144 S Locust St · Hagerstown, MD 21740

$145,000

3 bd · 1.5 ba · 1,308 sqft · Townhouse public records · 45 Days on market

Built 1888 1,312 sqft lot $111/sqft · at area comps Est $144k · at est.

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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 +25.7/30.0
• DSCR +8.6/10.0
• ARV discount +7.2/15.0
• 1% rule +5.8/10.0
• 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

Key facts

• Built 1888
• Listed 45 days

Property features AI

Finance

• Other: Ownership is fee simple; Above-grade finished area reported as approximately 1,350 (estimated); Below-grade unfinished area reported as 654

Exterior

• Parking: On-street parking; Other parking
• Utilities: Public water; Public sewer
• Home design: Semi-detached property; Located within city limits (Hagerstown)
• Construction: Brick construction; Concrete perimeter foundation
• Exterior features: No tidal water on the lot; Other above- and below-grade structures

Interior

• Bedrooms: Two bedrooms on the second level; One bedroom on the third level
• Bathrooms: One full bathroom (upper levels); One full bathroom on the first upper level; One half bathroom on the main level
• Heating & cooling: Radiator heating; Ceiling fans; Window air conditioning units; Electric heating and cooling fuel; Electric hot water
• Interior features: Basement present (other / partially below grade); Living area reported as estimated

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath townhouse listed at $145k.

Deal economics

• At list price, monthly cash flow is $346 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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: 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 lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 232 units permitted in Washington County in 2024 (12 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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 $41k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 23y 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 $80k; list at $145k implies a 81% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1888 — 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 $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1888 — 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: 1.08% ✓
• Cap rate: 9.16%
• Cash-on-cash: 10.23%
• DSCR: 1.46
• GRM: 7.7

CMA / ARV

• ARV (median comp): $144,191
• List price: $145,000
• Delta: 0.56%
• 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
306 S Mulberry St	0.20mi	3/1.0	1,310 (+0%)	6mo	$130,000	$99	83
112 E Antietam St	0.10mi	3/1.5	1,392 (+6%)	6mo	$139,000	$100	79
137 E Antietam St	0.11mi	4/1.0 (+1)	1,235 (-6%)	0mo	$165,000	$134	78
43 S Prospect St #7	0.44mi	2/1.0 (-1)	1,311 (+0%)	2mo	$185,000	$141	71
385 S Cannon Ave	0.38mi	3/1.5	1,248 (-5%)	7mo	$270,000	$216	69
314 E Franklin St	0.40mi	2/1.0 (-1)	1,248 (-5%)	1mo	$165,000	$132	66
312 E Franklin St	0.39mi	2/1.0 (-1)	1,248 (-5%)	4mo	$165,000	$132	64
410 Summit Ave	0.48mi	3/1.0	1,360 (+4%)	6mo	$222,000	$163	64
227 N Locust St	0.46mi	3/1.0	1,216 (-7%)	7mo	$87,400	$72	59
720 Naples Dr	0.72mi	2/2.0 (-1)	1,288 (-2%)	3mo	$204,000	$158	54
337 East Ridge Dr	0.66mi	2/1.5 (-1)	1,176 (-10%)	1mo	$237,500	$202	47
725 S Potomac St	0.65mi	3/1.5	1,504 (+15%)	3mo	$213,000	$142	42

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: 0.1%
• Equity multiple: 1.00×
• Total profit: $101
• Equity at exit: $21,620

10-year hold

• IRR: 10.6%
• Equity multiple: 1.86×
• Total profit: $34,973
• Equity at exit: $12,537

Cash invested: $40,600 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,568 high
• Mortgage (P&I): −$760
• Tax from tax record: −$72 /mo · $859/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $346

