Renovated Duplex with Separate
New
For Sale
$299,900
235 NORTH BOULEVARD, Salisbury, MD 21801
Two independent residences offer flexible occupancy, with updated finishes and a new kitchen in the lower unit.
Property Size1,932 SF
Price / SF$155.23
Days on Market4
Property Features for 235 NORTH BOULEVARD
General Information
Standard status
Active
Size
1,932 SF
Property subtype
Apartment
Units
Unit Mix
2BR/1BA, 1BR/1BA
Multifamily Units
2
Amenities
front porch
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Keller Williams Realty Delmarva
(410) 677-0909
Listed By:
Aubrey Campbell · License #5005561
(302) 393-0169
Source:
Cummingsrealtors
Added: Oct 28
Changed: Oct 30
Last Checked: Oct 30 at 2:20PM
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 Keller Williams Realty Delmarva
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Investment Insights
Based on property information with market context.
This 1,932-square-foot duplex contains two separate residences totaling three bedrooms and two full bathrooms. The lower-level unit has two bedrooms and one full bathroom; the upper-level unit has one bedroom and one full bathroom. Recent work includes new flooring, fresh paint, and a new kitchen in the lower unit. A front porch and corner-lot setting are additional property features.
Built in 1900, the property is in Salisbury near Salisbury University, shopping, dining, and everyday amenities.
Built in 1900, the property is in Salisbury near Salisbury University, shopping, dining, and everyday amenities.
Key Highlights
- 1,932‑square‑foot duplex with two separate living units
- Combined layout includes 3 bedrooms and 2 full bathrooms
- Lower unit: 2 bedrooms, 1 full bathroom, new kitchen, flooring, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,667
Cap Rate
8.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$493,340
$493.3K
Cap Rate 7%
$352,386
$352.4K
Cap Rate 9%
$274,078
$274.1K
Market Conditions
NOI Build-Up for 1,932 SF
Gross rent
$36.6K $18.96/SF
− Vacancy
−$1.4K −$0.72/SF
EGI
$35.2K $18.24/SF
− OpEx
−$10.6K −$5.47/SF
NOI
$24.7K $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%
$493,340
Cap Rate 7%
$352,386
Cap Rate 9%
$274,078
Alternative Uses
Best Use
Multifamily LT 5
$352.4K
$308.3K – $411.1K
NOI $24,667 @ 7.0% cap · market cap 8.23%
Second Best
Apartment 5plus
$325.3K
$284.6K – $379.5K
NOI $22,769 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$675.8K
$591.4K – $788.5K
NOI $47,308 @ 7.0% cap · market cap 15.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,055
Businesses Nearby
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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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two independent residences offer flexible occupancy, with updated finishes and a new kitchen in the lower unit.
Where is this duplex located?
The property is located at 235 NORTH BOULEVARD Salisbury, MD.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: 1,932‑square‑foot duplex with two separate living units; Combined layout includes 3 bedrooms and 2 full bathrooms; Lower unit: 2 bedrooms, 1 full bathroom, new kitchen, flooring, and paint
