709 S Potomac St · Hagerstown, MD 21740

$179,995

3 bd · 1.0 ba · 1,356 sqft · SingleFamily public records · 120 Days on market

Built 1862 3,920 sqft lot $133/sqft · 28% below area Est $250k · 28% 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 +20.1/30.0
• ARV discount +15.0/15.0
• DSCR +6.4/10.0
• 1% rule +4.4/10.0
• 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

Listing remarks MLS

Investor opportunity with income in place. Property generates $1,400 per month with three tenants on month to month agreements. Tenants pay their own utilities. Functional layout with solid fundamentals and value add potential through cosmetic improvements. Suitable for buy and hold investors or portfolio expansion. Convenient location with access to shopping, employment, and commuter routes supporting rental demand.

Key facts

• Convenient location
• 3,920 sq ft lot
• 2 garage spots

Tags

• FUNCTIONAL LIVING SPACES
• CONVENIENT LOCATION

🏷️ Possibly a rental listed for sale. The $179,995 price doesn't fit this home's estimated sale value (~$250,310) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $225 ($3k/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 $169k (6.1% below list).
• Recommended offer: $164k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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 (+4.0%/yr); 368 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 32% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 120 days — a 9% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 30y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $112k; list at $180k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1862 — 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 $163,795 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1862 — 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: 0.94% ✗
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 8.9

CMA / ARV

• ARV (median comp): $250,310
• List price: $179,995
• Delta: -28.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
324 W Howard St	0.29mi	3/2.5	1,342 (-1%)	5mo	$300,000	$224	75
837 Virginia Ave	0.56mi	3/2.0	1,290 (-5%)	2mo	$255,000	$198	60
1006 Rose Hill Ave	0.55mi	4/2.0 (+1)	1,392 (+3%)	7mo	$294,900	$212	56
920 Chestnut St	0.41mi	3/1.0	1,170 (-14%)	8mo	$239,900	$205	51
940 Pope Ave	0.47mi	3/1.0	1,225 (-10%)	14mo	$259,000	$211	50
1040 Pope Ave	0.58mi	3/1.5	1,238 (-9%)	8mo	$229,000	$185	50
570 Dunn Irvin Dr	0.37mi	3/1.5	1,520 (+12%)	14mo	$266,000	$175	49
1240 Pope Ave	0.75mi	3/2.0	1,408 (+4%)	11mo	$315,000	$224	46
870 Pine St	0.52mi	3/1.0	1,176 (-13%)	10mo	$240,000	$204	45
1039 Spruce St	0.56mi	3/2.0	1,231 (-9%)	12mo	$240,000	$195	44
1032 Rose Hill Ave	0.63mi	2/1.0 (-1)	1,206 (-11%)	4mo	$261,000	$216	44
112-S Cannon Ave	0.72mi	3/2.5	1,529 (+13%)	6mo	$275,000	$180	34

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: -7.0%
• Equity multiple: 0.74×
• Total profit: $-13,149
• Equity at exit: $26,838

10-year hold

• IRR: 3.7%
• Equity multiple: 1.28×
• Total profit: $13,998
• Equity at exit: $15,563

Cash invested: $50,399 (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: 8.9×

Monthly cashflow live

• Estimated rent: $1,690 high
• Mortgage (P&I): −$944
• Tax from tax record: −$91 /mo · $1,087/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $225

Break-even live

Break-even rent $1,404

Max offer price $179,995

Occupancy floor 82%

Sensitivity live

Price	-10% $327	-5% $276	+0% $225	+5% $174	+10% $124
Rent	-10% $92	-5% $159	+0% $225	+5% $292	+10% $359
Rate	-1.0pp $316	-0.5pp $271	base $225	+0.5pp $179	+1.0pp $131

