Fully Leased Colonial
For Sale
$419,900
836 HAMILTON Boulevard, Hagerstown, MD 21742
Multi-Family, HAGERSTOWN, MD
Property Size1,624 SF
Lot Size0.07 Acres
Price / SF$258.56
Days on Market145
Property Features for 836 HAMILTON Boulevard
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement
Parking features
On Street
Interior features
Attic, Built-Ins, Carpet, Combination Kitchen/Dining, Crown Moldings, Dining Area, Entry Level Bedroom, Floor Plan - Traditional, Kitchen - Eat-In, Kitchen - Table Space, Wood Floors
Appliances
Exhaust Fan, Oven/Range - Electric, Range Hood, Refrigerator
Elementary school
CALL SCHOOL BOARD
Middle school
CALL SCHOOL BOARD
High school
CALL SCHOOL BOARD
Elementary school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Middle school district
WASHINGTON COUNTY PUBLIC SCHOOLS
High school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
1,624 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3380
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s), Central Air
Building Details
Year built
1913
Number of units
3
Building materials
Brick, Stone
Architectural style
Colonial
Listing Agency:
Mackintosh , Inc.
(301) 790-1700
Listed By:
Brian Richards · License #661852
(301) 662-0155
Added: Apr 8
Changed: Aug 28
Last Checked: Aug 30 at 3:06PM
MLS# MDWA2035468
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 Colonial triplex was built in 1913 and offers 1,624 square feet on a 0.073-acre lot. Brick and stone construction is complemented by traditional interior details, including wood floors, crown molding, built-ins, attic space, and an eat-in kitchen arrangement. The property also includes a dining room and basement.
Each unit is separately metered for electricity, while the property has separate gas meters. Heating is provided by forced air, with a combination of central air and window-unit cooling. On-street parking is available, and all units are fully rented.
Each unit is separately metered for electricity, while the property has separate gas meters. Heating is provided by forced air, with a combination of central air and window-unit cooling. On-street parking is available, and all units are fully rented.
Key Highlights
- Triplex with 1,624 square feet of property size
- 0.073‑acre lot with brick and stone construction
- Built in 1913 with Colonial architectural style
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,035
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$340,700
$340.7K
Cap Rate 7%
$243,357
$243.4K
Cap Rate 9%
$189,278
$189.3K
Market Conditions
NOI Build-Up for 1,624 SF
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.
Gross rent
$26.3K $16.20/SF
− Vacancy
−$2.0K −$1.22/SF
EGI
$24.3K $14.99/SF
− OpEx
−$7.3K −$4.50/SF
NOI
$17.0K $10.49/SF
Area
Washington County, MD
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$340,700
Cap Rate 7%
$243,357
Cap Rate 9%
$189,278
Alternative Uses
Best Use
Multifamily LT 5
$243.4K
$212.9K – $283.9K
NOI $17,035 @ 7.0% cap · market cap 4.06%
Second Best
Apartment 5plus
$218.3K
$191.1K – $254.7K
NOI $15,284 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$360.2K
$315.2K – $420.3K
NOI $25,217 @ 7.0% cap · market cap 6.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
631
Businesses Nearby
Explore this area
Business Placement
Demographics for 21742, MD
33,069
Population
14,099
Households
2.3
Avg Household Size
42
Median Age
30%
College-Educated
90%
High-School Grad
46.5 sq mi
ZIP Area
711
Density / Sq Mi
$80,533
Median Household Income
$45,717
Median Earnings
$1,267
Median Rent
$280,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Colonial multifamily property with separate gas service and individual electric meters for each unit.
Where is this triplex located?
The property is located at 836 HAMILTON Boulevard Hagerstown, MD.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Triplex with 1,624 square feet of property size; 0.073‑acre lot with brick and stone construction; Built in 1913 with Colonial architectural style