Break-even live

Break-even rent $1,130

Max offer price $145,000

Occupancy floor 73%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
326 S Potomac St #1 Hagerstown, MD	2.0	1.0	1050	$1,400	$1.33	43d	1	0.20mi
326 S Potomac St #2 Hagerstown, MD	2.0	1.0	1350	$1,500	$1.11	43d	1	0.20mi
338 S Locust St Hagerstown, MD	3.0	1.5	1320	$1,600	$1.21	20d	1	0.20mi
103 E Washington St Unit 1E Hagerstown, MD	3.0	1.0	1200	$1,200	$1.00	13d	1	0.22mi
124 Ray St Hagerstown, MD	3.0	1.0	960	$1,500	$1.56	20d	1	0.23mi
50 Rochester Pl Unit 23 Hagerstown, MD	2.0	1.0	900	$1,275	$1.42	43d	1	0.23mi
60 E Washington St Apt 1E Hagerstown, MD	3.0	1.5	1300	$1,500	$1.15	20d	1	0.24mi
313 Frederick St Unit 313 Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	43d	1	0.31mi
313 Frederick St Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	43d	1	0.31mi
42 E Franklin St Hagerstown, MD	3.0	1.5	1200	$1,350	$1.12	43d	1	0.35mi
92 W Washington St Unit 403 Hagerstown, MD	2.0	1.5	924	$1,550	$1.68	43d	1	0.38mi
92 W Washington St Unit 410 Hagerstown, MD	3.0	1.5	1415	$1,795	$1.27	43d	1	0.38mi
92 W Washington St Unit 405 Hagerstown, MD	2.0	1.0	1083	$1,650	$1.52	43d	1	0.38mi
115 N Potomac St Unit 2 Hagerstown, MD	2.0	1.0	1200	$1,250	$1.04	20d	1	0.40mi
115 East Ave Unit 2 Hagerstown, MD	2.0	1.0	1200	$1,400	$1.17	43d	1	0.43mi
235 East Ave Hagerstown, MD	2.0	1.0	1200	$1,200	$1.00	13d	1	0.46mi
210 N Locust St Hagerstown, MD	3.0	1.0	1476	$1,275	$0.86	20d	1	0.46mi
207 N Mulberry St Unit 3 Hagerstown, MD	2.0	1.0	940	$1,130	$1.20	20d	1	0.46mi
311 Jefferson St Unit 311 Hagerstown, MD	3.0	1.5	1200	$1,550	$1.29	43d	1	0.54mi
307 N Locust St Hagerstown, MD	3.0	1.0	1140	$1,490	$1.31	43d	1	0.55mi
612 Frederick St Hagerstown, MD	4.0	2.0	1422	$1,875	$1.32	20d	1	0.57mi
27 Bethel St Hagerstown, MD	2.0	1.0	954	$950	$1.00	43d	1	0.57mi
382 S Cleveland Ave Unit 4 Hagerstown, MD	2.0	1.0	900	$1,200	$1.33	13d	1	0.58mi
322 N Cannon Ave Hagerstown, MD	3.0	1.5	1488	$1,800	$1.21	13d	1	0.58mi
323 N Potomac St #1 Hagerstown, MD	2.0	2.0	1800	$1,505	$0.84	20d	1	0.61mi
323 N Potomac St Unit 2 Hagerstown, MD	2.0	1.0	1700	$1,380	$0.81	20d	1	0.61mi
62 Bethel St Hagerstown, MD	3.0	1.5	1088	$1,700	$1.56	43d	1	0.61mi
441 N Potomac St Hagerstown, MD	2.0	1.0	970	$1,350	$1.39	43d	1	0.75mi
421 Salem Ave Hagerstown, MD	3.0	1.0	1256	$1,550	$1.23	20d	1	0.76mi
616 George St Hagerstown, MD	3.0	1.0	1034	$1,600	$1.55	43d	1	0.89mi
629 Oak Hill Ave Unit 3 Hagerstown, MD	2.0	1.0	1386	$1,595	$1.15	43d	1	0.89mi
625 George St Hagerstown, MD	2.0	1.0	1856	$1,400	$0.75	13d	1	0.89mi
55 Manor Dr Unit 20-204 Hagerstown, MD	2.0	1.0	936	$1,454	$1.55	43d	1	0.93mi
55 Manor Dr Unit 82-103 Hagerstown, MD	3.0	1.0	945	$1,670	$1.77	43d	1	0.93mi
55 Manor Dr Unit 32-203 Hagerstown, MD	2.0	1.0	936	$1,509	$1.61	43d	1	0.93mi
55 Manor Dr Unit 30-A1 Hagerstown, MD	2.0	1.0	936	$1,504	$1.61	43d	1	0.93mi
109 Fairground Ave Hagerstown, MD	3.0	1.0	1470	$1,600	$1.09	13d	1	0.94mi
909 Corbett St Hagerstown, MD	3.0	2.5	1276	$2,695	$2.11	13d	1	0.95mi
607 Salem Ave Hagerstown, MD	4.0	1.0	1344	$1,775	$1.32	43d	1	0.97mi
464 Peleton St Hagerstown, MD	3.0	2.0	1253	$2,025	$1.62	13d	1	0.97mi

