MD > Fruitland > Cedar Commons
Fruitland, MD 21826,227/229 NORTH BROWN STREET
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Fruitland, MD 21826,227/229 NORTH BROWN STREET
Fruitland, MD 21826,227/229 NORTH BROWN STREET
Fruitland, MD 21826,227/229 NORTH BROWN STREET
Fruitland, MD 21826,227/229 NORTH BROWN STREET
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227/229 NORTH BROWN STREET Fruitland, MD 21826

2,274 SqFt

UPDATED:

09/24/2024 06:02 AM

Key Details

Property Type Townhouse

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

Bright MLS (BMLS)
Listed by Andrew Ball • SVN |Miller Commercial Real Estate

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