719 N Locust St · Hagerstown, MD 21740

$147,000

3 bd · 1.0 ba · 1,072 sqft · Townhouse public records · 169 Days on market

Built 1911 1,808 sqft lot $137/sqft · 34% below area Est $222k · 34% under

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Why this score? — see what drove the C+ 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 +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.4/10.0
• 1% rule +5.1/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime Investment Opportunity with Established Income Streams This professionally managed half duplex home presents an exceptional opportunity for investors seeking stable cash flow. For those looking to expand their portfolio, this property can be acquired as part of a package with two additional fully occupied properties, 2 Duplexes.

Key facts

• 1,808 sq ft lot
• Built 1911
• Listed 169 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $147k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $147k).
• Recommended offer: $129k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: schools C-, 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.
• Market conditions: Rents rising fast (+4.0%/yr); 368 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 169 days — a 12% lower offer ($129k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 19y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $38k; list at $147k implies a 292% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; extreme-heat days projected 7→16/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $129,360 (12.0% below list)

Questions for the listing agent

1. It's been on market 169 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1911 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 8.3

CMA / ARV

• ARV (median comp): $222,272
• List price: $147,000
• Delta: -33.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Mccomas St	0.06mi	3/2.0	1,144 (+7%)	1mo	$179,500	$157	82
649 N Mulberry St	0.11mi	3/1.0	1,064 (-1%)	16mo	$45,000	$42	80
651 N Mulberry St N	0.11mi	2/1.0 (-1)	1,064 (-1%)	16mo	$65,000	$61	75
39 Charles St	0.30mi	3/1.0	1,120 (+4%)	6mo	$158,900	$142	74
606 N Mulberry St	0.18mi	3/1.5	1,205 (+12%)	10mo	$170,000	$141	61
119 N Mulberry St	0.62mi	2/1.0 (-1)	1,000 (-7%)	2mo	$155,000	$155	53
428 Cook St	0.73mi	2/1.0 (-1)	1,104 (+3%)	3mo	$65,000	$59	53
238 N Locust St	0.47mi	2/1.0 (-1)	1,008 (-6%)	14mo	$110,000	$109	51
227 N Locust St	0.49mi	3/1.0	1,216 (+13%)	7mo	$87,400	$72	49
137 Randolph Ave	0.47mi	2/1.0 (-1)	1,162 (+8%)	15mo	$134,000	$115	47
18 Belview Ave	0.44mi	2/1.0 (-1)	1,230 (+15%)	7mo	$174,900	$142	44
330 N Cannon Ave	0.46mi	2/1.0 (-1)	912 (-15%)	13mo	$150,000	$164	38

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: -5.8%
• Equity multiple: 0.78×
• Total profit: $-8,935
• Equity at exit: $21,918

10-year hold

• IRR: 5.0%
• Equity multiple: 1.38×
• Total profit: $15,714
• Equity at exit: $12,710

Cash invested: $41,160 (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: 368
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,480 high
• Mortgage (P&I): −$771
• Tax from tax record: −$72 /mo · $859/yr
• Insurance: −$61
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $210

