Turn-Key Duplex Investment
821-823 Concord St, Hagerstown, MD 21740
Call to check price and availability
Well-maintained duplex with strong cash flow and built-in rent growth.
Type:Multifamily
Property size:
2,396 SFPrice / SF:
$150/SF- Added:
- Feb 18, 2026
- Days on Market:
- 92
- Last Refresh:
- Mar 17 at 1:16 pm
Property Features for 821-823 Concord St
General Information
- Standard status
- Active
- Size
- 2,396 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1923
Listing agent Roberto Gonzalez License #MD 598229
Listing office RG Realty Inc (240) 203-6393
Listing date Feb 18, 2026
Source Crexi
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 RG Realty Inc
HighLights
- Strong Cash Flow: Net Operating Income of $30,032.54 in 2025 demonstrates a strong operating margin.
- Turn‑Key Investment: No deferred maintenance allows for immediate, stabilized, low‑maintenance ownership.
- Tenant‑Paid Utilities: Tenants responsible for their own utilities, creating an efficient operating structure.
- Contractual Rent Growth: Leases include scheduled rent escalations, providing predictable income increases.
- Desirable Unit Layout: Each unit features 3 bedrooms and 1.5 bathrooms, a layout that supports long‑term tenant demand.
- Reliable Long‑Term Tenants: Both units are occupied by reliable tenants under long‑term leases, reducing turnover risk.
Overview
Located at 821–823 Concord Street, this well-maintained duplex offers a stabilized investment opportunity with strong cash flow and built-in rent growth. The property consists of two residential units, each configured as 3 bedrooms and 1.5 bathrooms. The 821 unit is leased at a current rent of $1,648 per month, with scheduled increases to $1,697 and $1,748 in future lease years. The 823 unit is leased at $1,576 per month. Both tenants are responsible for their own utilities. For 2025, the property generated total rental income of $37,927.74. Operating expenses were $7,895.20, consisting primarily of property taxes, insurance, and routine repairs and maintenance. As a result, the property produced a Net Operating Income of $30,032.54. Both units are occupied by reliable tenants under long-term leases with scheduled rent escalations. The property represents a turn-key duplex investment with strong cash flow, tenant-paid utilities, contractual rent growth, and long-term appreciation potential, well suited for investors focused on dependable income and portfolio growth. The property size is 2396 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$279.3K
NOI $25,133 @ 9.00% cap · cautious / downside scenario
Moderate
$359.0K
NOI $25,133 @ 7.00% cap · market / base-case scenario
Aggressive
$502.7K
NOI $25,133 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $38.8k | $16.20 |
| − Vacancy | −$2.9k | −$1.22 |
| EGI | $35.9k | $14.99 |
| − OpEx | −$10.8k | −$4.50 |
| NOI | $25.1k | $10.49 |
2,396 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$359.0K
$314.2K – $418.9K
NOI $25,133 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$322.1K
$281.9K – $375.8K
NOI $22,550 @ 7.0% cap · market cap 6.26%
Theoretical Best
Office A
$531.5K
$465.1K – $620.1K
NOI $37,204 @ 7.0% cap · market cap 10.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Hagerstown
- County
- Washington
- State
- Maryland
- Longitude
- -77.7360496
- Latitude
- 39.6459309
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FAQs
What type of property is this?
Duplex - Well-maintained duplex with strong cash flow and built-in rent growth.
Where is this duplex located?
The property is located at 821-823 Concord St Hagerstown, MD.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Strong Cash Flow: Net Operating Income of $30,032.54 in 2025 demonstrates a strong operating margin.; Turn‑Key Investment: No deferred maintenance allows for immediate, stabilized, low‑maintenance ownership.; Tenant‑Paid Utilities: Tenants responsible for their own utilities, creating an efficient operating structure.
