241 N FRANKLIN Street, Lancaster, PA 17602
MULTI_FAMILY - Other - LANCASTER, PA
- Added:
- May 13, 2026
- Days on Market:
- 46
- Last Refresh:
- Jun 27 at 11:06 pm
Property Features for 241 N FRANKLIN Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Standard status
- Active Under Contract
- Size
- 1,700 SF
- Lot size
- 0.04 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2372
Utilities
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1900
- Number of units
- 2
- Building materials
- Brick
- Architectural style
- Other
Listing agent Kate Bailey License #RS320338 (215) 868-2450
Listing office Coldwell Banker Realty 390 Waterloo Boulevard unit: 101, Plymouth Meeting, PA (610) 363-6006
Listing date May 13, 2026
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.
HighLights
- Brick construction
- Forced air heating
- Window unit(s) cooling
- On‑street parking
- Year built: 1900
- Includes basement
Overview
The property is located at 241 N Franklin Street in Lancaster, Pennsylvania 17602, within Lancaster County. As presented, it’s a compact site designed around a duplex configuration rather than a large-lot redevelopment concept.
From an owner-occupant or investor perspective, the key practical consideration is the duplex setup paired with a modest, manageable footprint. At 1,700 square feet, it may appeal to buyers seeking a smaller scale residential income asset while keeping site and building dimensions relatively compact. For additional details on unit layout, current condition, and any associated income or expenses, review the listing materials and confirm specifics with the seller or their representative.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.5k | $16.20 |
| − Vacancy | −$413 | −$0.24 |
| EGI | $27.1k | $15.96 |
| − OpEx | −$8.1k | −$4.79 |
| NOI | $19.0k | $11.17 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Lancaster
- County
- Lancaster
- State
- Pennsylvania
- Longitude
- -76.291832
- Latitude
- 40.043808
