$555,000
SOLD FEB 28, 2022

424 Harford St Perryville, MD 21903

-- Bed
-- Bath
3,032 Sq Ft
0.43 Acres

Recently Sold

$183 Per Sq Ft

3% Below List Price

5 Days on Market

Highlights

  • Water Oriented
  • Central Air
  • Back and Front Yard
  • No HOA
  • Heat Pump System

About This Home

As of February 2022

Excellent Passive investment property at a 7% cap rate. Mint condition 4 unit apartment building on a Cul-de-sac street in Downtown Perryville. Fully leased with yearly leases and renewals. Total annual rental income of $54,900/year. All tenants are paid up and current on their rent throughout Covid. All 4 units are 2 bedroom units with full kitchens, bathrooms, full size washer and dryers, Electric central heating and AC. All 4 units have been fully remodeled between 2018 and 2021 with vinyl waterproof plank flooring or carpet, new paint, updated bathrooms and kitchens. There will be extremely low maintenance costs on this building moving forward for new ownership. Tenants pay for their own electric, cable, and snow removal. Landlord pays for water, sewer, lawn, and (trash --covered in city taxes). Rent roll and financial breakdown available in documents section. 30 year fixed residential financing available for this type of property at historically low interest rates. Proof of funds required prior to showings. Do not walk on premises or disturb tenants!

Last Agent to Sell the Property

Donald Feazell

Garceau Realty License #76453 Listed on: 01/14/2022

Last Buyer's Agent

Gene Drubetskoy

EXP Realty, LLC License #666548

EXP Realty, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,759

Year Built

  • Built in 1987 | Remodeled in 2018

Lot Details

  • 0.43 Acre Lot
  • Back and Front Yard

Home Design

  • 3,032 Sq Ft Home
  • Quadruplex
  • Brick Exterior Construction
  • Slab Foundation
  • Vinyl Siding

Parking

  • 8 Open Parking Spaces
  • 8 Parking Spaces
  • Driveway
  • Parking Lot
  • Off-Street Parking

Accessible Home Design

  • Doors are 32 inches wide or more

Outdoor Features

  • Water Oriented
  • River Nearby

Utilities

  • Central Air
  • Heat Pump System
  • Electric Water Heater
  • Municipal Trash

Listing and Financial Details

  • The owner pays for insurance, repairs, sewer, real estate taxes, water, trash collection
  • Assessor Parcel Number 0807031440

Community Details

Overview

  • No Home Owners Association
  • 4 Units
  • 2-Story Building

Building Details

  • Income includes apartment rentals

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,759

Year Built

Built in 1987 | Remodeled in 2018

Lot Details

0

Listing Details

  • Property Type: Multi-Family
  • Property Sub Type: Quadruplex
  • Structure Type: Detached
  • Accessibility Features: 32"+ Wide Doors
  • Ownership: Fee Simple
  • New Construction: No
  • Year Built: 1987
  • Year Renovated: 2018
  • Automatically Close On Close Date: No
  • Building Winterized: No
  • Remarks Public: Excellent Passive investment property at a 7% cap rate. Mint condition 4 unit apartment building on a Cul-de-sac street in Downtown Perryville. Fully leased with yearly leases and renewals. Total annual rental income of $54,900/year. All tenants are paid up and current on their rent throughout Covid. All 4 units are 2 bedroom units with full kitchens, bathrooms, full size washer and dryers, Electric central heating and AC. All 4 units have been fully remodeled between 2018 and 2021 with vinyl waterproof plank flooring or carpet, new paint, updated bathrooms and kitchens. There will be extremely low maintenance costs on this building moving forward for new ownership. Tenants pay for their own electric, cable, and snow removal. Landlord pays for water, sewer, lawn, and (trash --covered in city taxes). Rent roll and financial breakdown available in documents section. 30 year fixed residential financing available for this type of property at historically low interest rates. Proof of funds required prior to showings. Do not walk on premises or disturb tenants!
  • Special Features: None

Interior Features

  • Fireplace: No
  • Foundation Details: Slab
  • Basement: No
  • Total Sq Ft: 3032
  • Living Area Sq Ft: 3032
  • Price Per Sq Ft: 189.64
  • Above Grade Finished Sq Ft: 3032
  • Above Grade Finished Area Units: Square Feet
  • Street Number Modifier: 424

Exterior Features

  • Other Structures: Above Grade, Below Grade
  • Construction Materials: Brick, Vinyl Siding
  • Water Access: No
  • Water Body Type: River
  • Waterfront: No
  • Water Oriented: Yes
  • Pool: No Pool
  • Tidal Water: No
  • Water View: No

Garage/Parking

  • Garage: No
  • Total Garage And Parking Spaces: 8
  • Type Of Parking: Driveway, Off Street, Parking Lot
  • Parking Lot Number Of Spaces: 8

Utilities

  • Central Air Conditioning: Yes
  • Cooling Fuel: Electric
  • Cooling Type: Central A/C
  • Heating Fuel: Electric
  • Heating Type: Heat Pump(s)
  • Heating: Yes
  • Hot Water: Electric
  • Sewer/Septic System: Public Sewer
  • Water Source: Public
  • Municipal Trash: Yes

Condo/Co-op/Association

  • HOA: No
  • Association Recreation Fee: No

Schools

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

Lot Info

  • Lot Features: Front Yard, Rear Yard
  • Lot Size Acres: 0.43
  • Lot Size Units: Square Feet
  • Lot Sq Ft: 18883.00
  • Zoning: TC
  • In City Limits: Yes

Rental Info

  • Existing Lease Type: Yearly
  • Owner Pays: Insurance, Repairs, Sewer, Taxes - Real Estate, Water, Trash Collection
  • Rent Control: No
  • Units Leased Count: 4
  • Vacation Rental: No

Tax Info

  • Assessor Parcel Number: 4476900
  • Tax Annual Amount: 4759.00
  • Assessor Parcel Number: 0807031440
  • Tax Year: 2021
  • Close Date: 02/28/2022

Multi Family

  • Income Includes: Apartment Rentals
  • Vacancy Allowance Rate: 5.00

MLS Schools

  • School District Name: CECIL COUNTY PUBLIC SCHOOLS

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/28/2022 02/28/22 Sold $555,000 -3.5% $183 / Sq Ft
01/19/2022 01/19/22 Pending -- -- --
01/14/2022 01/14/22 For Sale $575,000 +42.0% $190 / Sq Ft
07/08/2020 07/08/20 Sold $405,000 -6.9% $134 / Sq Ft
06/23/2020 06/23/20 Pending -- -- --
06/22/2020 06/22/20 For Sale $435,000 0.0% $143 / Sq Ft
02/04/2020 02/04/20 Rented $1,025 -6.8% --
12/30/2019 12/30/19 For Rent $1,100 0.0% --
03/12/2014 03/12/14 Sold $270,000 -9.1% --
12/31/2013 12/31/13 Pending -- -- --
10/29/2013 10/29/13 For Sale $297,000 -- --
Source: Bright MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: Bright MLS

MLS Number: MDCC2003092

Bright MLS