77 Mimosa Lane Elkton, MD $ 1,596,000
77 Mimosa Lane
$ 1,596,000
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77 Mimosa Lane

Elkton, MD, 21921
$ 1,596,000
Bedrooms9 Baths0.0

Monthly Estimate*

$ 10,608

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Multi-Family Home for sale in Elkton, MD

for $1,596,000 with 9 bedrooms. This home was built in 1978 on a lot size of 31.71.

Discover this exceptional opportunity to own a sprawling property in Elkton, Maryland, featuring not just one, but three ranch homes set on over 31 acres of picturesque land. This remarkable estate offers both vast open spaces and wooded areas, presenting a blend of rural charm and potential for subdivision. With the possibility of creating up to 7 individual lots (subject to Cecil County approval), this property is brimming with potential. In addition to subdivision opportunities, this estate offers various revenue-generating possibilities, including solar farming, leasing land for agriculture, and expanding an existing rental portfolio. Approximately 25 tillable acres are available for agricultural ventures, while the option to sell one home and its parcel separately also adds to the investment appeal. The estate features three single-family ranch homes. Previously utilized as rental properties, these homes are being sold 'as-is'. 1. 3-bedroom, 2-bathroom home with a basement 2. 3-bedroom, 2-bathroom home 3. 3-bedroom, 1-bathroom home At the heart of the estate is a tranquil pond, adding to the natural beauty and serenity of the area. Conveniently located with easy access to I-95, the property ensures effortless commutes. It's just a 30-minute drive to Wilmington and less than an hour from both Philadelphia and Baltimore. Whether you're seeking an investment opportunity, a vast expanse of land for outdoor activities, starting a farm, or building your dream home, this Elkton property is a perfect fit. Embrace the tranquility of nature and explore the potential for growth with this unique offering, now awaiting its new owner.

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Multi-Family Active

Price

$ 1,596,000

Bedrooms

9

Property Type

Multi-Family

Taxes

$ 6,597

Style

Ranch/Rambler

Lot Size

31.71

Year Built

1978

Town/City

Elkton

County/Region

Cecil

MLS | Web ID

MDCC2012014

Features
Interior
Heating Fuel Electric
Basement Other
Total Fireplaces 1
Hot Water Electric
Furnished Units None
Basement (Y/N) Y
Heating Y/N Y
Fireplace Y/N Y
Central Air Y/N N
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General
Sewer On Site Septic
Heating Baseboard - Electric
Cooling None
Possession 0-30 Days CD Immediate Negotiable 31-60 Days CD
Zoning NAR
Garage Spaces 1.00
Architectural Style Ranch/Rambler
Construction Materials Brick
School District CECIL COUNTY PUBLIC SCHOOLS
Year Built 1978
View Pond Pasture Scenic Vista Trees/Woods Water
Property SubType Other
Tax Year 2024
Percent Ownership Fee Simple
Cool Fuel Electric
Accessibility Doors - Swing In
County CECIL
New Construction N
Property Type Multi-Family
Subdivision Name NONE AVAILABLE
Garage Y/N Y
Water Access Y/N Y
Other Structures Above Grade Below Grade
Status ACTIVE
Directions south on Union Church Road then right on Tonys Road the property is on your left (77 Mimosa Lane)
City ELKTON
Buyer Agent Compensation 2.5
NumberOfUnitsTotal 3
Lot Size Units Square Feet
Lot Size Square Feet 1381288.00
Waterfront Y/N N
Tax Annual Amount 6597.0
Home Warranty Y/N N
Two Bedroom 0
Structure Type Detached
Price Per Sq Ft Total AG 532.0
Acceptable Financing Cash Conventional
Vacation Rental Y/N N
Virtual Tour https://www.youtube.com/watch?v=z5wmPajmYNE
Days on Market 115
Location Type Rural
Standard Status Active
Year Built Source Assessor
Buyer Agent Compensation Type % Of Gross
Association Recreation Fee N
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Exterior
Pool No Pool
Water Source Well
Inclusions 3 single family ranch homes on property in as-is condition.
Garage Features Other
Type of Parking Attached Garage Driveway
Foundation Details Other
Spa N
Water View Y/N Y
Lot Size Acres 31.71
Water Body Type Pond
Lot Size Source Assessor
Land Assessed Value 248300.00
Water Oriented Y/N Y
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Internal Only
Street Number 1 77
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* Excluded Features
List By
Keller Williams Realty Wilmington

Broker

mike@theterranovateam.com

Email

Affordability Calculator

$11,157
Per Month
95%
5%
0%
Monthly Principal & Interest
$10,608
Monthly Property Taxes
$550
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.99% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
THE TIME TO SELL IS NOW!
Nearby
3534404 Elementary School
3535079 Middle School
North East High School High School
Pricing History
DatePricePrice ChangeDescription
6/7/2024$1,596,000 -0.06% Price Down
3/21/2024$1,597,000 -6.06% Price Down
2/28/2024$1,700,000 Listed Price

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77 Mimosa Lane, Elkton, MD, 21921 is a Multi-Family Home for sale at $1,596,000 with a lot size of 31.71. 77 Mimosa Lane has 9 bedrooms, 0.0 baths, and was built in 1978. The property's zip code is 21921 which is in Elkton, MD