1024 Pope Ave · Hagerstown, MD 21740

$225,000

2 bd · 1.0 ba · 1,792 sqft · Townhouse public records · 91 Days on market

Built 1902 3,790 sqft lot $126/sqft · 5% above area Est $214k · 5% over

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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).

• Cash flow +17.5/30.0
• DSCR +5.5/10.0
• ARV discount +5.1/15.0
• Livability +3.9/5.0
• 1% rule +3.6/10.0
• 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

Well-maintained 2BR/2BA half-duplex in a convenient Hagerstown location! The main level offers a welcoming living room, separate dining room, and a stylish kitchen featuring quartz countertops, gray cabinetry, and durable LVP flooring. A den provides flexible space for a home office or cozy retreat, and the main-level hall bath includes a walk-in shower for added convenience. Upstairs, you’ll find two bedrooms, a full hall bath with tub/shower, plus two additional sitting rooms—ideal for extra bedrooms, office space, or hobby rooms. Enjoy outdoor living in the fenced-in backyard with patio and shed. Alley parking is available behind the home, along with ample on-street parking. Ideally located near schools, shopping, restaurants, and with easy access to I-70, this home offers comfort, versatility, and convenience. Schedule your showing today!

Key facts

• Built 1902
• Listed 91 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $225k.

Deal economics

• At list price, monthly cash flow is $173 ($2k/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 $195k (13.5% below list).
• Recommended offer: $195k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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: Emma K. Doub Elementary (math 17% / reading 32%, grade F, #260 of 860 statewide, top 33%, 354 students, 67% 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 73% FRL vs 39% district-wide (34 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; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $7k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($205k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $45k; list at $225k implies a 400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1902 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,537 (13.5% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1902 — 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. 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?
7. 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.
8. 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.
9. 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: 0.86% ✗
• Cap rate: 7.22%
• Cash-on-cash: 3.30%
• DSCR: 1.15
• GRM: 9.6

CMA / ARV

• ARV (median comp): $213,791
• List price: $225,000
• Delta: 5.24%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1048 Corbett St	0.08mi	3/1.5 (+1)	1,827 (+2%)	10mo	$117,000	$64	77
1019 Spruce St	0.24mi	3/1.5 (+1)	1,660 (-7%)	8mo	$229,000	$138	62
829 Rose Hill Ave	0.26mi	2/1.5	2,030 (+13%)	6mo	$330,000	$163	59
202 S Fork Dr	0.60mi	3/2.0 (+1)	1,735 (-3%)	3mo	$345,000	$199	56
236 S Fork Dr	0.66mi	2/2.5	1,745 (-3%)	17mo	$320,000	$183	45
622 Knightsbridge Dr	0.58mi	3/1.5 (+1)	1,609 (-10%)	7mo	$245,000	$152	43
605 Knightsbridge Dr	0.56mi	3/1.5 (+1)	1,552 (-13%)	2mo	$265,000	$171	42
1213 Grand Legacy Dr	0.43mi	2/2.0	1,570 (-12%)	18mo	$330,000	$210	40
653 Knightsbridge Dr	0.64mi	3/1.5 (+1)	1,670 (-7%)	23mo	$265,000	$159	32

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: -10.2%
• Equity multiple: 0.63×
• Total profit: $-23,527
• Equity at exit: $33,548

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,653
• 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 21740

• Rents YoY: 4.0%
• Active inventory: 383
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,945 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$90 /mo · $1,077/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $173

Break-even live

Break-even rent $1,726

Max offer price $225,000

Occupancy floor 86%

Sensitivity live

Price	-10% $301	-5% $237	+0% $173	+5% $110	+10% $46
Rent	-10% $20	-5% $97	+0% $173	+5% $250	+10% $327
Rate	-1.0pp $287	-0.5pp $231	base $173	+0.5pp $115	+1.0pp $56

