Updated Duplex with
For Sale
$329,900
111 W FRANKLIN STREET, Ephrata, PA 17522
Two residential units offer refreshed interiors, separate utilities, and flexible owner-occupant or rental use.
Property Size2,248 SF
Price / SF$146.75
Days on Market12
Property Features for 111 W FRANKLIN STREET
General Information
Standard status
Active
Size
2,248 SF
Total Parking Spaces
2
Property subtype
Duplex
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1910
Buildings
1
Listing Agency:
EXP Realty, LLC
(717) 572-7236
Listed By:
Lisa Graham · License #RS337963
(717) 572-7236
Source:
Cummingsrealtors
Added: Aug 11
Changed: Aug 21
Last Checked: Aug 21 at 9:23AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXP Realty, LLC
Investment Insights
Based on property information with market context.
This 2,248-square-foot duplex, built in 1910, includes two separately metered residential units with refreshed interiors. Both residences have new LVP flooring, fresh paint, and high ceilings. Unit 111 includes a living room, dining room, kitchen, laundry room, full bathroom, and two to three bedrooms. Unit 113 offers similar main-level living areas, a spacious kitchen, a large laundry room, two bedrooms, two full bathrooms, and an office or flex room. Recent property improvements include a new roof and new electrical panels.
Each unit has a detached one-car garage with electricity. The garages provide parking, storage, or workshop space, and each has a manual door. Unit 111 is tenant occupied, with tenants interested in remaining. Both homes have backyard access, while Unit 113 also includes a deck. The property is in downtown Ephrata, within walking distance of shops, restaurants, and the rail trail, with public parking across the street.
Each unit has a detached one-car garage with electricity. The garages provide parking, storage, or workshop space, and each has a manual door. Unit 111 is tenant occupied, with tenants interested in remaining. Both homes have backyard access, while Unit 113 also includes a deck. The property is in downtown Ephrata, within walking distance of shops, restaurants, and the rail trail, with public parking across the street.
Key Highlights
- 2,248‑square‑foot duplex built in 1910
- Two units with separate utilities and electrical panels
- New roof, new LVP flooring, and fresh paint in both units
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
$25,110
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
7.61%
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%
$502,200
$502.2K
Cap Rate 7%
$358,714
$358.7K
Cap Rate 9%
$279,000
$279.0K
Market Conditions
NOI Build-Up for 2,248 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
$36.4K $16.20/SF
− Vacancy
−$546 −$0.24/SF
EGI
$35.9K $15.96/SF
− OpEx
−$10.8K −$4.79/SF
NOI
$25.1K $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%
$502,200
Cap Rate 7%
$358,714
Cap Rate 9%
$279,000
Alternative Uses
Best Use
Multifamily LT 5
$358.7K
$313.9K – $418.5K
NOI $25,110 @ 7.0% cap · market cap 7.61%
Second Best
Apartment 5plus
$316.3K
$276.8K – $369.1K
NOI $22,144 @ 7.0% cap · market cap 6.71%
Theoretical Best
Office A
$753.3K
$659.2K – $878.9K
NOI $52,732 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,110
Businesses Nearby
Explore this area
Business Placement
Demographics for 17522, PA
33,848
Population
13,837
Households
2.4
Avg Household Size
40
Median Age
24%
College-Educated
86%
High-School Grad
43.0 sq mi
ZIP Area
787
Density / Sq Mi
$71,865
Median Household Income
$42,588
Median Earnings
$1,171
Median Rent
$263,600
Median Home Value
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 - Two residential units offer refreshed interiors, separate utilities, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 111 W FRANKLIN STREET Ephrata, PA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: 2,248‑square‑foot duplex built in 1910; Two units with separate utilities and electrical panels; New roof, new LVP flooring, and fresh paint in both units
