18-20 Water St, Thurmont, MD 21788

Description

A rare investment opportunity in Thurmont with multiple income streams and strong rental potential. This property includes two separate homes on one parcel plus eight garage spaces that can be rented individually. Once updated and made fully rentable, the combined rental potential is approximately $4,000 per month (about $48,000 per year). Based on projected rents and the new list price, the gross cap rate is estimated at over 11% Estimated rents: one-bedroom home at $1,400, three-bedroom home at $1,800, and eight garages at $100 each. Live in one home and rent out the other, or lease both properties and the garages for steady income. The property will require updates and...