Updated Two-Unit
For Sale
$289,900
Pending
1320 DELAWARE LANE, Hagerstown, MD 21740
Two separately metered residences offer independent utilities, laundry hookups, and dedicated outdoor areas.
Property Size2,296 SF
Days on Market27
Property Features for 1320 DELAWARE LANE
General Information
Standard status
Pending
Size
2,296 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Amenities
separate laundry hookups
central air conditioning
gas heat
private covered front porch
private patio
large level back yard
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Mackintosh , Inc.
(301) 790-1700
Listed By:
Julie Fritsch · License #651169
(240) 818-1650
Source:
Cummingsrealtors
Added: Sep 15
Changed: Oct 10
Last Checked: Oct 9 at 10:50PM
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 Mackintosh , Inc.
Investment Insights
Based on property information with market context.
This over-under duplex contains two residences within a 2,296-square-foot property built in 1950. Each unit includes three bedrooms, one full bathroom, a living room, and an eat-in kitchen. Separate laundry hookups, hot water heaters, central air conditioning, gas heat, and utility metering support independent operation for both units.
The lower residence has been updated and includes a covered front porch. The upper residence opens to a private patio and a level rear yard. Parking is provided by paved and private driveways, with additional access from the rear alley. The property is located less than one mile from I-81 and I-70, with shopping, restaurants, downtown Hagerstown, the Maryland Theatre, and Meritus Park nearby. West Virginia and Pennsylvania are also within minutes.
The lower residence has been updated and includes a covered front porch. The upper residence opens to a private patio and a level rear yard. Parking is provided by paved and private driveways, with additional access from the rear alley. The property is located less than one mile from I-81 and I-70, with shopping, restaurants, downtown Hagerstown, the Maryland Theatre, and Meritus Park nearby. West Virginia and Pennsylvania are also within minutes.
Key Highlights
- 2,296‑square‑foot over‑under duplex built in 1950
- Each unit offers 3 bedrooms, 1 full bathroom, living room, and eat‑in kitchen
- Separate laundry hookups, hot water heaters, HVAC, gas heat, and utility meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,084
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$481,680
$481.7K
Cap Rate 7%
$344,057
$344.1K
Cap Rate 9%
$267,600
$267.6K
Market Conditions
NOI Build-Up for 2,296 SF
Gross rent
$37.2K $16.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$34.4K $14.99/SF
− OpEx
−$10.3K −$4.50/SF
NOI
$24.1K $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 Rate 5%
$481,680
Cap Rate 7%
$344,057
Cap Rate 9%
$267,600
Alternative Uses
Best Use
Multifamily LT 5
$344.1K
$301.1K – $401.4K
NOI $24,084 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$308.7K
$270.1K – $360.1K
NOI $21,608 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$509.3K
$445.6K – $594.2K
NOI $35,651 @ 7.0% cap · market cap 12.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
209
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered residences offer independent utilities, laundry hookups, and dedicated outdoor areas.
Where is this duplex located?
The property is located at 1320 DELAWARE LANE Hagerstown, MD.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: 2,296‑square‑foot over‑under duplex built in 1950; Each unit offers 3 bedrooms, 1 full bathroom, living room, and eat‑in kitchen; Separate laundry hookups, hot water heaters, HVAC, gas heat, and utility meters for each unit
