838 Georgia Ave · Hagerstown, MD 21740

$115,000

1 bd · 1.0 ba · 540 sqft · SingleFamily public records · 4 Days on market

Built 1942 6,525 sqft lot Est $86k · 34% over

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Why this score? — see what drove the D- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.2/30.0
• DSCR +5.0/10.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Small, Cozy Single Family Home located in Hagerstown's West End. 1 bedroom, 1 bath, kichen with stove and Refrigerator, Dining area and living room. Driveway and Fenced rear yard. Covered Front porch with Swing. Home is Being Offer separately or with 840 Georgia Ave. Together Asking Price is $305,000 25 hour notice to show. No exceptions please

Key facts

• 6,525 sq ft lot
• Built 1942
• Listed 4 days

Property features AI

Finance

• Other: Fee simple ownership

Exterior

• Parking: Driveway parking; On-street parking
• Utilities: Public water; Public sewer
• Home design: Detached structure
• Construction: Frame construction; Block foundation; Built year reported by assessor
• Exterior features: No tidal water; Above-grade and below-grade structures present

Interior

• Bedrooms: One bedroom on the main level
• Bathrooms: One full bathroom (one full on main level)
• Heating & cooling: Electric heating; Electric hot water; Cooling listed as Other
• Interior features: Basement with dirt floor and walkout stairs; Living area reported by assessor; Accessibility features present

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $62 ($744/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (12.3% below list).
• Recommended offer: $101k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% vs local median 4.4% in Hagerstown — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#83 in MD, #3,170 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, health & safety A+; Watch: crime F, employment F.
• Washingtion County Public Schools (suburban): math 18% / reading 33% proficiency, ranked #13 of 24 in MD (top 54%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Ruth Ann Monroe Primary (567 students, 80% FRL); Western Heights Middle (math 6% / reading 30%, grade F, #165 of 225 statewide, top 75%, 903 students, 77% FRL); South Hagerstown High (math 30% / reading 63%, grade D-, #118 of 222 statewide, top 54%, 1,487 students, 78% FRL) — zoned schools average 78% FRL vs 39% district-wide (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.0%/yr); 383 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $69k; list at $115k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1942 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $100,808 (12.3% below list)

Questions for the listing agent

1. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.88% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.31%
• DSCR: 1.10
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $85,860
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
443 W Church St	0.48mi	2/1.0 (+1)	540 (0%)	23mo	$86,000	$159	54

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.58×
• Total profit: $-13,681
• Equity at exit: $17,147

10-year hold

• IRR: -1.1%
• Equity multiple: 0.92×
• Total profit: $-2,625
• Equity at exit: $9,943

Cash invested: $32,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 27 Tenant-Leaning
• State Maryland: 27 Tenant-Leaning · D+14
• County: — inherits STATE
• City: — inherits STATE

Failure-to-pay is dismissed if cured before judgment; Baltimore has just-cause; strict deposit rules.

Methodology + full state rankings →

ZIP-level market 21740

• Rents YoY: 4.0%
• Active inventory: 383
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,008 high
• Mortgage (P&I): −$603
• Tax from tax record: −$83 /mo · $1,000/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $62

Break-even live

Break-even rent $930

Max offer price $115,000

Occupancy floor 89%

Sensitivity live

Price	-10% $127	-5% $95	+0% $62	+5% $29	+10% $-3
Rent	-10% $-18	-5% $22	+0% $62	+5% $102	+10% $142
Rate	-1.0pp $120	-0.5pp $91	base $62	+0.5pp $32	+1.0pp $2

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
505 W Church St Unit 1W 1W Hagerstown, MD	2.0	1.0	700	$1,140	$1.63	23d	1	0.45mi
503 W Church St Hagerstown, MD	1.0	1.0	650	$990	$1.52	23d	1	0.45mi
819 Washington Ave Unit 2E Hagerstown, MD	1.0	1.0	600	$900	$1.50	45d	1	0.52mi
409 George St Apt B Hagerstown, MD	1.0	1.0	600	$875	$1.46	45d	1	0.55mi
229 Jonathan St Unit 202 Hagerstown, MD	1.0	1.0	600	$1,000	$1.67	23d	1	0.72mi
66 W Church St Hagerstown, MD	1.0	1.0	600	$925	$1.54	15d	1	0.76mi
92 W Washington St Unit 202 Hagerstown, MD	1.0	1.0	741	$1,335	$1.80	45d	1	0.87mi
92 W Washington St Unit 312 Hagerstown, MD	1.0	1.0	709	$1,400	$1.97	45d	1	0.87mi
64 W Antietam St Unit 3 Hagerstown, MD	1.0	1.0	500	$825	$1.65	45d	1	0.94mi
64 W Antietam St Unit 8 Hagerstown, MD	1.0	1.0	500	$795	$1.59	45d	1	0.94mi
64 W Antietam St Apt 7 Hagerstown, MD	1.0	1.0	500	$825	$1.65	23d	1	0.94mi
825 Hamilton Blvd Unit B Hagerstown, MD	1.0	1.0	600	$1,050	$1.75	23d	1	0.96mi
38 E Franklin St Unit 3 Hagerstown, MD	1.0	1.0	500	$800	$1.60	45d	1	1.00mi
38 E Franklin St Unit 4 Hagerstown, MD	1.0	1.0	500	$950	$1.90	15d	1	1.00mi
203 S Prospect St Unit 2 Hagerstown, MD	—	1.0	500	$725	$1.45	23d	1	1.01mi
165 Summit Ave Unit 2 Hagerstown, MD	—	1.0	600	$1,100	$1.83	15d	1	1.01mi
44 E Franklin St Unit 3W Hagerstown, MD	1.0	1.5	750	$995	$1.33	15d	1	1.02mi
1401 Haven Rd Hagerstown, MD	1.0–3.0	1.0–1.5	925	$1,539	$1.66	15d	11	1.05mi
327 N Mulberry St Hagerstown, MD	2.0	1.0	700	$1,030	$1.47	23d	1	1.08mi
220 Summit Ave Hagerstown, MD	1.0	1.0	500	$895	$1.79	15d	1	1.10mi
220 Summit Ave Apt 2F Hagerstown, MD	1.0	1.0	600	$995	$1.66	23d	1	1.10mi
207 N Mulberry St Unit 2 Hagerstown, MD	1.0	1.0	740	$1,180	$1.59	23d	1	1.11mi
162 S Potomac St Unit 3 Hagerstown, MD	1.0	1.0	600	$1,100	$1.83	45d	1	1.14mi
37 E Baltimore St Unit 2FAAPT A Hagerstown, MD	1.0	1.0	700	$1,000	$1.43	45d	1	1.20mi
300 Northern Ave Unit 8B Hagerstown, MD	1.0	1.0	600	$1,100	$1.83	15d	1	1.29mi
300 Northern Ave Unit 3H Hagerstown, MD	1.0	1.0	600	$1,100	$1.83	23d	1	1.33mi
231 N Cleveland Ave Unit 5 Hagerstown, MD	1.0	1.0	600	$800	$1.33	15d	1	1.35mi
1334 Potomac Ave Unit PLC-1330-04 Hagerstown, MD	1.0	1.0	460	$1,100	$2.39	45d	1	1.39mi

