418 Mcdowell Ave · Hagerstown, MD 21740

$129,900

5 bd · 2.0 ba · 2,779 sqft · SingleFamily public records · 151 Days on market

Built 1900 0.25 ac lot $47/sqft · 53% below area

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• ARV discount +7.5/15.0
• 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

Listing remarks MLS

Offering a perfect blend of historic character and modern potential. With 2,779 sq. ft. of living space, this detached residence features four spacious bedrooms and two full bathrooms, providing ample room for relaxation and entertaining. The unfinished basement presents an opportunity for customization. Set on a generous 0.25-acre lot, the property boasts a driveway for convenient parking. This property is a canvas awaiting your personal touch—don’t miss the chance to make it your own! Schedule a viewing today and explore the possibilities that await.

Key facts

• Generous lot
• Driveway for parking
• Modern potential

Tags

• HISTORIC CHARACTER
• MODERN POTENTIAL
• UNFINISHED BASEMENT
• GENEROUS LOT
• DRIVEWAY FOR PARKING

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $671 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.5% 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: Ruth Ann Monroe Primary (567 students, 80% FRL); 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 (39 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.0%/yr); 383 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 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 $898 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 151 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y ago; this cycle's ask has dropped $40k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $114,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 151 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.48% ✓
• Cap rate: 12.49%
• Cash-on-cash: 22.14%
• DSCR: 1.98
• GRM: 5.6

CMA / ARV

• ARV (median comp): $277,592
• List price: $129,900
• Delta: -53.20%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
933 Salem Ave	0.36mi	4/3.0 (-1)	2,800 (+1%)	21mo	$295,000	$105	56
434 Jonathan St	0.43mi	4/2.5 (-1)	2,580 (-7%)	20mo	$250,000	$97	44
822 Oak Hill Ave	0.74mi	4/2.5 (-1)	2,832 (+2%)	22mo	$385,000	$136	37
220 N Locust St	0.75mi	5/2.0	2,400 (-14%)	23mo	$197,500	$82	23
1125 W Irvin Ave	0.61mi	4/2.5 (-1)	2,376 (-14%)	24mo	$356,000	$150	20

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: 16.0%
• Equity multiple: 1.65×
• Total profit: $23,638
• Equity at exit: $19,369

10-year hold

• IRR: 25.3%
• Equity multiple: 3.30×
• Total profit: $83,789
• Equity at exit: $11,231

Cash invested: $36,372 (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: 383
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,923 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$113 /mo · $1,353/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $671

Break-even live

Break-even rent $1,074

Max offer price $129,900

Occupancy floor 60%

Sensitivity live

Price	-10% $745	-5% $708	+0% $671	+5% $634	+10% $597
Rent	-10% $519	-5% $595	+0% $671	+5% $747	+10% $823
Rate	-1.0pp $736	-0.5pp $704	base $671	+0.5pp $637	+1.0pp $603

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16 East Ave Hagerstown, MD	4.0	1.0	2088	$1,425	$0.68	45d	1	0.65mi
409 Gandy Dancer Ct Unit 409 Hagerstown, MD	4.0	3.5	2112	$2,350	$1.11	45d	1	1.15mi
409 Gandy Dancer Ct Hagerstown, MD	4.0	3.5	2112	$2,350	$1.11	23d	1	1.15mi
414 S Potomac St Hagerstown, MD	4.0	2.0	2564	$1,495	$0.58	23d	1	1.22mi

Listing history 26 events

1. 2026-06-22
   days on market $129,900 Active 151 DOM
2. 2026-06-18
   days on market $129,900 Active 148 DOM
3. 2026-06-17
   days on market $129,900 Active 147 DOM
4. 2026-06-16
   days on market $129,900 Active 146 DOM
5. 2026-06-15
   days on market $129,900 Active 145 DOM
6. 2026-06-14
   days on market $129,900 Active 143 DOM
7. 2026-06-13
   days on market $129,900 Active 142 DOM
8. 2026-06-10
   days on market $129,900 Active 140 DOM
9. 2026-06-09
   days on market $129,900 Active 139 DOM
10. 2026-06-08
    days on market $129,900 Active 138 DOM
11. 2026-06-07
    days on market $129,900 Active 137 DOM
12. 2026-06-03
    days on market $129,900 Active 133 DOM
13. 2026-06-02
    days on market $129,900 Active 132 DOM
14. 2026-06-01
    days on market $129,900 Active 131 DOM
15. 2026-05-31
    days on market $129,900 Active 130 DOM
16. 2026-05-30
    days on market $129,900 Active 129 DOM
17. 2026-04-28
    price $149,900 570-char remark

    Show marketing remark (570 chars)

    Offering a perfect blend of historic character and modern potential. With 2,779 sq. ft. of living space, this detached residence features four spacious bedrooms and two full bathrooms, providing ample room for relaxation and entertaining. The unfinished basement presents an opportunity for customization. Set on a generous 0.25-acre lot, the property boasts a driveway for convenient parking. This property is a canvas awaiting your personal touch—don’t miss the chance to make it your own! Schedule a viewing today and explore the possibilities that await.

