RARE Investment Opportunity.

706 Madison is a two story 3 bedroom/1 full bath home that has recently been remodeled. This home also has a finished basement. Currently rented for $1,450./month. Landlord pays taxes and insurance. Water and sewer bills are reimbursed by the tenant(s). Located on the same parcel, there is also a one story, 2-bedroom, 1 full bath home that is in great condition, which could serve as an additional rental, in-law quarters, or an office for one’s business.


709 Webster Street: This is a parking lot for the tri-plex known as 711 Webster.


711 Webster Street: This two-story home contains three rental units that are in very good condition with substantial upgrades completed w/in the last 5 years. Unit one is a second-floor unit containing 1 bedroom, 1 full bath, and is rented at $550./month. Unit #2 is a first floor 1 bedroom, 1 full bath, and is leased at $675./month. Unit 3 is a first floor 1 bedroom, 1 full bath, with an expansive kitchen and is leased for $875./month. Landlord pays taxes, insurance, water and sewer bills, and the natural gas bill during the winter months. Window air conditioners (30 are provided for air conditioning. Each unit is separately metered for electricity, which is paid by the tenants. There is also a workshop/storage unit attached to the apartment building. Although needing to be subdivided, there is an opportunity for a building lot that fronts on Madison and Webster streets.


All units have full risk reduction lead paint certificates. All homes being sold as-is, where-is. Leases can also be provided.


709-711 Webster can be purchased separately for $245,000. and the Madison Street homes can be purchased separately for $275,000. or one can purchase all for a reduced price of $495,000.

• Status: Active
• MLS #: MDWC2017646
• Days On Market: 18
• Taxes: $1153 / 2024
• Property Type: Residential
• Year Built: 1937
• Lot Size: 0.34 / 14810.4
• InteriorFeatures: Carpet, Kitchen - Efficiency, Ceiling Fan(s), Flat
• Courtesy of: ERA Martin Associates

Property Information

• Accessibility Features: None
• New Construction: No
• Roof: Metal
• Structure Design Type: Detached
• Style: Other
• Levels: 2
• Property Condition: Very Good

Community

• County: WICOMICO-MD
• City: SALISBURY
• Zip: 21804
• Subdivision: NONE AVAILABLE

School

• School District: WICOMICO COUNTY PUBLIC SCHOOLS
• Elementary School: -
• Middle School: -
• High School: -

Amenities

• Property: Residential
• MLS: ACTIVE-BRIGHT
• Acres: 0.34
• Status: Active
• Basement: No
• Year Built: 1937
• Lot SQFT: 14810.4
• Lot Size Units: Square Feet
• Structure Design Type: Detached