Updated Two-Unit Residential
145 West High Street Elkton, MD 21921
145 West High Street, Elkton, MD, 21921
$250,000
For Sale
$250,000
Updated duplex in city limits featuring a leased 3-bedroom unit and a vacant 1-bedroom unit.
Property Size2,016 SF
Price / SF$124.01
Days on Market99
Property Features for 145 West High Street
General Information
- Standard status
- Active
- Size
- 2,016 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1935
Listing agency
Alberti Realty, LLC
(410) 652-2848
Listed by
Joseph Warren Avampato · License #5002497
(410) 652-2848
Source
Compass
Added: Apr 16 Updated: Jul 22 at 4:18PM Checked: Jul 22 at 4:18PM
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
Investment Insights
Based on property information with market context.
This updated two-unit residential income property includes Unit A, a 3-bedroom with 1.5 baths, currently occupied by tenants on an early-stage lease. Unit B is a 1-bedroom with 1 bath and is currently vacant.
The property is located in downtown Elkton and is within city limits. It falls under Cecil County Public Schools.
The configuration provides separate unit layouts within a duplex format, offering a straightforward two-tenant structure with one unit already in place and the second ready for immediate occupancy.
The property is located in downtown Elkton and is within city limits. It falls under Cecil County Public Schools.
The configuration provides separate unit layouts within a duplex format, offering a straightforward two-tenant structure with one unit already in place and the second ready for immediate occupancy.
Key Highlights
- Updated 2‑unit duplex in downtown Elkton within city limits
- Unit A: 3‑bedroom, 1.5‑bath; leased for $1,450
- Unit B: 1‑bedroom, 1‑bath; currently vacant and ready for occupancy
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.0k | $15.36 |
| − Vacancy | −$2.3k | −$1.15 |
| EGI | $28.6k | $14.21 |
| − OpEx | −$8.6k | −$4.26 |
| NOI | $20.1k | $9.95 |
2,016 SF · lease $15.36/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$286.4K
$250.6K – $334.2K
NOI $20,050 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$252.4K
$220.8K – $294.4K
NOI $17,666 @ 7.0% cap · market cap 7.07%
Theoretical Best
Office A
$747.6K
$654.2K – $872.3K
NOI $52,335 @ 7.0% cap · market cap 20.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Birchwood at Elkton
Apartment Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Updated duplex in city limits featuring a leased 3-bedroom unit and a vacant 1-bedroom unit.
Where is this duplex located?
The property is located at 145 West High Street Elkton, MD.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: Updated 2‑unit duplex in downtown Elkton within city limits; Unit A: 3‑bedroom, 1.5‑bath; leased for $1,450; Unit B: 1‑bedroom, 1‑bath; currently vacant and ready for occupancy
