914 Salem Ave · Hagerstown, MD 21740

$169,000

3 bd · 1.0 ba · 1,114 sqft · Townhouse public records · 34 Days on market

Built 1903 2,170 sqft lot $152/sqft · 11% above area Est $153k · 11% 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 +18.4/30.0
• DSCR +5.8/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +3.5/5.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Bank owned duplex with 3 bed, 1 full bath. Sold in AS IS condition. Fannie Mae does not split transfer taxes. Buyer to pay for de-winterization of the house. All offers please have pre-qual letter/verification of funds and copy of EMD check.

Key facts

• Built 1903
• Listed 34 days

Property features AI

Exterior

• Parking: Off-site parking
• Utilities: Public water; Public sewer; Cable TV available
• Home design: Semi-detached structure; Main entrance faces south
• Construction: Vinyl siding; Stone foundation; Shingle roof; Estimated year built
• Exterior features: Rear fencing; Deck(s), porch(es), and balcony

Interior

• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: Electric baseboard heating; Ceiling fans for cooling; Electric hot water
• Interior features: Estimated living area; Basement with connecting stairway (unfinished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $169k.

Deal economics

• At list price, monthly cash flow is $158 ($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 $151k (10.8% below list).
• Recommended offer: $151k (10.8% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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: 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 (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 45d 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 28y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $65k; list at $169k implies a 160% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1903 — 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 $150,696 (10.8% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1903 — 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: 0.89% ✗
• Cap rate: 7.42%
• Cash-on-cash: 4.02%
• DSCR: 1.18
• GRM: 9.3

CMA / ARV

• ARV (median comp): $152,679
• List price: $169,000
• Delta: 10.69%
• 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
225 Alexander St	0.17mi	3/1.5	1,056 (-5%)	2mo	$177,500	$168	80
813 Dale St	0.42mi	3/1.0	1,064 (-4%)	2mo	$110,000	$103	71
428 Cook St	0.43mi	2/1.0 (-1)	1,104 (-1%)	3mo	$65,000	$59	71
121 Winter St	0.30mi	2/1.0 (-1)	1,170 (+5%)	2mo	$120,000	$103	70
9 Berner Ave	0.45mi	3/1.0	1,056 (-5%)	2mo	$111,000	$105	69
34 High St	0.49mi	3/1.5	1,104 (-1%)	6mo	$181,000	$164	68
62 Elizabeth St	0.61mi	3/1.0	1,100 (-1%)	5mo	$155,000	$141	65
931 W Irvin Ave	0.61mi	2/1.5 (-1)	1,102 (-1%)	2mo	$219,900	$200	60
972 W Irvin Ave W	0.63mi	2/2.0 (-1)	1,100 (-1%)	4mo	$249,000	$226	56
1030 Benjamin Pl	0.67mi	2/1.5 (-1)	1,102 (-1%)	6mo	$235,000	$213	55
44 Madison Ave	0.58mi	2/1.5 (-1)	1,276 (+14%)	2mo	$149,900	$117	40
18 Belview Ave	0.71mi	2/1.0 (-1)	1,230 (+10%)	7mo	$174,900	$142	39

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: -9.0%
• Equity multiple: 0.67×
• Total profit: $-15,828
• Equity at exit: $25,198

10-year hold

• IRR: 1.5%
• Equity multiple: 1.11×
• Total profit: $5,371
• Equity at exit: $14,612

Cash invested: $47,320 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,507 high
• Mortgage (P&I): −$886
• Tax from tax record: −$75 /mo · $906/yr
• Insurance: −$70
• HOA: −$0
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $158

Break-even live

Break-even rent $1,306

Max offer price $169,000

Occupancy floor 84%

Sensitivity live

Price	-10% $254	-5% $206	+0% $158	+5% $111	+10% $63
Rent	-10% $39	-5% $99	+0% $158	+5% $218	+10% $277
Rate	-1.0pp $243	-0.5pp $201	base $158	+0.5pp $115	+1.0pp $70

