Duplex with Detached
New
For Sale
$319,000
537 W MAIN Street, Myerstown, PA 17067
Multi-Family, MYERSTOWN, PA
Property Size2,284 SF
Lot Size0.27 Acres
Price / SF$139.67
Days on Market3
Property Features for 537 W MAIN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement
Parking
9
Parking features
Parking Lot, Off Street, Garage - Detached, Driveway
Interior features
Bathroom - Tub Shower, Carpet, Ceiling Fan(s), Combination Kitchen/Dining, Floor Plan - Traditional, Kitchen - Eat-In, Walk-in Closet(s)
Appliances
Oven/Range - Electric
Middle school
EASTERN LEBANON COUNTY
High school
EASTERN LEBANON COUNTY SENIOR
Elementary school district
EASTERN LEBANON COUNTY
Middle school district
EASTERN LEBANON COUNTY
High school district
EASTERN LEBANON COUNTY
Standard status
Active
Size
2,284 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Annual Amount
2788
Utilities
Heating system
Baseboard, Hot Water(Heating)
Amenities
wraparound porch
oversized shop/garage
large level yard
Building Details
Year built
1900
Number of units
2
Building materials
Stick Built, Vinyl Siding
Architectural style
Other
Listing Agency:
Iron Valley Real Estate
(717) 769-2986
Listed By:
Stephen R Brinton · License #RS305982
(717) 383-7620
Added: Sep 25
Last Checked: Sep 27 at 12:06AM
MLS# PALN2028834
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 2,284-square-foot duplex in Myerstown contains two renovated residences, each with two bedrooms. The front unit has one full bathroom; the rear unit has two, including an ensuite. Updates include replacement windows, a gas boiler, and a hot water heater. Each residence has its own electric, water, and gas meter, while tenants cover those utilities and trash is excluded from that arrangement.
A detached shop/garage provides additional enclosed space. The property also includes a wraparound porch, a level yard on 0.27 acres, and off-street parking. Built in 1900, the home has vinyl siding and baseboard and hot-water heating.
A detached shop/garage provides additional enclosed space. The property also includes a wraparound porch, a level yard on 0.27 acres, and off-street parking. Built in 1900, the home has vinyl siding and baseboard and hot-water heating.
Key Highlights
- Two residences, each with 2 bedrooms, in a 2,284‑square‑foot duplex
- Front unit has 1 full bath; rear unit has 2 full baths, including an ensuite
- Detached shop/garage, wraparound porch, and off‑street parking
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
$20,409
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
6.40%
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%
$408,180
$408.2K
Cap Rate 7%
$291,557
$291.6K
Cap Rate 9%
$226,767
$226.8K
Market Conditions
NOI Build-Up for 2,284 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
$31.5K $13.80/SF
− Vacancy
−$2.4K −$1.04/SF
EGI
$29.2K $12.77/SF
− OpEx
−$8.7K −$3.83/SF
NOI
$20.4K $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%
$408,180
Cap Rate 7%
$291,557
Cap Rate 9%
$226,767
Alternative Uses
Best Use
Multifamily LT 5
$291.6K
$255.1K – $340.2K
NOI $20,409 @ 7.0% cap · market cap 6.40%
Second Best
Apartment 5plus
$271.0K
$237.1K – $316.1K
NOI $18,967 @ 7.0% cap · market cap 5.95%
Theoretical Best
Office A
$536.1K
$469.1K – $625.5K
NOI $37,527 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 17067, PA
15,677
Population
6,155
Households
2.5
Avg Household Size
43
Median Age
17%
College-Educated
83%
High-School Grad
47.1 sq mi
ZIP Area
333
Density / Sq Mi
$78,125
Median Household Income
$47,624
Median Earnings
$1,183
Median Rent
$229,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences have been updated and are served by separate electric, water, and gas meters.
Where is this duplex located?
The property is located at 537 W MAIN Street Myerstown, PA.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms, in a 2,284‑square‑foot duplex; Front unit has 1 full bath; rear unit has 2 full baths, including an ensuite; Detached shop/garage, wraparound porch, and off‑street parking
