706 MADISON ST, Salisbury, MD 21804 – MDWC2017640

Key Details

Property Type Single Family Home

Sub Type Detached

Listing Status Active

Purchase Type For Sale

Square Footage 1,632 sqft

Price per Sqft $168

Subdivision None Available

MLS Listing ID MDWC2017640

Style Other

Bedrooms 3

Full Baths 1

Year Built 1935

Annual Tax Amount $1,693

Tax Year 2024

Lot Size 6,050 Sqft

Property Sub-Type Detached

Property Description

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.

Location

State MD

County Wicomico

Area Wicomico Southeast (23-04)

Zoning R8

Interior

Hot Water Electric

Heating Baseboard - Hot Water

Cooling Central A/C,Heat Pump(s)

Flooring Carpet,Hardwood,Vinyl

Equipment Dishwasher,Disposal,Dryer,Dryer - Gas,Refrigerator,Stove,Washer,Water Heater

Laundry Basement

Exterior

Exterior Feature Porch(es),Screened

Garage Spaces 3.0

Utilities Available Cable TV Available,Electric Available,Natural Gas Available,Sewer Available,Water Available

Water Access N

Roof Type Asbestos Shingle

Building

Lot Description Partly Wooded,Road Frontage

Story 2

Foundation Brick/Mortar

Sewer Public Sewer,Public Septic

Water Public

Structure Type Dry Wall

New Construction N

Schools

School District Wicomico County Public Schools

Others

Acceptable Financing Bank Portfolio,Cash,Conventional

Listing Terms Bank Portfolio,Cash,Conventional

Special Listing Condition Standard