Renovated Duplex and Buildable
113 117 119 FAIRGROUND Avenue Hagerstown, MD 21740
New
For Sale
$435,000
MULTI_FAMILY - Other - HAGERSTOWN, MD
Property Size1,610 SF
Lot Size0.13 Acres
Price / SF$270.19
Days on Market4
Property Features for 113 117 119 FAIRGROUND Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
4
Parking features
Off Street, Garage - Detached, On Street
Standard status
Active
Size
1,610 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
2976
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Year built
1920
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
CENTURY 21 New Millennium
(301) 519-8100
Listed By:
Alex Saenger · License #588365
(301) 200-1232
Added: Jul 24
Last Checked: Jul 27 at 1:06PM
MLS# MDWA2038866
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 offering includes three separately deeded parcels sold together: a fully renovated duplex with two occupied units and an adjoining buildable lot. The duplex at 117 and 119 Fairground Ave features two separate units, each with spacious living and dining rooms, shared covered front and rear porches, and separate basements, along with access to a detached two-car garage at the rear.
Updates include refinished hardwood floors, fresh paint, renovated kitchens with upgraded cabinetry and appliances, updated bathrooms, modern lighting, updated fixtures, and new electric central HVAC systems providing heating and air conditioning in each unit. The duplex is currently fully occupied, generating $3,480 per month in gross rental income.
The adjoining parcel at 113 Fairground Ave is a flat, RMED-zoned lot. The seller confirmed with the City that it is suitable for construction of a new single-family residence, while a duplex is not permitted. Buyers are advised to verify development plans with the City of Hagerstown.
Updates include refinished hardwood floors, fresh paint, renovated kitchens with upgraded cabinetry and appliances, updated bathrooms, modern lighting, updated fixtures, and new electric central HVAC systems providing heating and air conditioning in each unit. The duplex is currently fully occupied, generating $3,480 per month in gross rental income.
The adjoining parcel at 113 Fairground Ave is a flat, RMED-zoned lot. The seller confirmed with the City that it is suitable for construction of a new single-family residence, while a duplex is not permitted. Buyers are advised to verify development plans with the City of Hagerstown.
Key Highlights
- Renovated duplex at 117 & 119 Fairground Ave fully occupied, generating $3,480/month ($41,760/year) gross rental income
- Duplex unit mix: Unit 117 rents for $1,800/month with 3BR/1 full bath/1 half bath; Unit 119 rents for $1,680/month with 3BR/1 full bath
- Includes adjoining separately deeded buildable lot at 113 Fairground Ave; flat RMED‑zoned parcel beside the duplex
Financial Insights For Multifamily LT 5
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 | $26.1k | $16.20 |
| − Vacancy | −$2.0k | −$1.22 |
| EGI | $24.1k | $14.99 |
| − OpEx | −$7.2k | −$4.50 |
| NOI | $16.9k | $10.49 |
1,610 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$241.3K
$211.1K – $281.5K
NOI $16,888 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$216.5K
$189.4K – $252.5K
NOI $15,152 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$357.1K
$312.5K – $416.7K
NOI $24,999 @ 7.0% cap · market cap 5.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Renovated duplex units plus an adjoining buildable lot, both offered together as three separately deeded parcels.
Where is this duplex located?
The property is located at 113 117 119 FAIRGROUND Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $435,000.
What are key features of this property?
This property features: Renovated duplex at 117 & 119 Fairground Ave fully occupied, generating $3,480/month ($41,760/year) gross rental income; Duplex unit mix: Unit 117 rents for $1,800/month with 3BR/1 full bath/1 half bath; Unit 119 rents for $1,680/month with 3BR/1 full bath; Includes adjoining separately deeded buildable lot at 113 Fairground Ave; flat RMED‑zoned parcel beside the duplex
