Two-Bedroom Residential Income
For Sale
$219,900
1112 S SCHUMAKER DR #205, Salisbury, MD 21804
SALISBURY, MD
Property Size1,280 SF
Price / SF$171.80
Days on Market54
Property Features for 1112 S SCHUMAKER DR #205
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 2
Subdivision
MALLARD LANDING
Elementary school district
WICOMICO COUNTY PUBLIC SCHOOLS
Middle school district
WICOMICO COUNTY PUBLIC SCHOOLS
High school district
WICOMICO COUNTY PUBLIC SCHOOLS
Standard status
Active
Amenities
balcony
walking path
landscaped lawn and garden area
Building Details
Year built
2006
Listing Agency:
Salisbury
(410) 546-3211
Listed By:
Donna Malone
Added: Aug 28
Changed: Sep 12
Last Checked: Oct 20 at 9:06AM
MLS# MDWC2024396
Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 1,280-square-foot residence in the Grandview community at Mallard Landing was built in 2006 and offers two bedrooms and two baths. Luxury vinyl plank flooring extends through the home, while the open-concept living area provides a connected setting for daily living and entertaining. A private balcony overlooks a walking path and landscaped lawn and garden areas.
Located at 1112 S Schumaker Dr, Unit 205, in Salisbury, Maryland, the property is part of the Mallard Landing Community. The residence is exempt from purchasing the activity and meal plan, providing a defined ownership arrangement within the community.
Located at 1112 S Schumaker Dr, Unit 205, in Salisbury, Maryland, the property is part of the Mallard Landing Community. The residence is exempt from purchasing the activity and meal plan, providing a defined ownership arrangement within the community.
Key Highlights
- 1,280‑square‑foot residence with two bedrooms and two baths
- Built in 2006 within the Grandview community at Mallard Landing
- Luxury vinyl plank flooring throughout the residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,085
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,700
$301.7K
Cap Rate 7%
$215,500
$215.5K
Cap Rate 9%
$167,611
$167.6K
Market Conditions
NOI Build-Up for 1,280 SF
Gross rent
$28.6K $22.32/SF
− Vacancy
−$1.1K −$0.89/SF
EGI
$27.4K $21.43/SF
− OpEx
−$12.3K −$9.64/SF
NOI
$15.1K $11.78/SF
Area
Wicomico County, MD
Vacancy
4.00%
Lease Rate
$22.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$301,700
Cap Rate 7%
$215,500
Cap Rate 9%
$167,611
Alternative Uses
Best Use
Apartment 5plus
$215.5K
$188.6K – $251.4K
NOI $15,085 @ 7.0% cap · market cap 6.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$447.8K
$391.8K – $522.4K
NOI $31,343 @ 7.0% cap · market cap 14.25%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
44
Businesses Nearby
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Business Placement
Demographics for 21804, MD
40,049
Population
16,736
Households
2.4
Avg Household Size
37
Median Age
28%
College-Educated
89%
High-School Grad
68.6 sq mi
ZIP Area
584
Density / Sq Mi
$68,882
Median Household Income
$35,902
Median Earnings
$1,343
Median Rent
$230,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Open-concept residence with luxury vinyl plank flooring and a balcony overlooking landscaped grounds.
Where is this residential income property located?
The property is located at 1112 S SCHUMAKER DR #205 Salisbury, MD.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: 1,280‑square‑foot residence with two bedrooms and two baths; Built in 2006 within the Grandview community at Mallard Landing; Luxury vinyl plank flooring throughout the residence
