114 E Antietam St E · Hagerstown, MD 21740

$185,000

3 bd · 1.5 ba · 1,760 sqft · Townhouse public records · 54 Days on market

Built 1888 2,185 sqft lot $105/sqft · 15% above area Est $160k · 16% 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 +19.4/30.0
• DSCR +6.1/10.0
• 1% rule +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• ARV discount +0.5/15.0
• Appreciation +0.0/10.0

Listing remarks

Back on the market due to buyer unable to purchase . Experience urban living at its finest in this beautifully updated single-family row home, perfectly situated in the heart of Hagerstown’s vibrant Arts & Entertainment District. Located just three blocks from the stadium, this home blends historic charm with modern convenience. The interior has been completely refreshed with a neutral color palette, brand-new carpeting, and stylish LVP flooring throughout. The heart of the home is the stunning, fully renovated kitchen, boasting sleek granite countertops, updated cabinetry, a new stainless steel sink, and fresh paint. A rare find for downtown, this property offers a detached ga

Key facts

• Garage
• Built 1888
• Listed 54 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $185k.

Deal economics

• At list price, monthly cash flow is $206 ($2k/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 $171k (7.7% below list).
• Recommended offer: $171k (7.7% below list) — sets the bar for 1% rule.
• Cap rate 7.6% 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; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 33% 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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 31y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $117k; list at $185k implies a 58% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — 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 $170,708 (7.7% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1888 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.92% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.78%
• DSCR: 1.21
• GRM: 9.0

CMA / ARV

• ARV (median comp): $160,172
• List price: $185,000
• Delta: 15.50%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 E Antietam St	0.04mi	3/1.0	1,702 (-3%)	7mo	$153,000	$90	85
30 S Cannon Ave	0.20mi	3/2.0	1,708 (-3%)	6mo	$17,500	$10	79
228 S Locust	0.20mi	4/2.0 (+1)	1,680 (-4%)	1mo	$130,000	$77	75
22 S Mulberry St S	0.09mi	3/1.0	1,938 (+10%)	11mo	$105,000	$54	68
144 S Mulberry St S	0.13mi	3/1.0	1,538 (-13%)	8mo	$128,000	$83	65
102 E North Ave	0.52mi	3/1.0	1,716 (-2%)	12mo	$169,000	$98	60
716 Largo Dr	0.67mi	3/3.0	1,765 (+0%)	5mo	$345,000	$195	58
300 Radcliffe Ave	0.57mi	3/1.5	1,855 (+5%)	12mo	$265,000	$143	54
415 Reynolds Ave	0.66mi	3/1.5	1,872 (+6%)	11mo	$249,000	$133	49
426 Jefferson St	0.52mi	3/2.0	1,500 (-15%)	10mo	$190,000	$127	41
428 Jefferson St	0.52mi	3/2.0	1,496 (-15%)	10mo	$125,000	$84	40
535 N Locust St	0.68mi	4/2.5 (+1)	1,516 (-14%)	14mo	$135,000	$89	24

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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-15,157
• Equity at exit: $27,584

10-year hold

• IRR: 2.8%
• Equity multiple: 1.21×
• Total profit: $10,756
• Equity at exit: $15,995

Cash invested: $51,800 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$970
• Tax from tax record: −$95 /mo · $1,140/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $206

