106 PHYLLIS COURT, Grasonville, MD 21638

Building Details

Building Size 1,136 SF More

Year Built 1976 More

Listing Agency: Alberti Realty, LLC

Listed By: Joseph Warren Avampato · License #5002497 Show Phone

Source: Chesapeakebayproperties

Added: Jun 29 Changed: Nov 9 Last Checked: Nov 8 at 2:50PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alberti Realty, LLC

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Investment Insights

Based on property information with market context.

Built in 1976, this 1,136-square-foot duplex has two residences: a three-bedroom, two-bathroom house and a two-bedroom, one-bathroom apartment on the second floor above a garage. Both units are tenant occupied on month-to-month arrangements. Tenants pay their own utilities.

Key Highlights

• Two residences: a 3‑bedroom, 2‑bathroom house and a 2‑bedroom, 1‑bathroom apartment
• Second‑floor apartment located above a garage
• 1,136 square feet; built in 1976

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,773

Cap Rate

4.92%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$295,460 $295.5K

Cap Rate 7%

$211,043 $211.0K

Cap Rate 9%

$164,144 $164.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,136 SF

Gross rent

$22.5K $19.80/SF

− Vacancy

−$1.4K −$1.22/SF

EGI

$21.1K $18.58/SF

− OpEx

−$6.3K −$5.57/SF

NOI

$14.8K $13.00/SF

Area

Queen Anne's County, MD

Vacancy

6.17%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$295,460

Cap Rate 7%

$211,043

Cap Rate 9%

$164,144

Alternative Uses

Best Use

Multifamily LT 5

$211.0K

$184.7K – $246.2K (±1% cap)

NOI $14,773 @ 7.0% cap · market cap 4.92%

Second Best

Apartment 5plus

$192.8K

$168.7K – $225.0K (±1% cap)

NOI $13,498 @ 7.0% cap · market cap 4.50%

Theoretical Best

Office A

$308.9K

$270.3K – $360.3K (±1% cap)

NOI $21,620 @ 7.0% cap · market cap 7.21%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

149

Businesses Nearby

Explore this area Business Placement

Demographics for 21638, MD

5,058

Population

2,219

Households

2.3

Avg Household Size

44

Median Age

43%

College-Educated

93%

High-School Grad

9.9 sq mi

ZIP Area

511

Density / Sq Mi

$130,804

Median Household Income

$60,981

Median Earnings

$1,630

Median Rent

$491,000

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Frequently Asked Questions

What type of property is this?

Duplex - The occupied property combines a three-bedroom house with a second-floor apartment above a garage.

Where is this duplex located?

The property is located at 106 PHYLLIS COURT Grasonville, MD.

What is the asking price?

The asking price for this property is $299,999.

What are key features of this property?

This property features: Two residences: a 3‑bedroom, 2‑bathroom house and a 2‑bedroom, 1‑bathroom apartment; Second‑floor apartment located above a garage; 1,136 square feet; built in 1976