671 HIGHLAND Way, Hagerstown, MD 21740
MULTI_FAMILY - Victorian, Colonial - HAGERSTOWN, MD
- Added:
- Jul 8, 2026
- Days on Market:
- 2
- Last Refresh:
- Jul 9 at 3:06 pm
Property Features for 671 HIGHLAND Way
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking
- 10
- Parking features
- Driveway
- Standard status
- Active
- Size
- 4,666 SF
- Lot size
- 0.58 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4960
Utilities
- Heating system
- Hot Water(Heating)
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1900
- Number of units
- 4
- Building materials
- Brick
- Architectural style
- Colonial, Victorian
Listing agent Alice J Guy License #80505 (717) 977-9031
Listing office Real Estate Innovations 1850 Dual Highway, Hagerstown, MD (301) 745-1500
Listing date Jul 8, 2026
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.
HighLights
- Brick building with Colonial/Victorian architectural style, built in 1900
- 5 units fully rented; 9% cap rate per provided remarks
- Income structure: all leases are yearly except one lease that is month‑to‑month
- Hot water heating with window unit(s) for cooling
- Parking available with a driveway
- New rear steps being installed now
Overview
The property is located at 671 Highland Way in Hagerstown, Washington County, Maryland. The listing also notes it is within walking distance of Hagerstown City Park.
For buyers seeking a small multifamily asset with in-place occupancy, this building’s current leasing structure may support straightforward operations. With four units on yearly leases and one unit on a month-to-month arrangement, the tenancy mix can offer a blend of lease stability and short-term flexibility. Buyers should confirm all lease terms, unit details, and scheduled improvements directly with the broker before touring.
Local Financial Insights For Apartment 5plus
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 | $85.7k | $18.36 |
| − Vacancy | −$5.8k | −$1.25 |
| EGI | $79.8k | $17.11 |
| − OpEx | −$35.9k | −$7.70 |
| NOI | $43.9k | $9.41 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Hagerstown
- County
- Washington
- State
- Maryland
- Longitude
- -77.736
- Latitude
- 39.63083
