Highland Manor, MD

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Exterior of 16207 Dundee Ct, Hagerstown MD

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The opportunity

Buy-and-hold rental in Hagerstown (Highland Manor) — a 3 bed / 2 bath, 1,248 sqft one-story ranch on a quiet cul-de-sac. Priced at $120,000 with an estimated $15,000 of light reno. The rent ratio is strong: comps support roughly $1,745–$1,800/mo (the seller estimates $1,800–$1,900), well above the 1% rule on this basis.

A note on value: the seller lists a $200,000 ARV, but the closest closed sale comps point lower — an identical 3/2/1,248 sqft home on Heather Dr sold at $162,500, and a larger 3/2/1,400 sqft home at $170,000. Underwrite this as a cash-flow rental toward a ~$162K–$175K value rather than a $200K flip.

Important: this is a double-wide manufactured home permanently affixed to the foundation. Financing is limited — many lenders won't lend on manufactured homes, so plan on cash or specialty financing (which also helps explain the lower comps). HOA is low (~$440/yr). Sold sight unseen, no access until ratified. Best-and-final offers due Jun 25; closing Jul 8.

Property

Highlights

• Cash-flow rental: est. $1,800–$1,900/mo (rent comps support $1,745–$1,800)
• Double-wide manufactured ranch, permanently affixed to foundation; no basement
• 1,248 sqft one-story, 3 bd / 2 ba, off-street parking on a quiet cul-de-sac
• Low HOA: $220 semi-annual (~$440/yr) — covers common areas, trash, road maintenance
• Minutes to I-70 & I-81; Hagerstown draws renters priced out of larger MD markets
• Roof, HVAC, and windows — no reported issues (ages unknown)

Comps supporting the ARV

Recent nearby closed sales.

Highland Manor — Hagerstown, MD