17521 Lexington Ave · Halfway, MD 21740

$250,000

4 bd · 1.0 ba · 1,203 sqft · SingleFamily public records · 123 Days on market

Built 1941 9,150 sqft lot $208/sqft · 10% below area Est $277k · 10% under

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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).

• ARV discount +11.9/15.0
• Cash flow +11.7/30.0
• DSCR +3.5/10.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

A 4-bedroom, 1-bath single-family home is currently rented and ready for a new investor to purchase and add to their portfolio. Property is being sold with a tenant in place, providing immediate income. The home features an open kitchen and living room layout, stainless steel appliances including a dishwasher, and hardwood flooring in the two main-level bedrooms. The second level includes two additional carpeted bedrooms. The bathroom has an updated tiled tub surround. Exterior features include a fenced yard with a storage shed and shared off-street parking. Located on a quiet residential street with steady rental demand, this property offers a straightforward investment opportunity with existing cash flow in place.

Key facts

• Hardwood flooring
• Fenced yard
• Storage shed

Tags

• STAINLESS STEEL APPLIANCES
• HARDWOOD FLOORING
• UPDATED TILED TUB SURROUND
• FENCED YARD
• STORAGE SHED
• SHARED OFF-STREET PARKING

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $-72 ($-864/yr) — negative.
• To cash-flow at today's rent, offer at most $237k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $195k (22.0% below list).
• Recommended offer: $195k (22.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 4.8% in Halfway — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 5 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 37% 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 123 days — a 12% lower offer ($220k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 24y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $70k; list at $250k implies a 257% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — 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 $194,886 (22.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 123 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.78% ✗
• Cap rate: 5.95%
• Cash-on-cash: -1.23%
• DSCR: 0.95
• GRM: 10.7

CMA / ARV

• ARV (median comp): $277,142
• List price: $250,000
• Delta: -9.79%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11217 Hollywood Rd	0.10mi	3/1.0 (-1)	1,248 (+4%)	6mo	$320,000	$256	79
17409 Wolford Ave	0.15mi	3/1.0 (-1)	1,260 (+5%)	9mo	$260,000	$206	73
11319 Manse Rd	0.41mi	3/1.0 (-1)	1,258 (+5%)	1mo	$270,000	$215	67
11108 Mountain View Cir	0.38mi	3/1.0 (-1)	1,144 (-5%)	14mo	$236,000	$206	58
11117 Nursery Rd	0.31mi	4/1.5	1,363 (+13%)	6mo	$310,000	$227	56
11306 Manse Rd	0.38mi	3/2.0 (-1)	1,304 (+8%)	14mo	$300,000	$230	48
948 Linwood Rd	0.67mi	3/2.0 (-1)	1,152 (-4%)	8mo	$265,000	$230	46
11113 Glenside Ave	0.36mi	3/1.5 (-1)	1,044 (-13%)	10mo	$305,900	$293	46
17415 Gay St	0.50mi	3/1.0 (-1)	1,056 (-12%)	9mo	$255,000	$241	44
17910 Pin Oak Rd	0.68mi	3/2.0 (-1)	1,148 (-5%)	13mo	$320,000	$279	40
17317 Amber Dr	0.75mi	3/2.0 (-1)	1,271 (+6%)	11mo	$285,000	$224	38
17814 Stone Valley Cir	0.70mi	3/2.0 (-1)	1,025 (-15%)	6mo	$208,000	$203	28

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: -17.3%
• Equity multiple: 0.38×
• Total profit: $-43,157
• Equity at exit: $37,276

10-year hold

• IRR: -7.7%
• Equity multiple: 0.49×
• Total profit: $-35,361
• Equity at exit: $21,615

Cash invested: $70,000 (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: 10.7×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$196 /mo · $2,357/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $-72

Break-even live

Break-even rent $2,040

Max offer price $237,283

Occupancy floor 99%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10924 Gaywood Dr Hagerstown, MD	3.0	1.0	1100	$2,000	$1.82	21d	1	0.47mi
1529 Sherman Ave Unit 1 Hagerstown, MD	3.0	2.5	1496	$2,100	$1.40	21d	1	0.65mi
1527 Sherman Ave Unit 2 Hagerstown, MD	3.0	2.5	1496	$2,100	$1.40	21d	1	0.66mi
17940 Garden Ln Hagerstown, MD	1.0–3.0	1.0–2.0	1020	$1,706	$1.67	13d	19	0.94mi
671 Highland Way Unit 5 Hagerstown, MD	3.0	1.0	865	$1,500	$1.73	44d	1	1.49mi

