306 Ocean Pkwy · Ocean Pines, MD 21811

$325,000

3 bd · 2.0 ba · 1,388 sqft · SingleFamily public records · 228 Days on market

Built 1978 7,849 sqft lot $234/sqft · 19% below area Est $400k · 19% under $73/mo HOA · 3% of rent ↓ 15% since listing

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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 +17.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.4/10.0
• 1% rule +4.0/10.0
• Livability +3.5/5.0
• Schools +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW PRICE! This home has many special features and is ready for immediate occupancy. This 3-bedroom and 2 full bath raised rancher has a big back enclosed porch, a front enclosed porch and two decks- one in the front and 1 in the back. It has an unfinished basement for storage and a single car garage on the ground level. New roof in the last 20 years and a new H/P. Newer cabinets and flooring in kitchen and dining area. There is a central vacuum system. Lots of storage space under the house. Gas fireplace in the spacious Living Room and a few steps up to the dining room and kitchen. Laundry room has the access door to the garage and basement storage areas. Walking distance to White Horse Park for the playground, Farmer's Market on Saturdays, Gift Shop or outdoor concerts. Easy walk to the Swim and Raquet Club complex with pool and bay access with beach and docks, tennis courts and walking trail. Easy to see. Seller says bring all offers.

Key facts

• 7,849 sq ft lot
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $325k.

Deal economics

• At list price, monthly cash flow is $244 ($3k/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 $292k (10.2% below list).
• Recommended offer: $286k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.3% in Ocean Pines — 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 70/100 on livability (#172 in MD) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, amenities F, commute F.
• Worcester County Public Schools (town): math 30% / reading 44% proficiency, ranked #6 of 24 in MD (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Showell Elementary (math 26% / reading 30%, grade F, #220 of 860 statewide, top 26%, 621 students, 37% FRL); Stephen Decatur Middle (math 24% / reading 43%, grade F, #53 of 225 statewide, top 24%, 697 students, 50% FRL); Stephen Decatur High (math 64% / reading 78%, grade B+, #37 of 222 statewide, top 17%, 1,431 students, 42% FRL) — zoned schools at 43% FRL track the district average.
• Market conditions: 315 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 354 units permitted in Worcester County in 2024 (6 in 5+ unit buildings).
• This rent runs 39% of the median local income ($90k/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 $10k of value loss. Plan a longer hold.
• Worcester County population projected to shrink 4% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.

Negotiation context

• It's been on market 228 days — a 12% lower offer ($286k) is reasonable based on typical stale-listing flexibility.

Recommended offer $286,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 228 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.22%
• DSCR: 1.14
• GRM: 9.3

CMA / ARV

• ARV (median comp): $399,750
• List price: $325,000
• Delta: -18.70%
• 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
16 Hickory Way	0.30mi	3/2.0	1,351 (-3%)	6mo	$360,000	$266	76
57 Hatteras St	0.49mi	3/2.0	1,408 (+1%)	1mo	$373,000	$265	74
20 Camelot Cir	0.41mi	3/2.0	1,452 (+5%)	2mo	$380,000	$262	72
1040 Ocean Pkwy	0.28mi	3/2.0	1,300 (-6%)	7mo	$335,000	$258	71
11531 Manklin Creek Rd	0.57mi	3/2.0	1,408 (+1%)	2mo	$388,000	$276	69
139 Camelot Cir	0.68mi	3/2.0	1,360 (-2%)	0mo	$335,900	$247	65
11 Cambridge Pl	0.61mi	3/2.0	1,408 (+1%)	8mo	$399,000	$283	63
52 Nottingham Ln	0.37mi	3/2.0	1,213 (-13%)	2mo	$372,500	$307	60
60 Nottingham Ln	0.38mi	3/2.0	1,232 (-11%)	5mo	$307,000	$249	59
3 Nottingham Ln	0.29mi	3/2.0	1,179 (-15%)	5mo	$387,500	$329	58
50 King Richard Rd	0.40mi	3/2.0	1,218 (-12%)	5mo	$350,000	$287	57
55 High Sheriff Trl	0.38mi	4/3.0 (+1)	1,584 (+14%)	3mo	$390,000	$246	48

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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-37,162
• Equity at exit: $48,459

10-year hold

• IRR: -2.0%
• Equity multiple: 0.86×
• Total profit: $-12,590
• Equity at exit: $28,100

Cash invested: $91,000 (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 21811

