Building Details

Year Built 1852

Construction brick

Listing Agency: Len Ferber Real Estate

Listed By: E. Leonard Ferber · License #3234119 Show Phone

Source: Yorkhomes

Added: Oct 26 Last Checked: Oct 28 at 5:37AM

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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 Len Ferber Real Estate

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Investment Insights

Based on property information with market context.

Built in 1852, this two-story brick residence is configured as two dwellings. The main home has five bedrooms, one and a half bathrooms, a living room, kitchen, parlor, and dining area. An attached, one-story apartment provides one bedroom, a full bathroom, and a kitchen.

A detached two-story garage and side carport accompany the home. Victorian exterior details remain in good condition; the roof was replaced several years ago and the brickwork has been repointed. The main residence’s interior requires painting, carpet work, and updating. The property is being sold as-is as part of an estate.

Key Highlights

• Two dwellings: a five‑bedroom main home and an attached one‑bedroom apartment
• Main residence is a two‑story brick home built in 1852
• Attached apartment has a full bathroom and kitchen

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$30,829

Cap Rate

6.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$616,580 $616.6K

Cap Rate 7%

$440,414 $440.4K

Cap Rate 9%

$342,544 $342.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,760 SF

Gross rent

$44.7K $16.20/SF

− Vacancy

−$671 −$0.24/SF

EGI

$44.0K $15.96/SF

− OpEx

−$13.2K −$4.79/SF

NOI

$30.8K $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 Rate 5%

$616,580

Cap Rate 7%

$440,414

Cap Rate 9%

$342,544

Alternative Uses

Best Use

Multifamily LT 5

$440.4K

$385.4K – $513.8K (±1% cap)

NOI $30,829 @ 7.0% cap · market cap 6.17%

Second Best

Apartment 5plus

$388.4K

$339.8K – $453.1K (±1% cap)

NOI $27,187 @ 7.0% cap · market cap 5.44%

Theoretical Best

Office A

$924.9K

$809.3K – $1.08M (±1% cap)

NOI $64,742 @ 7.0% cap · market cap 12.95%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

259

Businesses Nearby

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Demographics for 17579, PA

6,662

Population

2,213

Households

3

Avg Household Size

37

Median Age

31%

College-Educated

87%

High-School Grad

14.6 sq mi

ZIP Area

456

Density / Sq Mi

$82,298

Median Household Income

$37,990

Median Earnings

$1,056

Median Rent

$323,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Frequently Asked Questions

What type of property is this?

Duplex - An attached one-bedroom apartment complements the five-bedroom main residence, with a detached garage and side carport.

Where is this duplex located?

The property is located at 116 W Main Street Strasburg, PA.

What is the asking price?

The asking price for this property is $500,000.

What are key features of this property?

This property features: Two dwellings: a five‑bedroom main home and an attached one‑bedroom apartment; Main residence is a two‑story brick home built in 1852; Attached apartment has a full bathroom and kitchen