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: $42,250
• Closing costs: $5,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
607 Salem Ave Hagerstown, MD	4.0	1.0	1344	$1,775	$1.32	44d	1	0.26mi
616 George St Hagerstown, MD	3.0	1.0	1034	$1,600	$1.55	44d	1	0.36mi
505 W Church St Unit 1W 1W Hagerstown, MD	2.0	1.0	700	$1,140	$1.63	21d	1	0.41mi
464 Peleton St Hagerstown, MD	3.0	2.0	1253	$2,025	$1.62	14d	1	0.42mi
821 Washington Ave Unit 1W Hagerstown, MD	2.0	1.0	800	$1,100	$1.38	21d	1	0.42mi
812 Dale St Hagerstown, MD	3.0	1.0	1064	$1,730	$1.63	44d	1	0.44mi
421 Salem Ave Hagerstown, MD	3.0	1.0	1256	$1,550	$1.23	21d	1	0.46mi
310 Key Ave Unit B Hagerstown, MD	3.0	1.0	800	$1,300	$1.62	14d	1	0.49mi
834 W Washington St Unit 2 Hagerstown, MD	2.0	1.0	950	$955	$1.01	44d	1	0.55mi
104 Buena Vista Ave Unit 104 Hagerstown, MD	3.0	1.0	1100	$1,400	$1.27	44d	1	0.71mi
62 Bethel St Hagerstown, MD	3.0	1.5	1088	$1,700	$1.56	44d	1	0.76mi
27 Bethel St Hagerstown, MD	2.0	1.0	954	$950	$1.00	44d	1	0.82mi
441 N Potomac St Hagerstown, MD	2.0	1.0	970	$1,350	$1.39	44d	1	0.83mi
629 Oak Hill Ave Unit 3 Hagerstown, MD	2.0	1.0	1386	$1,595	$1.15	44d	1	0.83mi
92 W Washington St Unit 405 Hagerstown, MD	2.0	1.0	1083	$1,650	$1.52	44d	1	0.85mi
92 W Washington St Unit 403 Hagerstown, MD	2.0	1.5	924	$1,550	$1.68	44d	1	0.85mi
92 W Washington St Unit 206 Hagerstown, MD	2.0	2.0	803	$1,450	$1.81	44d	1	0.85mi
92 W Washington St Unit 410 Hagerstown, MD	3.0	1.5	1415	$1,795	$1.27	44d	1	0.85mi
715 Oak Hill Ave Unit 2N Hagerstown, MD	2.0	1.0	1500	$1,595	$1.06	44d	1	0.91mi
715 Oak Hill Ave Unit 3N Hagerstown, MD	2.0	1.0	1200	$1,395	$1.16	14d	1	0.91mi
115 N Potomac St Unit 2 Hagerstown, MD	2.0	1.0	1200	$1,250	$1.04	21d	1	0.91mi
38 Wayside Ave Unit 2 Hagerstown, MD	2.0	1.0	825	$1,150	$1.39	21d	1	0.97mi
804 Oak Hill Ave Unit A Hagerstown, MD	2.0	1.0	1000	$1,695	$1.70	21d	1	0.97mi
50 Rochester Pl Unit 23 Hagerstown, MD	2.0	1.0	900	$1,275	$1.42	44d	1	1.00mi
42 E Franklin St Hagerstown, MD	3.0	1.5	1200	$1,350	$1.12	44d	1	1.02mi
307 N Locust St Hagerstown, MD	3.0	1.0	1140	$1,490	$1.31	44d	1	1.02mi
210 N Locust St Hagerstown, MD	3.0	1.0	1476	$1,275	$0.86	21d	1	1.05mi
40 E Washington St Unit 2B Hagerstown, MD	2.0	1.0	800	$1,000	$1.25	44d	1	1.05mi
115 East Ave Unit 2 Hagerstown, MD	2.0	1.0	1200	$1,400	$1.17	44d	1	1.08mi
109 Fairground Ave Hagerstown, MD	3.0	1.0	1470	$1,600	$1.09	14d	1	1.08mi
60 E Washington St Apt 1E Hagerstown, MD	3.0	1.5	1300	$1,500	$1.15	21d	1	1.09mi
327 N Mulberry St Hagerstown, MD	2.0	1.0	700	$1,030	$1.47	21d	1	1.12mi
1401 Haven Rd Hagerstown, MD	1.0–3.0	1.0–1.5	925	$1,999	$2.16	14d	11	1.12mi
103 E Washington St Unit 1E Hagerstown, MD	3.0	1.0	1200	$1,200	$1.00	14d	1	1.13mi
207 N Mulberry St Unit 3 Hagerstown, MD	2.0	1.0	940	$1,130	$1.20	21d	1	1.14mi
149 E Franklin St Hagerstown, MD	2.0	1.0	850	$1,250	$1.47	44d	1	1.17mi
18303 Buckeye Cir Hagerstown, MD	2.0	2.0	1236	$1,925	$1.56	14d	1	1.18mi
322 N Cannon Ave Hagerstown, MD	3.0	1.5	1488	$1,800	$1.21	14d	1	1.21mi
235 East Ave Hagerstown, MD	2.0	1.0	1200	$1,200	$1.00	14d	1	1.21mi
311 Jefferson St Unit 311 Hagerstown, MD	3.0	1.5	1200	$1,550	$1.29	44d	1	1.23mi

Listing history 42 events

1. 2026-06-18
   days on market $169,000 Active 34 DOM
2. 2026-06-17
   days on market $169,000 Active 33 DOM
3. 2026-06-16
   days on market $169,000 Active 32 DOM
4. 2026-06-15
   days on market $169,000 Active 31 DOM
5. 2026-06-14
   days on market $169,000 Active 29 DOM
6. 2026-06-13
   days on market $169,000 Active 28 DOM
7. 2026-06-10
   days on market $169,000 Active 26 DOM
8. 2026-06-09
   days on market $169,000 Active 25 DOM
9. 2026-06-08
   days on market $169,000 Active 24 DOM
10. 2026-06-07
    days on market $169,000 Active 23 DOM
11. 2026-06-03
    days on market $169,000 Active 19 DOM
12. 2026-06-02
    days on market $169,000 Active 18 DOM
13. 2026-06-01
    days on market $169,000 Active 17 DOM
14. 2026-05-31
    days on market $169,000 Active 16 DOM
15. 2026-05-30
    days on market $169,000 Active 15 DOM
16. 2026-05-15
    listed $179,000 Active 511-char remark
17. 2026-05-12
    historical $179,000 511-char remark
18. 2026-04-28
    historical
19. 2026-04-12
    price $177,900
20. 2026-03-15
    price $179,900
21. 2026-02-03
    listed $184,500 Active
22. 2009-09-30
    soldstatus $64,900

    Show marketing remark (241 chars)

    Bank owned duplex with 3 bed, 1 full bath. Sold in AS IS condition. Fannie Mae does not split transfer taxes. Buyer to pay for de-winterization of the house. All offers please have pre-qual letter/verification of funds and copy of EMD check.

