702 2nd St, Pocomoke City, MD

Others for Sale - $54,000 - 2,412 Sq. Ft. on 0.11 acres

Agent Info

Donna Harrington

Property Info

  702 2nd St
  Pocomoke City MD 21851
UpdatedMarch 21st, 2018
Building2,412 Sq. Ft.
Land0.11 acres


Property Description

Well established rental property with proven track record. Property is LEAD CERTIFIED and has tenant lease in place. Average vacancy rate of 5.7% with annual gross income of $10,800 with room for rental increase to $925/mo. New heat pumps installed in 2012. Best news is this property is being offered at a 11.7% CAP rate (after all expenses including debt load) - well beyond the average 8-10% CAP rates you see offered with most rental packages. Serious seller has total of 21 properties for sale. Contact listing agent for more information.

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