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.
Fruitland is located in Maryland. Fruitland, Maryland has a population of 5,455. Fruitland is more family-centric than the surrounding county with 40.23% of the households containing married families with children. The county average for households married with children is 25.13%.
The median household income in Fruitland, Maryland is $56,150. The median household income for the surrounding county is $63,610 compared to the national median of $69,021. The median age of people living in Fruitland is 28.3 years.
The average high temperature in July is 87.8 degrees, with an average low temperature in January of 27.2 degrees. The average rainfall is approximately 45.5 inches per year, with 7.7 inches of snow per year.
