115 East Ave, Hagerstown, MD 21740

Local realty services provided by:ERA Valley Realty
115 East Ave,Hagerstown, MD 21740
$225,000
  • 4 Beds
  • - Baths
  • 1,918 sq. ft.
  • Multi-family
  • Active
Listed by: ian baylor
Office: exit deluxe realty
MLS#:MDWA2032176
Source:BRIGHTMLS

Price summary

  • Price:$225,000
  • Price per sq. ft.:$117.31

About this home

Turnkey Duplex Investment with Immediate Cash Flow & Long-Term Upside Discover a rare opportunity to own a fully leased two-unit Colonial duplex in the heart of Hagerstown’s growing rental market. Each spacious 2-bedroom, 1-bathroom unit features approximately 959 sq. ft. of living space with separate entrances and electric meters, offering low-maintenance income generation and long-term tenant stability. Sitting on a 9,840 sq. ft. lot, this well-maintained property delivers $2,250/month in rental income (approx. $27,000 annually), with both units on month-to-month leases at current market rates. The bottom unit is $975 and the top unit $1,275. The pro forma gross rent multiplier (GRM) under 10 and potential 8–10% cap rate make this a standout opportunity for investors seeking cash flow with equity growth potential. Recent comparable sales in the immediate area have reached up to $233,500–$250,000 for smaller or single-unit properties, highlighting the under appreciated potential

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Home facts

  • Year built:1880
  • Listing ID #:MDWA2032176
  • Added:65 day(s) ago
  • Updated:December 18, 2025 at 02:28 PM

Rooms and interior

  • Bedrooms:4
  • Living area:1,918 sq. ft.

Heating and cooling

  • Cooling:Window Unit(s)
  • Heating:90% Forced Air, Natural Gas

Structure and exterior

  • Year built:1880
  • Building area:1,918 sq. ft.
  • Lot area:0.23 Acres

Utilities

  • Water:Public
  • Sewer:Public Sewer

Finances and disclosures

  • Price:$225,000
  • Price per sq. ft.:$117.31
  • Tax amount:$1,838 (2024)

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