124 Main Street
Elkton, MD 21921
MLS #CC9771872

  • 8units
  • 0.07acres
  • 3,588sq ft
Est. P&I payment: $2387.08/mo
124 Main Street, Elkton, MD 21921
Description for 124 Main Street, Elkton, MD 21921
This property is a mixed use investment property with (2) commercial units and (6) residential units. Excellent cash flow, selling at an 11% cap rate. Downtown central business district close to the hospital, courthouses, and post office. Commercial tenants are a pizza shop and Cecil County Tourism office.
MLS #CC9771872
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My Notes for MLS #CC9771872

General Features

  • Property Type: Multi-Family
  • Type: Over Storefront
  • Year Built: 1900
  • Total Units: 8
  • Unit List: Efficiency,​One Bedroom,​Two Bedroom,​Three Bedroom
  • One Bedroom Units: 4
  • Two Bedroom Units: 1
  • Three Bedroom Units: 2
  • Efficiency Units: 1

Exterior Features

  • Exterior: Brick
  • Stories: 3
  • Handicap: None
  • Lot AreaAcre: 0.067998
  • Lot Size Area: 2,962
  • Parking: Other
  • Water Front: N

Interior Features

  • Tax Total Living Area: 3,588
  • Basement: Y
  • Basement Entrance: Outside Entrance
  • Basement Type: Unfinished

Utilities Features

  • Cooling Fuel: Natural Gas
  • Cooling: Central Air Conditioning
  • Heating Fuel: Natural Gas
  • Heating: Radiator
  • Hot Water: Natural Gas
  • Sewer Septic: Public Sewer
  • Water: Public

Financial Features

  • Total Taxes: 3,793.49
  • Total Taxes Payment Freq: Annually
  • City Town Tax: 1,315.26
  • City Town Tax Payment Freq: Annually
  • County Tax: 2,478.24
  • County Tax Payment Freq: Annually
  • Tax Year: 2016
  • Improvement Assessment Amount: 167,300
  • Improvement Assmnt. Payment Freq: Annually
  • Land Assessment Amount: 57,300
  • Land Assessment Payment Freq: Annually
  • Total Assessment: 224,600
  • Total Assessment Payment Freq: Annually
  • Assessment Year: 2016
  • Property Net Operating Income: 70,887
  • Gross Income: 101,000
  • Expenses: 30,213
  • Monthly Gross Rent: 8,425
  • Vacancy Factor: 10
  • Owner Pays: Property Insurance,​Property Management,​Repairs and Maintenance,​Reserves for Replacement,​Taxes-Real Estate,​Utilities,​Advertising/Licenses and Permits
  • One Bedroom Avg Rent: 800
  • Two Bedroom Avg Rent: 975
  • Three Bedroom Avg Rent: 1,700
  • Efficiency Avg Rent: 725

Community Features

Misc Features

  • Auction: N
  • Foreclosure: N
  • Potential Short Sale: No
  • Tenancy: 1 Year Lease(s)
  • New Construction: N
  • Year Renovated: 2014
  • Zoning Code: C1


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The listing information for 124 Main Street, Elkton, MD 21921 was graciously provided by our friends at the listing brokerage, Milestone Commercial Realty

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P&I Payment $2387.08
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Last Updated 12/16/2017 at 9:32pm
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