Duplex with Off-Street
For Sale
$375,000
Pending
813-815 West Washington Street, Hagerstown, MD 21740
Two-unit residential property with patios, balconies, appliances, and a level rear yard.
Property Size3,010 SF
Days on Market165
Property Features for 813-815 West Washington Street
General Information
Standard status
Pending
Size
3,010 SF
Total Parking Spaces
4
Property subtype
Multi-Family / Fee Simple
Zoning
RMED
Taxes and HOA fees
Annual Taxes
$2,962
Amenities
No
Refrigerator, Stove
Storm
Vinyl Clad, Double Pane, Double Hung
Attic, Bathroom - Tub Shower, Carpet, Dining Area
Smoke Detector, Carbon Monoxide Detector(s)
https://integrityimagingsolutionsllc.hd.pics/813-W-Washington-Ave/idx
No Pool
Sidewalks
Balcony, Patio(s), Porch(es)
Building Details
Year Built
1906
Listing Agency:
Long & Foster Real Estate, Inc.
(240) 818-8831
Listed By:
Sheila N Mangum · License #635578
(240) 818-8831
Source:
Compass
Added: Mar 20
Changed: Aug 30
Last Checked: Aug 30 at 3:53PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This duplex offers 3,010 square feet of finished area across a twin or semi-detached configuration. Interior features include laminate plank, carpet, and vinyl flooring, along with a dining area, attic storage, and bathrooms with tub-shower combinations. The property includes a refrigerator, stove, built-in microwave, and dishwasher. Vinyl siding, double-pane windows, and multiple outdoor areas add practical functionality for residential occupancy.
Set on a 0.2-acre level lot in Hagerstown, the property provides a paved parking area with space for up to four vehicles. Patios, balconies, porches, sidewalks, and a level rear yard extend the usable outdoor area. Built in 1906, the property is located within city limits and falls under RMED zoning. It is served by Washington County Public Schools, including South Hagerstown High School, Western Heights Middle School, and Salem Avenue Elementary School.
Set on a 0.2-acre level lot in Hagerstown, the property provides a paved parking area with space for up to four vehicles. Patios, balconies, porches, sidewalks, and a level rear yard extend the usable outdoor area. Built in 1906, the property is located within city limits and falls under RMED zoning. It is served by Washington County Public Schools, including South Hagerstown High School, Western Heights Middle School, and Salem Avenue Elementary School.
Key Highlights
- Duplex with 3,010 square feet of finished area
- 0.2‑acre level lot within Hagerstown city limits
- Paved off‑street parking for up to four vehicles
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
$31,573
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
8.42%
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%
$631,460
$631.5K
Cap Rate 7%
$451,043
$451.0K
Cap Rate 9%
$350,811
$350.8K
Market Conditions
NOI Build-Up for 3,010 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
$48.8K $16.20/SF
− Vacancy
−$3.7K −$1.22/SF
EGI
$45.1K $14.99/SF
− OpEx
−$13.5K −$4.50/SF
NOI
$31.6K $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%
$631,460
Cap Rate 7%
$451,043
Cap Rate 9%
$350,811
Alternative Uses
Best Use
Multifamily LT 5
$451.0K
$394.7K – $526.2K
NOI $31,573 @ 7.0% cap · market cap 8.42%
Second Best
Apartment 5plus
$404.7K
$354.1K – $472.1K
NOI $28,328 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$667.7K
$584.2K – $779.0K
NOI $46,738 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
583
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with patios, balconies, appliances, and a level rear yard.
Where is this duplex located?
The property is located at 813-815 West Washington Street Hagerstown, MD.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Duplex with 3,010 square feet of finished area; 0.2‑acre level lot within Hagerstown city limits; Paved off‑street parking for up to four vehicles
