Duplex with Detached
For Sale
$337,000
325 MITCHELL AVENUE, Hagerstown, MD 21740
Fully leased residential property includes three detached garages and two residential units.
Property Size1,418 SF
Price / SF$237.66
Days on Market11
Property Features for 325 MITCHELL AVENUE
General Information
Standard status
Active
Size
1,418 SF
Total Parking Spaces
3
Property subtype
Duplex
Occupancy
100%
Financials
Gross Income
$32,160
Average Monthly Rent
$1,340
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1899
Buildings
1
Tenancy
Multi
Listing Agency:
RG Realty, Inc.
(240) 203-6393
Listed By:
Roberto G. Gonzalez · License #598229
(301) 991-0207
Source:
Cummingsrealtors
Added: Sep 17
Changed: Sep 26
Last Checked: Sep 26 at 9:37AM
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 duplex contains two three-bedroom, one-bath units, each arranged as a separate residential residence. Both units are fully leased, and the property includes three detached garages positioned at the rear. The building dates to 1899 and provides a two-unit configuration with additional detached storage or parking structures.
Located at 325 Mitchell Avenue in Hagerstown, Maryland, the property is offered as an occupied residential income asset. Showings require at least 36 hours’ notice so tenants can be notified. Friday appointments must be arranged before 3:00 PM, with additional scheduling restrictions noted for the management company’s weekend availability.
Located at 325 Mitchell Avenue in Hagerstown, Maryland, the property is offered as an occupied residential income asset. Showings require at least 36 hours’ notice so tenants can be notified. Friday appointments must be arranged before 3:00 PM, with additional scheduling restrictions noted for the management company’s weekend availability.
Key Highlights
- Two three‑bedroom, one‑bath residential units
- Both units are fully leased
- Three detached garages at the rear of the property
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
$14,874
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
4.41%
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%
$297,480
$297.5K
Cap Rate 7%
$212,486
$212.5K
Cap Rate 9%
$165,267
$165.3K
Market Conditions
NOI Build-Up for 1,418 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
$23.0K $16.20/SF
− Vacancy
−$1.7K −$1.22/SF
EGI
$21.2K $14.99/SF
− OpEx
−$6.4K −$4.50/SF
NOI
$14.9K $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%
$297,480
Cap Rate 7%
$212,486
Cap Rate 9%
$165,267
Alternative Uses
Best Use
Multifamily LT 5
$212.5K
$185.9K – $247.9K
NOI $14,874 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$190.6K
$166.8K – $222.4K
NOI $13,345 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$314.5K
$275.2K – $367.0K
NOI $22,018 @ 7.0% cap · market cap 6.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,467
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
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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?
Duplex - Fully leased residential property includes three detached garages and two residential units.
Where is this duplex located?
The property is located at 325 MITCHELL AVENUE Hagerstown, MD.
What is the asking price?
The asking price for this property is $337,000.
What are key features of this property?
This property features: Two three‑bedroom, one‑bath residential units; Both units are fully leased; Three detached garages at the rear of the property
