1120 Fairview Rd · Hagerstown, MD 21742

$225,000

5 bd · 1.5 ba · 2,036 sqft · SingleFamily public records · 56 Days on market

Built 1948 6,000 sqft lot $111/sqft · 33% below area Est $333k · 33% under

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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 +22.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +5.0/10.0
• Livability +3.9/5.0
• Rent growth +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Key facts

• 6,000 sq ft lot
• Built 1948
• Listed 56 days

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $218k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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 (+4.5%/yr); 220 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).
• This rent runs 31% of the median local income ($86k/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 56 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — 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 $218,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.13%
• DSCR: 1.32
• GRM: 8.3

CMA / ARV

• ARV (median comp): $333,494
• List price: $225,000
• Delta: -32.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1125 Haven Rd	0.08mi	4/2.0 (-1)	1,789 (-12%)	2mo	$335,000	$187	68
1341 Outer Dr	0.37mi	4/2.0 (-1)	1,916 (-6%)	1mo	$390,000	$204	65
670 Northern Ave	0.59mi	5/2.0	2,071 (+2%)	5mo	$320,000	$155	64
1223 Glenwood Ave	0.21mi	4/2.0 (-1)	1,822 (-10%)	7mo	$305,000	$167	60
728 Northern Ave	0.52mi	4/1.5 (-1)	2,041 (+0%)	13mo	$404,000	$198	59
1029 Pennsylvania Ave	0.60mi	4/3.0 (-1)	1,955 (-4%)	4mo	$389,000	$199	51

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 · 4.46% rent growth · sell at horizon

5-year hold

• IRR: -3.9%
• Equity multiple: 0.85×
• Total profit: $-9,311
• Equity at exit: $33,548

10-year hold

• IRR: 7.3%
• Equity multiple: 1.58×
• Total profit: $36,607
• Equity at exit: $19,454

Cash invested: $63,000 (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 21742

• Home prices YoY: -32.5%
• Rents YoY: 4.5%
• Active inventory: 220
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,261 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$138 /mo · $1,659/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $374

Break-even live

Break-even rent $1,787

Max offer price $225,000

Occupancy floor 78%

Sensitivity live

Price	-10% $502	-5% $438	+0% $374	+5% $311	+10% $247
Rent	-10% $196	-5% $285	+0% $374	+5% $464	+10% $553
Rate	-1.0pp $488	-0.5pp $431	base $374	+0.5pp $316	+1.0pp $257

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
836 W Washington St Hagerstown, MD	5.0	1.5	1600	$1,950	$1.22	14d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $225,000 Active 56 DOM
2. 2026-06-17
   days on market $225,000 Active 55 DOM
3. 2026-06-16
   days on market $225,000 Active 54 DOM
4. 2026-06-15
   days on market $225,000 Active 53 DOM
5. 2026-06-14
   days on market $225,000 Active 51 DOM
6. 2026-06-13
   days on market $225,000 Active 50 DOM
7. 2026-06-10
   days on market $225,000 Active 48 DOM
8. 2026-06-09
   days on market $225,000 Active 47 DOM
9. 2026-06-08
   days on market $225,000 Active 46 DOM
10. 2026-06-07
    days on market $225,000 Active 45 DOM
11. 2026-06-03
    days on market $225,000 Active 41 DOM
12. 2026-06-02
    days on market $225,000 Active 40 DOM
13. 2026-06-01
    days on market $225,000 Active 39 DOM
14. 2026-05-31
    days on market $225,000 Active 38 DOM
15. 2026-05-30
    days on market $225,000 Active 37 DOM
16. 2026-04-24
    listed $225,000 Active
17. 2026-04-11
    historical $225,000

ⓘ 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: $1,659 · $138/mo
• Projected year-2 tax: $2,056 · $171/mo
• Expected delta: +$397/yr (+$33/mo · 23.9%)

ⓘ 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 3% 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: $27,132
• − Mortgage interest: −$12,603
• − Property taxes: −$1,659
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,171
• − Management: −$2,171
• − Depreciation: −$6,545
• Taxable income: $857
• Est. tax owed @ 24.0%: −$206
• After-tax cash flow: $4,285/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): 34,069
• Household income: $86,288
• Rent vs Own: 31.0% rent · 69.0% own
• Severe rent burden: 896.0

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: Predominantly White (70%)
• Race & ethnicity: White 70% Two or more races 11% Hispanic / Latino 10% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Romanian 2% Lithuanian 2% Serbian 2%
• Foreign-born: 8% · Canada, South Korea
• Languages at home: 89% English-only · Spanish 7% Other Indo-European 2% German/W. Germanic 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: ▼ -113.60%
• Current HPI: 235.6784
• Rent YoY: ▲ 4.46%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-04-24 Listed $225,000 BRIGHT MLS
• 2026-04-11 Coming Soon $225,000 BRIGHT MLS

Property tax history

-2.2%/yr

Latest (2025): $1,659 · +5.7% YoY. Source: county tax records.