17813 Sherman Ave · Halfway, MD 21740

$109,000

2 bd · 1.0 ba · 672 sqft · Manufactured public records · 64 Days on market

Built 1970 10,000 sqft lot $162/sqft · 130% above area

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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 +28.0/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Rent growth +3.5/5.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Schools +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

You can own your piece of Hagerstown with this charming mobile home sitting on its own partially fenced in ground! It has been well taken care of with many updates (See the list uploaded in documents) Upon entering the property you see the nice sized covered deck and a nicely paved driveway allowing for ample private parking. Conveniently located only minutes from route 70, shopping, restaurants, parks and a public swimming pool! It is in an established neighborhood and is the only mobile home in this lovely community! This home features its own private lot (no hoa/rent) complete with a nice sized shed to secure all your outdoor equipment and personal belongings. The yard is partially fenced with a double wide gate in rear that can be accessed from the ally. It's all been done, move in ready!! Call to schedule your private showing! It's priced right and will not last long!! * A new rubber roof in 2019 *

Key facts

• Covered deck
• Double wide gate
• Private lot

Tags

• COVERED DECK
• PAVED DRIVEWAY
• PRIVATE LOT
• NICE SIZED SHED
• PARTIALLY FENCED YARD
• DOUBLE WIDE GATE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $109k.

Deal economics

• At list price, monthly cash flow is $340 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $102k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 4.8% in Halfway — 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 66/100 on livability (#225 in MD) — a middle-class / working-renter tenant base. Strengths: housing A+, cost of living A, employment A-; Watch: schools C-, crime F, amenities 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; 1 comparable units currently listed for rent nearby; 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 $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $31k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y ago; this cycle's ask has dropped $20k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $87k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• 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 $102,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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: 1.19% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.39%
• DSCR: 1.60
• GRM: 7.0

CMA / ARV

• ARV (median comp): $47,440
• List price: $109,000
• Delta: 129.76%
• Verdict: OVERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1401 Wellington Rd	0.35mi	2/1.0	720 (+7%)	3mo	$55,000	$76	69

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: 4.5%
• Equity multiple: 1.17×
• Total profit: $5,321
• Equity at exit: $16,252

10-year hold

• IRR: 14.8%
• Equity multiple: 2.25×
• Total profit: $38,000
• Equity at exit: $9,424

Cash invested: $30,520 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,300 medium
• Mortgage (P&I): −$572
• Tax from tax record: −$70 /mo · $836/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $340

Break-even live

Break-even rent $869

Max offer price $109,000

Occupancy floor 69%

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17940 Garden Ln Hagerstown, MD	1.0–3.0	1.0–2.0	1020	$1,465	$1.44	13d	19	0.81mi

Listing history 24 events

1. 2026-06-18
   status $109,000 Pending 64 DOM
2. 2026-06-18
   days on market $109,000 Active 64 DOM
3. 2026-06-17
   price $109,000 Active 63 DOM
4. 2026-06-17
   days on market $119,000 Active 63 DOM
5. 2026-06-16
   status $119,000 Active 62 DOM
6. 2026-05-15
   historical Active Under Contract 1014-char remark

   Show marketing remark (1014 chars)

   You can own your piece of Hagerstown with this charming mobile home sitting on its own partially fenced in ground! It has been well taken care of with many updates (See the list uploaded in documents) Upon entering the property you see the nice sized covered deck and a nicely paved driveway allowing for ample private parking. Conveniently located only minutes from route 70, shopping, restaurants, parks and a public swimming pool! It is in an established neighborhood and is the only mobile home in this lovely community! This home features its own private lot (no hoa/rent) complete with a nice sized shed to secure all your outdoor equipment and personal belongings. The yard is partially fenced with a double wide gate in rear that can be accessed from the ally. It's all been done, move in ready!! Call to schedule your private showing! It's priced right and will not last long!! * A new rubber roof in 2019 *

7. 2026-04-09
   price $119,000 1014-char remark

   Show marketing remark (1014 chars)

   You can own your piece of Hagerstown with this charming mobile home sitting on its own partially fenced in ground! It has been well taken care of with many updates (See the list uploaded in documents) Upon entering the property you see the nice sized covered deck and a nicely paved driveway allowing for ample private parking. Conveniently located only minutes from route 70, shopping, restaurants, parks and a public swimming pool! It is in an established neighborhood and is the only mobile home in this lovely community! This home features its own private lot (no hoa/rent) complete with a nice sized shed to secure all your outdoor equipment and personal belongings. The yard is partially fenced with a double wide gate in rear that can be accessed from the ally. It's all been done, move in ready!! Call to schedule your private showing! It's priced right and will not last long!! * A new rubber roof in 2019 *

8. 2026-03-14
   listed $129,000 Active 1014-char remark

   Show marketing remark (1014 chars)

