Multifamily Property with 1BR
New
For Sale
$650,000
100 EAST AVENUE, Hagerstown, MD 21740
Multifamily property currently configured as program housing with private baths, kitchen areas, living spaces, and support areas.
Property Size6,000 SF
Price / SF$108.33
Days on Market4
Property Features for 100 EAST AVENUE
General Information
Standard status
Active
Size
6,000 SF
Property subtype
Commercial
Units
Unit Mix
9 x 1BR/1BA
Multifamily Units
9
Amenities
laundry areas
office space
storage
Building Details
Year Built
1905
Listing Agency:
EXP Realty, LLC
(888) 860-7369
Listed By:
Michael J Schiff · License #596243
(410) 415-1404
Source:
Cummingsrealtors
Added: Sep 11
Changed: Sep 13
Last Checked: Sep 14 at 6:55AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 6,000-square-foot multifamily property was built in 1905 and spans five addresses in Hagerstown. The current configuration supports program housing and includes 9 potential one-bedroom, one-bathroom residential units. Individual spaces feature private bathrooms, kitchens or kitchen areas, living areas, natural light, and a combination of hardwood and tile flooring.
Additional improvements include multiple laundry areas, office space, storage, and infrastructure supporting the existing residential care operation. The property will be delivered vacant at settlement. Its existing layout may support traditional multifamily use, residential care, or program-based housing, subject to independent verification of zoning, licensing, permitted uses, and operational suitability.
Additional improvements include multiple laundry areas, office space, storage, and infrastructure supporting the existing residential care operation. The property will be delivered vacant at settlement. Its existing layout may support traditional multifamily use, residential care, or program-based housing, subject to independent verification of zoning, licensing, permitted uses, and operational suitability.
Key Highlights
- 6,000‑square‑foot multifamily property built in 1905
- 9 potential 1BR/1BA residential units across five addresses
- Currently configured and operated as program housing
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
$56,468
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
8.69%
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%
$1,129,360
$1.1M
Cap Rate 7%
$806,686
$806.7K
Cap Rate 9%
$627,422
$627.4K
Market Conditions
NOI Build-Up for 6,000 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
$110.2K $18.36/SF
− Vacancy
−$7.5K −$1.25/SF
EGI
$102.7K $17.11/SF
− OpEx
−$46.2K −$7.70/SF
NOI
$56.5K $9.41/SF
Area
Washington County, MD
Vacancy
6.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$1,129,360
Cap Rate 7%
$806,686
Cap Rate 9%
$627,422
Alternative Uses
Best Use
Apartment 5plus
$806.7K
$705.9K – $941.1K
NOI $56,468 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,165 @ 7.0% cap · market cap 14.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,931
Businesses Nearby
Explore this area
Business Placement
Demographics for 21740, MD
65,619
Population
27,002
Households
2.4
Avg Household Size
39
Median Age
20%
College-Educated
86%
High-School Grad
70.9 sq mi
ZIP Area
926
Density / Sq Mi
$59,410
Median Household Income
$42,159
Median Earnings
$1,031
Median Rent
$241,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property currently configured as program housing with private baths, kitchen areas, living spaces, and support areas.
Where is this apartment building located?
The property is located at 100 EAST AVENUE Hagerstown, MD.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 6,000‑square‑foot multifamily property built in 1905; 9 potential 1BR/1BA residential units across five addresses; Currently configured and operated as program housing
