509 LOBLOLLY LANE
About This Property
Inside, you'll find hardwood flooring, vinyl replacement windows, and an open-concept layout designed for everyday living and entertaining. A separate side entrance and additional living area offer flexibility for a home office, guest suite, or potential in-law accommodations.
Step outside to enjoy the spacious backyard, ideal for outdoor gatherings, summer barbecues, and recreation. The fenced rear yard provides privacy and security, while the detached garage features electric service and a concrete floor, offering excellent storage, workshop, or hobby space.
Located within Salisbury's Urban Services District, homeowners enjoy access to many City of Salisbury municipal services without being subject to city property taxes. The property's central location places you just minutes from Salisbury University, TidalHealth Peninsula Regional Medical Center, shopping, dining, entertainment, parks, and recreation.
Conveniently situated approximately 1 minute from Salisbury University, 5 minutes from TidalHealth, 8 minutes from the Salisbury Zoo and City Park, 12 minutes from Salisbury's North Salisbury shopping corridor, 19 minutes from tax-free Delaware shopping, 45 minutes from historic downtown Berlin, and less than an hour from both Ocean City's beaches and boardwalk as well as Assateague Island National Seashore.
Whether you're searching for your first home, downsizing, or simply looking for a property close to everything the Eastern Shore has to offer, this home presents an outstanding opportunity
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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.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Sep 15, 2026 | Price Decreased |
$299,999
↓ $5K
(1.6%) | |
| Price Decreased | |||
| Jul 7, 2026 | Price Decreased |
$304,999
↓ $10K
(3.2%) | |
| Price Decreased | |||
| Jun 23, 2026 | Listed by EXP Realty, LLC | $314,999 | |
| Listed by EXP Realty, LLC | |||
| Dec 22, 2025 | Sold | ||
| Sold | |||
| Nov 1, 2025 | In contract | - | |
| In contract | |||
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Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017