230 Lakewood Drive
Salisbury, MD 21804
- – beds
- – baths
- 2,688 sqft
- 14,810 sqft lot
- $176 per sqft
- 2002 build
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Investment Opportunity in a Strong Rental Market 2 unit, 2688 Square Foot Duplex on Tony Tank Pond consisting of Two, Four Bedroom/Two bath units Rental Income of $50,780 and NOI of $36,213 which includes professional management. 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. Both units are fully rented for 2024/2025 school year. Buyers can tour the interior of the units with an agreed upon LOI.
Last checked:
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Last updated Nov 9, 2024
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MLS# MDWC2014740 —
The Building
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Year Built:2002
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Year Built Source:Estimated
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New Construction:No
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Construction Materials:Combination
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Structure Type:Twin/Semi-Detached
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Architectural Style:Contemporary
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Building Units Total:2
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Accessibility Features:None
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Foundation Details:Block
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Total SqFt Source:Estimated
Interior
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Fireplace:No
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Living Area SqFt Source:Estimated
Room Dimensions
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Total SqFt:2688
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Living Area SqFt:2,688 Sqft
Financial & Terms
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Sale Type:Standard
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Buyer Financing:Conventional
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Possession:0-30 Days CD
Location
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Directions:Located in Salisbury, this area offers a strategic advantage for an occupied student rental investment. It's very close proximity to Salisbury University, provides a solid tenant base with minimal marketing.
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Latitude:38.33510000
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Longitude:-75.60821000
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Location Type:Corner Lot/Unit
The Property
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Property Subtype:Duplex
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Property Type:Multi-Family
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Lot Size Units:Square Feet
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Lot Size Acres:0.34
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Lot Size Source:Estimated
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Lot SqFt:14,810 Sqft
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Zoning:R-5
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View:Pond
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In City Limits:Yes
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Other Structures:Above Grade
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Water View:Yes
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Waterfront:Yes
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Water Oriented:Yes
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Water Access:Yes
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Water Body Type:Pond
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Water Frontage In Feet:40
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Tidal Water:No
Listing Agent
- Contact info:
- Agent phone:
- (410) 422-3672
- Office phone:
- (410) 543-2440
Taxes
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Tax ID Number:2313061718
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Tax Year:2024
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Tax Annual Amount:$4,899
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Tax Assessed Value:$243,500
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County Tax:2136.00
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City/Town Tax:2492.00
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Total Taxes Payment Frequency:Annually
The Listing
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Close Sale Type:Standard Sale
Heating & Cooling
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Cooling Type:Heat Pump(s)
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Central Air:No
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Cooling Fuel:Electric
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Heating:Yes
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Heating Type:Heat Pump(s)
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Heating Fuel:Electric
Utilities
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Sewer/Septic:Public Sewer
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Hot Water:60+ Gallon Tank
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Water Source:Public
Schools
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School District Name:Wicomico County Public Schools
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School District Source:Listing Agent
The Community
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Pool:No Pool
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Spa:No
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Cap Rate:7.62
Parking
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Total Garage and Parking Spaces:6
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Garage:No
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Type of Parking:Off Street, Parking Lot
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Off Street - # of Spaces:6
Extra Units
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Vacation Rental:No
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Three Bedroom Units:2
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
11/8/24
Nov 8, 2024
|
Sold | BRIGHT | $475,000 | |
|
8/22/24
Aug 22, 2024
|
Sold Subject To Contingencies | BRIGHT | $475,000 | |
|
8/14/24
Aug 14, 2024
|
Listed / Active | BRIGHT | $475,000 |
