13 Winter St · Hagerstown, MD 21740

$159,900

3 bd · 1.0 ba · 2,174 sqft · Townhouse public records · 55 Days on market

Built 1909 4,543 sqft lot $74/sqft · 14% below area Est $185k · 14% under

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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 +25.3/30.0
• ARV discount +13.6/15.0
• DSCR +8.3/10.0
• 1% rule +5.7/10.0
• 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

Great opportunity in city of Hagerstown! This all-brick duplex at 13 Winter Street offers strong potential for investors or savvy buyers looking to add value. Featuring 3 bedrooms, 1.5 baths, and three levels of living space. The property includes hardwood flooring throughout, pocket doors, and classic architectural details. Additional highlights include natural gas radiator heat, a large covered patio, fenced backyard with shed, and a detached 1-car garage with rear alley access. On-street parking also available. Property is being sold strictly as-is. Cash, conventional, or rehab loan only.

Key facts

• Garage
• Built 1909
• Listed 55 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath townhouse listed at $160k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 33% 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $45k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 30y ago; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $160k implies a 168% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1909 — 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 $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 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 1909 — 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: 1.07% ✓
• Cap rate: 9.03%
• Cash-on-cash: 9.76%
• DSCR: 1.43
• GRM: 7.8

CMA / ARV

• ARV (median comp): $184,894
• List price: $159,900
• Delta: -13.52%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
488/486 Mcdowell Ave	0.60mi	3/1.0	2,016 (-7%)	2mo	$240,000	$119	58

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-1,035
• Equity at exit: $23,842

10-year hold

• IRR: 10.0%
• Equity multiple: 1.80×
• Total profit: $36,021
• Equity at exit: $13,825

Cash invested: $44,772 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,706 high
• Mortgage (P&I): −$839
• Tax from tax record: −$78 /mo · $938/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $364

Break-even live

Break-even rent $1,245

Max offer price $159,900

Occupancy floor 74%

Sensitivity live

Price	-10% $455	-5% $409	+0% $364	+5% $319	+10% $274
Rent	-10% $229	-5% $297	+0% $364	+5% $432	+10% $499
Rate	-1.0pp $445	-0.5pp $405	base $364	+0.5pp $323	+1.0pp $281

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
625 George St Hagerstown, MD	2.0	1.0	1856	$1,400	$0.75	14d	1	0.19mi
92 W Washington St Unit 410 Hagerstown, MD	3.0	1.5	1415	$1,795	$1.27	44d	1	0.58mi
409 Gandy Dancer Ct Unit 409 Hagerstown, MD	4.0	3.5	2112	$2,350	$1.11	44d	1	0.67mi
409 Gandy Dancer Ct Hagerstown, MD	4.0	3.5	2112	$2,350	$1.11	21d	1	0.67mi
440 Jonathan St Unit A Hagerstown, MD	2.0	1.0	2244	$1,000	$0.45	44d	1	0.78mi
16 East Ave Hagerstown, MD	4.0	1.0	2088	$1,425	$0.68	44d	1	0.79mi
323 N Potomac St Unit 2 Hagerstown, MD	2.0	1.0	1700	$1,380	$0.81	21d	1	0.79mi
323 N Potomac St Unit 3 Hagerstown, MD	3.0	2.0	2200	$1,655	$0.75	21d	1	0.79mi
323 N Potomac St #1 Hagerstown, MD	2.0	2.0	1800	$1,505	$0.84	21d	1	0.79mi
227 N Locust St Hagerstown, MD	3.0	1.0	3000	$1,600	$0.53	14d	1	0.90mi
210 N Locust St Hagerstown, MD	3.0	1.0	1476	$1,275	$0.86	21d	1	0.91mi
414 S Potomac St Hagerstown, MD	4.0	2.0	2564	$1,495	$0.58	21d	1	1.00mi
715 Oak Hill Ave Unit 2N Hagerstown, MD	2.0	1.0	1500	$1,595	$1.06	44d	1	1.06mi
72 Wayside Ave Hagerstown, MD	2.0	2.0	2388	$1,485	$0.62	21d	1	1.08mi
322 N Cannon Ave Hagerstown, MD	3.0	1.5	1488	$1,800	$1.21	14d	1	1.10mi
109 Fairground Ave Hagerstown, MD	3.0	1.0	1470	$1,600	$1.09	14d	1	1.15mi
1026 Lindsay Ln Hagerstown, MD	3.0	4.0	1920	$2,200	$1.15	44d	1	1.16mi
837 Virginia Ave Hagerstown, MD	3.0	2.0	1400	$2,000	$1.43	14d	1	1.18mi
313 Frederick St Unit 313 Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	44d	1	1.19mi
313 Frederick St Hagerstown, MD	3.0	1.5	1650	$2,500	$1.52	44d	1	1.19mi
828 Hamilton Blvd Unit B Hagerstown, MD	2.0	1.0	1512	$1,495	$0.99	44d	1	1.23mi
805 Mulberry Ave Hagerstown, MD	3.0	1.5	1584	$1,830	$1.16	44d	1	1.28mi
612 Frederick St Hagerstown, MD	4.0	2.0	1422	$1,875	$1.32	21d	1	1.43mi

