904 Kuhn Ave · Hagerstown, MD 21740

$243,000

3 bd · 2.0 ba · 2,360 sqft · SingleFamily public records · 109 Days on market

Built 1942 7,500 sqft lot $103/sqft · 20% below area Est $303k · 20% under

---

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 +18.8/30.0
• ARV discount +15.0/15.0
• DSCR +5.9/10.0
• 1% rule +4.3/10.0
• 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

Back on the market due to buyer’s failed financing — their loss could be your opportunity! This 3-bedroom, 2-bath Cape Cod offers endless potential for the right buyer willing to add a little TLC and personal touch. Featuring two kitchens, this home provides unique flexibility for extended living arrangements, entertaining, or investment possibilities. Whether you’re searching for the perfect starter home to make your own or looking for your next investment property, this home is full of opportunity and priced accordingly to reflect needed updates. Property is being sold strictly AS-IS. For transparency and convenience, a home inspection PDF is available for interested parties.

Key facts

• 7,500 sq ft lot
• Built 1942
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $243k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/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 $227k (6.6% below list).
• Recommended offer: $221k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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; 6 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).
• This rent runs 43% 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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 9y ago; this cycle's ask has dropped $22k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $144k; list at $243k implies a 69% 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→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,130 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 7.50%
• Cash-on-cash: 4.33%
• DSCR: 1.19
• GRM: 8.9

CMA / ARV

• ARV (median comp): $303,161
• List price: $243,000
• Delta: -19.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 Rose Hill Ave	0.10mi	4/2.0 (+1)	2,302 (-2%)	20mo	$280,000	$122	70
800 Corbett St	0.17mi	3/2.0	2,142 (-9%)	8mo	$305,000	$142	70
1217 South Pointe Dr	0.50mi	3/2.5	2,284 (-3%)	1mo	$405,000	$177	68
933 Kenwood Dr	0.24mi	3/2.5	2,712 (+15%)	3mo	$344,500	$127	59
707 Summit Ave	0.71mi	4/1.5 (+1)	2,072 (-12%)	2mo	$300,000	$145	38
1012 S Potomac St	0.35mi	4/2.0 (+1)	2,008 (-15%)	20mo	$265,000	$132	37
123 Plantation Dr	0.64mi	3/2.5	2,690 (+14%)	14mo	$374,900	$139	33
903 Chestnut St	0.56mi	3/2.5	2,064 (-12%)	23mo	$300,000	$145	32
532 Summit Ave	0.74mi	4/2.0 (+1)	2,128 (-10%)	18mo	$205,000	$96	29

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: -8.5%
• Equity multiple: 0.68×
• Total profit: $-21,487
• Equity at exit: $36,232

10-year hold

• IRR: 2.2%
• Equity multiple: 1.16×
• Total profit: $10,883
• Equity at exit: $21,010

Cash invested: $68,040 (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: 8.9×

Monthly cashflow live

• Estimated rent: $2,269 medium
• Mortgage (P&I): −$1,274
• Tax from tax record: −$172 /mo · $2,061/yr
• Insurance: −$101
• HOA: −$0
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $245

Break-even live

Break-even rent $1,959

Max offer price $243,000

Occupancy floor 84%

Sensitivity live

Price	-10% $383	-5% $314	+0% $245	+5% $177	+10% $108
Rent	-10% $66	-5% $156	+0% $245	+5% $335	+10% $425
Rate	-1.0pp $368	-0.5pp $307	base $245	+0.5pp $182	+1.0pp $118

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: $60,750
• Closing costs: $7,290
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
414 S Potomac St Hagerstown, MD	4.0	2.0	2564	$1,495	$0.58	22d	1	0.72mi
313 Frederick St Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	44d	1	0.72mi
313 Frederick St Unit 313 Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	44d	1	0.72mi
672 Armstrong Ave Hagerstown, MD	4.0	2.0	1698	$2,680	$1.58	22d	1	1.17mi
16 East Ave Hagerstown, MD	4.0	1.0	2088	$1,425	$0.68	44d	1	1.43mi
227 N Locust St Hagerstown, MD	3.0	1.0	3000	$1,600	$0.53	14d	1	1.44mi

