Real Estate Investing in Fairplay, Maryland (21733)
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Should you buy in 21733 (Fairplay, MD)? Our answer, based on the numbers below.
Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High price-to-rent: Price-to-rent ratio 27.8 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Fairplay, MD (21733)?
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Market Analysis: 21733 Fairplay
The 21733 ZIP covers a section of Fairplay that demands careful diligence. Prices near $414K look accessible, but the work to make a deal cash flow is real.
The investment case in 21733 is healthy only for operators who understand what they are buying. A $414K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 21733 among MD's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Stepping back, 1,240 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 21733 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Fairplay:
Market Trends
Home Value History (with trend line)
📊 How Does 21733 Compare?
| Metric | 21733 | Fairplay | Maryland |
|---|---|---|---|
| Home Value | $413,641 | $413,641 | $424,997 |
| 5-Year CAGR | 4.1% | 4.1% | 4.9% |
| Avg Rent | $1,242 | $1,242 | - |
| Cap Rate | 2.3% | 2.3% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 21733 (Fairplay, MD). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $413,641 |
| Monthly Rent | $1,242 |
| Price-to-Rent | 27.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 6.4% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +4.1% ▲ |
| 10-Year CAGR | +5.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 21733
Population: 1,240
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Nearby Colleges & Universities
Investor Insight: With 1,844 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What are home prices like in Fairplay, MD?
Median home price in Fairplay, MD is near $414K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
What approach is best for Fairplay, MD real estate?
The best-fit strategy in Fairplay, MD is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What is the renter demographic in Fairplay, MD?
Tenant quality in Fairplay, MD ranks as solid. Landlords generally report even-keeled occupancy at market rents of $1,242/mo.
Can owner-occupants cash flow in Fairplay, MD?
Fairplay, MD is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $414K price point reasonable to enter.
Is Fairplay, MD a smart market for rental property?
The 3.0/5 investability rating in Fairplay, MD reflects its $414K prices and $1,242/mo rents. Investors generally consider it a solid option within MD.
You know 21733 now. You don’t know where it ranks.
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How 21733 ranks in Hagerstown-Martinsburg, MD-WV
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