Side-by-Side
For Sale
$250,000
1127 W WASHINGTON STREET, Hagerstown, MD 21740
Two occupied residences provide three bedrooms, one-and-a-half baths, and laundry hookups per unit.
Property Size2,304 SF
Price / SF$108.51
Days on Market12
Property Features for 1127 W WASHINGTON STREET
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Gross Income
$37,800
Amenities
laundry hookups
Building Details
Year Built
1988
Buildings
1
Listing Agency:
Tia Realty. LLC
(240) 731-9913
Listed By:
Shakira Maxi Huamani · License #5004251
(240) 731-9913
Source:
Cummingsrealtors
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 30 at 6:19PM
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 Tia Realty. LLC
Investment Insights
Based on property information with market context.
This lead-free duplex contains 2,304 square feet and was built in 1988. The two residences are arranged side by side, with each offering three bedrooms, one-and-a-half bathrooms, and laundry hookups. The property is being sold as-is, and conventional financing is required.
Both units are occupied by month-to-month tenants. A roof installed in 2019 adds a documented recent improvement. The property is located at 1127 W Washington Street in Hagerstown, near Starbucks, Panera Bread, Home Depot, shopping, dining, and other everyday amenities.
Both units are occupied by month-to-month tenants. A roof installed in 2019 adds a documented recent improvement. The property is located at 1127 W Washington Street in Hagerstown, near Starbucks, Panera Bread, Home Depot, shopping, dining, and other everyday amenities.
Key Highlights
- 2,304‑square‑foot duplex built in 1988
- Side‑by‑side layout with 2 residential units
- Each unit has 3 bedrooms and 1.5 bathrooms
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
$21,684
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
8.67%
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%
$433,680
$433.7K
Cap Rate 7%
$309,771
$309.8K
Cap Rate 9%
$240,933
$240.9K
Market Conditions
NOI Build-Up for 2,304 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
$42.3K $18.36/SF
− Vacancy
−$2.9K −$1.25/SF
EGI
$39.4K $17.11/SF
− OpEx
−$17.7K −$7.70/SF
NOI
$21.7K $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%
$433,680
Cap Rate 7%
$309,771
Cap Rate 9%
$240,933
Alternative Uses
Best Use
Multifamily LT 5
$345.3K
$302.1K – $402.8K
NOI $24,168 @ 7.0% cap · market cap 9.67%
Second Best
Apartment 5plus
$309.8K
$271.1K – $361.4K
NOI $21,684 @ 7.0% cap · market cap 8.67%
Theoretical Best
Office A
$511.1K
$447.2K – $596.3K
NOI $35,775 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
281
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied residences provide three bedrooms, one-and-a-half baths, and laundry hookups per unit.
Where is this duplex located?
The property is located at 1127 W WASHINGTON STREET Hagerstown, MD.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,304‑square‑foot duplex built in 1988; Side‑by‑side layout with 2 residential units; Each unit has 3 bedrooms and 1.5 bathrooms
