$201,000
●
House -
Off Market
31717 MELSON ROAD
DELMAR, MD 21875
2 Beds
1 Bath
806 Ft²
$1,082
Est. Monthly
10.19%
Cap Rate
About This Property
Charming 2-bedroom, 1-bath Bungalow home awaits your personal
touches to bring out its true potential. The home is situated
on a large rural 1+ acre lot. The home also has a second
level with a large bonus space that could be set up for an
additional living space. A new metal roof and a new HVAC
system are just a couple upgrades that have recently been
installed. There is also a large 2-car detached garage with
an office area and extra storage space that could be perfect for
starting a small business or just for personal use. In
addition, there are 2 other outbuildings for your storage
requirements. The home is being sold As-Is. No repairs will
be made. Be sure to schedule your showing today and explore
this home's potential.
Unit Size
806 Ft²
Days on Market
26 days
Land Size
1.09 acres
Price per sqft
$249
Property Type
House
Property Taxes
$95
HOA Dues
-
Year Built
1956
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Cap Rate
100% Occupancy
N/A (extreme outlier) What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Last updated: 2 years ago (Bright MLS #MDWC2017140)
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Jun 27, 2025 | Sold | ||
| Sold | |||
| Jun 3, 2025 | Price Increased |
$201,000
↑ $6K
(3.1%) | |
| Price Increased | |||
| Mar 29, 2025 | In contract | - | |
| In contract | |||
| Mar 17, 2025 | Listed | $195,000 | |
| Listed | |||
| | |||
|
Charming 2-bedroom, 1-bath bungalow home awaits your personal touches to bring out its true potential. The home is situated on a large rural 1+ acre lot. The home also has a second level with a large bonus space that could be set up for an additional living space. A new metal roof and a new HVAC system are just a couple upgrades that have recently been installed. There is also a large 2-car detached garage with an office area and extra storage space that could be perfect for starting a small business or just for personal use. In addition, there are 2 other outbuildings for your storage requirements. The home is being sold As-Is. No repairs will be made. Be sure to schedule your showing today and explore this home's potential.
| |||
| Aug 29, 1989 | Sold | ||
| Sold | |||
Property Highlights
Garage
Building Info
Data used for valuation calculations is provided by RealtyHop, and other third party sources
Comparables
Unit
Status
Status
Type
Beds
Baths
ft²
Price/ft²
Price/ft²
Asking Price
Listed On
Listed On
Closing Price
Sold On
Sold On
HOA + Taxes
About Wicomico
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Listed by: Carl Eric Johnson
ERA Martin Associates
Last Updated: 1 hours ago
Data Source: Bright MLS , MLS# MDWC2017140
The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms, and is provided by BRIGHT through a licensing agreement. Listing information is from various brokers who participate in the Bright MLS IDX program and not all listings may be visible on the site. The property information being provided on or through the website is for the personal, non-commercial use of consumers and such information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Property information displayed is deemed reliable but is not guaranteed. Copyright 2026 Bright MLS, Inc.
ERA Martin Associates
Last Updated: 1 hours ago
Data Source: Bright MLS , MLS# MDWC2017140
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