18. 2026-02-19
    price $159,900 570-char remark

    Show marketing remark (570 chars)

    Offering a perfect blend of historic character and modern potential. With 2,779 sq. ft. of living space, this detached residence features four spacious bedrooms and two full bathrooms, providing ample room for relaxation and entertaining. The unfinished basement presents an opportunity for customization. Set on a generous 0.25-acre lot, the property boasts a driveway for convenient parking. This property is a canvas awaiting your personal touch—don’t miss the chance to make it your own! Schedule a viewing today and explore the possibilities that await.

19. 2026-01-21
    listed $169,900 Active 570-char remark

    Show marketing remark (570 chars)

    Offering a perfect blend of historic character and modern potential. With 2,779 sq. ft. of living space, this detached residence features four spacious bedrooms and two full bathrooms, providing ample room for relaxation and entertaining. The unfinished basement presents an opportunity for customization. Set on a generous 0.25-acre lot, the property boasts a driveway for convenient parking. This property is a canvas awaiting your personal touch—don’t miss the chance to make it your own! Schedule a viewing today and explore the possibilities that await.

20. 2006-12-09
    soldstatus $233,000 347-char remark

    Show marketing remark (347 chars)

    STEP BACK IN TIME TO BIG ROOMS, ORIG WOODWORK, BEAUTIFUL DOORS, HDWD FLOORS, 9' CEILINGS, BUILT-IN CABINETS, 2ND KITCHEN UPSTAIRS, PRESENTLY SINGLE FAMILY HOME OR COULD BE 2 UNIT (HAS SEP ELEC), ABOVE GROUND POOL, DOUBLE LOT, 29'X 29'GARAGE/WORKSHOP, NATURAL GAS TO HOUSE, UPPER & LOWER BACK PORCHES, 2700+ SF FINISHED, PELLET STOVE CONVEYS.

21. 2006-11-01
    historical 347-char remark

    Show marketing remark (347 chars)

    STEP BACK IN TIME TO BIG ROOMS, ORIG WOODWORK, BEAUTIFUL DOORS, HDWD FLOORS, 9' CEILINGS, BUILT-IN CABINETS, 2ND KITCHEN UPSTAIRS, PRESENTLY SINGLE FAMILY HOME OR COULD BE 2 UNIT (HAS SEP ELEC), ABOVE GROUND POOL, DOUBLE LOT, 29'X 29'GARAGE/WORKSHOP, NATURAL GAS TO HOUSE, UPPER & LOWER BACK PORCHES, 2700+ SF FINISHED, PELLET STOVE CONVEYS.

22. 2006-03-17
    listed $225,000 347-char remark

    Show marketing remark (347 chars)

    STEP BACK IN TIME TO BIG ROOMS, ORIG WOODWORK, BEAUTIFUL DOORS, HDWD FLOORS, 9' CEILINGS, BUILT-IN CABINETS, 2ND KITCHEN UPSTAIRS, PRESENTLY SINGLE FAMILY HOME OR COULD BE 2 UNIT (HAS SEP ELEC), ABOVE GROUND POOL, DOUBLE LOT, 29'X 29'GARAGE/WORKSHOP, NATURAL GAS TO HOUSE, UPPER & LOWER BACK PORCHES, 2700+ SF FINISHED, PELLET STOVE CONVEYS.

23. 1999-08-18
    soldstatus $93,000
24. 1999-08-17
    soldstatus $93,000
25. 1999-07-23
    historical
26. 1999-05-18
    listed $93,000

ⓘ 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: $1,353 · $113/mo
• Projected year-2 tax: $1,384 · $115/mo
• Expected delta: +$31/yr (+$3/mo · 2.3%)

ⓘ 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) · 20% 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: $23,074
• − Mortgage interest: −$7,276
• − Property taxes: −$1,353
• − Insurance: −$650
• − Repairs & maintenance: −$1,846
• − Management: −$1,846
• − Depreciation: −$3,779
• Taxable income: $6,325
• Est. tax owed @ 24.0%: −$1,518
• After-tax cash flow: $6,534/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

+61.2% since first listed

10 events — show timeline

• 2026-04-28 Price Changed $149,900 BRIGHT MLS
• 2026-02-19 Price Changed $159,900 BRIGHT MLS
• 2026-01-21 Listed $169,900 BRIGHT MLS
• 2006-12-09 Sold (MLS) $233,000 MRIS
• 2006-11-01 Delisted — MRIS
• 2006-03-17 Listed $225,000 MRIS
• 1999-08-18 Sold (Public Records) $93,000 Public Records
• 1999-08-17 Sold (MLS) $93,000 MRIS
• 1999-07-23 Delisted — MRIS
• 1999-05-18 Listed $93,000 MRIS

Property tax history

-2.9%/yr

Latest (2025): $1,353 · +5.6% YoY. Source: county tax records.