Updated Two-Unit
New
For Sale
$550,000
645 PENNSYLVANIA AVENUE, Hagerstown, MD 21740
Both residences feature refreshed kitchens, updated building systems, new windows, and fire sprinklers.
Property Size3,510 SF
Price / SF$156.70
Days on Market4
Property Features for 645 PENNSYLVANIA AVENUE
General Information
Standard status
Active
Size
3,510 SF
Property subtype
Duplex
Units
Unit Mix
1 x 4BR/3BA, 1 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Sprinkler System
Yes
Building Details
Year Built
1925
Buildings
1
Listing Agency:
RE/MAX Realty Group
(301) 258-7757
Listed By:
Joaquin Cerritos · License #579232
(301) 404-2783
Source:
Cummingsrealtors
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 10 at 2:53AM
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 RE/MAX Realty Group
Investment Insights
Based on property information with market context.
This two-unit duplex at 643-645 Pennsylvania Avenue in Hagerstown has been updated throughout. At 643, the upper level contains three bedrooms and two full bathrooms; the main level has one bedroom and one full bathroom. Hardwood flooring is on the main level, with engineered flooring in the bedrooms, and the basement is unfinished. At 645, three bedrooms and two full bathrooms are upstairs, with a half bath on the main level. Hardwood flooring is on the main level and engineered wood is upstairs.
Both residences have kitchens with granite countertops and stainless steel appliances. Building improvements include new roofs installed in 2025, replacement plumbing and electrical wiring and panels, new windows, interior paint, and fire sprinklers. The property was built in 1925.
Both residences have kitchens with granite countertops and stainless steel appliances. Building improvements include new roofs installed in 2025, replacement plumbing and electrical wiring and panels, new windows, interior paint, and fire sprinklers. The property was built in 1925.
Key Highlights
- Two residences with distinct bedroom and bathroom layouts
- 643 Pennsylvania Avenue: 3 upstairs bedrooms, 2 full bathrooms, and a main‑level bedroom with full bath
- 645 Pennsylvania Avenue: 3 upstairs bedrooms, 2 full bathrooms, and a main‑level half bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,818
Cap Rate
6.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$736,360
$736.4K
Cap Rate 7%
$525,971
$526.0K
Cap Rate 9%
$409,089
$409.1K
Market Conditions
NOI Build-Up for 3,510 SF
Gross rent
$56.9K $16.20/SF
− Vacancy
−$4.3K −$1.22/SF
EGI
$52.6K $14.99/SF
− OpEx
−$15.8K −$4.50/SF
NOI
$36.8K $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%
$736,360
Cap Rate 7%
$525,971
Cap Rate 9%
$409,089
Alternative Uses
Best Use
Multifamily LT 5
$526.0K
$460.2K – $613.6K
NOI $36,818 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$471.9K
$412.9K – $550.6K
NOI $33,034 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$778.6K
$681.3K – $908.4K
NOI $54,502 @ 7.0% cap · market cap 9.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
848
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 - Both residences feature refreshed kitchens, updated building systems, new windows, and fire sprinklers.
Where is this duplex located?
The property is located at 645 PENNSYLVANIA AVENUE Hagerstown, MD.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Two residences with distinct bedroom and bathroom layouts; 643 Pennsylvania Avenue: 3 upstairs bedrooms, 2 full bathrooms, and a main‑level bedroom with full bath; 645 Pennsylvania Avenue: 3 upstairs bedrooms, 2 full bathrooms, and a main‑level half bath
