Income-Generating Duplex with Garage
For Sale
Contact for pricing
325 Mitchell Ave, Hagerstown, MD 21740
Professionally managed duplex with stable tenants and garage income potential.
Property Size2,127 SF
Price / SF$148.10
Days on Market844
Property Features for 325 Mitchell Ave
General Information
Standard status
Active
Size
2,127 SF
Class
C
Property subtype
Multifamily
Zoning
RMED
Building Details
Year Built
1899
Listing Agency:
RG Realty Inc
(240) 203-6393
Listed By:
Roberto Gonzalez · License #MD 598229
Source:
Crexi
Added: Apr 30, 2024
Changed: Aug 21
Last Checked: May 12 at 9:14PM
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 property presents an investment opportunity with professionally managed units and stable tenants. The duplex is fully leased, generating a monthly income of $2,680. The property includes three garages located at the rear, which offer the potential for additional income. The property size is 2,127 square feet.
Key Highlights
- Outstanding investment opportunity.
- Professionally managed property with stable tenants.
- Currently leased, generating $2,680 monthly income.
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
$22,311
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
7.08%
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%
$446,220
$446.2K
Cap Rate 7%
$318,729
$318.7K
Cap Rate 9%
$247,900
$247.9K
Market Conditions
NOI Build-Up for 2,127 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
$34.5K $16.20/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$31.9K $14.99/SF
− OpEx
−$9.6K −$4.50/SF
NOI
$22.3K $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%
$446,220
Cap Rate 7%
$318,729
Cap Rate 9%
$247,900
Alternative Uses
Best Use
Multifamily LT 5
$318.7K
$278.9K – $371.9K
NOI $22,311 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$286.0K
$250.2K – $333.6K
NOI $20,018 @ 7.0% cap · market cap 6.35%
Theoretical Best
Office A
$471.8K
$412.8K – $550.5K
NOI $33,027 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,467
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Professionally managed duplex with stable tenants and garage income potential.
Where is this duplex located?
The property is located at 325 Mitchell Ave Hagerstown, MD.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: Outstanding investment opportunity.; Professionally managed property with stable tenants.; Currently leased, generating $2,680 monthly income.
