227/229 NORTH BROWN STREET Active Save Request In-Person Tour Request Virtual Tour
Fruitland,MD 21826
Key Details
Property Type Single Family Home, Multi-Family
Sub Type Twin/Semi-Detached
Listing Status Active
Purchase Type For Sale
Square Footage 2,274 sqft
Price per Sqft $200
Subdivision Cedar Commons
MLS Listing ID MDWC2015080
Style Traditional
Abv Grd Liv Area 2,274
Originating Board BRIGHT
Year Built 2009
Annual Tax Amount $4,840
Tax Year 2024
Lot Size 0.270 Acres
Acres 0.27
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.
Location
State MD
County Wicomico
Area Wicomico Southeast (23-04)
Zoning R-3
Interior
Hot Water Electric
Heating Heat Pump(s)
Cooling Heat Pump(s)
Heat Source Electric
Exterior
Garage Spaces 8.0
Water Access N
Roof Type Asphalt
Accessibility 2+ Access Exits
Total Parking Spaces 8
Garage N
Building
Foundation Crawl Space
Sewer Public Sewer
Water Public
Architectural Style Traditional
Additional Building Above Grade
New Construction N
Schools
School District Wicomico County Public Schools
Others
Tax ID NO TAX RECORD
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Financing Cash,Conventional
Special Listing Condition Standard