310 Main St

Marydel, MD 21649

$529,900C

8 bd · 0.0 ba · 3,600 sqft · Built 1900 · MultiFamily · Active · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,161/mo
• Mortgage (P&I): −$2,779
• Tax + insurance: −$608
• HOA: −$0
• Vac / Maint / Mgmt: −$1,084
• Net cashflow: $691/mo
• Annual: $8,289/yr
• Cap rate: 7.86%
• Cash-on-cash: 5.59%
• DSCR: 1.25
• 1% rule: 0.97%
• Cash to close: $148,372

Investor read

• This is a 4 × 2-bed/?-bath units multifamily listed at $530k.
• At list price, monthly cash flow is $691 ($8k/yr) — positive. Per door: $173/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $516k (2.6% below list).
• It's been on market 65 days — a 6% lower offer ($498k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $498k (6.0% below list) — sets the bar for market timing.
• In year one you build about $24k of equity ($4k loan paydown + $20k appreciation (3.8% local appreciation)).
• Location reads 52/100 on livability (#442 in MD) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Caroline County Public Schools (rural): math 13% / reading 29% proficiency, ranked #17 of 24 in MD (top 71%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: 8 active listings in the ZIP; 59 units permitted in Caroline County in 2024 (0 in 5+ unit buildings).
• Caroline County population projected at -19% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• 3 sale attempts; this cycle's ask has dropped $100k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $160k; list at $530k implies a 231% gain — meaningful room to come down on a strong offer.
• At projected returns (3.8% appreciation + 3.0% rent growth), your $148k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Climate carrying-cost: major wind risk, 27% 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.

Questions for listing agent

• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• 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?