Listing history 34 events

1. 2026-06-18
   days on market $243,000 Active 109 DOM
2. 2026-06-17
   days on market $243,000 Active 108 DOM
3. 2026-06-16
   days on market $243,000 Active 107 DOM
4. 2026-06-15
   days on market $243,000 Active 106 DOM
5. 2026-06-14
   days on market $243,000 Active 104 DOM
6. 2026-06-13
   days on market $243,000 Active 103 DOM
7. 2026-06-10
   days on market $243,000 Active 101 DOM
8. 2026-06-09
   days on market $243,000 Active 100 DOM
9. 2026-06-08
   days on market $243,000 Active 99 DOM
10. 2026-06-07
    days on market $243,000 Active 98 DOM
11. 2026-06-03
    days on market $243,000 Active 94 DOM
12. 2026-06-02
    days on market $243,000 Active 93 DOM
13. 2026-06-01
    days on market $243,000 Active 92 DOM
14. 2026-05-31
    days on market $243,000 Active 91 DOM
15. 2026-05-30
    days on market $243,000 Active 90 DOM
16. 2026-05-15
    price $243,000 704-char remark

    Show marketing remark (704 chars)

    Back on the market due to buyer’s failed financing — their loss could be your opportunity! This 3-bedroom, 2-bath Cape Cod offers endless potential for the right buyer willing to add a little TLC and personal touch. Featuring two kitchens, this home provides unique flexibility for extended living arrangements, entertaining, or investment possibilities. Whether you’re searching for the perfect starter home to make your own or looking for your next investment property, this home is full of opportunity and priced accordingly to reflect needed updates. Property is being sold strictly AS-IS. For transparency and convenience, a home inspection PDF is available for interested parties.

17. 2026-05-15
    status Active 704-char remark

    Show marketing remark (704 chars)

    Back on the market due to buyer’s failed financing — their loss could be your opportunity! This 3-bedroom, 2-bath Cape Cod offers endless potential for the right buyer willing to add a little TLC and personal touch. Featuring two kitchens, this home provides unique flexibility for extended living arrangements, entertaining, or investment possibilities. Whether you’re searching for the perfect starter home to make your own or looking for your next investment property, this home is full of opportunity and priced accordingly to reflect needed updates. Property is being sold strictly AS-IS. For transparency and convenience, a home inspection PDF is available for interested parties.

18. 2026-04-14
    status Pending 704-char remark

    Show marketing remark (704 chars)

    Back on the market due to buyer’s failed financing — their loss could be your opportunity! This 3-bedroom, 2-bath Cape Cod offers endless potential for the right buyer willing to add a little TLC and personal touch. Featuring two kitchens, this home provides unique flexibility for extended living arrangements, entertaining, or investment possibilities. Whether you’re searching for the perfect starter home to make your own or looking for your next investment property, this home is full of opportunity and priced accordingly to reflect needed updates. Property is being sold strictly AS-IS. For transparency and convenience, a home inspection PDF is available for interested parties.

19. 2026-04-14
    historical 704-char remark

    Show marketing remark (704 chars)

    Back on the market due to buyer’s failed financing — their loss could be your opportunity! This 3-bedroom, 2-bath Cape Cod offers endless potential for the right buyer willing to add a little TLC and personal touch. Featuring two kitchens, this home provides unique flexibility for extended living arrangements, entertaining, or investment possibilities. Whether you’re searching for the perfect starter home to make your own or looking for your next investment property, this home is full of opportunity and priced accordingly to reflect needed updates. Property is being sold strictly AS-IS. For transparency and convenience, a home inspection PDF is available for interested parties.

20. 2026-02-23
    price $255,000 704-char remark

    Show marketing remark (704 chars)

    Back on the market due to buyer’s failed financing — their loss could be your opportunity! This 3-bedroom, 2-bath Cape Cod offers endless potential for the right buyer willing to add a little TLC and personal touch. Featuring two kitchens, this home provides unique flexibility for extended living arrangements, entertaining, or investment possibilities. Whether you’re searching for the perfect starter home to make your own or looking for your next investment property, this home is full of opportunity and priced accordingly to reflect needed updates. Property is being sold strictly AS-IS. For transparency and convenience, a home inspection PDF is available for interested parties.

