ZIP CODE 21740 // HAGERSTOWN-MARTINSBURG, MD-WV // DATA AS OF 2026-09-30
Hagerstown, MD (21740) Rental Property Cap Rate & Cash Flow Report
Located in Washington County (Hagerstown, MD), Zip Code 21740 ranks #221 of 500 within this selected sample (56th percentile) with a Zillow ZHVI typical home-value index of $288,533 (-0.1% YoY) and a ZORI observed market rent of $1,328/mo (+1.6% YoY). Requires at least 56.0% down payment at 6.5% interest to reach $0/mo break-even cash flow. This model combines different housing populations; it is not an observed average property return. Costs assume state-average tax, 0.5% annual insurance, 13% reserves and no HOA or management. Figures below follow your edits; this headline describes the original benchmark.
Net Monthly Cash Flow
-$657/mo
Annual: -$7,885/yr
Modeled Cap Rate
3.33%
NOI: $9,622/yr
Cash-on-Cash Return
-11.88%
Cash Needed: $66,363
1% Rule Ratio
0.46%
Gross Yield: 5.52%
Break-Even Rent
$2,083/mo
State Tax: 0.97%/yr
INTERACTIVE PRO-FORMA STATEMENT (ZIP 21740 BENCHMARK)
Edit any value
Purchase Price (ZHVI proxy)
Monthly Gross Rent (ZORI proxy)
Down Payment (%)
Interest Rate (30Y Fixed %)
Annual Property Tax (MD Avg 0.97%)
Annual Home Insurance ($)
Monthly HOA Fee ($)
Monthly Debt Service (P&I)
-$1,459/mo
Monthly Operating Expenses (Tax + Ins + 13% Reserves)
-$526/mo
HISTORICAL ZHVI PRICE VS. ZORI RENT TRAJECTORY (21740)
| Year | ZHVI Value | ZORI Rent | Gross Yield |
|---|---|---|---|
| 2021 | $229,730 | $1,022/mo | 5.34% |
| 2022 | $253,182 | $1,125/mo | 5.33% |
| 2023 | $266,937 | $1,194/mo | 5.37% |
| 2024 | $283,059 | $1,266/mo | 5.37% |
| 2025 | $288,704 | $1,308/mo | 5.44% |
| 2026 | $288,533 | $1,328/mo | 5.52% |
COMPARABLE U.S. RENTAL MARKETS
| Zip / City | Price | Rent | Cap Rate | Cash Flow |
|---|---|---|---|---|
| 20906 Silver Spring, MD | $436,799 | $1,979/mo | 3.26% | -$1,022/mo |
| 20874 Germantown, MD | $408,788 | $1,994/mo | 3.62% | -$833/mo |
| 21117 Owings Mills, MD | $384,367 | $1,877/mo | 3.63% | -$781/mo |
| 21234 Parkville, MD | $300,360 | $1,621/mo | 4.16% | -$476/mo |
| 21122 Pasadena, MD | $450,783 | $2,538/mo | 4.41% | -$624/mo |
| 20878 Gaithersburg, MD | $680,693 | $2,384/mo | 2.19% | -$2,202/mo |