Listing history 45 events

1. 2026-06-17
   days on market $250,000 Active 123 DOM
2. 2026-06-16
   days on market $250,000 Active 122 DOM
3. 2026-06-15
   days on market $250,000 Active 121 DOM
4. 2026-06-14
   days on market $250,000 Active 119 DOM
5. 2026-06-13
   days on market $250,000 Active 118 DOM
6. 2026-06-10
   days on market $250,000 Active 116 DOM
7. 2026-06-09
   days on market $250,000 Active 115 DOM
8. 2026-06-08
   days on market $250,000 Active 114 DOM
9. 2026-06-07
   days on market $250,000 Active 113 DOM
10. 2026-06-03
    days on market $250,000 Active 109 DOM
11. 2026-06-02
    days on market $250,000 Active 108 DOM
12. 2026-06-01
    days on market $250,000 Active 107 DOM
13. 2026-05-31
    days on market $250,000 Active 106 DOM
14. 2026-05-30
    days on market $250,000 Active 105 DOM
15. 2026-02-14
    listed $250,000 Active 725-char remark

    Show marketing remark (725 chars)

    A 4-bedroom, 1-bath single-family home is currently rented and ready for a new investor to purchase and add to their portfolio. Property is being sold with a tenant in place, providing immediate income. The home features an open kitchen and living room layout, stainless steel appliances including a dishwasher, and hardwood flooring in the two main-level bedrooms. The second level includes two additional carpeted bedrooms. The bathroom has an updated tiled tub surround. Exterior features include a fenced yard with a storage shed and shared off-street parking. Located on a quiet residential street with steady rental demand, this property offers a straightforward investment opportunity with existing cash flow in place.

16. 2024-08-15
    historical
17. 2024-05-06
    listed $220,000 Active
18. 2014-12-14
    historical Withdrawn
19. 2014-12-14
    historical
20. 2014-10-07
    listed Active
21. 2014-10-07
    listed $134,900
22. 2014-10-07
    historical
23. 2014-10-07
    historical Withdrawn
24. 2014-09-05
    price
25. 2014-07-14
    price
26. 2014-06-11
    listed Active
27. 2014-06-11
    listed $134,900
28. 2013-08-15
    soldstatus $70,000
29. 2013-07-17
    historical
30. 2013-07-15
    soldstatus $70,000 Sold
31. 2013-07-15
    soldstatus $70,000
32. 2013-03-22
    status Contingent (No Kick Out)
33. 2013-03-21
    historical Temporarily Off-Market
34. 2013-03-21
    historical
35. 2013-03-05
    price $75,000
36. 2013-02-13
    listed $90,000 Active
37. 2013-02-13
    listed $75,000
38. 2006-03-10
    soldstatus $150,000
39. 2006-02-28
    soldstatus $150,000
40. 2006-01-09
    historical
41. 2005-08-15
    listed $169,900
42. 2002-09-06
    soldstatus $104,900
43. 2002-08-29
    soldstatus $104,900
44. 2002-07-18
    historical
45. 2002-03-01
    listed $104,900

ⓘ 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: $2,357 · $196/mo
• Projected year-2 tax: $2,541 · $212/mo
• Expected delta: +$184/yr (+$15/mo · 7.8%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,386
• − Mortgage interest: −$14,004
• − Property taxes: −$2,357
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$7,273
• Taxable loss: −$5,239
• Est. tax savings @ 24.0%: +$1,257
• After-tax cash flow: $393/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
• 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

+138.3% since first listed

31 events — show timeline

• 2026-02-14 Listed $250,000 BRIGHT MLS
• 2024-08-15 Listing Removed — BRIGHT MLS
• 2024-05-06 Listed $220,000 BRIGHT MLS
• 2014-12-14 Listing Removed — BRIGHT MLS
• 2014-12-14 Delisted — MRIS
• 2014-10-07 Listed — MRIS
• 2014-10-07 Delisted — MRIS
• 2014-10-07 Listing Removed — BRIGHT MLS
• 2014-10-07 Listed $134,900 BRIGHT MLS
• 2014-09-05 Price Changed — MRIS
• 2014-07-14 Price Changed — MRIS
• 2014-06-11 Listed — MRIS
• 2014-06-11 Listed $134,900 BRIGHT MLS
• 2013-08-15 Sold (Public Records) $70,000 Public Records
• 2013-07-17 Delisted — MRIS
• 2013-07-15 Sold (MLS) $70,000 BRIGHT MLS
• 2013-07-15 Sold (MLS) $70,000 MRIS
• 2013-03-22 Pending — MRIS
• 2013-03-21 Delisted — MRIS
• 2013-03-21 Listing Removed — BRIGHT MLS
• 2013-03-05 Price Changed $75,000 MRIS
• 2013-02-13 Listed $90,000 MRIS
• 2013-02-13 Listed $75,000 BRIGHT MLS
• 2006-03-10 Sold (Public Records) $150,000 Public Records
• 2006-02-28 Sold (MLS) $150,000 MRIS
• 2006-01-09 Delisted — MRIS
• 2005-08-15 Listed $169,900 MRIS
• 2002-09-06 Sold (Public Records) $104,900 Public Records
• 2002-08-29 Sold (MLS) $104,900 MRIS
• 2002-07-18 Delisted — MRIS
• 2002-03-01 Listed $104,900 MRIS

Property tax history

+4.9%/yr

Latest (2025): $2,357 · -7.9% YoY. Source: county tax records.