Hagerstown Triplex: Investment
428 VIRGINIA Avenue Hagerstown, MD 21740
For Sale
$384,900
MULTI_FAMILY - Colonial - HAGERSTOWN, MD
Property Size2,904 SF
Lot Size0.17 Acres
Price / SF$132.54
Days on Market106
Property Features for 428 VIRGINIA Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- Alley
- 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)
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: Jun 9
Last Checked: Jul 24 at 9:06PM
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 fully tenant-occupied, all-brick triplex is situated across from Hagerstown City Park. Each unit features spacious, light-filled rooms and hardwood flooring. The first-floor unit includes a fireplace. Tenants have access to a large front porch with park views, a private rear porch, a garden-style tub, and off-street parking with rear alley access. Tenants are responsible for their own heating and utilities. The property has been updated to meet current city code standards. Located three blocks from the new multi-sports stadium currently under construction, this property is positioned to benefit from growth and revitalization. The property size is 2904 square feet, situated on a 0.165-acre lot.
Key Highlights
- Fully occupied 3‑unit brick property provides immediate rental income.
- Prime location directly across from Hagerstown City Park offers desirable views and access to recreation.
- Proximity to the new multi‑sports stadium (3 blocks away) promises future growth and increased property value.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.0k | $16.20 |
| − Vacancy | −$3.5k | −$1.22 |
| EGI | $43.5k | $14.99 |
| − OpEx | −$13.1k | −$4.50 |
| NOI | $30.5k | $10.49 |
2,904 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Fully occupied triplex across from Hagerstown City Park.
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 property provides immediate rental income.; Prime location directly across from Hagerstown City Park offers desirable views and access to recreation.; Proximity to the new multi‑sports stadium (3 blocks away) promises future growth and increased property value.