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: $44,999
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
909 Corbett St Hagerstown, MD	3.0	2.5	1276	$2,695	$2.11	14d	1	0.36mi
124 Ray St Hagerstown, MD	3.0	1.0	960	$1,500	$1.56	21d	1	0.39mi
338 S Locust St Hagerstown, MD	3.0	1.5	1320	$1,600	$1.21	21d	1	0.41mi
326 S Potomac St #2 Hagerstown, MD	2.0	1.0	1350	$1,500	$1.11	44d	1	0.43mi
326 S Potomac St #1 Hagerstown, MD	2.0	1.0	1050	$1,400	$1.33	44d	1	0.43mi
39 W Wilson Blvd Hagerstown, MD	3.0	2.0	1440	$1,730	$1.20	21d	1	0.45mi
612 Frederick St Hagerstown, MD	4.0	2.0	1422	$1,875	$1.32	21d	1	0.48mi
313 Frederick St Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	44d	1	0.48mi
313 Frederick St Unit 313 Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	44d	1	0.48mi
837 Virginia Ave Hagerstown, MD	3.0	2.0	1400	$2,000	$1.43	14d	1	0.55mi
382 S Cleveland Ave Unit 4 Hagerstown, MD	2.0	1.0	900	$1,200	$1.33	14d	1	0.77mi
50 Rochester Pl Unit 23 Hagerstown, MD	2.0	1.0	900	$1,275	$1.42	44d	1	0.80mi
103 E Washington St Unit 1E Hagerstown, MD	3.0	1.0	1200	$1,200	$1.00	14d	1	0.83mi
60 E Washington St Apt 1E Hagerstown, MD	3.0	1.5	1300	$1,500	$1.15	21d	1	0.86mi
92 W Washington St Unit 403 Hagerstown, MD	2.0	1.5	924	$1,550	$1.68	44d	1	0.92mi
92 W Washington St Unit 410 Hagerstown, MD	3.0	1.5	1415	$1,795	$1.27	44d	1	0.92mi
92 W Washington St Unit 405 Hagerstown, MD	2.0	1.0	1083	$1,650	$1.52	44d	1	0.92mi
42 E Franklin St Hagerstown, MD	3.0	1.5	1200	$1,350	$1.12	44d	1	0.96mi
1160-A Kenly Ave Hagerstown, MD	2.0	1.0–2.0	980	$1,722	$1.76	14d	8	0.98mi
1160 Kenly Ave Hagerstown, MD	2.0	2.0	1000	$1,779	$1.78	44d	1	0.98mi
101 Doub Way Hagerstown, MD	3.0	1.0	1048	$1,635	$1.56	21d	1	0.99mi
115 N Potomac St Unit 2 Hagerstown, MD	2.0	1.0	1200	$1,250	$1.04	21d	1	1.00mi
115 East Ave Unit 2 Hagerstown, MD	2.0	1.0	1200	$1,400	$1.17	44d	1	1.04mi
235 East Ave Hagerstown, MD	2.0	1.0	1200	$1,200	$1.00	14d	1	1.04mi
207 N Mulberry St Unit 3 Hagerstown, MD	2.0	1.0	940	$1,130	$1.20	21d	1	1.06mi
210 N Locust St Hagerstown, MD	3.0	1.0	1476	$1,275	$0.86	21d	1	1.07mi
825 Armstrong Ave Hagerstown, MD	2.0	1.0	1000	$1,700	$1.70	14d	1	1.11mi
672 Armstrong Ave Hagerstown, MD	4.0	2.0	1698	$2,680	$1.58	21d	1	1.11mi
311 Jefferson St Unit 311 Hagerstown, MD	3.0	1.5	1200	$1,550	$1.29	44d	1	1.13mi
307 N Locust St Hagerstown, MD	3.0	1.0	1140	$1,490	$1.31	44d	1	1.17mi
322 N Cannon Ave Hagerstown, MD	3.0	1.5	1488	$1,800	$1.21	14d	1	1.17mi
27 Bethel St Hagerstown, MD	2.0	1.0	954	$950	$1.00	44d	1	1.17mi
62 Bethel St Hagerstown, MD	3.0	1.5	1088	$1,700	$1.56	44d	1	1.21mi
323 N Potomac St #1 Hagerstown, MD	2.0	2.0	1800	$1,505	$0.84	21d	1	1.21mi
323 N Potomac St Unit 2 Hagerstown, MD	2.0	1.0	1700	$1,380	$0.81	21d	1	1.21mi
421 Salem Ave Hagerstown, MD	3.0	1.0	1256	$1,550	$1.23	21d	1	1.26mi
55 Manor Dr Unit 82-103 Hagerstown, MD	3.0	1.0	945	$1,670	$1.77	44d	1	1.27mi
55 Manor Dr Unit 32-203 Hagerstown, MD	2.0	1.0	936	$1,509	$1.61	44d	1	1.27mi
55 Manor Dr Unit 30-A1 Hagerstown, MD	2.0	1.0	936	$1,504	$1.61	44d	1	1.27mi
55 Manor Dr Unit 20-204 Hagerstown, MD	2.0	1.0	936	$1,454	$1.55	44d	1	1.27mi