Listing history 23 events

1. 2026-06-18
   days on market $159,900 Active 55 DOM
2. 2026-06-17
   days on market $159,900 Active 54 DOM
3. 2026-06-16
   days on market $159,900 Active 53 DOM
4. 2026-06-15
   days on market $159,900 Active 52 DOM
5. 2026-06-14
   days on market $159,900 Active 50 DOM
6. 2026-06-13
   pricedays on market $159,900 Active 49 DOM
7. 2026-06-10
   days on market $173,500 Active 47 DOM
8. 2026-06-09
   days on market $173,500 Active 46 DOM
9. 2026-06-08
   days on market $173,500 Active 45 DOM
10. 2026-06-07
    days on market $173,500 Active 44 DOM
11. 2026-06-03
    days on market $173,500 Active 40 DOM
12. 2026-06-02
    days on market $173,500 Active 39 DOM
13. 2026-06-01
    days on market $173,500 Active 38 DOM
14. 2026-05-31
    days on market $173,500 Active 37 DOM
15. 2026-05-30
    days on market $173,500 Active 36 DOM
16. 2026-05-08
    price $173,500 598-char remark

    Show marketing remark (598 chars)

    Great opportunity in city of Hagerstown! This all-brick duplex at 13 Winter Street offers strong potential for investors or savvy buyers looking to add value. Featuring 3 bedrooms, 1.5 baths, and three levels of living space. The property includes hardwood flooring throughout, pocket doors, and classic architectural details. Additional highlights include natural gas radiator heat, a large covered patio, fenced backyard with shed, and a detached 1-car garage with rear alley access. On-street parking also available. Property is being sold strictly as-is. Cash, conventional, or rehab loan only.

17. 2026-04-24
    listed $175,000 Active 598-char remark

    Show marketing remark (598 chars)

    Great opportunity in city of Hagerstown! This all-brick duplex at 13 Winter Street offers strong potential for investors or savvy buyers looking to add value. Featuring 3 bedrooms, 1.5 baths, and three levels of living space. The property includes hardwood flooring throughout, pocket doors, and classic architectural details. Additional highlights include natural gas radiator heat, a large covered patio, fenced backyard with shed, and a detached 1-car garage with rear alley access. On-street parking also available. Property is being sold strictly as-is. Cash, conventional, or rehab loan only.

18. 2026-04-17
    historical $175,000 598-char remark

    Show marketing remark (598 chars)

    Great opportunity in city of Hagerstown! This all-brick duplex at 13 Winter Street offers strong potential for investors or savvy buyers looking to add value. Featuring 3 bedrooms, 1.5 baths, and three levels of living space. The property includes hardwood flooring throughout, pocket doors, and classic architectural details. Additional highlights include natural gas radiator heat, a large covered patio, fenced backyard with shed, and a detached 1-car garage with rear alley access. On-street parking also available. Property is being sold strictly as-is. Cash, conventional, or rehab loan only.

19. 1997-06-06
    soldstatus $59,700
20. 1997-05-27
    soldstatus $59,700
21. 1997-04-15
    historical
22. 1996-08-26
    listed $59,900
23. 1993-03-31
    soldstatus $38,000

ⓘ 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: $938 · $78/mo
• Projected year-2 tax: $1,340 · $112/mo
• Expected delta: +$403/yr (+$34/mo · 42.9%)

ⓘ 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 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: $20,468
• − Mortgage interest: −$8,957
• − Property taxes: −$938
• − Insurance: −$800
• − Repairs & maintenance: −$1,637
• − Management: −$1,637
• − Depreciation: −$4,652
• Taxable income: $1,847
• Est. tax owed @ 24.0%: −$443
• After-tax cash flow: $3,926/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

+356.6% since first listed

8 events — show timeline

• 2026-05-08 Price Changed $173,500 BRIGHT MLS
• 2026-04-24 Listed $175,000 BRIGHT MLS
• 2026-04-17 Coming Soon $175,000 BRIGHT MLS
• 1997-06-06 Sold (Public Records) $59,700 Public Records
• 1997-05-27 Sold (MLS) $59,700 MRIS
• 1997-04-15 Delisted — MRIS
• 1996-08-26 Listed $59,900 MRIS
• 1993-03-31 Sold (Public Records) $38,000 Public Records

Property tax history

-2.1%/yr

Latest (2025): $938 · +5.2% YoY. Source: county tax records.