Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    642 2Nd St Lancaster, PA 17603

    Sponsored
    For Sale
    $265,000

    MULTI_FAMILY - Other - LANCASTER, PA

    Property size:
    2,013 SF
    Lot size:
    0.17 Acres
    Days on Market:
    1
    Last Refresh:
    Feb 10 at 6:06 pm

    Property Features for 642 2Nd St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Parking
    4
    Parking features
    Off Street, Carport
    Size
    2,013 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Other (Heating)
    Cooling system
    Window Unit(s)

    Building Details

    Year built
    1915
    Number of units
    2
    Building materials
    Stucco, Masonry
    Architectural style
    Other

    We can help!

    Listing Contact
    Lisa Larsen
    Lisa Larsen

    Lusk & Associates (717) 291-9101

    Listing agent Lisa Larsen (717) 575-7557 License #RS198457L

    Listing date Feb 10, 2026

    MLS# PALA2082768 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.

    Learn more

    Property Insight Report

    Overview

    Lancaster Two-Unit Property With Garage

    This two-unit property in Lancaster, Pennsylvania, features a one-bedroom unit and a three-bedroom unit, both requiring updates and repairs, and is being sold as-is. The property includes a carport and a five-car garage accessible from Ocean Avenue, providing ample vehicle or storage space. Situated on a single-home lot with a spacious backyard, this property presents an opportunity for investors willing to make improvements and add value. The garage offers potential for additional income through rentals. The property size is 2013 square feet and the lot size is 0.17 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Lancaster
    State
    Pennsylvania
    Longitude
    -76.31987
    Latitude
    40.03518

    Nearby Similar for Sale

    • New
      $1,895,000
      5,500 SF

      Historic Townhouse with Commercial Space

      Historic Lancaster townhouse with commercial space and residential living.
      121-123 E King St, Lancaster, PA 17602
      View Details
    • $400,000
      3,863 SF

      Lancaster Restaurant Business For Sale

      Turn-key pub-style restaurant with indoor and outdoor seating in high-traffic area.
      2347 103, Lancaster, PA 17601
      View Details
    • New
      $169,900
      1,000 SF

      Lancaster Office Space For Sale

      Second-floor office space with private offices and conference room.
      2938-1 Columbia Ave, Lancaster, PA 17603
      View Details
    • New
      $125,000

      Lancaster Office Suite For Sale

      Well-appointed office suite in desirable Shippen Place community.
      231 N Shippen St, Lancaster, PA 17602
      View Details
    • $349,900
      1,200 SF

      Lancaster Rancher-Style Multi-Family Property

      Well-kept duplex on spacious lot, ideal for investment or living.
      619-621 Millersville Rd, Lancaster, PA 17603
      View Details
    • New
      $325,000
      1,968 SF

      Lancaster Two-Unit Apartment Building

      Well-kept, fully occupied two-unit building near Lancaster County attractions.
      557 W Grant St, Lancaster, PA 17603
      View Details
    • New
      $249,900
      2,080 SF

      Lancaster Duplex: Investment Opportunity

      Two-unit property in Lancaster, PA with rental income.
      348 S Queen St, Lancaster, PA 17603
      View Details
    • New
      $419,000
      2,868 SF

      Renovated Lancaster City Fourplex

      Fully renovated four-unit property in Lancaster City, turn-key investment.
      641 S Queen St, Lancaster, PA 17603
      View Details
    • New
      $565,000
      768 SF

      Lancaster Multifamily Investment Opportunity

      Well-maintained 5-unit apartment building generating $55,800 annually.
      215 W Vine St, Lancaster, PA 17603
      View Details
    • New
      $535,000
      3,475 SF

      Lancaster Mixed-Use Commercial Property

      Four-unit commercial property with storefront and residential apartments.
      353 E New St, Lancaster, PA 17602
      View Details
    • $320,000

      Established Turn-Key Business Opportunity

      Profitable gourmet food business in busy Lancaster market.
      23 Market St, Lancaster, PA 17603
      View Details
    • $75,000

      Turn-Key Pizzeria in Lancaster City

      Established pizzeria for sale in Lancaster City with high visibility.
      701 N Queen St, Lancaster, PA 17603
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property with garage, ideal for investors.
    Where is this duplex located?
    The property is located at 642 2Nd St Lancaster, PA.
    What is the asking price?
    The asking price for this property is $265,000.
    What are key features of this property?
    This property features: - Two Units: Includes a 1-bedroom and a 3-bedroom unit.; - 5-Car Garage: Accessed from Ocean Avenue, offering substantial vehicle or storage space.; - Carport: Additional covered parking.
    (717) 575-7557
    Request Owner's contact information
    642 2Nd St Lancaster, PA 17603
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    642 2Nd St
    Lancaster, PA 17603
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    642 2Nd St Lancaster, PA 17603
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Lisa Larsen
    Lisa Larsen
    Real Estate License ID: RS198457L
    (717) 575-7557
    Learn more
    Google sign-in failed. Please try again or use another login method.