227-229 North Brown Street
Description
-Proforma NOI at market rent is $35,412.87 or 7.8% cap rate
- Both units are...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. 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.
- Listed by Andrew Ball • SVN/Miller Commercial Real EstateP: (410)-422-3672 andy.ball@svn.com
Property Details for 227-229 North Brown Street
Property Details for 227-229 North Brown Street
| Status | Active |
|---|---|
| MLS # | MDWC2015080 |
| Days on Market | 58 |
| Taxes | $4,840 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Multi-Family / Fee Simple |
| Year Built | 2009 |
| Lot Size | 0.27 AC / 11,761 SF |
| County | Wicomico County |
Building Information for 227-229 North Brown Street
Property Information for 227-229 North Brown Street
- In City Limits: Yes
- School District Name: WICOMICO COUNTY PUBLIC SCHOOLS
- School District County ID: 121138751831
- SchoolDistrictSource: Listing Agent
- County: WICOMICO
- MLS Area: Wicomico Southeast (23-04)
- Water View: No
- Water Access: No
- Water Oriented: No
- Navigable Water: No
- Tidal Water: No
- Riparian Rights Y/N: No
- Tax Year: 2024
- Tax Assessed Value: $268,200
- Year Assessed: 2024
- County Tax: $2,288
- City Town Tax: $2,262
- Municipal Trash: Yes
- Agricultural Tax Due: No
- Historic: No
- Zoning: R-3
- Automatically Update Tax Values Y/N: No
- Single Room Units Count: 0
- One Bedroom Units Count: 0
- Two Bedroom Units Count: 0
- Three Bedroom Units Count: 2
- Units Leased Count: 2
- Rent Control: No
- Gross Scheduled Income: $48,956
- Net Operating Income: $28,213
- Existing Lease Type: Yearly
- Building Units Total: 2
- Total Finished SQFT: 2,274.00
- Total Finished SQFT Source: Estimated
- Total SQFT: 2,274.00
- Total SQFT Source: Estimated
- Construction Materials: Combination
- Roof: Asphalt
- Foundation Details: Crawl Space
- Other Structure: Above Grade
- Lot Size Source: Estimated
- Ground Rent Exists: No
- Type Of Parking: Off Street, Driveway
- Off Street - # of Spaces: 8
- Accessibility Features: 2+ Access Exits
- Pool: No Pool
- Heating: Yes
- Cooling Type: Heat Pump(s)
- Cooling Fuel: Electric
- Heating Type: Heat Pump(s)
- Heating Fuel: Electric
- Hot Water: Electric
- Water Source: Public
- Sewer Septic: Public Sewer
- List Agent AOR: Coastal Association of REALTORS (MD)
Property History for 227-229 North Brown Street
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 227-229 North Brown Street
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 2 | |||
| Public - | 3 to 5 | |||
| Public - | 6 to 9 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Fruitland Primary School PublicPK to 2 | ||
Fruitland Intermediate School Public3 to 5 | ||
Bennett Middle School Public6 to 9 | ||
Parkside High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of SVN/Miller Commercial Real Estate
© 2024 Bright MLS. All rights reserved. All information is deemed reliable, but accuracy is not guaranteed. Listing information is from various brokers who participate in IDX and not all listings may be visible on the site. The property information being provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated on 09/24/2024 02:02 AM