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 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
909 Corbett St Hagerstown, MD	3.0	2.5	1276	$2,695	$2.11	15d	1	0.14mi
39 W Wilson Blvd Hagerstown, MD	3.0	2.0	1440	$1,730	$1.20	23d	1	0.22mi
837 Virginia Ave Hagerstown, MD	3.0	2.0	1400	$2,000	$1.43	15d	1	0.70mi
131 Ray St Apt 1 Hagerstown, MD	1.0	1.0	2240	$975	$0.44	23d	1	0.84mi
313 Frederick St Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	45d	1	0.88mi
313 Frederick St Unit 313 Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	45d	1	0.88mi
338 S Locust St Hagerstown, MD	3.0	1.5	1320	$1,600	$1.21	23d	1	0.89mi
326 S Potomac St #2 Hagerstown, MD	2.0	1.0	1350	$1,500	$1.11	45d	1	0.91mi
231 S Prospect St Apt B Hagerstown, MD	1.0	1.0	1350	$1,250	$0.93	45d	1	1.16mi
1527 Sherman Ave Unit 2 Hagerstown, MD	3.0	2.5	1496	$2,100	$1.40	23d	1	1.28mi
1529 Sherman Ave Unit 1 Hagerstown, MD	3.0	2.5	1496	$2,100	$1.40	23d	1	1.28mi
17940 Garden Ln Hagerstown, MD	1.0–3.0	1.0–2.0	1020	$1,465	$1.44	15d	19	1.31mi
60 E Washington St Apt 1E Hagerstown, MD	3.0	1.5	1300	$1,500	$1.15	23d	1	1.33mi
92 W Washington St Unit 410 Hagerstown, MD	3.0	1.5	1415	$1,795	$1.27	45d	1	1.40mi

Listing history 14 events

1. 2026-06-13
   status $225,000 Pending 91 DOM
2. 2026-06-10
   days on market $225,000 Active 91 DOM
3. 2026-06-09
   days on market $225,000 Active 90 DOM
4. 2026-06-08
   days on market $225,000 Active 89 DOM
5. 2026-06-07
   days on market $225,000 Active 88 DOM
6. 2026-06-03
   days on market $225,000 Active 84 DOM
7. 2026-06-02
   days on market $225,000 Active 83 DOM
8. 2026-06-01
   days on market $225,000 Active 82 DOM
9. 2026-05-31
   days on market $225,000 Active 81 DOM
10. 2026-05-30
    days on market $225,000 Active 80 DOM
11. 2026-03-11
    listed $225,000 Active 866-char remark

    Show marketing remark (866 chars)

    Well-maintained 2BR/2BA half-duplex in a convenient Hagerstown location! The main level offers a welcoming living room, separate dining room, and a stylish kitchen featuring quartz countertops, gray cabinetry, and durable LVP flooring. A den provides flexible space for a home office or cozy retreat, and the main-level hall bath includes a walk-in shower for added convenience. Upstairs, you’ll find two bedrooms, a full hall bath with tub/shower, plus two additional sitting rooms—ideal for extra bedrooms, office space, or hobby rooms. Enjoy outdoor living in the fenced-in backyard with patio and shed. Alley parking is available behind the home, along with ample on-street parking. Ideally located near schools, shopping, restaurants, and with easy access to I-70, this home offers comfort, versatility, and convenience. Schedule your showing today!

12. 2026-01-29
    historical $225,000 866-char remark

    Show marketing remark (866 chars)

    Well-maintained 2BR/2BA half-duplex in a convenient Hagerstown location! The main level offers a welcoming living room, separate dining room, and a stylish kitchen featuring quartz countertops, gray cabinetry, and durable LVP flooring. A den provides flexible space for a home office or cozy retreat, and the main-level hall bath includes a walk-in shower for added convenience. Upstairs, you’ll find two bedrooms, a full hall bath with tub/shower, plus two additional sitting rooms—ideal for extra bedrooms, office space, or hobby rooms. Enjoy outdoor living in the fenced-in backyard with patio and shed. Alley parking is available behind the home, along with ample on-street parking. Ideally located near schools, shopping, restaurants, and with easy access to I-70, this home offers comfort, versatility, and convenience. Schedule your showing today!

13. 2004-05-19
    soldstatus $45,000
14. 1985-10-14
    soldstatus $23,000

ⓘ 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: $1,077 · $90/mo
• Projected year-2 tax: $1,765 · $147/mo
• Expected delta: +$688/yr (+$57/mo · 63.8%)

ⓘ 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 6/10 Major 7 d/yr ≥101°F today · 17 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: $23,344
• − Mortgage interest: −$12,603
• − Property taxes: −$1,077
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,868
• − Management: −$1,868
• − Depreciation: −$6,545
• Taxable loss: −$1,742
• Est. tax savings @ 24.0%: +$418
• After-tax cash flow: $2,499/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

+878.3% since first listed

4 events — show timeline

• 2026-03-11 Listed $225,000 BRIGHT MLS
• 2026-01-29 Coming Soon $225,000 BRIGHT MLS
• 2004-05-19 Sold (Public Records) $45,000 Public Records
• 1985-10-14 Sold (Public Records) $23,000 Public Records

Property tax history

-1.6%/yr

Latest (2025): $1,077 · +5.7% YoY. Source: county tax records.