1204 Virginia Ave · Halfway, MD 21740

$259,000

4 bd · 2.0 ba · 1,558 sqft · SingleFamily public records · 15 Days on market

Built 1953 0.28 ac lot $166/sqft · 29% below area Est $364k · 29% under ↓ 7% since listing

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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 +15.7/30.0
• ARV discount +15.0/15.0
• DSCR +4.8/10.0
• 1% rule +3.6/10.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks

NICE BRICK ENGLISH COTTAGE STYLE HOME IN HAGERSTOWN, MD! This charming home has remained in the same family since it was built! The home features 4 bedrooms, 2 full bathrooms, a living room with fireplace, kitchen, and a full basement. Hardwood floors extend throughout the home! Outside, enjoy convenient driveway access from Virginia Ave, as well as additional access from the rear alley to a spacious driveway with room for multiple vehicles. There is also a detached 2-car garage. Both the house roof and garage roof were replaced in 2016! Excellent location just minutes from I-81, I-70, shopping, recreation, and more! With some modifications, the property also offers duplex potential. Come m

Key facts

• 0.28 acre lot
• 2 garage spots
• Built 1953

Property features AI

Exterior

• Parking: Detached 2-car garage with additional storage area; Covered parking; Paved driveway
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Detached property; Year built per assessor (year source available)
• Construction: Brick construction; Block foundation
• Exterior features: Detached structure; Above-grade and below-grade structures noted; No tidal water

Interior

• Kitchen: Kitchen (appliances not specified)
• Bedrooms: Two main-level bedrooms; Two upper-level bedrooms
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Forced air heating (oil fuel); Central air conditioning (electric)
• Interior features: Full, unfinished basement; One fireplace
• Laundry & utility: Finished and unfinished below-grade space (basement utility potential)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/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 $222k (14.3% below list).
• Recommended offer: $222k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 4.8% in Halfway — 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 66/100 on livability (#225 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment A-; Watch: schools C-, crime F, amenities 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).
• This rent runs 42% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 15 days — a 2% lower offer ($255k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — 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 $222,073 (14.3% below list)

Questions for the listing agent

1. Built in 1953 — 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. 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.
5. 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.
6. 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: 0.86% ✗
• Cap rate: 6.83%
• Cash-on-cash: 1.90%
• DSCR: 1.08
• GRM: 9.7

CMA / ARV

• ARV (median comp): $363,973
• List price: $259,000
• Delta: -28.84%
• 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
645 Armstrong Ave	0.15mi	4/2.0	1,698 (+9%)	1mo	$385,990	$227	77
17832 Virginia Ave	0.32mi	3/1.5 (-1)	1,540 (-1%)	2mo	$275,000	$179	75
652 Armstrong Ave	0.18mi	4/2.0	1,698 (+9%)	4mo	$413,990	$244	73
672 Armstrong Ave	0.11mi	4/2.0	1,698 (+9%)	9mo	$424,990	$250	72
1110 Moller Ave	0.13mi	3/3.0 (-1)	1,466 (-6%)	8mo	$280,000	$191	69
11525 Englewood Rd	0.57mi	4/2.0	1,608 (+3%)	6mo	$323,000	$201	63
11461 Englewood Rd	0.51mi	4/2.0	1,634 (+5%)	10mo	$270,000	$165	60
11540 Englewood Rd	0.63mi	3/1.0 (-1)	1,573 (+1%)	6mo	$275,000	$175	55
712 Sunset Ave	0.72mi	3/1.0 (-1)	1,614 (+4%)	4mo	$228,000	$141	48
11516 Dellwyn Dr	0.63mi	4/1.5	1,763 (+13%)	10mo	$349,233	$198	39
324 W Howard St	0.73mi	3/2.5 (-1)	1,342 (-14%)	5mo	$300,000	$224	32
11115 Glenside Ave	0.73mi	3/1.0 (-1)	1,401 (-10%)	10mo	$255,000	$182	31

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: -12.3%
• Equity multiple: 0.55×
• Total profit: $-32,442
• Equity at exit: $38,618

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-9,601
• Equity at exit: $22,394

Cash invested: $72,520 (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: 9.7×

