Over-Under Duplex Income
630 Salem Avenue Hagerstown, MD 21740
For Sale
$220,000
Over-under duplex with separate 1-bedroom, 1-bath units and driveway parking for up to four vehicles.
Property Size1,498 SF
Price / SF$146.86
Days on Market53
Property Features for 630 Salem Avenue
General Information
Standard status
Active
Size
1,498 SF
Property subtype
Multi-Family / Fee Simple
Building Details
Year Built
1904
Listing Agency:
Keller Williams Realty Centre
(301) 275-2352
Listed By:
Andrew J Hopley · License #645497
(301) 275-2352
Source:
Compass
Added: Jun 6
Changed: Jul 22
Last Checked: Jul 28 at 1:29PM
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 Keller Williams Realty Centre
Investment Insights
Based on property information with market context.
This well-maintained over-under duplex includes two separate units, each with 1 bedroom and 1 full bath. The lower unit is currently rented on a month-to-month lease, while the upper unit is vacant and ready for occupancy.
Exterior improvements include replacement of both a flat roof and a shingle roof, along with new gutters in 2025. The property is located in city limits and offers a driveway with parking for up to four vehicles.
Set up for straightforward owner occupancy or rental use, the layout supports low-maintenance living for each unit. The location provides convenient access to Route 81 and Route 70, and is described as close to shopping, restaurants, and Hagerstown’s entertainment district.
Exterior improvements include replacement of both a flat roof and a shingle roof, along with new gutters in 2025. The property is located in city limits and offers a driveway with parking for up to four vehicles.
Set up for straightforward owner occupancy or rental use, the layout supports low-maintenance living for each unit. The location provides convenient access to Route 81 and Route 70, and is described as close to shopping, restaurants, and Hagerstown’s entertainment district.
Key Highlights
- Over‑under duplex in Hagerstown with separate 1‑bedroom, 1‑bath units
- Lower unit is rented for $1,000/month on a month‑to‑month lease with a 20‑year tenant
- Upper unit is vacant and ready for owner occupancy or new tenant
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 | $24.3k | $16.20 |
| − Vacancy | −$1.8k | −$1.22 |
| EGI | $22.4k | $14.99 |
| − OpEx | −$6.7k | −$4.50 |
| NOI | $15.7k | $10.49 |
1,498 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$224.5K
$196.4K – $261.9K
NOI $15,713 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$201.4K
$176.2K – $235.0K
NOI $14,098 @ 7.0% cap · market cap 6.41%
Theoretical Best
Office A
$332.3K
$290.8K – $387.7K
NOI $23,260 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Over-under duplex with separate 1-bedroom, 1-bath units and driveway parking for up to four vehicles.
Where is this duplex located?
The property is located at 630 Salem Avenue Hagerstown, MD.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Over‑under duplex in Hagerstown with separate 1‑bedroom, 1‑bath units; Lower unit is rented for $1,000/month on a month‑to‑month lease with a 20‑year tenant; Upper unit is vacant and ready for owner occupancy or new tenant
