Hagerstown Duplex Investment
904-906 Chestnut Street Hagerstown, MD 21740
904-906 Chestnut Street, Hagerstown, MD, 21740
$284,900
For Sale
$284,900
Fully rented duplex with value-add potential in a prime location.
Property Size1,724 SF
Price / SF$165.26
Days on Market93
Property Features for 904-906 Chestnut Street
General Information
- Standard status
- Active
- Size
- 1,724 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1938
Listing Agency
The Glocker Group Realty Results
(301) 992-8467
Listed by
Christian L Dickerson · License #602651
(301) 992-8467
Source
Compass
Added: Apr 15 Checked: Jul 16 at 8:00 am
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 The Glocker Group Realty Results
Investment Insights
Based on property information with market context.
This fully rented up-and-down duplex presents an excellent investment opportunity in a prime location, boasting a strong rental history and upside potential. The property features two 2-bedroom, 1-bath units, each equipped with separate electric meters. A detached 2-car garage is also included. Unit 904 is currently rented for $950 per month, while Unit 906 is rented below market value at $800 per month, presenting immediate value-add potential for increased cash flow. Property improvements include replacement windows and an upgraded 200-amp electrical panel. With stable income and future growth opportunities, this duplex is a solid addition to any investment portfolio. The property is located within city limits in Washington County and is part of the Washington County Public Schools district. The property size is 1724 square feet.
Key Highlights
- Fully rented duplex in a prime location with strong rental history.
- Immediate value‑add potential with below‑market rent on one unit ($800/month).
- Two 2‑bedroom, 1‑bath units, each with separate electric meters.
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 | $27.9k | $16.20 |
| − Vacancy | −$2.1k | −$1.22 |
| EGI | $25.8k | $14.99 |
| − OpEx | −$7.8k | −$4.50 |
| NOI | $18.1k | $10.49 |
1,724 SF · lease $16.20/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$258.3K
$226.1K – $301.4K
NOI $18,084 @ 7.0% cap · market cap 6.35%
Second Best
Apartment 5plus
$231.8K
$202.8K – $270.4K
NOI $16,225 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$382.4K
$334.6K – $446.2K
NOI $26,769 @ 7.0% cap · market cap 9.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Fully rented duplex with value-add potential in a prime location.
Where is this duplex located?
The property is located at 904-906 Chestnut Street Hagerstown, MD.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: Fully rented duplex in a prime location with strong rental history.; Immediate value‑add potential with below‑market rent on one unit ($800/month).; Two 2‑bedroom, 1‑bath units, each with separate electric meters.
