NOT LISTED FOR SALE

222 E Main St Elkton, MD 21921

Estimated Value: $454,801

-- Bed
9 Baths
4,805 Sq Ft
$95/Sq Ft Est. Value

Last Sold December 07, 2018

Last sale price $275,000 $57 Per Sq Ft

Est. 65% increase in value since last sale

Current estimated payment $2,984/month

Highlights

  • 0.68 Acre Lot
  • Porch
  • Property is in very good condition
  • No HOA
  • Hot Water Heating System
  • Open Lot

About This Home

As of December 2018

Great investment opportunity. 9 units on East Main Street in Elkton. Large lot, large parking area. Close to downtown, parks and shops. Onsite coin-operated laundry in basement.

Last Agent to Sell the Property

Joseph A Zang III

(443) 553-0960 realtorzang@gmail.com RE/MAX Chesapeake License #621716 Listed on: 09/10/2018

RE/MAX Chesapeake

Last Buyer's Agent

Tabitha Bathgate

(443) 553-9109 tbathgate@kw.com Empower Real Estate, LLC License #531823

Empower Real Estate, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,512

Year Built

  • Built in 1900

Lot Details

  • 0.68 Acre Lot
  • Open Lot
  • Cleared Lot
  • Property is in very good condition

Home Design

  • 4,805 Sq Ft Home
  • Brick Exterior Construction
  • Combination Foundation
  • Plaster Walls
  • Asphalt Roof

Basement

  • Walk-Up Access
  • Side Exterior Basement Entry

Parking

  • Gravel Driveway
  • Shared Driveway
  • Off-Street Parking

Outdoor Features

  • Porch

Utilities

  • Window Unit Cooling System
  • Hot Water Heating System
  • Natural Gas Water Heater

Listing and Financial Details

  • The owner pays for accounting/legal, miscellaneous, insurance, repairs, supplies, personal property taxes
  • Assessor Parcel Number 0803053385

Community Details

Overview

  • No Home Owners Association
  • Elkton Subdivision

Building Details

  • Operating Expense $15,444

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,512

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Structure Type: Detached
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1900
  • Remarks Public: Great investment opportunity. 9 units on East Main Street in Elkton. Large lot, large parking area. Close to downtown, parks and shops. Onsite coin-operated laundry in basement.
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Wall Ceiling Types: Plaster Walls, Dry Wall
  • Basement: Yes
  • Basement Type: Outside Entrance, Side Entrance, Walkout Stairs, Combination
  • Total Sq Ft: 4805
  • Living Area Sq Ft: 4805
  • Price Per Sq Ft: 70.55
  • Above Grade Finished Sq Ft: 4805
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 222

Exterior Features

  • Other Structures: Above Grade
  • Construction Materials: Combination, Brick
  • Roof: Asphalt
  • Water Access: No
  • Waterfront: No
  • Water Oriented: No
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Parking Features: Shared Driveway, Gravel Driveway
  • Type Of Parking: Off Street, Driveway

Utilities

  • Central Air Conditioning: No
  • Cooling Fuel: Electric
  • Cooling Type: Window Unit(s)
  • Heating Fuel: Natural Gas
  • Heating Type: Hot Water
  • Heating: Yes
  • Hot Water: Natural Gas
  • Sewer/Septic System: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Condo Co-Op Association: No
  • HOA: No

Schools

  • School District: CECIL COUNTY PUBLIC SCHOOLS
  • School District Key: 121139799812
  • School District Source: Listing Agent

Lot Info

  • Improvement Assessed Value: 201100.00
  • Land Assessed Value: 162900.00
  • Lot Features: Cleared, Open
  • Lot Size Acres: 0.68
  • Lot Size Area: 29406
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 29406.00
  • Outdoor Living Structures: Porch(es)
  • Property Condition: Very Good
  • Year Assessed: 2018
  • Zoning: RO
  • In City Limits: Yes

Rental Info

  • Lease Term: Negotiable
  • Owner Pays: Accounting/Legal, Miscellaneous, Insurance, Repairs, Supplies, Taxes - Personal Property
  • Vacation Rental: No

Tax Info

  • Tax Annual Amount: 6511.96
  • Assessor Parcel Number: 0803053385
  • Tax Total Finished Sq Ft: 4805
  • County Tax Payment Frequency: Annually
  • Tax Year: 2017
  • Close Date: 12/07/2018

Multi Family

  • Gross Income: 71400.00
  • Operating Expense: 15444.00
  • Vacancy Allowance Rate: 20.00

MLS Schools

  • School District Name: CECIL COUNTY PUBLIC SCHOOLS

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 21, 2022
Sold by
Free State Equity Group Llc
Bought by
Johnson Peter D and Johnson Barbara Wintz
Current Estimated Value
$454,801

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$26,025
Interest Rate
3.39%
Mortgage Type
Construction

Purchase Details

Listed on
Sep 10, 2018
Closed on
Dec 7, 2018
Sold by
Wj Granger Llc
Bought by
Free State Equity Group Llc
Seller's Agent
Joseph A Zang III
RE/MAX Chesapeake
Buyer's Agent
Tabitha Bathgate
Empower Real Estate, LLC
List Price
$339,000
Sold Price
$275,000
Premium/Discount to List
-$64,000
-18.88%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
7.57%
Original Mortgage
$206,250
Interest Rate
4.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 31, 2014
Sold by
Kst Llc
Bought by
Wj Granger Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$153,500
Interest Rate
3.92%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 10, 2006
Sold by
Clark Properties Llc
Bought by
Kst Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$440,000
Interest Rate
6.17%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 7, 2006
Sold by
Clark Properties Llc
Bought by
Kst Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$440,000
Interest Rate
6.17%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 23, 2001
Sold by
Vela Cristobal and Vela Patricia
Bought by
Clark Properties Llc
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Johnson Peter D $385,000 New World Title
Free State Equity Group Llc $275,000 Sage Title Group Llc
Wj Granger Llc $150,000 Bayside Title Settlement Ser
Kst Llc $440,000 --
Kst Llc $440,000 --
Clark Properties Llc $215,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Johnson Peter D $26,025
Previous Owner Free State Equity Group Llc $206,250
Previous Owner Wj Granger Llc $153,500
Previous Owner Kst Llc $440,000
Previous Owner Kst Llc $440,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/07/2018 12/07/18 Sold $275,000 -18.9% $57 / Sq Ft
10/26/2018 10/26/18 Pending -- -- --
09/10/2018 09/10/18 For Sale $339,000 -- $71 / Sq Ft
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $7,251 $419,133 $0 $0
2024 $6,242 $360,800 $162,900 $197,900
2023 $6,275 $360,633 $0 $0
2022 $6,351 $360,467 $0 $0
2021 $6,223 $360,300 $162,900 $197,400
2020 $12,892 $360,300 $162,900 $197,400
2019 $6,446 $360,300 $162,900 $197,400
2018 $6,512 $364,000 $162,900 $201,100
2017 $6,148 $364,000 $0 $0
2016 $7,150 $364,000 $0 $0
2015 $7,150 $423,500 $0 $0
2014 $6,640 $423,500 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: 1003246760

Bright MLS

APN: 03-053385