Listing history 4 events

1. 2026-06-22
   days on market $115,000 Active 4 DOM
2. 2026-06-17
   status $115,000 Active 1 DOM
3. 2026-06-17
   remarks 484-char remark
4. 2026-06-17
   listed $115,000 Coming Soon 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MD · Partial reset (capped growth)

• Current annual tax: $1,000 · $83/mo
• Projected year-2 tax: $1,127 · $94/mo
• Expected delta: +$127/yr (+$11/mo · 12.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 2% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,097
• − Mortgage interest: −$6,442
• − Property taxes: −$1,000
• − Insurance: −$575
• − Repairs & maintenance: −$968
• − Management: −$968
• − Depreciation: −$3,345
• Taxable loss: −$1,201
• Est. tax savings @ 24.0%: +$288
• After-tax cash flow: $1,033/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Washingtion County Public Schools
• NCES district ID: 2400660
• Math proficiency: 18% ▼ -20.00%
• Reading proficiency: 33% ▼ -17.00%
• Median HH income: $54,784
• Composite: 22.87/100
• National rank: #8007
• State rank: #13 of 24 in MD

Livability — Hagerstown

• Score: 77/100
• State rank: #83
• US rank: #3170

Category grades

Amenities B Commute A+ Cost of living A+ Crime F Employment F Housing A Health & safety A+ User ratings C+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hagerstown, MD
• County: Washington County · 98,861 people
• City population: 64,792
• Metro: Hagerstown-Martinsburg, MD-WV
• Population (ZIP): 64,792
• Household income: $62,873
• Rent vs Own: 44.7% rent · 55.3% own
• Severe rent burden: 2832.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 151,614 people
• By 2030: 151,455 · -0.1%
• By 2040: 150,097 · -1.0%
• By 2050: 148,193 · -2.3%
• By 2075: 146,581 · -3.3%
• By 2100: 138,025 · -9.0%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Black 18% Two or more races 10% Hispanic / Latino 10% Asian 2%
• Hispanic origin (detail): Mexican 2% Puerto Rican 2% Dominican 2%
• Common ancestry: Romanian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 86% English-only · Spanish 9% French/Haitian/Cajun 1% Chinese 1%

Political lean MEDSL · Washington

• 2024 margin: Strong R (+23.0) · D 37.3% · R 60.4% · Other 2.3%
• 2008→2024 swing: -10.2pp toward R · 2008: -12.9pp · 2024: -23.0pp
• All cycles: 2024: R+23.0 2020: R+20.9 2016: R+32.4 2012: R+18.5 2008: R+12.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -248.38%
• Current HPI: 264.8018
• Rent YoY: ▲ 4.00%
• Metro: Hagerstown-Martinsburg, MD-WV
• State GDP YoY: ▲ 2.97%
• F500 in state: 12

Industry mix (Fortune 500 HQ in MD)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	1	$71B
▸Utilities	1	$25B
▸Hotels	1	$24B
▸Consumer Goods	1	$7B
▸Real Estate	1	$6B
▸Chemicals	1	$2B

Price history

+45.6% since first listed

6 events — show timeline

• 2026-06-17 Coming Soon $115,000 BRIGHT MLS
• 2022-05-10 Sold (Public Records) $69,000 Public Records
• 2022-04-28 Sold (MLS) $69,000 BRIGHT MLS
• 2022-04-14 Pending — BRIGHT MLS
• 2022-04-13 Listing Removed — BRIGHT MLS
• 2022-04-11 Listed $79,000 BRIGHT MLS

Property tax history

-2.2%/yr

Latest (2025): $1,000 · +13.1% YoY. Source: county tax records.