• Home prices YoY: -29.0%
• Active inventory: 315
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,919 medium
• Mortgage (P&I): −$1,704
• Tax from tax record: −$149 /mo · $1,785/yr
• Insurance: −$135
• HOA: −$73
• Vacancy / Maint / Mgmt: −$613
• Net cashflow: $244

Break-even live

Break-even rent $2,610

Max offer price $325,000

Occupancy floor 87%

Sensitivity live

Price	-10% $428	-5% $336	+0% $244	+5% $153	+10% $61
Rent	-10% $14	-5% $129	+0% $244	+5% $360	+10% $475
Rate	-1.0pp $408	-0.5pp $327	base $244	+0.5pp $160	+1.0pp $75

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45 Offshore Ln Berlin, MD	2.0	2.0	1176	$2,000	$1.70	22d	1	1.02mi
11 Abbyshire Rd Berlin, MD	3.0	2.0	1820	$2,295	$1.26	22d	1	1.29mi

HOA detail

• Monthly dues: $73 · $876/yr
• Likely covers: gaspool

Listing history 19 events

1. 2026-06-18
   days on market $325,000 Active 228 DOM
2. 2026-06-17
   days on market $325,000 Active 227 DOM
3. 2026-06-16
   days on market $325,000 Active 226 DOM
4. 2026-06-15
   days on market $325,000 Active 225 DOM
5. 2026-06-14
   days on market $325,000 Active 223 DOM
6. 2026-06-13
   days on market $325,000 Active 222 DOM
7. 2026-06-10
   days on market $325,000 Active 220 DOM
8. 2026-06-09
   days on market $325,000 Active 219 DOM
9. 2026-06-08
   days on market $325,000 Active 218 DOM
10. 2026-06-07
    pricedays on market $325,000 Active 217 DOM
11. 2026-06-02
    days on market $339,900 Active 212 DOM
12. 2026-06-01
    days on market $339,900 Active 211 DOM
13. 2026-05-31
    days on market $339,900 Active 210 DOM
14. 2026-05-30
    days on market $339,900 Active 209 DOM
15. 2026-05-20
    price $339,900 951-char remark

    Show marketing remark (951 chars)

    NEW PRICE! This home has many special features and is ready for immediate occupancy. This 3-bedroom and 2 full bath raised rancher has a big back enclosed porch, a front enclosed porch and two decks- one in the front and 1 in the back. It has an unfinished basement for storage and a single car garage on the ground level. New roof in the last 20 years and a new H/P. Newer cabinets and flooring in kitchen and dining area. There is a central vacuum system. Lots of storage space under the house. Gas fireplace in the spacious Living Room and a few steps up to the dining room and kitchen. Laundry room has the access door to the garage and basement storage areas. Walking distance to White Horse Park for the playground, Farmer's Market on Saturdays, Gift Shop or outdoor concerts. Easy walk to the Swim and Raquet Club complex with pool and bay access with beach and docks, tennis courts and walking trail. Easy to see. Seller says bring all offers.

16. 2026-04-11
    price $369,900 951-char remark

    Show marketing remark (951 chars)

    NEW PRICE! This home has many special features and is ready for immediate occupancy. This 3-bedroom and 2 full bath raised rancher has a big back enclosed porch, a front enclosed porch and two decks- one in the front and 1 in the back. It has an unfinished basement for storage and a single car garage on the ground level. New roof in the last 20 years and a new H/P. Newer cabinets and flooring in kitchen and dining area. There is a central vacuum system. Lots of storage space under the house. Gas fireplace in the spacious Living Room and a few steps up to the dining room and kitchen. Laundry room has the access door to the garage and basement storage areas. Walking distance to White Horse Park for the playground, Farmer's Market on Saturdays, Gift Shop or outdoor concerts. Easy walk to the Swim and Raquet Club complex with pool and bay access with beach and docks, tennis courts and walking trail. Easy to see. Seller says bring all offers.

17. 2026-03-02
    price $375,000 951-char remark

    Show marketing remark (951 chars)

    NEW PRICE! This home has many special features and is ready for immediate occupancy. This 3-bedroom and 2 full bath raised rancher has a big back enclosed porch, a front enclosed porch and two decks- one in the front and 1 in the back. It has an unfinished basement for storage and a single car garage on the ground level. New roof in the last 20 years and a new H/P. Newer cabinets and flooring in kitchen and dining area. There is a central vacuum system. Lots of storage space under the house. Gas fireplace in the spacious Living Room and a few steps up to the dining room and kitchen. Laundry room has the access door to the garage and basement storage areas. Walking distance to White Horse Park for the playground, Farmer's Market on Saturdays, Gift Shop or outdoor concerts. Easy walk to the Swim and Raquet Club complex with pool and bay access with beach and docks, tennis courts and walking trail. Easy to see. Seller says bring all offers.

