Duplex with Separate
New
For Sale
$399,900
7420 RICHARDSON Street, Willards, MD 21874
Multi-Family, WILLARDS, MD
Property Size2,457 SF
Lot Size0.58 Acres
Price / SF$162.76
Days on Market1
Property Features for 7420 RICHARDSON Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
Driveway
Interior features
Carpet, Combination Kitchen/Living, Floor Plan - Traditional
Appliances
Built-In Range, Dryer, Refrigerator, Washer, WaterHeater
Subdivision
NONE AVAILABLE
Elementary school
PITTSVILLE
Elementary school district
WICOMICO COUNTY PUBLIC SCHOOLS
Middle school district
WICOMICO COUNTY PUBLIC SCHOOLS
High school district
WICOMICO COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,457 SF
Lot size
0.58 Acres
Taxes and HOA fees
Tax Annual Amount
2290
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Heat Pump, Central Air
Building Details
Year built
1919
Number of units
2
Building materials
Block, Concrete, Frame, Stick Built, Vinyl Siding
Architectural style
Other
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices PenFed Realty - OP
(410) 208-3500
Listed By:
Sandra L Dougan · License #597620
(410) 726-6557
Added: Oct 25
Last Checked: Oct 25 at 11:06PM
MLS# MDWC2025222
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 two-level duplex contains 2,457 square feet of finished space on a 0.58-acre lot. Each floor has three bedrooms, one bathroom, and a combined kitchen and living area, with its own entrance. Built in 1919, the property underwent extensive renovation in 2019; updates in 2026 included a new kitchen, siding, gutters, and decking. Heating and cooling are provided by a heat pump, with central air also listed. The driveway accommodates up to four vehicles, and there is no HOA.
The property is less than 10 miles from the airport, about 15 minutes from Ocean City and Assateague Beaches, and about 10 minutes from Berlin. An elementary school is nearby.
The property is less than 10 miles from the airport, about 15 minutes from Ocean City and Assateague Beaches, and about 10 minutes from Berlin. An elementary school is nearby.
Key Highlights
- Two separate living levels, each with 3 bedrooms and 1 bathroom
- 2,457 square feet of finished space on a 0.58‑acre lot
- Separate entrance and combination kitchen/living area on each floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,370
Cap Rate
7.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$627,400
$627.4K
Cap Rate 7%
$448,143
$448.1K
Cap Rate 9%
$348,556
$348.6K
Market Conditions
NOI Build-Up for 2,457 SF
Gross rent
$46.6K $18.96/SF
− Vacancy
−$1.8K −$0.72/SF
EGI
$44.8K $18.24/SF
− OpEx
−$13.4K −$5.47/SF
NOI
$31.4K $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%
$627,400
Cap Rate 7%
$448,143
Cap Rate 9%
$348,556
Alternative Uses
Best Use
Multifamily LT 5
$448.1K
$392.1K – $522.8K
NOI $31,370 @ 7.0% cap · market cap 7.84%
Second Best
Apartment 5plus
$413.7K
$362.0K – $482.6K
NOI $28,956 @ 7.0% cap · market cap 7.24%
Theoretical Best
Office A
$859.5K
$752.0K – $1.00M
NOI $60,163 @ 7.0% cap · market cap 15.04%
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
67
Businesses Nearby
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Business Placement
Demographics for 21874, MD
2,240
Population
768
Households
2.9
Avg Household Size
42
Median Age
19%
College-Educated
86%
High-School Grad
28.3 sq mi
ZIP Area
79
Density / Sq Mi
$74,545
Median Household Income
$39,318
Median Earnings
$1,480
Median Rent
$219,500
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 - Each level has a separate entrance and a three-bedroom, one-bath layout.
Where is this duplex located?
The property is located at 7420 RICHARDSON Street Willards, MD.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two separate living levels, each with 3 bedrooms and 1 bathroom; 2,457 square feet of finished space on a 0.58‑acre lot; Separate entrance and combination kitchen/living area on each floor
