Brick Quadplex with Two-Bay
For Sale
$675,000
9947 Crossfield Rd, Hagerstown, MD 21740
Four rental units with updated systems and a large two-bay garage, set on adjoining parcels with no city taxes.
Property Size2,380 SF
Price / SF$283.61
Days on Market84
Property Features for 9947 Crossfield Rd
General Information
Standard status
Active
Size
2,380 SF
Additional Details
Multifamily Units
4
Building Details
Year Built
1951
Tenancy
Multi
Listing Agency:
RG Realty, Inc.
(240) 203-6393
Listed By:
Roberto G. Gonzalez · License #598229
Source:
Kandorre
Added: Jun 4
Changed: Aug 23
Last Checked: Aug 26 at 10:42AM
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 RG Realty, Inc.
Investment Insights
Based on property information with market context.
This quadplex includes four residential rental units plus a large 2-bay garage for additional utility on the property. Two detached single-family homes provide four bedrooms and two bathrooms each. A larger brick building contains two fully renovated one-bedroom, one-bath apartments. The structures are solid brick and block construction.
The property comprises three adjoining parcels deeded together, totaling nearly one acre. It features off-street parking and is described as conveniently located near shopping, schools, restaurants, and commuter routes. The offering is lead-free and identified as having no city taxes.
Recent capital improvements are noted throughout the property, including new roofs and gutters, replacement windows, and updated plumbing and electrical systems. The one-bedroom units were gutted and rebuilt with new LVP flooring, drywall, doors, windows, fixtures, and updated kitchens and baths. With a lead-free profile, no city taxes, and FHA-eligibility noted, this configuration can suit an owner-occupant or investor seeking a multi-unit setup with distinct unit mixes and independent residential layouts.
The property comprises three adjoining parcels deeded together, totaling nearly one acre. It features off-street parking and is described as conveniently located near shopping, schools, restaurants, and commuter routes. The offering is lead-free and identified as having no city taxes.
Recent capital improvements are noted throughout the property, including new roofs and gutters, replacement windows, and updated plumbing and electrical systems. The one-bedroom units were gutted and rebuilt with new LVP flooring, drywall, doors, windows, fixtures, and updated kitchens and baths. With a lead-free profile, no city taxes, and FHA-eligibility noted, this configuration can suit an owner-occupant or investor seeking a multi-unit setup with distinct unit mixes and independent residential layouts.
Key Highlights
- Four residential rental units plus a large 2‑bay garage for additional income potential
- Nearly 1‑acre property made up of three adjoining parcels deeded together
- Two detached single‑family homes (each 4 bedrooms, 2 baths) and a larger brick building with two renovated 1‑bedroom, 1‑bath apartments
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
$24,965
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
3.70%
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%
$499,300
$499.3K
Cap Rate 7%
$356,643
$356.6K
Cap Rate 9%
$277,389
$277.4K
Market Conditions
NOI Build-Up for 2,380 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
$38.6K $16.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$35.7K $14.99/SF
− OpEx
−$10.7K −$4.50/SF
NOI
$25.0K $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%
$499,300
Cap Rate 7%
$356,643
Cap Rate 9%
$277,389
Alternative Uses
Best Use
Multifamily LT 5
$356.6K
$312.1K – $416.1K
NOI $24,965 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$320.0K
$280.0K – $373.3K
NOI $22,399 @ 7.0% cap · market cap 3.32%
Theoretical Best
Office A
$527.9K
$461.9K – $615.9K
NOI $36,955 @ 7.0% cap · market cap 5.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
33
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?
Quadplex - Four rental units with updated systems and a large two-bay garage, set on adjoining parcels with no city taxes.
Where is this quadplex located?
The property is located at 9947 Crossfield Rd Hagerstown, MD.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four residential rental units plus a large 2‑bay garage for additional income potential; Nearly 1‑acre property made up of three adjoining parcels deeded together; Two detached single‑family homes (each 4 bedrooms, 2 baths) and a larger brick building with two renovated 1‑bedroom, 1‑bath apartments
