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227/229 North Brown Street Fruitland, MD 21826

$455,000
0.27
Acres
2,274
SQFT
200
$/SQFT
$455,000
2,274   sf
$200 / sf
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active
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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.

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.

  • Neighborhood
    Cedar Commons
  • Type
    Townhouse
  • County
    Wicomico
  • Area
    Wicomico Southeast
  • Tax Amount
    $4,840
  • Status
    Active
  • Listing #
    MDWC2015080
  • Built
    2009
  • Lot Size
    0.27
  • Listed on site
    53 days
  • Listing Agent Id
    300359823077

Listed by:
SVN/Miller Commercial Real Estate

Source:
BRIGHT MLS

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Property details

Community Features

  • No HOA
  • No Adult Community

Property Features

  • No Builder Restrictions

Exterior features

  • No Pool
  • Parking Off-Street

Style

  • Traditional
  • Duplex
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