Break-even live

Break-even rent $1,446

Max offer price $185,000

Occupancy floor 83%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
60 E Washington St Apt 1E Hagerstown, MD	3.0	1.5	1300	$1,500	$1.15	21d	1	0.15mi
338 S Locust St Hagerstown, MD	3.0	1.5	1320	$1,600	$1.21	21d	1	0.32mi
326 S Potomac St #2 Hagerstown, MD	2.0	1.0	1350	$1,500	$1.11	43d	1	0.32mi
210 N Locust St Hagerstown, MD	3.0	1.0	1476	$1,275	$0.86	21d	1	0.35mi
313 Frederick St Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	43d	1	0.35mi
313 Frederick St Unit 313 Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	43d	1	0.35mi
92 W Washington St Unit 410 Hagerstown, MD	3.0	1.5	1415	$1,795	$1.27	43d	1	0.37mi
16 East Ave Hagerstown, MD	4.0	1.0	2088	$1,425	$0.68	43d	1	0.38mi
414 S Potomac St Hagerstown, MD	4.0	2.0	2564	$1,495	$0.58	21d	1	0.40mi
322 N Cannon Ave Hagerstown, MD	3.0	1.5	1488	$1,800	$1.21	13d	1	0.45mi
323 N Potomac St Unit 3 Hagerstown, MD	3.0	2.0	2200	$1,655	$0.75	21d	1	0.52mi
323 N Potomac St Unit 2 Hagerstown, MD	2.0	1.0	1700	$1,380	$0.81	21d	1	0.52mi
323 N Potomac St #1 Hagerstown, MD	2.0	2.0	1800	$1,505	$0.84	21d	1	0.52mi
612 Frederick St Hagerstown, MD	4.0	2.0	1422	$1,875	$1.32	21d	1	0.61mi
440 Jonathan St Unit A Hagerstown, MD	2.0	1.0	2244	$1,000	$0.45	43d	1	0.71mi
72 Wayside Ave Hagerstown, MD	2.0	2.0	2388	$1,485	$0.62	21d	1	0.74mi
421 Salem Ave Hagerstown, MD	3.0	1.0	1256	$1,550	$1.23	21d	1	0.75mi
629 Oak Hill Ave Unit 3 Hagerstown, MD	2.0	1.0	1386	$1,595	$1.15	43d	1	0.80mi
109 Fairground Ave Hagerstown, MD	3.0	1.0	1470	$1,600	$1.09	13d	1	0.82mi
625 George St Hagerstown, MD	2.0	1.0	1856	$1,400	$0.75	13d	1	0.90mi
715 Oak Hill Ave Unit 2N Hagerstown, MD	2.0	1.0	1500	$1,595	$1.06	43d	1	0.92mi
464 Peleton St Hagerstown, MD	3.0	2.0	1253	$2,025	$1.62	13d	1	0.93mi
805 Mulberry Ave Hagerstown, MD	3.0	1.5	1584	$1,830	$1.16	43d	1	0.93mi
607 Salem Ave Hagerstown, MD	4.0	1.0	1344	$1,775	$1.32	43d	1	0.96mi
828 Hamilton Blvd Unit B Hagerstown, MD	2.0	1.0	1512	$1,495	$0.99	43d	1	1.01mi
909 Corbett St Hagerstown, MD	3.0	2.5	1276	$2,695	$2.11	13d	1	1.05mi
837 Virginia Ave Hagerstown, MD	3.0	2.0	1400	$2,000	$1.43	13d	1	1.11mi
39 W Wilson Blvd Hagerstown, MD	3.0	2.0	1440	$1,730	$1.20	21d	1	1.18mi
409 Gandy Dancer Ct Unit 409 Hagerstown, MD	4.0	3.5	2112	$2,350	$1.11	43d	1	1.41mi
409 Gandy Dancer Ct Hagerstown, MD	4.0	3.5	2112	$2,350	$1.11	21d	1	1.41mi
1165 Hamilton Blvd Hagerstown, MD	2.0	2.5	1683	$800	$0.48	43d	1	1.43mi

