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    Duplex With Separate Entrances Title is generated by Realmo AI

    723 CLARKE Avenue, Pocomoke City, MD 21851

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    For Sale
    Under Contract
    $165,000

    MULTI_FAMILY - Colonial - POCOMOKE CITY, MD

    Property size:
    2,620 SF
    Lot size:
    0.25 Acres
    Price / SF:
    $62/SF
    Added:
    Mar 6, 2026
    Days on Market:
    90
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 723 CLARKE Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Offsite
    Standard status
    Active Under Contract
    Size
    2,620 SF
    Lot size
    0.25 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3384

    Utilities

    Heating system
    Central
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Number of units
    1
    Building materials
    Vinyl Siding
    Architectural style
    Colonial

    We can help!

    Listing Contact
    Christina Hedgepeth

    Listing agent Christina Hedgepeth License #5014152

    Listing office Spring Hill Real Estate, LLC. 1577 SPRING HILL Road unit: 300B, Vienna, MD

    Listing date Mar 6, 2026

    MLS# MDWO2036758 Listing URL

    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.

    HighLights

    • Two‑unit property with two separate entrances
    • 3 bedrooms and 1 bathroom per unit (total 6 bedrooms, 2 bathrooms)
    • Currently listed $2,300 in rents
    • Pending release
    • Central heating and central air; vinyl siding
    • Built in 1900; Colonial architectural style; offsite parking

    Overview

    This duplex features two separate units, each with a separate entrance. The property includes two 3-bedroom, 1-bathroom layouts, providing consistent unit configuration for residential income use. The listing indicates the units do not need much work to get started.

    The property is located at 723 CLARKE Avenue in Pocomoke City, Maryland, within Worcester County. The lot size is listed at 0.2525 acres, and the total property size is shown as 2,620 square feet. The listing also notes that one unit is expected to be available in July 2026.

    From an operator or owner-occupant perspective, the duplex setup can support a two-stream rental structure with independent access for each unit. The rent is listed at $2,300, and the listing marks the status as “pending release,” with one unit expected to vacate in July 2026. This timing may allow a new owner to review the unit during the vacancy period and prepare it for continued occupancy.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pocomoke City
    County
    Worcester
    State
    Maryland
    Longitude
    -75.57174
    Latitude
    38.07188

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    FAQs

    What type of property is this?
    Duplex - Two-unit duplex offers separate entrances and matching 3 bed/1 bath layouts for straightforward rental use.
    Where is this duplex located?
    The property is located at 723 CLARKE Avenue Pocomoke City, MD.
    What is the asking price?
    The asking price for this property is $165,000.
    What are key features of this property?
    This property features: Two‑unit property with two separate entrances; 3 bedrooms and 1 bathroom per unit (total 6 bedrooms, 2 bathrooms); Currently listed $2,300 in rents
    (202) 239-9664
    We can help!
    Listing Contact
    Christina Hedgepeth
    Real Estate License ID: 5014152
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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