Detached Two-Unit
New
For Sale
$355,000
115 WASHINGTON AVENUE, Ephrata, PA 17522
Separate utilities, central HVAC, a detached garage, and off-street parking support flexible occupancy.
Property Size2,108 SF
Price / SF$168.41
Days on Market7
Property Features for 115 WASHINGTON AVENUE
General Information
Standard status
Active
Size
2,108 SF
Total Parking Spaces
3
Property subtype
Duplex
Additional Details
Multifamily Units
2
Amenities
central heat
central air conditioning
screened-in porch
balcony
laundry
Building Details
Year Built
1900
Listing Agency:
Cavalry Realty, LLC
(717) 283-3770
Listed By:
Faruk Sisic · License #RS280268
(717) 669-2603
Source:
Cummingsrealtors
Added: Sep 10
Changed: Sep 15
Last Checked: Sep 15 at 2:16PM
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 Cavalry Realty, LLC
Investment Insights
Based on property information with market context.
This detached duplex, built in 1900, contains 2,108 square feet across two residential units. The main-level unit includes two bedrooms, a bonus room, living and dining areas, a kitchen, one full bathroom, one half bathroom, laundry, and a screened-in porch. The upper unit provides three bedrooms, a living room, kitchen, stackable laundry, one full bathroom, and a balcony.
Each unit has central heat and central air conditioning, with separate utilities. The property includes a one-car detached garage and two off-street parking spaces. Water, sewer, and trash are currently paid by the owner. Located at 115 Washington Avenue in Ephrata, PA, the layout supports continued two-unit use with distinct living spaces and separate utility arrangements.
Each unit has central heat and central air conditioning, with separate utilities. The property includes a one-car detached garage and two off-street parking spaces. Water, sewer, and trash are currently paid by the owner. Located at 115 Washington Avenue in Ephrata, PA, the layout supports continued two-unit use with distinct living spaces and separate utility arrangements.
Key Highlights
- Two residential units totaling 2,108 square feet
- Main‑level unit with 2 bedrooms, bonus room, 1.5 bathrooms, laundry, and screened‑in porch
- Second‑floor unit with 3 bedrooms, 1 full bathroom, stackable laundry, and balcony
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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Open Analytics
Current Use
Lease Details
2
Residential units
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
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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 - Separate utilities, central HVAC, a detached garage, and off-street parking support flexible occupancy.
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: Two residential units totaling 2,108 square feet; Main‑level unit with 2 bedrooms, bonus room, 1.5 bathrooms, laundry, and screened‑in porch; Second‑floor unit with 3 bedrooms, 1 full bathroom, stackable laundry, and balcony
