HAGERSTOWN Multifamily Investment
141 S MULBERRY Street Hagerstown, MD 21740
141 S MULBERRY Street, Hagerstown, MD, 21740
$224,995
For Sale
$224,995
MULTI_FAMILY - Other - HAGERSTOWN, MD
Property Size2,112 SF
Lot Size0.07 Acres
Price / SF$106.53
Days on Market155
Property Features for 141 S MULBERRY Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Parking Lot
- Standard status
- Active
- Size
- 2,112 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3033
Utilities
- Heating system
- Electric (Heating), Baseboard, Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1908
- Number of units
- 1
- Building materials
- Brick
- Architectural style
- Other
Listing agency
Keller Williams Realty Advantage
(304) 901-4886
Listed by
Megan E Icenhour · License #5022553
(304) 671-2881
Added: Feb 18 Updated: Jul 13 at 11:24AM Checked: Jul 23 at 6:06AM
MLS# MDWA2034320
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is an investor opportunity with immediate income and upside potential. The fully occupied duplex currently generates $2,253 per month in rental income, with utility reimbursement averaging approximately $350 per month to help offset operating expenses. Tenants are responsible for utilities. The property offers 2,112 finished square feet on a 0.07 acre lot in an area with consistent rental demand and convenient access to shopping, dining, commuter routes, and downtown Hagerstown amenities. This presents a strong opportunity for investors seeking an income producing multifamily property with long term potential. The property is located in HAGERSTOWN, MD.
Key Highlights
- Fully occupied duplex generating $2,253/month in rental income (utility reimbursement averages about $350/month); tenants are responsible for utilities.
- 2,112 finished SF duplex on a 0.07‑acre lot.
- Brick construction with electric and forced‑air heating plus baseboard heating.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.8k | $18.36 |
| − Vacancy | −$2.6k | −$1.25 |
| EGI | $36.1k | $17.11 |
| − OpEx | −$16.3k | −$7.70 |
| NOI | $19.9k | $9.41 |
2,112 SF · lease $18.36/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$316.5K
$276.9K – $369.2K
NOI $22,154 @ 7.0% cap · market cap 9.85%
Second Best
Apartment 5plus
$284.0K
$248.5K – $331.3K
NOI $19,877 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$468.5K
$409.9K – $546.6K
NOI $32,794 @ 7.0% cap · market cap 14.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Fully occupied duplex generating income with upside potential in Hagerstown.
Where is this duplex located?
The property is located at 141 S MULBERRY Street Hagerstown, MD.
What is the asking price?
The asking price for this property is $224,995.
What are key features of this property?
This property features: Fully occupied duplex generating $2,253/month in rental income (utility reimbursement averages about $350/month); tenants are responsible for utilities.; 2,112 finished SF duplex on a 0.07‑acre lot.; Brick construction with electric and forced‑air heating plus baseboard heating.