18. 2025-11-03
    listed $399,000 Active 951-char remark

    Show marketing remark (951 chars)

    NEW PRICE! This home has many special features and is ready for immediate occupancy. This 3-bedroom and 2 full bath raised rancher has a big back enclosed porch, a front enclosed porch and two decks- one in the front and 1 in the back. It has an unfinished basement for storage and a single car garage on the ground level. New roof in the last 20 years and a new H/P. Newer cabinets and flooring in kitchen and dining area. There is a central vacuum system. Lots of storage space under the house. Gas fireplace in the spacious Living Room and a few steps up to the dining room and kitchen. Laundry room has the access door to the garage and basement storage areas. Walking distance to White Horse Park for the playground, Farmer's Market on Saturdays, Gift Shop or outdoor concerts. Easy walk to the Swim and Raquet Club complex with pool and bay access with beach and docks, tennis courts and walking trail. Easy to see. Seller says bring all offers.

19. 2025-09-03
    historical $399,000 951-char remark

    Show marketing remark (951 chars)

    NEW PRICE! This home has many special features and is ready for immediate occupancy. This 3-bedroom and 2 full bath raised rancher has a big back enclosed porch, a front enclosed porch and two decks- one in the front and 1 in the back. It has an unfinished basement for storage and a single car garage on the ground level. New roof in the last 20 years and a new H/P. Newer cabinets and flooring in kitchen and dining area. There is a central vacuum system. Lots of storage space under the house. Gas fireplace in the spacious Living Room and a few steps up to the dining room and kitchen. Laundry room has the access door to the garage and basement storage areas. Walking distance to White Horse Park for the playground, Farmer's Market on Saturdays, Gift Shop or outdoor concerts. Easy walk to the Swim and Raquet Club complex with pool and bay access with beach and docks, tennis courts and walking trail. Easy to see. Seller says bring all offers.

ⓘ 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: $1,785 · $149/mo
• Projected year-2 tax: $2,664 · $222/mo
• Expected delta: +$879/yr (+$73/mo · 49.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $35,028
• − Mortgage interest: −$18,205
• − Property taxes: −$1,785
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,802
• − Management: −$2,802
• − HOA: −$876
• − Depreciation: −$9,455
• Taxable loss: −$2,522
• Est. tax savings @ 24.0%: +$605
• After-tax cash flow: $3,539/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: Worcester County Public Schools
• NCES district ID: 2400720
• Math proficiency: 30% ▼ -25.00%
• Reading proficiency: 44% ▼ -20.00%
• Median HH income: $56,748
• Composite: 32.6/100
• National rank: #5672
• State rank: #6 of 24 in MD

Livability — Ocean Pines

• Score: 70/100
• State rank: #172
• US rank: #7691

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ocean Pines, MD
• County: Worcester County · 35,603 people
• Metro: Salisbury, MD-DE
• Population (ZIP): 24,377
• Household income: $90,082
• Rent vs Own: 16.7% rent · 83.3% own
• Severe rent burden: 551.0

Population outlook (Worcester County) Hauer SSP2

• Today (2025): 51,363 people
• By 2030: 51,191 · -0.3%
• By 2040: 50,459 · -1.8%
• By 2050: 49,451 · -3.7%
• By 2075: 48,533 · -5.5%
• By 2100: 44,223 · -13.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Black 9% Two or more races 5% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 4% Italian 2% Lithuanian 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% French/Haitian/Cajun 1%

Political lean MEDSL · Worcester

• 2024 margin: Strong R (+22.0) · D 38.0% · R 60.0% · Other 2.0%
• 2008→2024 swing: -6.5pp toward R · 2008: -15.5pp · 2024: -22.0pp
• All cycles: 2024: R+22.0 2020: R+19.0 2016: R+27.9 2012: R+18.3 2008: R+15.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -119.52%
• Current HPI: 292.9004
• Rent YoY: —
• 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

-14.8% since first listed

5 events — show timeline

• 2026-05-20 Price Changed $339,900 BRIGHT MLS
• 2026-04-11 Price Changed $369,900 BRIGHT MLS
• 2026-03-02 Price Changed $375,000 BRIGHT MLS
• 2025-11-03 Listed $399,000 BRIGHT MLS
• 2025-09-03 Coming Soon $399,000 BRIGHT MLS

Property tax history

+3.9%/yr

Latest (2025): $1,785 · +0.8% YoY. Source: county tax records.