   You can own your piece of Hagerstown with this charming mobile home sitting on its own partially fenced in ground! It has been well taken care of with many updates (See the list uploaded in documents) Upon entering the property you see the nice sized covered deck and a nicely paved driveway allowing for ample private parking. Conveniently located only minutes from route 70, shopping, restaurants, parks and a public swimming pool! It is in an established neighborhood and is the only mobile home in this lovely community! This home features its own private lot (no hoa/rent) complete with a nice sized shed to secure all your outdoor equipment and personal belongings. The yard is partially fenced with a double wide gate in rear that can be accessed from the ally. It's all been done, move in ready!! Call to schedule your private showing! It's priced right and will not last long!! * A new rubber roof in 2019 *

9. 2021-03-22
   soldstatus $87,000
10. 2021-03-19
    soldstatus $87,000 Closed 500-char remark

    Show marketing remark (500 chars)

    Only minutes away from route 70, shopping & restaurants, this charming mobile home has been almost totally renovated in the last 2 years. In an established neighborhood and the only mobile home around. This property features its own private lot (no lot rent) complete with a nice shed, ally access with double wide gate in the rear, front porch and newly paved driveway allowing for ample parking. Property is being sold "as is"because everything has been done, ready to just move in!

11. 2021-02-16
    status Pending 500-char remark

    Show marketing remark (500 chars)

    Only minutes away from route 70, shopping & restaurants, this charming mobile home has been almost totally renovated in the last 2 years. In an established neighborhood and the only mobile home around. This property features its own private lot (no lot rent) complete with a nice shed, ally access with double wide gate in the rear, front porch and newly paved driveway allowing for ample parking. Property is being sold "as is"because everything has been done, ready to just move in!

12. 2021-02-12
    listed $89,900 Active 500-char remark

    Show marketing remark (500 chars)

    Only minutes away from route 70, shopping & restaurants, this charming mobile home has been almost totally renovated in the last 2 years. In an established neighborhood and the only mobile home around. This property features its own private lot (no lot rent) complete with a nice shed, ally access with double wide gate in the rear, front porch and newly paved driveway allowing for ample parking. Property is being sold "as is"because everything has been done, ready to just move in!

13. 2021-02-12
    historical

    Show marketing remark (500 chars)

    Only minutes away from route 70, shopping & restaurants, this charming mobile home has been almost totally renovated in the last 2 years. In an established neighborhood and the only mobile home around. This property features its own private lot (no lot rent) complete with a nice shed, ally access with double wide gate in the rear, front porch and newly paved driveway allowing for ample parking. Property is being sold "as is"because everything has been done, ready to just move in!

14. 2021-02-11
    status Active
15. 2021-02-07
    historical Active Under Contract
16. 2021-01-31
    price $94,750
17. 2021-01-19
    price $99,750
18. 2021-01-07
    price $104,750
19. 2020-12-12
    price $110,500
20. 2020-12-01
    price $119,500
21. 2020-11-12
    listed $125,000 Active
22. 2006-07-28
    historical
23. 2006-04-05
    listed
24. 1987-12-11
    soldstatus $29,000

ⓘ 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: $836 · $70/mo
• Projected year-2 tax: $1,012 · $84/mo
• Expected delta: +$176/yr (+$15/mo · 21.1%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,602
• − Mortgage interest: −$6,106
• − Property taxes: −$836
• − Insurance: −$545
• − Repairs & maintenance: −$1,248
• − Management: −$1,248
• − Depreciation: −$3,171
• Taxable income: $2,448
• Est. tax owed @ 24.0%: −$588
• After-tax cash flow: $3,498/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 — Halfway

• Score: 66/100
• State rank: #225
• US rank: #11296

Category grades

Amenities F Commute F Cost of living A Crime F Employment A- Housing A+ Health & safety B+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Halfway, 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

+310.3% since first listed

19 events — show timeline

• 2026-05-15 Contingent — BRIGHT MLS
• 2026-04-09 Price Changed $119,000 BRIGHT MLS
• 2026-03-14 Listed $129,000 BRIGHT MLS
• 2021-03-22 Sold (Public Records) $87,000 Public Records
• 2021-03-19 Sold (MLS) $87,000 BRIGHT MLS
• 2021-02-16 Pending — BRIGHT MLS
• 2021-02-12 Listing Removed — BRIGHT MLS
• 2021-02-12 Listed $89,900 BRIGHT MLS
• 2021-02-11 Relisted — BRIGHT MLS
• 2021-02-07 Contingent — BRIGHT MLS
• 2021-01-31 Price Changed $94,750 BRIGHT MLS
• 2021-01-19 Price Changed $99,750 BRIGHT MLS
• 2021-01-07 Price Changed $104,750 BRIGHT MLS
• 2020-12-12 Price Changed $110,500 BRIGHT MLS
• 2020-12-01 Price Changed $119,500 BRIGHT MLS
• 2020-11-12 Listed $125,000 BRIGHT MLS
• 2006-07-28 Delisted — MRIS
• 2006-04-05 Listed — MRIS
• 1987-12-11 Sold (Public Records) $29,000 Public Records

Property tax history

+2.5%/yr

Latest (2025): $836 · +10.7% YoY. Source: county tax records.