21. 2026-01-30
    listed $265,000 Active 704-char remark

    Show marketing remark (704 chars)

    Back on the market due to buyer’s failed financing — their loss could be your opportunity! This 3-bedroom, 2-bath Cape Cod offers endless potential for the right buyer willing to add a little TLC and personal touch. Featuring two kitchens, this home provides unique flexibility for extended living arrangements, entertaining, or investment possibilities. Whether you’re searching for the perfect starter home to make your own or looking for your next investment property, this home is full of opportunity and priced accordingly to reflect needed updates. Property is being sold strictly AS-IS. For transparency and convenience, a home inspection PDF is available for interested parties.

22. 2026-01-15
    historical $265,000 704-char remark

    Show marketing remark (704 chars)

    Back on the market due to buyer’s failed financing — their loss could be your opportunity! This 3-bedroom, 2-bath Cape Cod offers endless potential for the right buyer willing to add a little TLC and personal touch. Featuring two kitchens, this home provides unique flexibility for extended living arrangements, entertaining, or investment possibilities. Whether you’re searching for the perfect starter home to make your own or looking for your next investment property, this home is full of opportunity and priced accordingly to reflect needed updates. Property is being sold strictly AS-IS. For transparency and convenience, a home inspection PDF is available for interested parties.

23. 2025-09-04
    historical
24. 2025-07-25
    listed $289,900 Active
25. 2025-07-15
    historical
26. 2025-05-08
    price $312,000
27. 2025-02-12
    listed $350,000 Active
28. 2017-10-27
    listed Active Under Contract
29. 2017-10-03
    soldstatus $144,000
30. 2017-09-29
    soldstatus $144,000 Closed
31. 2017-09-29
    soldstatus $144,000 Sold
32. 2017-08-15
    status Contingent (No Kick Out)
33. 2017-07-12
    price $147,000
34. 2017-03-01
    listed $149,900 Active

ⓘ 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: $2,061 · $172/mo
• Projected year-2 tax: $2,355 · $196/mo
• Expected delta: +$294/yr (+$25/mo · 14.3%)

ⓘ 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 · 17 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: $27,231
• − Mortgage interest: −$13,612
• − Property taxes: −$2,061
• − Insurance: −$1,215
• − Repairs & maintenance: −$2,178
• − Management: −$2,178
• − Depreciation: −$7,069
• Taxable loss: −$1,082
• Est. tax savings @ 24.0%: +$260
• After-tax cash flow: $3,205/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

+62.1% since first listed

19 events — show timeline

• 2026-05-15 Price Changed $243,000 BRIGHT MLS
• 2026-05-15 Relisted — BRIGHT MLS
• 2026-04-14 Pending — BRIGHT MLS
• 2026-04-14 Listing Removed — BRIGHT MLS
• 2026-02-23 Price Changed $255,000 BRIGHT MLS
• 2026-01-30 Listed $265,000 BRIGHT MLS
• 2026-01-15 Coming Soon $265,000 BRIGHT MLS
• 2025-09-04 Listing Removed — BRIGHT MLS
• 2025-07-25 Listed $289,900 BRIGHT MLS
• 2025-07-15 Listing Removed — BRIGHT MLS
• 2025-05-08 Price Changed $312,000 BRIGHT MLS
• 2025-02-12 Listed $350,000 BRIGHT MLS
• 2017-10-27 Listed — BRIGHT MLS
• 2017-10-03 Sold (Public Records) $144,000 Public Records
• 2017-09-29 Sold (MLS) $144,000 MRIS
• 2017-09-29 Sold (MLS) $144,000 BRIGHT MLS
• 2017-08-15 Pending — MRIS
• 2017-07-12 Price Changed $147,000 MRIS
• 2017-03-01 Listed $149,900 MRIS

Property tax history

-1.0%/yr

Latest (2025): $2,061 · +8.9% YoY. Source: county tax records.