Listing history 39 events

1. 2026-06-18
   days on market $145,000 Active 45 DOM
2. 2026-06-17
   days on market $145,000 Active 44 DOM
3. 2026-06-16
   days on market $145,000 Active 43 DOM
4. 2026-06-15
   days on market $145,000 Active 42 DOM
5. 2026-06-14
   days on market $145,000 Active 40 DOM
6. 2026-06-13
   days on market $145,000 Active 39 DOM
7. 2026-06-10
   days on market $145,000 Active 37 DOM
8. 2026-06-09
   days on market $145,000 Active 36 DOM
9. 2026-06-08
   days on market $145,000 Active 35 DOM
10. 2026-06-07
    days on market $145,000 Active 34 DOM
11. 2026-06-03
    days on market $145,000 Active 30 DOM
12. 2026-06-02
    days on market $145,000 Active 29 DOM
13. 2026-06-01
    days on market $145,000 Active 28 DOM
14. 2026-05-31
    days on market $145,000 Active 27 DOM
15. 2026-05-30
    days on market $145,000 Active 26 DOM
16. 2026-05-04
    listed $145,000 Active
17. 2026-04-24
    historical
18. 2026-04-23
    status Active
19. 2026-03-03
    status Pending
20. 2026-02-25
    listed $145,000 Active
21. 2026-02-12
    historical
22. 2025-10-15
    soldstatus $80,000
23. 2022-02-16
    price $1,250
24. 2022-01-25
    soldstatus $75,000
25. 2021-11-10
    soldstatus $65,000
26. 2016-09-11
    historical Withdrawn
27. 2016-09-11
    historical
28. 2016-05-27
    listed Active
29. 2016-05-27
    listed $69,900
30. 2005-11-03
    soldstatus $93,500
31. 2005-10-20
    soldstatus $93,500
32. 2005-09-20
    historical
33. 2005-08-10
    listed $98,900
34. 2004-03-23
    soldstatus $60,000
35. 2004-03-16
    soldstatus $60,000
36. 2004-02-19
    historical
37. 2003-08-21
    listed $64,900
38. 1994-04-14
    soldstatus $44,900
39. 1987-04-27
    soldstatus $28,000

ⓘ 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: $859 · $72/mo
• Projected year-2 tax: $1,220 · $102/mo
• Expected delta: +$361/yr (+$30/mo · 42.0%)

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

Taxation est. · year 1

• Rental income: $18,814
• − Mortgage interest: −$8,122
• − Property taxes: −$859
• − Insurance: −$725
• − Repairs & maintenance: −$1,505
• − Management: −$1,505
• − Depreciation: −$4,218
• Taxable income: $1,879
• Est. tax owed @ 24.0%: −$451
• After-tax cash flow: $3,703/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

+417.9% since first listed

24 events — show timeline

• 2026-05-04 Listed $145,000 BRIGHT MLS
• 2026-04-24 Listing Removed — BRIGHT MLS
• 2026-04-23 Relisted — BRIGHT MLS
• 2026-03-03 Pending — BRIGHT MLS
• 2026-02-25 Listed $145,000 BRIGHT MLS
• 2026-02-12 Coming Soon — BRIGHT MLS
• 2025-10-15 Sold (Public Records) $80,000 Public Records
• 2022-02-16 Price Changed $1,250 RENT.
• 2022-01-25 Sold (Public Records) $75,000 Public Records
• 2021-11-10 Sold (Public Records) $65,000 Public Records
• 2016-09-11 Listing Removed — BRIGHT MLS
• 2016-09-11 Delisted — MRIS
• 2016-05-27 Listed — MRIS
• 2016-05-27 Listed $69,900 BRIGHT MLS
• 2005-11-03 Sold (Public Records) $93,500 Public Records
• 2005-10-20 Sold (MLS) $93,500 MRIS
• 2005-09-20 Delisted — MRIS
• 2005-08-10 Listed $98,900 MRIS
• 2004-03-23 Sold (Public Records) $60,000 Public Records
• 2004-03-16 Sold (MLS) $60,000 MRIS
• 2004-02-19 Delisted — MRIS
• 2003-08-21 Listed $64,900 MRIS
• 1994-04-14 Sold (Public Records) $44,900 Public Records
• 1987-04-27 Sold (Public Records) $28,000 Public Records

Property tax history

-3.0%/yr

Latest (2025): $859 · +13.7% YoY. Source: county tax records.