Three-Story Two-Unit
For Sale
$324,900
430 VIRGINIA AVENUE, Hagerstown, MD 21740
Flexible duplex layout with separate living areas, rear off-street parking, and views toward the city park.
Property Size2,313 SF
Price / SF$140.47
Days on Market12
Property Features for 430 VIRGINIA AVENUE
General Information
Standard status
Active
Size
2,313 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
2
Building Details
Year Built
1908
Buildings
1
Listing Agency:
The Glocker Group Realty Results
(301) 745-4400
Listed By:
Christian L Dickerson · License #RSR000751
(301) 992-8467
Source:
Cummingsrealtors
Added: Sep 16
Changed: Sep 26
Last Checked: Sep 26 at 8:31AM
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.
Built in 1908, this 2,313-square-foot duplex is arranged across three levels with two distinct living units. The first unit includes two bedrooms, one full bathroom, a kitchen, dining area, and living room. The second unit spans the upper floors, offering three bedrooms, two full bathrooms, a remodeled kitchen, dining space, and a large family room with an additional room.
Rear off-street parking is accessed by an alley connecting Reynolds Avenue and Summit Avenue. The property also overlooks the city park, adding an open outlook to the residential setting.
Rear off-street parking is accessed by an alley connecting Reynolds Avenue and Summit Avenue. The property also overlooks the city park, adding an open outlook to the residential setting.
Key Highlights
- 2,313 SF duplex built in 1908
- Unit 1 includes 2 bedrooms and 1 full bath
- Unit 2 includes 3 bedrooms and 2 full baths
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
$24,262
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
7.47%
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%
$485,240
$485.2K
Cap Rate 7%
$346,600
$346.6K
Cap Rate 9%
$269,578
$269.6K
Market Conditions
NOI Build-Up for 2,313 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
$37.5K $16.20/SF
− Vacancy
−$2.8K −$1.22/SF
EGI
$34.7K $14.99/SF
− OpEx
−$10.4K −$4.50/SF
NOI
$24.3K $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%
$485,240
Cap Rate 7%
$346,600
Cap Rate 9%
$269,578
Alternative Uses
Best Use
Multifamily LT 5
$346.6K
$303.3K – $404.4K
NOI $24,262 @ 7.0% cap · market cap 7.47%
Second Best
Apartment 5plus
$311.0K
$272.1K – $362.8K
NOI $21,768 @ 7.0% cap · market cap 6.70%
Theoretical Best
Office A
$513.1K
$448.9K – $598.6K
NOI $35,915 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
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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Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Flexible duplex layout with separate living areas, rear off-street parking, and views toward the city park.
Where is this duplex located?
The property is located at 430 VIRGINIA AVENUE Hagerstown, MD.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 2,313 SF duplex built in 1908; Unit 1 includes 2 bedrooms and 1 full bath; Unit 2 includes 3 bedrooms and 2 full baths
