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    HAGERSTOWN Multi-Family Investment Opportunity Title is generated by Realmo AI

    813-815 W WASHINGTON, Hagerstown, MD 21740

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    For Sale
    $375,000

    Twin/Semi-Detached, Multi-Family - HAGERSTOWN, MD

    Type:Multi Family
    Property size:
    3,010 SF
    Lot size:
    0.20 Acres
    Price / SF:
    $124/SF
    Added:
    Mar 20, 2026
    Days on Market:
    58
    Last Refresh:
    May 16 at 8:06 pm

    Property Features for 813-815 W WASHINGTON

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Parking features
    Off Street, On Street
    Interior features
    Attic, Bathroom - Tub Shower, Carpet, Dining Area
    Exterior features
    Sidewalks
    Appliances
    Refrigerator
    Standard status
    Active
    Size
    3,010 SF
    Lot size
    0.20 Acres

    Taxes and HOA fees

    Tax Annual Amount
    2962

    Utilities

    Heating system
    Forced Air
    Cooling system
    Multi Units, Window Unit(s)

    Building Details

    Year built
    1906
    Flooring type
    Carpet, Laminate, Vinyl
    Building materials
    Vinyl Siding
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Sheila N Mangum

    Listing agent Sheila N Mangum

    Listing office Hagerstown 19833 Leitersburg Pike, MD

    Listing date Mar 20, 2026

    MLS# MDWA2035022 Listing URL

    Copyright © 2026 Long & Foster Real Estate. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High Rental Potential: Designed to maximize rental income.
    • Ample Off‑Street Parking: Features parking for up to four vehicles.
    • Low‑Maintenance Exterior: Vinyl siding and essential appliances minimize upkeep.
    • Spacious and Well‑Maintained: 3,010 sq ft with a dining area, attic, and varied flooring.
    • Energy‑Efficient Windows: Double‑pane vinyl windows enhance energy efficiency.
    • Outdoor Living Spaces: Includes patios, balconies, porches, and a semi‑private rear yard.

    Overview

    This twin/semi-detached home offers 3,010 square feet of finished living space, designed to maximize rental potential. The interior features a combination of laminate plank, carpet, and vinyl flooring. A spacious dining area complements the layout, and the attic provides additional storage space. Bathrooms include tub-shower combinations. Vinyl, double-pane windows enhance energy efficiency and natural light. The exterior features low-maintenance vinyl siding, patios, balconies, and porches. Sidewalks enhance neighborhood walkability. The level rear yard offers a semi-private outdoor retreat. Essential appliances, including a refrigerator, stove, built-in microwave, and dishwasher, are included. Situated on a 0.2-acre lot, the property provides off-street parking for up to four vehicles. The paved parking area adds convenience. The level lot is easy to maintain. It presents an excellent opportunity for investors looking to capitalize on the rental market. The property offers a comfortable living environment and the promise of strong returns. This property is located in HAGERSTOWN, MD.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $350.8K
    NOI $31,573 @ 9.00% cap · cautious / downside scenario
    Moderate
    $451.0K
    NOI $31,573 @ 7.00% cap · market / base-case scenario
    Aggressive
    $631.5K
    NOI $31,573 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $48.8k $16.20
    − Vacancy −$3.7k −$1.22
    EGI $45.1k $14.99
    − OpEx −$13.5k −$4.50
    NOI $31.6k $10.49
    3,010 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $451.0K
    $394.7K – $526.2K (±1% cap)
    NOI $31,573 @ 7.0% cap · market cap 8.42%
    Second Best
    Apartment 5plus
    $404.7K
    $354.1K – $472.1K (±1% cap)
    NOI $28,328 @ 7.0% cap · market cap 7.55%
    Theoretical Best
    Office A
    $667.7K
    $584.2K – $779.0K (±1% cap)
    NOI $46,738 @ 7.0% cap · market cap 12.46%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hagerstown
    County
    Washington
    State
    Maryland
    Longitude
    -77.7351894
    Latitude
    39.6468917

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    FAQs

    What type of property is this?
    Duplex - Well-maintained duplex with strong rental income potential.
    Where is this duplex located?
    The property is located at 813-815 W WASHINGTON Hagerstown, MD.
    What is the asking price?
    The asking price for this property is $375,000.
    What are key features of this property?
    This property features: High Rental Potential: Designed to maximize rental income.; Ample Off‑Street Parking: Features parking for up to four vehicles.; Low‑Maintenance Exterior: Vinyl siding and essential appliances minimize upkeep.
    (888) 536-0216
    We can help!
    Listing Contact
    Sheila N Mangum
    Real Estate License ID: RSR001418
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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