Monthly cashflow live

• Estimated rent: $2,221 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$173 /mo · $2,078/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$466
• Net cashflow: $115

Break-even live

Break-even rent $2,075

Max offer price $259,000

Occupancy floor 90%

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
672 Armstrong Ave Hagerstown, MD	4.0	2.0	1698	$2,680	$1.58	20d	1	0.12mi
1527 Sherman Ave Unit 2 Hagerstown, MD	3.0	2.5	1496	$2,100	$1.40	20d	1	0.37mi
1529 Sherman Ave Unit 1 Hagerstown, MD	3.0	2.5	1496	$2,100	$1.40	20d	1	0.37mi
837 Virginia Ave Hagerstown, MD	3.0	2.0	1400	$2,000	$1.43	13d	1	0.54mi
39 W Wilson Blvd Hagerstown, MD	3.0	2.0	1440	$1,730	$1.20	20d	1	0.72mi
17940 Garden Ln Hagerstown, MD	1.0–3.0	1.0–2.0	1020	$1,706	$1.67	13d	19	0.86mi
909 Corbett St Hagerstown, MD	3.0	2.5	1276	$2,695	$2.11	13d	1	0.97mi
10924 Gaywood Dr Hagerstown, MD	3.0	1.0	1100	$2,000	$1.82	20d	1	1.08mi
409 Gandy Dancer Ct Hagerstown, MD	4.0	3.5	2112	$2,350	$1.11	20d	1	1.29mi
409 Gandy Dancer Ct Unit 409 Hagerstown, MD	4.0	3.5	2112	$2,350	$1.11	43d	1	1.29mi
338 S Locust St Hagerstown, MD	3.0	1.5	1320	$1,600	$1.21	20d	1	1.34mi
612 Frederick St Hagerstown, MD	4.0	2.0	1422	$1,875	$1.32	20d	1	1.49mi
313 Frederick St Unit 313 Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	43d	1	1.49mi
313 Frederick St Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	43d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $259,000 Active 15 DOM
2. 2026-06-17
   days on market $259,000 Active 14 DOM
3. 2026-06-16
   days on market $259,000 Active 13 DOM
4. 2026-06-15
   price $259,000 Active 12 DOM
5. 2026-06-15
   days on market $279,000 Active 12 DOM
6. 2026-06-14
   days on market $279,000 Active 10 DOM
7. 2026-06-13
   days on market $279,000 Active 9 DOM
8. 2026-06-10
   days on market $279,000 Active 7 DOM
9. 2026-06-09
   days on market $279,000 Active 6 DOM
10. 2026-06-08
    days on market $279,000 Active 5 DOM
11. 2026-06-07
    statusdays on market $279,000 Active 4 DOM
12. 2026-06-03
    days on market $279,000 Coming Soon 26 DOM
13. 2026-06-02
    days on market $279,000 Coming Soon 25 DOM
14. 2026-06-01
    days on market $279,000 Coming Soon 24 DOM
15. 2026-05-31
    days on market $279,000 Coming Soon 23 DOM
16. 2026-05-30
    days on market $279,000 Coming Soon 22 DOM
17. 2026-05-08
    historical $279,000 877-char remark

ⓘ 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: $2,078 · $173/mo
• Projected year-2 tax: $2,451 · $204/mo
• Expected delta: +$373/yr (+$31/mo · 17.9%)

ⓘ 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 3% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,649
• − Mortgage interest: −$14,508
• − Property taxes: −$2,078
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,132
• − Management: −$2,132
• − Depreciation: −$7,535
• Taxable loss: −$3,030
• Est. tax savings @ 24.0%: +$727
• After-tax cash flow: $2,108/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 — Halfway

• Score: 66/100
• State rank: #225
• US rank: #11296

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Halfway, MD
• County: Washington County · 98,861 people
• 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

-7.2% since first listed

3 events — show timeline

• 2026-06-15 Price Changed $259,000 BRIGHT MLS
• 2026-06-04 Listed $279,000 BRIGHT MLS
• 2026-05-08 Coming Soon $279,000 BRIGHT MLS

Property tax history

+1.2%/yr

Latest (2025): $2,078 · +8.6% YoY. Source: county tax records.