Duplex with Detached
New
For Sale
$355,000
115 WASHINGTON Avenue, Ephrata, PA 17522
Multi-Family, EPHRATA, PA
Property Size2,108 SF
Lot Size0.11 Acres
Price / SF$168.41
Days on Market3
Property Features for 115 WASHINGTON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
3
Parking features
Garage - Detached, Off Street
High school
EPHRATA
Elementary school district
EPHRATA AREA
Middle school district
EPHRATA AREA
High school district
EPHRATA AREA
Standard status
Active
Size
2,108 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
5221
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
screened-in porch
balcony
Building Details
Year built
1900
Number of units
2
Building materials
Frame
Architectural style
Other
Listing Agency:
Cavalry Realty, LLC
(717) 283-3770
Listed By:
Faruk Sisic · License #RS280268
(717) 669-2603
Added: Sep 12
Last Checked: Sep 14 at 5:06AM
MLS# PALA2095366
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.
Located at 115 Washington Avenue in Ephrata, this 2,108-square-foot duplex was built in 1900 on a 0.11-acre lot. The main-level residence includes two bedrooms, a bonus room, one full bathroom, one half bathroom, laundry, a screened-in porch, living room, kitchen, and dining area. The upper unit contains three bedrooms, one full bathroom, a living room, kitchen, stackable laundry, and a balcony.
Both units have central heat, central air conditioning, and separate utilities. A detached one-car garage and two off-street parking spaces serve the property. The owner currently covers water, sewer, and trash. The layout supports separate occupancy, including an owner-occupant arrangement with one unit rented, as well as continued use as a two-unit rental property.
Both units have central heat, central air conditioning, and separate utilities. A detached one-car garage and two off-street parking spaces serve the property. The owner currently covers water, sewer, and trash. The layout supports separate occupancy, including an owner-occupant arrangement with one unit rented, as well as continued use as a two-unit rental property.
Key Highlights
- 2,108‑square‑foot detached duplex on a 0.11‑acre lot
- Two units with separate utilities and central heat and air conditioning
- Main‑level unit includes 2 bedrooms, bonus room, screened‑in porch, and 1.5 bathrooms
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
$23,546
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
6.63%
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%
$470,920
$470.9K
Cap Rate 7%
$336,371
$336.4K
Cap Rate 9%
$261,622
$261.6K
Market Conditions
NOI Build-Up for 2,108 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
$34.1K $16.20/SF
− Vacancy
−$512 −$0.24/SF
EGI
$33.6K $15.96/SF
− OpEx
−$10.1K −$4.79/SF
NOI
$23.5K $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%
$470,920
Cap Rate 7%
$336,371
Cap Rate 9%
$261,622
Alternative Uses
Best Use
Multifamily LT 5
$336.4K
$294.3K – $392.4K
NOI $23,546 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$296.6K
$259.6K – $346.1K
NOI $20,765 @ 7.0% cap · market cap 5.85%
Theoretical Best
Office A
$706.4K
$618.1K – $824.1K
NOI $49,448 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
684
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
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-unit property with separate utilities, parking, and a detached garage.
Where is this duplex located?
The property is located at 115 WASHINGTON Avenue Ephrata, PA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 2,108‑square‑foot detached duplex on a 0.11‑acre lot; Two units with separate utilities and central heat and air conditioning; Main‑level unit includes 2 bedrooms, bonus room, screened‑in porch, and 1.5 bathrooms
