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227/229 North Brown Street

FRUITLAND, MD 21826
  • $455,000
  • STATUS: Active
  • ON SITE: 82 Days
  • ID#: MDWC2015080
UPDATED: 17 min ago
$455,000
  • 0
    BEDS
  • 0.27
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,274
    SQFT
  • $200
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
2009
County:

School Ratings & Info

Description

Investment Opportunity in a Strong Rental Market. No changes in asking rent for the last 3 years and current market rent is $75-$100 higher per bedroom.- 2 unit, 2274 Square Foot Duplex consisting of Two, Three Bedroom/Three bath units & are rented for 2024/2025 school year. -Rental Income of $48,956 and NOI of $28,212.87 -Proforma NOI at market rent is $35,412.87 or 7.8% cap rate- Both units are in great condition with no deferred maintenance. -Tenants are responsible for all utilities & water/sewer. -The leases are designed to give the Landlord 12 days to turn the unit while rent is still being paid. -Buyers can tour the interior of the units with an agreed upon LOI.

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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lisa Mathena Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-12-04T19:51:55.537.
www.lisasellsdelaware.com/homes/155099256
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227/229 North Brown Street FRUITLAND, MD 21826

  • Price: $455,000
  • Status: Active
  • On Site: 82 Days
  • Updated: 17 min ago
  • ID#: MDWC2015080
0
Beds
0
Baths
0
½ Baths
0.27
Acres
2,274
SQFT
$200
$/SQFT
2009
Built
Neighborhood:
Cedar Commons
County:
Wicomico
Area:
Wicomico Southeast (23-04)
School District:
Wicomico County Public Schools
Property Description
Investment Opportunity in a Strong Rental Market. No changes in asking rent for the last 3 years and current market rent is $75-$100 higher per bedroom.- 2 unit, 2274 Square Foot Duplex consisting of Two, Three Bedroom/Three bath units & are rented for 2024/2025 school year. -Rental Income of $48,956 and NOI of $28,212.87 -Proforma NOI at market rent is $35,412.87 or 7.8% cap rate- Both units are in great condition with no deferred maintenance. -Tenants are responsible for all utilities & water/sewer. -The leases are designed to give the Landlord 12 days to turn the unit while rent is still being paid. -Buyers can tour the interior of the units with an agreed upon LOI.
Exterior Features

Architectural Style Traditional Construction Materials Combination Garage YN No Parking Types Off StreetDriveway Pool No Pool Property Condition Very Good Roof Asphalt Water Access YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 2274 Cooling Heat Pump(s) Heating Heat Pump(s) Heating YN Yes Single Room Units 0 Three Bedroom Units 2 Two Bedroom Units 0

Property Features

Acceptable Financing CashConventional Accessibility Features 2+ Access Exits Central Air YN No Cooling Fuel Electric Existing Lease Type Yearly Foundation Details Crawl Space Heating Fuel Electric Historic YN No Hot Water Electric Navigable Water YN N Net Operating Income 28212.87 New Construction YN No Number Of Units Leased 2 Number Of Units Total 2 Original MLSNumber 803345379780 Ownership Interest Fee Simple Property Sub Type Duplex Rent Control YN No Sale Type Standard Sewer Public Sewer Structure Design Type Twin/Semi-Detached Tax Annual Amount 4840.00 Vacation Rental YN No Water Source Public Zoning R-3

Listing courtesy of SVN/Miller Commercial Real Estate: .


©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or The Lisa Mathena Group. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-12-04T19:51:55.537.
 
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