Property profile

8340 Langmaid Rd Newark, MD 21841

OFF-MARKET
Distribution properties
Property ID
US40-0337118
1,576 SF 0.74 ac lot Built 1986
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 4,736 square foot multi-family property, situated on a 0.74-acre lot at 8340 Langmaid Road in Newark, Maryland, presents a unique investment opportunity. The building has undergone a complete renovation, transforming it into a highly desirable rental property with significant upside potential. Each of the four units boasts two bedrooms and one bathroom, complemented by a private garage. The extensive renovation included the installation of brand new granite countertops and stainless steel appliances in every kitchen. Modern upgrades extend throughout, encompassing all new flooring, electrical systems, heating and air conditioning, roofing, siding, and garage doors. The property's proximity to the beach offers tenants a desirable coastal lifestyle, while its slightly removed location ensures a peaceful, serene environment. The flexible design allows for continued operation as a four-unit apartment building, or the property could be easily converted into individual condominiums, catering to a diverse range of buyers and renters. The high-quality renovations and prime location make this a strong investment prospect with excellent potential for long-term rental income or condominium sales. The property is priced at $785,000 and offers a compelling return on investment. This is a rare opportunity to acquire a turnkey, fully renovated multi-family property in a highly sought-after location.

Property profile

Verified
Property type Distribution properties
Use group COM AUTO TRANS/STORAGE
Year built 1986
Construction BRICK
Total area 1,576 SF
Lot 0.74 ac (32,234 SF)
Zoning code V-1
APN 04-004167
UPID US40-0337118

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

8340 Langmaid Rd Newark, MD 21841-2114
Newark metro Census 951200 SALISBURY, MD-DE METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$355k

Owner & transaction history

since 2021
Last sale
$320,000
4 recorded transactions
2021
$320,000
2017
$300,000
2009
$219,200
2006
Price N/A

Zoning & alternative use

V-1 · Newark, MD

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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