Certified Two-Unit
For Sale
$330,000
231 NEWTON ST, Salisbury, MD 21801
Two separate duplex units offer independent living with kitchens and multiple bedrooms.
Property Size1,736 SF
Price / SF$190.09
Days on Market74
Property Features for 231 NEWTON ST
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Multi-family
Listing Agency:
EXP Realty, LLC
(888) 860-7369
Listed By:
Ross Muir
(443) 944-3638
Source:
Hostetterrealty
Added: Jul 26
Changed: Sep 23
Last Checked: Oct 5 at 6:40PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
This certified duplex includes two separate residential units. The first-floor unit features two bedrooms, one full bathroom, a spacious living room, and a full kitchen. The second-floor unit offers three bedrooms, one full bathroom, a living room, and a full kitchen, with its own private entrance via the rear staircase.
The property is located in the Historic District of Salisbury. It is described as less than five minutes from Tidal Health and just minutes from shopping, grocery stores, restaurants, and downtown Salisbury amenities.
As configured, the building provides two complete living spaces within a duplex layout, supporting flexible owner or tenant occupancy arrangements.
The property is located in the Historic District of Salisbury. It is described as less than five minutes from Tidal Health and just minutes from shopping, grocery stores, restaurants, and downtown Salisbury amenities.
As configured, the building provides two complete living spaces within a duplex layout, supporting flexible owner or tenant occupancy arrangements.
Key Highlights
- Certified duplex in Salisbury Historic District, built in 1900
- First‑floor unit: 2 bedrooms, 1 full bathroom, spacious living room, full kitchen
- Second‑floor unit: 3 bedrooms, 1 full bathroom, living room, full kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,165
Cap Rate
6.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,300
$443.3K
Cap Rate 7%
$316,643
$316.6K
Cap Rate 9%
$246,278
$246.3K
Market Conditions
NOI Build-Up for 1,736 SF
Gross rent
$32.9K $18.96/SF
− Vacancy
−$1.3K −$0.72/SF
EGI
$31.7K $18.24/SF
− OpEx
−$9.5K −$5.47/SF
NOI
$22.2K $12.77/SF
Area
Wicomico County, MD
Vacancy
3.80%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$443,300
Cap Rate 7%
$316,643
Cap Rate 9%
$246,278
Alternative Uses
Best Use
Multifamily LT 5
$316.6K
$277.1K – $369.4K
NOI $22,165 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$292.3K
$255.7K – $341.0K
NOI $20,459 @ 7.0% cap · market cap 6.20%
Theoretical Best
Office A
$607.3K
$531.4K – $708.5K
NOI $42,509 @ 7.0% cap · market cap 12.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 21801, MD
31,183
Population
12,140
Households
2.6
Avg Household Size
37
Median Age
34%
College-Educated
87%
High-School Grad
40.1 sq mi
ZIP Area
778
Density / Sq Mi
$67,140
Median Household Income
$36,290
Median Earnings
$1,058
Median Rent
$286,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate duplex units offer independent living with kitchens and multiple bedrooms.
Where is this duplex located?
The property is located at 231 NEWTON ST Salisbury, MD.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Certified duplex in Salisbury Historic District, built in 1900; First‑floor unit: 2 bedrooms, 1 full bathroom, spacious living room, full kitchen; Second‑floor unit: 3 bedrooms, 1 full bathroom, living room, full kitchen
