Updated Two-Unit
New
For Sale
$309,000
567 ROCKLAND Street, Lancaster, PA 17602
Multi-Family, LANCASTER, PA
Property Size1,680 SF
Lot Size0.06 Acres
Price / SF$183.93
Days on Market2
Property Features for 567 ROCKLAND Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Elementary school district
SCHOOL DISTRICT OF LANCASTER
Middle school district
SCHOOL DISTRICT OF LANCASTER
High school district
SCHOOL DISTRICT OF LANCASTER
Standard status
Active
Size
1,680 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
2904
Utilities
Heating system
Hot Water(Heating), Other (Heating)
Cooling system
Window Unit(s)
Amenities
balcony
motion-activated lighting
coin-operated washer and dryer
storage shed
gazebo
Building Details
Year built
1900
Number of units
2
Building materials
Aluminum Siding, Brick
Architectural style
Other
Listing Agency:
Realty ONE Group Unlimited
(717) 569-1700
Listed By:
Sandy Bonano
(717) 405-9439
Added: Sep 11
Last Checked: Sep 12 at 3:06AM
MLS# PALA2094738
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 Lancaster duplex contains two two-bedroom units within 1,680 square feet. Each residence has its own backyard area, while the property also includes a balcony with Trek decking, motion-activated entry lighting, a storage shed, and a gazebo. The basement houses coin-operated laundry equipment. Construction includes aluminum siding and brick, with hot water heating and window-unit cooling. On-street parking is provided.
The property occupies 0.06 acres at 567 Rockland Street in Lancaster, Pennsylvania, and includes an additional lot. The first-floor unit is leased through a Section 8 rental arrangement, with the current tenancy extending 30 years. A new roof was installed in 2024, adding a recent capital improvement to the property’s established two-unit configuration.
The property occupies 0.06 acres at 567 Rockland Street in Lancaster, Pennsylvania, and includes an additional lot. The first-floor unit is leased through a Section 8 rental arrangement, with the current tenancy extending 30 years. A new roof was installed in 2024, adding a recent capital improvement to the property’s established two-unit configuration.
Key Highlights
- Two‑bedroom duplex with 2 units and 1,680 square feet
- First‑floor unit has Section 8 rental arrangement and 30‑year current tenancy
- New roof installed in 2024
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
$18,765
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
6.07%
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%
$375,300
$375.3K
Cap Rate 7%
$268,071
$268.1K
Cap Rate 9%
$208,500
$208.5K
Market Conditions
NOI Build-Up for 1,680 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
$27.2K $16.20/SF
− Vacancy
−$408 −$0.24/SF
EGI
$26.8K $15.96/SF
− OpEx
−$8.0K −$4.79/SF
NOI
$18.8K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /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%
$375,300
Cap Rate 7%
$268,071
Cap Rate 9%
$208,500
Alternative Uses
Best Use
Multifamily LT 5
$268.1K
$234.6K – $312.8K
NOI $18,765 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,549 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$563.0K
$492.6K – $656.8K
NOI $39,408 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,201
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units offer separate outdoor areas, shared laundry facilities, and a new roof installed in 2024.
Where is this duplex located?
The property is located at 567 ROCKLAND Street Lancaster, PA.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Two‑bedroom duplex with 2 units and 1,680 square feet; First‑floor unit has Section 8 rental arrangement and 30‑year current tenancy; New roof installed in 2024