Break-even live

Break-even rent $1,214

Max offer price $147,000

Occupancy floor 81%

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: $36,750
• Closing costs: $4,410
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
109 Fairground Ave Hagerstown, MD	3.0	1.0	1470	$1,600	$1.09	13d	1	0.04mi
38 Wayside Ave Unit 2 Hagerstown, MD	2.0	1.0	825	$1,150	$1.39	21d	1	0.12mi
804 Oak Hill Ave Unit A Hagerstown, MD	2.0	1.0	1000	$1,695	$1.70	21d	1	0.15mi
715 Oak Hill Ave Unit 2N Hagerstown, MD	2.0	1.0	1500	$1,595	$1.06	44d	1	0.16mi
715 Oak Hill Ave Unit 3N Hagerstown, MD	2.0	1.0	1200	$1,395	$1.16	13d	1	0.16mi
629 Oak Hill Ave Unit 3 Hagerstown, MD	2.0	1.0	1386	$1,595	$1.15	44d	1	0.22mi
441 N Potomac St Hagerstown, MD	2.0	1.0	970	$1,350	$1.39	44d	1	0.30mi
327 N Mulberry St Hagerstown, MD	2.0	1.0	700	$1,030	$1.47	21d	1	0.38mi
307 N Locust St Hagerstown, MD	3.0	1.0	1140	$1,490	$1.31	44d	1	0.40mi
322 N Cannon Ave Hagerstown, MD	3.0	1.5	1488	$1,800	$1.21	13d	1	0.45mi
27 Bethel St Hagerstown, MD	2.0	1.0	954	$950	$1.00	44d	1	0.47mi
62 Bethel St Hagerstown, MD	3.0	1.5	1088	$1,700	$1.56	44d	1	0.49mi
210 N Locust St Hagerstown, MD	3.0	1.0	1476	$1,275	$0.86	21d	1	0.50mi
311 Jefferson St Unit 311 Hagerstown, MD	3.0	1.5	1200	$1,550	$1.29	44d	1	0.50mi
207 N Mulberry St Unit 3 Hagerstown, MD	2.0	1.0	940	$1,130	$1.20	21d	1	0.52mi
115 East Ave Unit 2 Hagerstown, MD	2.0	1.0	1200	$1,400	$1.17	44d	1	0.53mi
235 East Ave Hagerstown, MD	2.0	1.0	1200	$1,200	$1.00	13d	1	0.56mi
115 N Potomac St Unit 2 Hagerstown, MD	2.0	1.0	1200	$1,250	$1.04	21d	1	0.61mi
42 E Franklin St Hagerstown, MD	3.0	1.5	1200	$1,350	$1.12	44d	1	0.61mi
464 Peleton St Hagerstown, MD	3.0	2.0	1253	$2,025	$1.62	13d	1	0.63mi
149 E Franklin St Hagerstown, MD	2.0	1.0	850	$1,250	$1.47	44d	1	0.64mi
60 E Washington St Apt 1E Hagerstown, MD	3.0	1.5	1300	$1,500	$1.15	21d	1	0.71mi
40 E Washington St Unit 2B Hagerstown, MD	2.0	1.0	800	$1,000	$1.25	44d	1	0.72mi
103 E Washington St Unit 1E Hagerstown, MD	3.0	1.0	1200	$1,200	$1.00	13d	1	0.74mi
92 W Washington St Unit 405 Hagerstown, MD	2.0	1.0	1083	$1,650	$1.52	44d	1	0.77mi
92 W Washington St Unit 206 Hagerstown, MD	2.0	2.0	803	$1,450	$1.81	44d	1	0.77mi
92 W Washington St Unit 410 Hagerstown, MD	3.0	1.5	1415	$1,795	$1.27	44d	1	0.77mi
92 W Washington St Unit 403 Hagerstown, MD	2.0	1.5	924	$1,550	$1.68	44d	1	0.77mi
421 Salem Ave Hagerstown, MD	3.0	1.0	1256	$1,550	$1.23	21d	1	0.78mi
50 Rochester Pl Unit 23 Hagerstown, MD	2.0	1.0	900	$1,275	$1.42	44d	1	0.82mi
505 W Church St Unit 1W 1W Hagerstown, MD	2.0	1.0	700	$1,140	$1.63	21d	1	0.85mi
607 Salem Ave Hagerstown, MD	4.0	1.0	1344	$1,775	$1.32	44d	1	0.88mi
616 George St Hagerstown, MD	3.0	1.0	1034	$1,600	$1.55	44d	1	0.96mi
300 Northern Ave Unit 1C Hagerstown, MD	2.0	1.0	875	$1,200	$1.37	44d	1	0.98mi
300 Northern Ave Unit 6A Hagerstown, MD	2.0	1.0	865	$1,200	$1.39	13d	1	0.98mi
300 Northern Ave Unit 1F Hagerstown, MD	2.0	1.0	865	$1,200	$1.39	21d	1	0.99mi
55 Manor Dr Unit 121-101 Hagerstown, MD	2.0	1.0	808	$1,576	$1.95	44d	1	1.04mi
55 Manor Dr Unit 82-103 Hagerstown, MD	3.0	1.0	945	$1,670	$1.77	44d	1	1.04mi
55 Manor Dr Unit 91-202 Hagerstown, MD	2.0	1.0	808	$1,436	$1.78	13d	1	1.04mi
55 Manor Dr Unit 57-203 Hagerstown, MD	2.0	1.0	808	$1,503	$1.86	13d	1	1.04mi

