Turn-Key Duplex with Rent
821 Concord Street Hagerstown, MD 21740
821 Concord Street, Hagerstown, MD, 21740
$360,000
For Sale
$360,000
Two leased 3-bedroom, 1.5-bath units with tenant-paid utilities and scheduled rent increases for future lease years.
Property Size2,032 SF
Price / SF$177.17
Days on Market154
Property Features for 821 Concord Street
General Information
- Standard status
- Active
- Size
- 2,032 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1923
Listing agency
RG Realty, Inc.
(301) 991-0207
Listed by
Roberto G. Gonzalez · License #598229
(301) 991-0207
Source
Compass
Added: Feb 17 Updated: Jul 21 at 12:53AM Checked: Jul 21 at 8:07AM
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.
Investment Insights
Based on property information with market context.
This turn-key duplex offers two residential units, each laid out as 3 bedrooms and 1.5 bathrooms. Both units are currently occupied under long-term leases, and the operating setup includes tenant-paid utilities. The 821 unit is leased at a current monthly rent of $1,648, with scheduled increases to $1,697 and $1,748 in future lease years, while the 823 unit is leased at $1,576 per month.
Located in Hagerstown, MD, the property is listed as being in city limits and is identified as 821–823 Concord Street. For 2025, reported total rental income was $37,927.74 with operating expenses of $7,895.20, primarily including property taxes, insurance, and routine repairs and maintenance. Net operating income for the year was reported as $30,032.54.
The presentation states there is no deferred maintenance, aiming to provide a stabilized, low-maintenance ownership experience for a new investor.
Located in Hagerstown, MD, the property is listed as being in city limits and is identified as 821–823 Concord Street. For 2025, reported total rental income was $37,927.74 with operating expenses of $7,895.20, primarily including property taxes, insurance, and routine repairs and maintenance. Net operating income for the year was reported as $30,032.54.
The presentation states there is no deferred maintenance, aiming to provide a stabilized, low-maintenance ownership experience for a new investor.
Key Highlights
- 1923‑built duplex at 821–823 Concord Street, offering two leased residential units.
- Each unit is configured as 3 bedrooms and 1.5 bathrooms.
- Scheduled rent increases for 821: $1,648/month with increases to $1,697 and $1,748 in future lease years.
Local 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 | $32.9k | $16.20 |
| − Vacancy | −$2.5k | −$1.22 |
| EGI | $30.4k | $14.99 |
| − OpEx | −$9.1k | −$4.50 |
| NOI | $21.3k | $10.49 |
2,032 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$304.5K
$266.4K – $355.3K
NOI $21,315 @ 7.0% cap · market cap 5.92%
Second Best
Apartment 5plus
$273.2K
$239.1K – $318.7K
NOI $19,124 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$450.7K
$394.4K – $525.9K
NOI $31,552 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two leased 3-bedroom, 1.5-bath units with tenant-paid utilities and scheduled rent increases for future lease years.
Where is this duplex located?
The property is located at 821 Concord Street 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: 1923‑built duplex at 821–823 Concord Street, offering two leased residential units.; Each unit is configured as 3 bedrooms and 1.5 bathrooms.; Scheduled rent increases for 821: $1,648/month with increases to $1,697 and $1,748 in future lease years.
