246 N Locust St Hagerstown, MD 21740
Central NeighborhoodEstimated payment $2,314/month
Highlights
- Combination Kitchen and Dining Room
- Ceiling Fan
- Electric Baseboard Heater
- Ruth Ann Monroe Primary School Rated A-
About This Home
REDUCED PRICE. Priced to Sell! Incredible Value-Add Opportunity!
Exceptional investment opportunity in the rapidly growing Hagerstown market! This fully occupied, lead-free 5-unit multifamily property spans 3,280 sq ft and features five one-bedroom, one-bath units with a strong rental history. HUGE VALUE-ADD POTENTIAL — Current rents are below market, offering immediate upside through rent increases to align with market rates! The building is in fantastic condition with recent upgrades already completed—no additional expenses required. VERY LOW EXPENSES keep operating costs down and maximize profitability. Each unit has separate utilities, and a shared laundry room provides additional income potential.
With stable tenants, very low expenses, and steady cash flow, this property offers a reliable and high-upside investment. The seller is also offering a duplex in Hagerstown, which can be purchased individually or as part of a package for even greater returns.
Don’t Miss Out! Schedule a tour today and secure your place in one of Hagerstown’s fastest-growing markets!
Listing Agent
(301) 991-0207 roberto@rgrealtyinc.com RG Realty, Inc. License #598229 Listed on: 03/18/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $4,553
Year Built
- Built in 1914
Lot Details
- 3,280 Sq Ft Lot
Home Design
- Brick Exterior Construction
Interior Spaces
- 4,523 Sq Ft Home
- Ceiling Fan
- Combination Kitchen and Dining Room
Parking
- Free Parking
- On-Street Parking
Utilities
- Electric Baseboard Heater
- Electric Water Heater
Community Details
- 4 Units
- Downtown Community
- Downtown Hagerstown Subdivision
Listing and Financial Details
- Assessor Parcel Number 2222012894
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $2,164 | $248,700 | $40,000 | $208,700 |
| 2024 | $2,164 | $237,500 | $0 | $0 |
| 2023 | $2,062 | $226,300 | $0 | $0 |
| 2022 | $1,960 | $215,100 | $40,000 | $175,100 |
| 2021 | $2,220 | $215,100 | $40,000 | $175,100 |
| 2020 | $2,002 | $215,100 | $40,000 | $175,100 |
| 2019 | $2,030 | $217,100 | $40,000 | $177,100 |
| 2018 | $2,227 | $215,833 | $0 | $0 |
| 2017 | $1,994 | $214,567 | $0 | $0 |
| 2016 | -- | $213,300 | $0 | $0 |
| 2015 | $4,236 | $204,333 | $0 | $0 |
| 2014 | $4,236 | $195,367 | $0 | $0 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 08/11/2025 08/11/25 | Price Changed | $364,900 | -6.4% | $81 / Sq Ft |
| 07/29/2025 07/29/25 | Price Changed | $390,000 | -17.9% | $86 / Sq Ft |
| 03/18/2025 03/18/25 | For Sale | $475,000 | +150.7% | $105 / Sq Ft |
| 04/02/2021 04/02/21 | Sold | $189,500 | 0.0% | $58 / Sq Ft |
| 02/11/2021 02/11/21 | Pending | -- | -- | -- |
| 02/10/2021 02/10/21 | Off Market | $189,500 | -- | -- |
| 02/09/2021 02/09/21 | For Sale | $189,500 | 0.0% | $58 / Sq Ft |
| 04/01/2018 04/01/18 | Rented | $550 | 0.0% | -- |
| 03/06/2018 03/06/18 | For Rent | $550 | -- | -- |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $189,500 | Clear Title Llc | |
| Deed | $46,000 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $142,125 | Purchase Money Mortgage |
Source: Bright MLS
MLS Number: MDWA2027602
APN: 22-012894
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