267 S Potomac St · Hagerstown, MD 21740

$550,000

8 bd · 0.0 ba · 5,316 sqft · MultiFamily public records · 2 Days on market

Built 1900 4,788 sqft lot Est $734k · 25% under

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Why this score? — see what drove the B- 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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +5.7/10.0
• 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

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 4 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Both sides of Duplex. In need of complete repair . Public water and sewer. Selling AS IS.

Key facts

• New plumbing
• New ductwork
• New hvac systems

Tags

• COMPLETELY RENOVATED
• NEW PLUMBING
• NEW ELECTRICAL
• NEW HEATING
• NEW HVAC SYSTEMS
• NEW DUCTWORK

Property features AI

Finance

• Financial info: Total of 4 units; 4 vacant units; Above-grade finished area reported as 3,868 (assessor); Below-grade unfinished area reported as 1,448 (assessor); Improvement and land assessed values reported by assessor

Exterior

• Parking: On-street parking; Off-street parking
• Utilities: Public water; Public sewer; Electric hot water
• Home design: Interior townhouse/rowhouse; Fee simple ownership
• Construction: Brick and combination construction; Stone foundation; Above-grade and below-grade structures; Built year per assessor
• Exterior features: Below-grade space/areas; Not located on tidal water; Located within city limits (Hagerstown)

Interior

• Bedrooms: Two one-bedroom units; Two three-bedroom units
• Heating & cooling: Hot water heating; Electric heating fuel; Ductless/mini‑split cooling (electric)
• Interior features: Interior townhouse/rowhouse layout; Four total residential units

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/?-bath units multifamily listed at $550k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $352/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $550k).
• Cap rate 9.4% 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: Bester Elementary (math 5% / reading 11%, grade F, #674 of 860 statewide, top 79%, 494 students, 88% FRL); E. Russell Hicks Middle (math 8% / reading 31%, grade F, #154 of 225 statewide, top 68%, 824 students, 74% FRL); South Hagerstown High (math 30% / reading 63%, grade D-, #118 of 222 statewide, top 54%, 1,487 students, 78% FRL) — zoned schools average 80% FRL vs 39% district-wide (41 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; 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).
• At $5,901/mo this rent would consume 113% of the median local household income ($63k/yr) (locally 2832% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $154k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 30y ago; this cycle's ask is 1445% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $210k; list at $550k implies a 162% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — 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 $550,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $733,608
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
129 Baltimore 129-131-133 St	0.19mi	9/— (+1)	5,322 (+0%)	17mo	$735,000	$138	72

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: 1.1%
• Equity multiple: 1.04×
• Total profit: $6,397
• Equity at exit: $82,007

10-year hold

• IRR: 11.6%
• Equity multiple: 1.94×
• Total profit: $145,271
• Equity at exit: $47,554

Cash invested: $154,000 (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: 31.1×

Monthly cashflow live

• Estimated rent: $5,901 high
• Mortgage (P&I): −$2,884
• Tax from tax record: −$139 /mo · $1,666/yr
• Insurance: −$229
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,239
• Net cashflow: $1,410

Break-even live

Break-even rent $4,117

Max offer price $550,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,721	-5% $1,565	+0% $1,410	+5% $1,254	+10% $1,098
Rent	-10% $943	-5% $1,176	+0% $1,410	+5% $1,643	+10% $1,876
Rate	-1.0pp $1,686	-0.5pp $1,549	base $1,410	+0.5pp $1,267	+1.0pp $1,122

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	—	$5,900
Total (4 units)			$5,901

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: $137,500
• Closing costs: $16,500
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-18
   days on market $550,000 Active 2 DOM
2. 2026-06-16
   statusdays on market $550,000 Active 1 DOM
3. 2026-06-16
   days on market $550,000 Coming Soon 4 DOM
4. 2026-06-15
   days on market $550,000 Coming Soon 3 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $550,000 Coming Soon 1 DOM

ⓘ 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: $1,666 · $139/mo
• Projected year-2 tax: $3,831 · $319/mo
• Expected delta: +$2,164/yr (+$180/mo · 129.9%)

ⓘ 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 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: $70,812
• − Mortgage interest: −$30,809
• − Property taxes: −$1,666
• − Insurance: −$2,750
• − Repairs & maintenance: −$5,665
• − Management: −$5,665
• − Depreciation: −$16,000
• Taxable income: $8,257
• Est. tax owed @ 24.0%: −$1,982
• After-tax cash flow: $14,932/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

+864.9% since first listed

14 events — show timeline

• 2026-06-12 Coming Soon $550,000 BRIGHT MLS
• 2024-12-06 Sold (Public Records) $210,000 Public Records
• 2018-02-28 Sold (MLS) $32,040 BRIGHT MLS
• 2018-01-10 Listing Removed — BRIGHT MLS
• 2018-01-10 Listing Removed — BRIGHT MLS
• 2017-12-28 Listed $35,600 BRIGHT MLS
• 2017-12-16 Listed $35,600 BRIGHT MLS
• 2002-04-12 Sold (Public Records) $109,900 Public Records
• 1999-03-01 Delisted — MRIS
• 1997-01-10 Listed — MRIS
• 1996-09-30 Delisted — MRIS
• 1996-04-03 Listed — MRIS
• 1990-08-27 Sold (Public Records) $96,000 Public Records
• 1983-07-28 Sold (Public Records) $57,000 Public Records

Property tax history

-3.8%/yr

Latest (2025): $1,666 · +2.9% YoY. Source: county tax records.