Brick Triplex Across From City
For Sale
$384,900
428 VIRGINIA Avenue, Hagerstown, MD 21740
Multi-Family, HAGERSTOWN, MD
Property Size2,904 SF
Lot Size0.17 Acres
Price / SF$132.54
Days on Market180
Property Features for 428 VIRGINIA Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Alley
Elementary school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Middle school district
WASHINGTON COUNTY PUBLIC SCHOOLS
High school district
WASHINGTON COUNTY PUBLIC SCHOOLS
Standard status
Active
Size
2,904 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
4614
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Amenities
front porch
rear porch
off-street parking
Building Details
Year built
1900
Number of units
3
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Samson Properties
(301) 739-4800
Listed By:
Steven L Powell · License #526751
(301) 991-7990
Added: Apr 10
Changed: Aug 19
Last Checked: Oct 6 at 2:06AM
MLS# MDWA2034868
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,904-square-foot Colonial triplex contains three tenant-occupied units in an all-brick building constructed in 1900. Interior features include spacious rooms, hardwood flooring, and a first-floor fireplace. Residents have access to a large front porch with views toward Hagerstown City Park, along with a private rear porch. Off-street parking is available through the rear alley, and the property includes a basement, window-unit cooling, and other heating systems.
The property sits directly across from Hagerstown City Park and approximately three blocks from a new multi-sports stadium under construction. Recent updates brought the building into compliance with current city code standards. Tenants are responsible for their own heating and utilities. The 0.165-acre parcel is located in Hagerstown, Maryland.
The property sits directly across from Hagerstown City Park and approximately three blocks from a new multi-sports stadium under construction. Recent updates brought the building into compliance with current city code standards. Tenants are responsible for their own heating and utilities. The 0.165-acre parcel is located in Hagerstown, Maryland.
Key Highlights
- Fully occupied 3‑unit brick triplex
- 2,904 square feet on a 0.165‑acre parcel
- Directly across from Hagerstown City Park
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,462
Cap Rate
7.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,240
$609.2K
Cap Rate 7%
$435,171
$435.2K
Cap Rate 9%
$338,467
$338.5K
Market Conditions
NOI Build-Up for 2,904 SF
Gross rent
$47.0K $16.20/SF
− Vacancy
−$3.5K −$1.22/SF
EGI
$43.5K $14.99/SF
− OpEx
−$13.1K −$4.50/SF
NOI
$30.5K $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 Rate 5%
$609,240
Cap Rate 7%
$435,171
Cap Rate 9%
$338,467
Alternative Uses
Best Use
Multifamily LT 5
$435.2K
$380.8K – $507.7K
NOI $30,462 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$390.4K
$341.6K – $455.5K
NOI $27,331 @ 7.0% cap · market cap 7.10%
Theoretical Best
Office A
$644.2K
$563.7K – $751.5K
NOI $45,092 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,067
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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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Fully occupied three-unit property with hardwood floors, porches, off-street parking, and rear alley access.
Where is this triplex located?
The property is located at 428 VIRGINIA Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $384,900.
What are key features of this property?
This property features: Fully occupied 3‑unit brick triplex; 2,904 square feet on a 0.165‑acre parcel; Directly across from Hagerstown City Park