Listing history 33 events

1. 2026-06-17
   days on market $147,000 Active 169 DOM
2. 2026-06-16
   days on market $147,000 Active 168 DOM
3. 2026-06-15
   days on market $147,000 Active 167 DOM
4. 2026-06-14
   days on market $147,000 Active 165 DOM
5. 2026-06-13
   days on market $147,000 Active 164 DOM
6. 2026-06-10
   days on market $147,000 Active 162 DOM
7. 2026-06-09
   days on market $147,000 Active 161 DOM
8. 2026-06-08
   days on market $147,000 Active 160 DOM
9. 2026-06-07
   days on market $147,000 Active 159 DOM
10. 2026-06-03
    days on market $147,000 Active 155 DOM
11. 2026-06-02
    days on market $147,000 Active 154 DOM
12. 2026-06-01
    days on market $147,000 Active 153 DOM
13. 2026-05-31
    days on market $147,000 Active 152 DOM
14. 2026-05-30
    days on market $147,000 Active 151 DOM
15. 2025-12-30
    listed $147,000 Active 336-char remark

    Show marketing remark (336 chars)

    Prime Investment Opportunity with Established Income Streams This professionally managed half duplex home presents an exceptional opportunity for investors seeking stable cash flow. For those looking to expand their portfolio, this property can be acquired as part of a package with two additional fully occupied properties, 2 Duplexes.

16. 2025-06-30
    historical
17. 2025-01-08
    listed $159,500 Active
18. 2024-10-31
    historical
19. 2024-04-27
    listed $159,500 Active
20. 2016-01-20
    soldstatus $37,500
21. 2016-01-15
    historical
22. 2015-12-31
    soldstatus $37,500
23. 2015-12-31
    soldstatus $37,500 Sold
24. 2015-11-20
    status Contingent (No Kick Out)
25. 2015-10-08
    listed $45,000 Active
26. 2015-10-08
    listed $45,000
27. 2015-09-13
    historical Expired
28. 2015-09-13
    historical
29. 2015-05-08
    listed Active
30. 2015-05-08
    listed $69,900
31. 2008-08-29
    historical
32. 2007-12-13
    listed
33. 2000-07-19
    soldstatus $82,000

ⓘ 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: $859 · $72/mo
• Projected year-2 tax: $1,231 · $103/mo
• Expected delta: +$372/yr (+$31/mo · 43.3%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% 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: $17,765
• − Mortgage interest: −$8,234
• − Property taxes: −$859
• − Insurance: −$1,402
• − Repairs & maintenance: −$1,421
• − Management: −$1,421
• − Depreciation: −$4,276
• Taxable income: $152
• Est. tax owed @ 24.0%: −$36
• After-tax cash flow: $2,487/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

+79.3% since first listed

19 events — show timeline

• 2025-12-30 Listed $147,000 BRIGHT MLS
• 2025-06-30 Listing Removed — BRIGHT MLS
• 2025-01-08 Listed $159,500 BRIGHT MLS
• 2024-10-31 Listing Removed — BRIGHT MLS
• 2024-04-27 Listed $159,500 BRIGHT MLS
• 2016-01-20 Sold (Public Records) $37,500 Public Records
• 2016-01-15 Listing Removed — BRIGHT MLS
• 2015-12-31 Sold (MLS) $37,500 MRIS
• 2015-12-31 Sold (MLS) $37,500 BRIGHT MLS
• 2015-11-20 Pending — MRIS
• 2015-10-08 Listed $45,000 MRIS
• 2015-10-08 Listed $45,000 BRIGHT MLS
• 2015-09-13 Listing Removed — BRIGHT MLS
• 2015-09-13 Delisted — MRIS
• 2015-05-08 Listed — MRIS
• 2015-05-08 Listed $69,900 BRIGHT MLS
• 2008-08-29 Delisted — MRIS
• 2007-12-13 Listed — MRIS
• 2000-07-19 Sold (Public Records) $82,000 Public Records

Property tax history

-2.0%/yr

Latest (2025): $859 · +13.8% YoY. Source: county tax records.