23. 2009-09-30
    soldstatus $64,900 Sold

    Show marketing remark (241 chars)

    Bank owned duplex with 3 bed, 1 full bath. Sold in AS IS condition. Fannie Mae does not split transfer taxes. Buyer to pay for de-winterization of the house. All offers please have pre-qual letter/verification of funds and copy of EMD check.

24. 2009-07-31
    historical
25. 2009-07-01
    historical

    Show marketing remark (241 chars)

    Bank owned duplex with 3 bed, 1 full bath. Sold in AS IS condition. Fannie Mae does not split transfer taxes. Buyer to pay for de-winterization of the house. All offers please have pre-qual letter/verification of funds and copy of EMD check.

26. 2009-06-29
    price $59,900
27. 2009-06-26
    status
28. 2009-05-14
    historical
29. 2009-03-25
    price $69,900
30. 2009-02-13
    listed $82,900

    Show marketing remark (241 chars)

    Bank owned duplex with 3 bed, 1 full bath. Sold in AS IS condition. Fannie Mae does not split transfer taxes. Buyer to pay for de-winterization of the house. All offers please have pre-qual letter/verification of funds and copy of EMD check.

31. 2009-02-13
    listed $59,900

    Show marketing remark (241 chars)

    Bank owned duplex with 3 bed, 1 full bath. Sold in AS IS condition. Fannie Mae does not split transfer taxes. Buyer to pay for de-winterization of the house. All offers please have pre-qual letter/verification of funds and copy of EMD check.

32. 2007-05-04
    soldstatus $113,000
33. 2007-05-04
    soldstatus $113,000
34. 2007-04-26
    soldstatus $113,000
35. 2007-03-21
    historical
36. 2007-03-19
    listed $129,900
37. 2007-03-13
    historical
38. 2006-08-11
    listed
39. 2000-07-31
    soldstatus $49,900
40. 1998-02-13
    historical
41. 1998-01-14
    listed
42. 1991-09-17
    soldstatus $37,500

ⓘ 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: $906 · $75/mo
• Projected year-2 tax: $1,374 · $114/mo
• Expected delta: +$468/yr (+$39/mo · 51.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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: $18,084
• − Mortgage interest: −$9,467
• − Property taxes: −$906
• − Insurance: −$845
• − Repairs & maintenance: −$1,447
• − Management: −$1,447
• − Depreciation: −$4,916
• Taxable loss: −$943
• Est. tax savings @ 24.0%: +$226
• After-tax cash flow: $2,127/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

+350.7% since first listed

28 events — show timeline

• 2026-05-24 Price Changed $169,000 BRIGHT MLS
• 2026-05-15 Listed $179,000 BRIGHT MLS
• 2026-05-12 Coming Soon $179,000 BRIGHT MLS
• 2026-04-28 Listing Removed — BRIGHT MLS
• 2026-04-12 Price Changed $177,900 BRIGHT MLS
• 2026-03-15 Price Changed $179,900 BRIGHT MLS
• 2026-02-03 Listed $184,500 BRIGHT MLS
• 2009-09-30 Sold (MLS) $64,900 MRIS
• 2009-09-30 Sold (MLS) $64,900 BRIGHT MLS
• 2009-07-31 Delisted — MRIS
• 2009-07-01 Listing Removed — BRIGHT MLS
• 2009-06-29 Price Changed $59,900 MRIS
• 2009-06-26 Relisted — MRIS
• 2009-05-14 Delisted — MRIS
• 2009-03-25 Price Changed $69,900 MRIS
• 2009-02-13 Listed $82,900 MRIS
• 2009-02-13 Listed $59,900 BRIGHT MLS
• 2007-05-04 Sold (Public Records) $113,000 Public Records
• 2007-05-04 Sold (Public Records) $113,000 Public Records
• 2007-04-26 Sold (MLS) $113,000 MRIS
• 2007-03-21 Delisted — MRIS
• 2007-03-19 Listed $129,900 MRIS
• 2007-03-13 Delisted — MRIS
• 2006-08-11 Listed — MRIS
• 2000-07-31 Sold (Public Records) $49,900 Public Records
• 1998-02-13 Delisted — MRIS
• 1998-01-14 Listed — MRIS
• 1991-09-17 Sold (Public Records) $37,500 Public Records

Property tax history

-2.9%/yr

Latest (2025): $906 · +8.9% YoY. Source: county tax records.