199
• Tax + insurance: −$63
• HOA: −$0
• Vac / Maint / Mgmt: −$244
• Net cashflow: $656/mo
• Annual: $7,870/yr
• Cap rate: 27.00%
• Cash-on-cash: 73.96%
• DSCR: 4.29
• 1% rule: 3.06%
• Cash to close: $10,640

Investor read

• This is a 2-bed/2.0-bath single-family listed at $38k. Condition is rated fair.
• At list price, monthly cash flow is $656 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• It's been on market 84 days — a 6% lower offer ($36k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $36k (6.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $263 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Location reads 56/100 on livability (#410 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, employment B; Watch: crime F, amenities F, commute 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: Beall Elementary (math 19% / reading 30%, grade F, #260 of 860 statewide, top 33%, 451 students, 63% FRL); Mount Savage Middle (math 15% / reading 38%, grade F, #86 of 225 statewide, top 40%, 425 students, 54% FRL); Mountain Ridge High School (math 32% / reading 72%, grade D+, #100 of 222 statewide, top 47%, 736 students, 48% FRL).
• Market conditions: 102 active listings in the ZIP; 24 units permitted in Allegany County in 2024 (0 in 5+ unit buildings).
• 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Questions for listing agent

• It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.
• 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.

Repairs flagged (vision-AI assessment)

• Major: Exposed subfloor in kitchen and bath — Structural damage requiring full replacement
• Major: Missing cabinets in kitchen and bath — Structural damage requiring full replacement
• Major: Debris on floor in kitchen and bath — Structural damage requiring full replacement
• Major: Missing windows — Structural damage requiring full replacement
• Major: Worn siding — Structural damage requiring full replacement
• Major: Debris on ground — Structural damage requiring full replacement