Park-View Duplex with
301 N PARK Drive, Salisbury, MD 21804
For Sale
$749,000
Multi-Family, SALISBURY, MD
Property Size4,638 SF
Lot Size0.21 Acres
Price / SF$161.49
Days on Market9
Property Features for 301 N PARK Drive
General Information
Property type
Property subtype
Rooms
Parking
Parking features
Interior features
Appliances
Subdivision
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Cooling system
Building Details
Year built
Number of units
Building materials
Architectural style
Buildings
Listing Agency:
ERA Martin Associates · ERA Real Estate
(410) 749-1818
Listed By:
Min Kyung Pi · License MD #650960
(443) 944-6887
Added: Nov 6
Changed: Nov 10
Last Checked: Nov 14 at 12:06AM
MLS# MDWC2025408
Copyright © 2026 Bright MLS. 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 4,638-square-foot brick duplex contains two residences with a combined seven bedrooms and five full bathrooms. The lower unit has three bedrooms, one bath, a kitchen, a great room, and a bonus room. The upper residence includes four bedrooms, four baths, a kitchen with breakfast area, formal dining space, living room, and separate sitting room. LVP flooring appears throughout both units. Additional features include an attached oversized two-car garage, a side porch, vaulted ceilings, and a primary suite with a step-in shower and double-sink vanity.
The property occupies a 0.2066-acre corner lot overlooking a city park. Built in 1972, it also includes driveway parking, central air, and ductless cooling.
The property occupies a 0.2066-acre corner lot overlooking a city park. Built in 1972, it also includes driveway parking, central air, and ductless cooling.
Key Highlights
- 4,638‑square‑foot duplex with 7 bedrooms and 5 full bathrooms
- Two residences: lower unit with 3 bedrooms and 1 bath; upper unit with 4 bedrooms and 4 baths
- 0.2066‑acre corner lot overlooking a city park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$59,216
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,184,320
$1.2M
Cap Rate 7%
$845,943
$845.9K
Cap Rate 9%
$657,956
$658.0K
Market Conditions
NOI Build-Up for 4,638 SF
Gross rent
$87.9K $18.96/SF
− Vacancy
−$3.3K −$0.72/SF
EGI
$84.6K $18.24/SF
− OpEx
−$25.4K −$5.47/SF
NOI
$59.2K $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%
$1,184,320
Cap Rate 7%
$845,943
Cap Rate 9%
$657,956
Alternative Uses
Best Use
Multifamily LT 5
$845.9K
$740.2K – $986.9K
NOI $59,216 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$780.8K
$683.2K – $911.0K
NOI $54,659 @ 7.0% cap · market cap 7.30%
Theoretical Best
Office A
$1.62M
$1.42M – $1.89M
NOI $113,569 @ 7.0% cap · market cap 15.16%
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
644
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer a flexible layout, including a larger upper home with a side porch facing the park.
Where is this duplex located?
The property is located at 301 N PARK Drive Salisbury, MD.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: 4,638‑square‑foot duplex with 7 bedrooms and 5 full bathrooms; Two residences: lower unit with 3 bedrooms and 1 bath; upper unit with 4 bedrooms and 4 baths; 0.2066‑acre corner lot overlooking a city park
