Occupied Duplex with Central
For Sale
$315,000
Pending
345 Woodpoint Avenue, Hagerstown, MD 21740
The property has separately metered utilities and central air.
Property Size1,760 SF
Days on Market156
Property Features for 345 Woodpoint Avenue
General Information
Standard status
Pending
Size
1,760 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RMOD
Occupancy
100%
Additional Details
Gross Income
$31,440
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,707
Amenities
central air
No
No Pool
Building Details
Year Built
1999
Buildings
1
Listing Agency:
Century 21 Redwood Realty
(301) 404-5480
Listed By:
Michael J Burch · License #665246
(301) 404-5480
Source:
Compass
Added: Mar 29
Changed: Aug 29
Last Checked: Aug 31 at 1:27AM
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 Century 21 Redwood Realty
Investment Insights
Based on property information with market context.
This 1,760-square-foot duplex was built in 1999 and is currently tenant occupied. The property includes central air and has received recent work involving a water heater, exterior elements, and general maintenance. Separate utility meters provide distinct accounting for the building’s services.
Located at 345 Woodpoint Avenue in Hagerstown, Maryland, the property is within city limits and falls under RMOD zoning. Showings are available by appointment with proper notice. The asset is also offered as part of a two-property duplex portfolio, although it may be acquired individually.
Located at 345 Woodpoint Avenue in Hagerstown, Maryland, the property is within city limits and falls under RMOD zoning. Showings are available by appointment with proper notice. The asset is also offered as part of a two-property duplex portfolio, although it may be acquired individually.
Key Highlights
- 1,760 SF duplex built in 1999
- Currently tenant occupied
- Central air conditioning
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
$18,462
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
5.86%
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%
$369,240
$369.2K
Cap Rate 7%
$263,743
$263.7K
Cap Rate 9%
$205,133
$205.1K
Market Conditions
NOI Build-Up for 1,760 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
$28.5K $16.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$26.4K $14.99/SF
− OpEx
−$7.9K −$4.50/SF
NOI
$18.5K $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%
$369,240
Cap Rate 7%
$263,743
Cap Rate 9%
$205,133
Alternative Uses
Best Use
Multifamily LT 5
$263.7K
$230.8K – $307.7K
NOI $18,462 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$236.6K
$207.1K – $276.1K
NOI $16,564 @ 7.0% cap · market cap 5.26%
Theoretical Best
Office A
$390.4K
$341.6K – $455.5K
NOI $27,328 @ 7.0% cap · market cap 8.68%
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
201
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 - The property has separately metered utilities and central air.
Where is this duplex located?
The property is located at 345 Woodpoint Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,760 SF duplex built in 1999; Currently tenant occupied; Central air conditioning