Listing history 43 events

1. 2026-06-18
   days on market $185,000 Active 54 DOM
2. 2026-06-17
   days on market $185,000 Active 53 DOM
3. 2026-06-16
   days on market $185,000 Active 52 DOM
4. 2026-06-15
   days on market $185,000 Active 51 DOM
5. 2026-06-14
   days on market $185,000 Active 49 DOM
6. 2026-06-13
   days on market $185,000 Active 48 DOM
7. 2026-06-10
   days on market $185,000 Active 46 DOM
8. 2026-06-09
   days on market $185,000 Active 45 DOM
9. 2026-06-08
   days on market $185,000 Active 44 DOM
10. 2026-06-07
    days on market $185,000 Active 43 DOM
11. 2026-06-03
    days on market $185,000 Active 39 DOM
12. 2026-06-02
    days on market $185,000 Active 38 DOM
13. 2026-06-01
    days on market $185,000 Active 37 DOM
14. 2026-05-31
    days on market $185,000 Active 36 DOM
15. 2026-05-30
    days on market $185,000 Active 35 DOM
16. 2026-05-11
    historical Active Under Contract
17. 2026-04-26
    price $185,000
18. 2026-04-17
    listed $199,000 Active
19. 2015-08-17
    historical
20. 2015-08-17
    historical
21. 2015-05-29
    price
22. 2015-05-02
    price
23. 2015-03-20
    status Active
24. 2015-03-20
    historical Expired
25. 2014-12-01
    price
26. 2014-09-26
    listed Active
27. 2014-09-25
    listed $89,999
28. 2007-01-10
    soldstatus $117,000
29. 2007-01-10
    soldstatus $117,000
30. 2006-12-18
    soldstatus $117,000
31. 2006-11-08
    historical
32. 2006-08-29
    listed $129,000
33. 2005-05-17
    soldstatus $105,000
34. 2005-05-09
    soldstatus $105,000
35. 2005-03-09
    historical
36. 2005-03-07
    listed $105,000
37. 1999-05-21
    soldstatus $29,900
38. 1999-05-14
    soldstatus $29,900
39. 1999-02-10
    historical
40. 1998-07-08
    listed $29,900
41. 1996-12-31
    historical
42. 1995-12-11
    listed
43. 1994-11-16
    soldstatus $22,000

ⓘ 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: $1,140 · $95/mo
• Projected year-2 tax: $1,578 · $132/mo
• Expected delta: +$438/yr (+$37/mo · 38.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2% 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: $20,485
• − Mortgage interest: −$10,363
• − Property taxes: −$1,140
• − Insurance: −$925
• − Repairs & maintenance: −$1,639
• − Management: −$1,639
• − Depreciation: −$5,382
• Taxable loss: −$602
• Est. tax savings @ 24.0%: +$144
• After-tax cash flow: $2,621/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

+740.9% since first listed

28 events — show timeline

• 2026-05-11 Contingent — BRIGHT MLS
• 2026-04-26 Price Changed $185,000 BRIGHT MLS
• 2026-04-17 Listed $199,000 BRIGHT MLS
• 2015-08-17 Delisted — MRIS
• 2015-08-17 Listing Removed — BRIGHT MLS
• 2015-05-29 Price Changed — MRIS
• 2015-05-02 Price Changed — MRIS
• 2015-03-20 Relisted — MRIS
• 2015-03-20 Delisted — MRIS
• 2014-12-01 Price Changed — MRIS
• 2014-09-26 Listed — MRIS
• 2014-09-25 Listed $89,999 BRIGHT MLS
• 2007-01-10 Sold (Public Records) $117,000 Public Records
• 2007-01-10 Sold (Public Records) $117,000 Public Records
• 2006-12-18 Sold (MLS) $117,000 MRIS
• 2006-11-08 Delisted — MRIS
• 2006-08-29 Listed $129,000 MRIS
• 2005-05-17 Sold (Public Records) $105,000 Public Records
• 2005-05-09 Sold (MLS) $105,000 MRIS
• 2005-03-09 Delisted — MRIS
• 2005-03-07 Listed $105,000 MRIS
• 1999-05-21 Sold (Public Records) $29,900 Public Records
• 1999-05-14 Sold (MLS) $29,900 MRIS
• 1999-02-10 Delisted — MRIS
• 1998-07-08 Listed $29,900 MRIS
• 1996-12-31 Delisted — MRIS
• 1995-12-11 Listed — MRIS
• 1994-11-16 Sold (Public Records) $22,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $1,140 · +14.7% YoY. Source: county tax records.