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    8 Cherry Ln Perryville, MD 21903

    Sponsored
    For Sale
    $499,000

    MULTI_FAMILY - Cottage - PERRYVILLE, MD

    Property size:
    3,480 SF
    Lot size:
    0.17 Acres
    Days on Market:
    5
    Last Refresh:
    Jan 24 at 7:06 pm

    Property Features for 8 Cherry Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Parking features
    Off Street
    Size
    3,480 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Other (Heating), Heat Pump (Heating)

    Building Details

    Year built
    2005
    Number of units
    2
    Building materials
    Vinyl Siding
    Architectural style
    Cottage

    We can help!

    Listing Contact
    Brenda L Jolly
    Brenda L Jolly

    Integrity Real Estate (410) 658-3100

    Listing agent Brenda L Jolly (410) 287-8080 License #613650

    Listing date Jan 20, 2026

    MLS# MDCC2020194 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Water-Community Retreat with Rental Potential

    Located in the Carpenter's Point water community in Perryville, Maryland, this property offers waterviews of the North East River and over 3,000 square feet of living space. The upper living level features glass sliders that open to a 26' x 19' deck. The open-concept kitchen, dining, and living areas include a large kitchen island. There are two bedrooms and a full bath with a soaking tub and oversized shower. A spiral staircase leads to a loft overlooking the main living area. The main level offers a family room area with sliders to the backyard, a bedroom, full bath, and kitchenette. A pellet stove is included. The property also features a front cottage with its own sunroom, living room, kitchen, bedroom, and full bath. The cottage can be reconnected to the main home to expand the primary main floor plan. A new roof was installed in 2023, and a new water heater was installed recently. The property has access to private community boat ramps with mooring rights. The lot size is 0.17 acres. Nearby are Hollywood Casino, Great Wolf Lodge, and the local water communities of Port Deposit, Charlestown, and North East. The cottage is on the main level and would make a perfect in-law suite, guest house, or income-producing rental.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Building Supply Auto Repair Shop Wholesale Shop Kitchen & Bath Electrical Service Home Appliance Store Plumbing Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Perryville
    County
    Cecil
    State
    Maryland
    Longitude
    -76.00682
    Latitude
    39.54549

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    FAQs

    What type of property is this?
    Multifamily property - Charming property with waterviews, versatile living space, and income potential.
    Where is this multifamily property located?
    The property is located at 8 Cherry Ln Perryville, MD.
    What is the asking price?
    The asking price for this property is $499,000.
    What are key features of this property?
    This property features: - Breathtaking waterviews of the North East River in Carpenter's Point.; - Versatile living space with over 3,000 sq ft, ideal for multi-generational living, plus a separate cottage.; - Cottage is perfect as an in-law suite, guest house, or rental.
    (410) 905-4838
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    8 Cherry Ln Perryville, MD 21903
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    8 Cherry Ln Perryville, MD 21903
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    We can help!
    Listing Contact
    Brenda L Jolly
    Brenda L Jolly
    Real Estate License ID: 613650
    (410) 905-4838
    Learn more
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