Palmyra Triplex Investment
521 & 523 E MAIN Street, Palmyra, PA 17078
MULTI_FAMILY - PALMYRA, PA
Property size:
2,922 SFLot size:
0.18 AcresPrice / SF:
$154/SF- Added:
- Mar 31, 2026
- Days on Market:
- 48
- Last Refresh:
- May 17 at 12:06 pm
Property Features for 521 & 523 E MAIN Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking
- 8
- Parking features
- Driveway, Off Street
- Interior features
- Bathroom - Tub Shower, Carpet, Ceiling Fan(s)
- Appliances
- Dishwasher, Oven/Range - Electric, Refrigerator, Washer, Dryer
- Standard status
- Active
- Size
- 2,922 SF
- Lot size
- 0.18 Acres
Taxes and HOA fees
- Tax Annual Amount
- 5292
Utilities
- Heating system
- Hot Water(Heating)
- Cooling system
- Ceiling Fan(s), Central Air
Building Details
- Year built
- 1930
- Number of units
- 3
- Building materials
- Aluminum Siding
Listing agent Amanda Krall License #RS329101 (717) 514-4772
Listing office Iron Valley Real Estate 1958 Quentin Road, Lebanon, PA (717) 769-2986
Listing date Mar 31, 2026
MLS# PALN2025266
Listing URL
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
- Excellent investment opportunity with strong rental potential due to three separate units.
- Located in a highly desirable school district.
- Separate utilities for each unit (tenant‑paid in most cases) for ease of management.
- Off‑street parking for all units.
- New roof to be installed by the owner.
- Unit B has central air conditioning.
Overview
This well-maintained triplex in Palmyra presents an excellent investment opportunity, situated within a highly desirable school district. The property comprises three spacious units, each with separate utilities and strong rental potential. One unit, located at 523 E Main St, features two floors of living space with 2 bedrooms and 1 full bath on the second level. The main level includes a living room, dining room, kitchen, half bath, and laundry. Luxury vinyl plank flooring is installed throughout the main level, with carpet upstairs. The tenant owns the washer and dryer, which are located in the kitchen. This unit has two-zone gas hot water heat and access to a shared unfinished basement. Another unit, 521 Unit A (Main Level), is a one-bedroom unit with a living room, kitchen, full bath, and in-unit laundry. It features gas hot water heat and shares a basement with separate access with the 523 unit. The third unit, 521 Unit B (Upper Unit), is a spacious multi-level unit offering 3 bedrooms and 1 full bath. The second level includes a living room, kitchen, one bedroom, bath, and laundry, while the third floor provides two additional bedrooms. This unit has gas heat and central air. The shared basement houses gas furnaces for 523 and 521 Unit A, water heaters for all three units, and three separate 100-amp electric panels. Additional features include off-street parking for all units in the rear and an owner-maintained yard. The owner will be replacing the roof. The property is situated on a 0.18-acre lot and offers a total of 2922 square feet of space. It is located at 521 & 523 E MAIN Street, PALMYRA, PA 17078.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$290.1K
NOI $26,110 @ 9.00% cap · cautious / downside scenario
Moderate
$373.0K
NOI $26,110 @ 7.00% cap · market / base-case scenario
Aggressive
$522.2K
NOI $26,110 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.3k | $13.80 |
| − Vacancy | −$3.0k | −$1.04 |
| EGI | $37.3k | $12.77 |
| − OpEx | −$11.2k | −$3.83 |
| NOI | $26.1k | $8.94 |
2,922 SF · lease $13.80/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$373.0K
$326.4K – $435.2K
NOI $26,110 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$346.6K
$303.3K – $404.4K
NOI $24,265 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$685.9K
$600.1K – $800.2K
NOI $48,010 @ 7.0% cap · market cap 10.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Palmyra
- County
- Lebanon
- State
- Pennsylvania
- Longitude
- -76.589386
- Latitude
- 40.311005
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Well-maintained triplex with strong rental potential in a desirable location.
Where is this triplex located?
The property is located at 521 & 523 E MAIN Street Palmyra, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Excellent investment opportunity with strong rental potential due to three separate units.; Located in a highly desirable school district.; Separate utilities for each unit (tenant‑paid in most cases) for ease of management.