Listing history 31 events

1. 2026-06-18
   days on market $179,995 Active 120 DOM
2. 2026-06-17
   days on market $179,995 Active 119 DOM
3. 2026-06-16
   days on market $179,995 Active 118 DOM
4. 2026-06-15
   days on market $179,995 Active 117 DOM
5. 2026-06-14
   days on market $179,995 Active 115 DOM
6. 2026-06-13
   days on market $179,995 Active 114 DOM
7. 2026-06-10
   days on market $179,995 Active 112 DOM
8. 2026-06-09
   days on market $179,995 Active 111 DOM
9. 2026-06-08
   days on market $179,995 Active 110 DOM
10. 2026-06-07
    days on market $179,995 Active 109 DOM
11. 2026-06-03
    days on market $179,995 Active 105 DOM
12. 2026-06-02
    days on market $179,995 Active 104 DOM
13. 2026-06-01
    days on market $179,995 Active 103 DOM
14. 2026-05-31
    days on market $179,995 Active 102 DOM
15. 2026-05-30
    days on market $179,995 Active 101 DOM
16. 2026-04-14
    price $179,995 420-char remark

    Show marketing remark (420 chars)

    Investor opportunity with income in place. Property generates $1,400 per month with three tenants on month to month agreements. Tenants pay their own utilities. Functional layout with solid fundamentals and value add potential through cosmetic improvements. Suitable for buy and hold investors or portfolio expansion. Convenient location with access to shopping, employment, and commuter routes supporting rental demand.

17. 2026-03-13
    price $189,995 420-char remark

    Show marketing remark (420 chars)

    Investor opportunity with income in place. Property generates $1,400 per month with three tenants on month to month agreements. Tenants pay their own utilities. Functional layout with solid fundamentals and value add potential through cosmetic improvements. Suitable for buy and hold investors or portfolio expansion. Convenient location with access to shopping, employment, and commuter routes supporting rental demand.

18. 2026-02-18
    listed $199,995 Active 420-char remark

    Show marketing remark (420 chars)

    Investor opportunity with income in place. Property generates $1,400 per month with three tenants on month to month agreements. Tenants pay their own utilities. Functional layout with solid fundamentals and value add potential through cosmetic improvements. Suitable for buy and hold investors or portfolio expansion. Convenient location with access to shopping, employment, and commuter routes supporting rental demand.

19. 2024-08-15
    historical
20. 2024-05-06
    listed $220,000 Active
21. 2023-09-30
    historical
22. 2023-04-20
    listed $200,000 Active
23. 2022-05-12
    price $1,350
24. 2005-01-20
    soldstatus $112,500
25. 1998-10-15
    historical
26. 1998-09-03
    listed
27. 1996-03-26
    soldstatus $73,900
28. 1996-03-25
    soldstatus $73,900
29. 1996-02-12
    historical
30. 1996-01-03
    listed $73,900
31. 1988-08-25
    soldstatus $50,000

ⓘ 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: $1,087 · $91/mo
• Projected year-2 tax: $1,524 · $127/mo
• Expected delta: +$438/yr (+$36/mo · 40.3%)

ⓘ 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,277
• − Mortgage interest: −$10,083
• − Property taxes: −$1,087
• − Insurance: −$900
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − Depreciation: −$5,236
• Taxable loss: −$273
• Est. tax savings @ 24.0%: +$65
• After-tax cash flow: $2,771/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
• 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

+260.0% since first listed

16 events — show timeline

• 2026-04-14 Price Changed $179,995 BRIGHT MLS
• 2026-03-13 Price Changed $189,995 BRIGHT MLS
• 2026-02-18 Listed $199,995 BRIGHT MLS
• 2024-08-15 Listing Removed — BRIGHT MLS
• 2024-05-06 Listed $220,000 BRIGHT MLS
• 2023-09-30 Listing Removed — BRIGHT MLS
• 2023-04-20 Listed $200,000 BRIGHT MLS
• 2022-05-12 Price Changed $1,350 RENT.
• 2005-01-20 Sold (Public Records) $112,500 Public Records
• 1998-10-15 Delisted — MRIS
• 1998-09-03 Listed — MRIS
• 1996-03-26 Sold (Public Records) $73,900 Public Records
• 1996-03-25 Sold (MLS) $73,900 MRIS
• 1996-02-12 Delisted — MRIS
• 1996-01-03 Listed $73,900 MRIS
• 1988-08-25 Sold (Public Records) $50,000 Public Records

Property tax history

-3.8%/yr

Latest (2025): $1,087 · +8.8% YoY. Source: county tax records.