Skip To Content

207 W Locust Street

SALISBURY, MD 21801
  • $2,375,070
  • STATUS: Pending
  • ON SITE: 44 Days
  • ID#: MDWC2004678
Pending
UPDATED: 54 min ago
$2,375,070
  • 0
    BEDS
  • 3.66
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 24,871
    SQFT
  • $95
    $/SQFT
Type:
Multi-Family
Built:
1900
County:

School Ratings & Info

Description

19 Home Portfolio +GG 17 single-family detached homes and 1 duplex (2 doors)The majority of homes are in Salisbury with the duplex located in Nanticoke and one home in FruitlandThe portfolio includes one, two, three, and four-bedroom homesPortfolio is self-managedOver $350,000 in improvements completed since 2017Average tenancy of 5 years with some tenants in place as long as 20 yearsValue-add opportunity with rents 30% below market rents$125,004 average home price is $100,000 below median home prices of $225,834 per NeighborhoodScoutHome prices have increased 14% in the past 12 monthsOpportunity to reduce expenses through professional management engagement73% of the homes in Salisbury are occupied by renters per NeighborhoodScoutStabilized cap rate of 7.45% with a gross yield of 11.19%

Monthly Payment Calculator



©2022 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 Bright Home Group | Keller Williams. 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: 2022-05-28T17:50:37.25.
www.brighthomesdelmarva.com/homes/127655710
Print Image

207 W Locust Street SALISBURY, MD 21801

  • Price: $2,375,070
  • Status: Pending
  • On Site: 44 Days
  • Updated: 54 min ago
  • ID#: MDWC2004678
0
Beds
0
Baths
0
½ Baths
3.66
Acres
24,871
SQFT
$95
$/SQFT
1900
Built
Neighborhood:
Wicomico Southwest (23-03)
County:
Wicomico
Area:
Wicomico Southwest (23-03)
School District:
Wicomico County Public Schools
Property Description
19 Home Portfolio +GG 17 single-family detached homes and 1 duplex (2 doors)The majority of homes are in Salisbury with the duplex located in Nanticoke and one home in FruitlandThe portfolio includes one, two, three, and four-bedroom homesPortfolio is self-managedOver $350,000 in improvements completed since 2017Average tenancy of 5 years with some tenants in place as long as 20 yearsValue-add opportunity with rents 30% below market rents$125,004 average home price is $100,000 below median home prices of $225,834 per NeighborhoodScoutHome prices have increased 14% in the past 12 monthsOpportunity to reduce expenses through professional management engagement73% of the homes in Salisbury are occupied by renters per NeighborhoodScoutStabilized cap rate of 7.45% with a gross yield of 11.19%
Exterior Features

Architectural Style Other Construction Materials Other Garage YN No Other Structures Above GradeBelow Grade Parking Types Other Pool No Pool Riparian Rights YN No Water Access YN No Water Oriented YN No Water View YN No Waterfront YN No

Interior Features

Above Grade Fin SQFT 24871 Below Grade Finished Area 0 Below Grade Unfinished Area 0 Cooling Other Heating Other Heating YN Yes Single Room Units 0 Three Bedroom Units 0 Two Bedroom Units 0

Property Features

Accessibility Features Other Assessment Year 2022 Central Air YN No Cooling Fuel Other Heating Fuel Other Hot Water Other Municipality Salisbury Navigable Water YN N New Construction YN No Number Of Units Total 1 Original MLSNumber 801476371998 Ownership Interest Fee Simple Possession Settlement Property Sub Type Other Sale Type Standard Sewer Public Sewer Structure Design Type Other Tax Annual Amount 465.00 Tax Assessment Amount 24200.00 Vacation Rental YN No Water Source Public Zoning R18

Listing courtesy of Svn/Miller Commercial Real Estate.


©2022 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 Bright Home Group | Keller Williams. 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: 2022-05-28T17:50:37.25.
 
https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801476371998-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801476371998-2.jpg https://bt-photos.global.ssl.fastly.net/brightmls/orig_boomver_1_801476371998-2.jpg
Logo
Bright Home Group | Keller Williams
14177 Whitesville Rd.
Delmar DE, 19940