Occupied Brick
For Sale
$224,000
135 S 11TH Street, Lebanon, PA 17042
Multi-Family, LEBANON, PA
Property Size1,217 SF
Lot Size0.03 Acres
Price / SF$184.06
Days on Market157
Property Features for 135 S 11TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Middle school
LEBANON
High school
LEBANON
Elementary school district
LEBANON
Middle school district
LEBANON
High school district
LEBANON
Standard status
Active
Size
1,217 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2100
Utilities
Heating system
Hot Water(Heating), Other (Heating)
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Kingsway Realty - Lancaster
(717) 569-8701
Listed By:
Christine Nolt · License #RS332150
(717) 517-0407
Added: Apr 3
Changed: Sep 5
Last Checked: Sep 6 at 5:06AM
MLS# PALN2025376
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,217-square-foot duplex contains two occupied units within a brick building constructed in 1900. The property sits on a 0.03-acre lot and provides on-street parking. Its two-unit configuration offers a straightforward residential income property format for an owner seeking an occupied asset.
The property is located at 135 S 11TH Street in Lebanon, Pennsylvania, within ZIP code 17042. Existing occupancy and the established brick construction are the primary physical and operational characteristics identified for the property.
The property is located at 135 S 11TH Street in Lebanon, Pennsylvania, within ZIP code 17042. Existing occupancy and the established brick construction are the primary physical and operational characteristics identified for the property.
Key Highlights
- Two occupied residential units
- 1,217 square feet of property size
- 0.03‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,875
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$217,500
$217.5K
Cap Rate 7%
$155,357
$155.4K
Cap Rate 9%
$120,833
$120.8K
Market Conditions
NOI Build-Up for 1,217 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.8K $13.80/SF
− Vacancy
−$1.3K −$1.04/SF
EGI
$15.5K $12.77/SF
− OpEx
−$4.7K −$3.83/SF
NOI
$10.9K $8.94/SF
Area
Lebanon County, PA
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$217,500
Cap Rate 7%
$155,357
Cap Rate 9%
$120,833
Alternative Uses
Best Use
Multifamily LT 5
$155.4K
$135.9K – $181.3K
NOI $10,875 @ 7.0% cap · market cap 4.85%
Second Best
Apartment 5plus
$144.4K
$126.3K – $168.4K
NOI $10,106 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$285.7K
$250.0K – $333.3K
NOI $19,996 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,388
Businesses Nearby
Explore this area
Business Placement
Demographics for 17042, PA
40,618
Population
17,067
Households
2.4
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
600
Density / Sq Mi
$76,399
Median Household Income
$45,429
Median Earnings
$1,096
Median Rent
$222,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two occupied units, brick construction, and on-street parking define this compact residential income property.
Where is this duplex located?
The property is located at 135 S 11TH Street Lebanon, PA.
What is the asking price?
The asking price for this property is $224,000.
What are key features of this property?
This property features: Two occupied residential units; 1,217 square feet of property size; 0.03‑acre lot
