2-Unit Duplex with Rear
For Sale
$284,990
422 N LOCUST ST, Hagerstown, MD 21740
Occupied duplex with off-street parking, a backyard, and outdoor space serving both residential units.
Property Size2,580 SF
Price / SF$110.46
Days on Market83
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Property Features for 422 N LOCUST ST
General Information
Standard status
Active
Size
2,580 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Gross Income
$30,900
Multifamily Units
2
Amenities
off-street parking
spacious backyard
rear deck
Listing Agency:
Long & Foster Real Estate, Inc.
(301) 694-8000
Listed By:
Tyler Austin Charles · License #676096
(888) 536-0216
Source:
Graves
Added: Jul 25
Changed: Oct 3
Last Checked: Oct 14 at 10:57PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This 2,580-square-foot duplex, built in 1910, contains two residential units occupied by long-term tenants. The property includes off-street parking, a spacious backyard, and a rear deck that expands the available outdoor area. Both units are currently leased, providing established occupancy for an owner seeking a residential income property.
The property is located in Hagerstown near major commuter routes, shopping centers, restaurants, and everyday services. Its two-unit configuration and existing tenant occupancy offer a straightforward addition to a multifamily portfolio or an entry point into residential rental ownership.
The property is located in Hagerstown near major commuter routes, shopping centers, restaurants, and everyday services. Its two-unit configuration and existing tenant occupancy offer a straightforward addition to a multifamily portfolio or an entry point into residential rental ownership.
Key Highlights
- Two‑unit duplex with 2,580 square feet
- Built in 1910
- Both units occupied by long‑term tenants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,281
Cap Rate
8.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$485,620
$485.6K
Cap Rate 7%
$346,871
$346.9K
Cap Rate 9%
$269,789
$269.8K
Market Conditions
NOI Build-Up for 2,580 SF
Gross rent
$47.4K $18.36/SF
− Vacancy
−$3.2K −$1.25/SF
EGI
$44.1K $17.11/SF
− OpEx
−$19.9K −$7.70/SF
NOI
$24.3K $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 Rate 5%
$485,620
Cap Rate 7%
$346,871
Cap Rate 9%
$269,789
Alternative Uses
Best Use
Multifamily LT 5
$386.6K
$338.3K – $451.1K
NOI $27,063 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$346.9K
$303.5K – $404.7K
NOI $24,281 @ 7.0% cap · market cap 8.52%
Theoretical Best
Office A
$572.3K
$500.8K – $667.7K
NOI $40,061 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,708
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Occupied duplex with off-street parking, a backyard, and outdoor space serving both residential units.
Where is this duplex located?
The property is located at 422 N LOCUST ST Hagerstown, MD.
What is the asking price?
The asking price for this property is $284,990.
What are key features of this property?
This property features: Two‑unit duplex with 2,580 square feet; Built in 1910; Both units occupied by long‑term tenants
