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Key Details
Sold Price $240,000
Property Type Single Family Home
Sub Type Detached
Listing Status Sold
Purchase Type For Sale
Square Footage 2,480 sqft
Price per Sqft $96
Subdivision None Available
MLS Listing ID MDWC2011612
Sold Date 02/23/24
Style Colonial
Bedrooms 5
Full Baths 2
HOA Y/N N
Abv Grd Liv Area 2,480
Originating Board BRIGHT
Year Built 1935
Annual Tax Amount $1,400
Tax Year 2023
Lot Size 0.378 Acres
Acres 0.38
Lot Dimensions 0.00 x 0.00
Property Description
**Welcome to a Prime Investment Opportunity in the Heart of Fruitland, Maryland! This duplex is strategically located and caters to both seasoned investors and first-time homebuyers eager to offset their mortgage costs through rental income. The duplex comprises two units, with the first boasting a spacious 3-bedroom, 1-bathroom layout, while the second unit offers a cozy 2-bedroom, 1-bathroom space.
*Investors will find this property particularly enticing, offering the flexibility to maximize returns by renting out both units or residing in one while leasing the other. The potential for dual rental income adds a lucrative dimension to your investment strategy, making this duplex a wise addition to your portfolio.
*First-time homebuyers, envision owning a property where your mortgage is partially covered by the rental income from the second unit. This practical approach allows you to step into homeownership seamlessly while enjoying the financial benefits of real estate investment.
*Conveniently located in Fruitland, the duplex provides proximity to local amenities, schools, and parks. Its strategic location not only enhances its appeal to tenants but also positions it for long-term value appreciation as the community continues to grow.
*The duplex's unique configuration ensures broad tenant appeal, attracting families to the 3-bed unit and accommodating smaller households or professionals in the 2-bed unit. This diversity ensures a steady stream of rental revenue for savvy investors.
*What sets this property apart is its commitment to compliance and professional management. Rest assured, it comes with all the proper licenses and permits, offering you a worry-free investment. Currently professionally managed, this duplex provides a hands-off experience for investors, allowing you to enjoy the benefits of ownership without the day-to-day hassles.
*Fruitland's positive growth trajectory adds to the allure of this investment. As the community flourishes, so will the value of your property, providing a foundation for long-term financial stability.*
*Whether you're looking to diversify your investment portfolio or embark on homeownership with a savvy financial approach, this duplex offers an exceptional opportunity. Contact us today to schedule a viewing and explore the endless possibilities that await you in Fruitland, Maryland.
Location
State MD
County Wicomico
Area Wicomico Southeast (23-04)
Zoning R1C
Rooms
Basement Outside Entrance
Main Level Bedrooms 3
Interior
Interior Features Entry Level Bedroom, Ceiling Fan(s), Crown Moldings
Hot Water Electric
Heating Radiator
Cooling Central A/C
Window Features Insulated,Screens
Heat Source Natural Gas
Exterior
Exterior Feature Porch(es)
Utilities Available Natural Gas Available, Electric Available, Sewer Available
Water Access N
Roof Type Asphalt
Accessibility None
Porch Porch(es)
Road Frontage Public
Garage N
Building
Lot Description Cleared, Trees/Wooded
Story 2
Foundation Block
Sewer Public Sewer
Water Public
Architectural Style Colonial
Level or Stories 2
Additional Building Above Grade, Below Grade
New Construction N
Schools
High Schools Parkside
School District Wicomico County Public Schools
Others
Senior Community No
Tax ID 2316021385
Ownership Fee Simple
SqFt Source Estimated
Acceptable Financing Conventional, Bank Portfolio, FHA
Listing Terms Conventional, Bank Portfolio, FHA
Financing Conventional,Bank Portfolio,FHA
Special Listing Condition Standard
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Bought with Joshua Mast • HomeSource Pro Real Estate