Residential Income Property with
For Sale
$149,900
36 High St, Hagerstown, MD 21740
Month-to-month occupancy and tenant-paid utilities support straightforward management of this Hagerstown residential property.
Property Size1,104 SF
Price / SF$135.78
Days on Market23
Property Features for 36 High St
General Information
Standard status
Active
Size
1,104 SF
Property subtype
Multi-Family
Building Details
Year Built
1894
Listing Agency:
The Glocker Group Realty Results
(240) 452-8858
Listed By:
Caleb Gee · License #RSR004926
Source:
Localrealestateleaders
Added: Aug 10
Changed: Aug 29
Last Checked: Aug 30 at 8:48PM
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 The Glocker Group Realty Results
Investment Insights
Based on property information with market context.
This Hagerstown residential income property at 36 High St offers 1,104 square feet of living space and was built in 1894. The home includes 2 full bathrooms, a sealed metal roof, all-new replacement windows, and a 2-year-old furnace. These improvements provide useful updates within the existing residential configuration.
The property is occupied under a month-to-month lease, with the tenant responsible for all utilities. Its residential layout and established occupancy create a straightforward income-producing profile for an owner seeking a smaller multifamily asset.
The property is occupied under a month-to-month lease, with the tenant responsible for all utilities. Its residential layout and established occupancy create a straightforward income-producing profile for an owner seeking a smaller multifamily asset.
Key Highlights
- 1,104‑square‑foot residential income property at 36 High St, Hagerstown, MD 21740
- 2 full bathrooms
- Sealed metal roof
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
$10,390
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
6.93%
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%
$207,800
$207.8K
Cap Rate 7%
$148,429
$148.4K
Cap Rate 9%
$115,444
$115.4K
Market Conditions
NOI Build-Up for 1,104 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
$20.3K $18.36/SF
− Vacancy
−$1.4K −$1.25/SF
EGI
$18.9K $17.11/SF
− OpEx
−$8.5K −$7.70/SF
NOI
$10.4K $9.41/SF
Area
Washington County, MD
Vacancy
6.80%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
45.00%
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%
$207,800
Cap Rate 7%
$148,429
Cap Rate 9%
$115,444
Alternative Uses
Best Use
Apartment 5plus
$148.4K
$129.9K – $173.2K
NOI $10,390 @ 7.0% cap · market cap 6.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$244.9K
$214.3K – $285.7K
NOI $17,142 @ 7.0% cap · market cap 11.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,572
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?
Multifamily property - Month-to-month occupancy and tenant-paid utilities support straightforward management of this Hagerstown residential property.
Where is this multifamily property located?
The property is located at 36 High St Hagerstown, MD.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: 1,104‑square‑foot residential income property at 36 High St, Hagerstown, MD 21740; 2 full bathrooms; Sealed metal roof
