Duplex with Detached
New
For Sale
$249,900
12101 PEN MAR ROAD, Waynesboro, PA 17268
Two separately entered units offer private parking, updated electrical service, and basement laundry hookups.
Property Size1,920 SF
Price / SF$130.16
Days on Market5
Property Features for 12101 PEN MAR ROAD
General Information
Standard status
Active
Size
1,920 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
basement laundry hookups
Building Details
Year Built
1961
Listing Agency:
Coldwell Banker Realty
(717) 762-7111
Listed By:
Matthew E Gunder · License #599676
(717) 729-8027
Source:
Cummingsrealtors
Added: Sep 10
Changed: Sep 13
Last Checked: Sep 13 at 2:58PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1,920-square-foot duplex, built in 1961, contains two 2-bedroom, 1-bath residences of roughly 960 square feet each. Both units feature LVP flooring, electric baseboard heat, replacement windows, basement laundry hookups, and distinct front and rear entrances. Separate electric meters and updated 200-amp electrical service support independent unit operation. A new roof is scheduled for 2026, and Unit B includes a detached garage.
Located at 12101 Pen Mar Road in Waynesboro, the property also provides private driveway parking. Water and sewer are served through a single connection, with tenants contributing toward water, sewer, and trash expenses. Unit A is occupied, while Unit B is being painted following the prior tenant’s move-out and is expected to be ready when the listing becomes active.
Located at 12101 Pen Mar Road in Waynesboro, the property also provides private driveway parking. Water and sewer are served through a single connection, with tenants contributing toward water, sewer, and trash expenses. Unit A is occupied, while Unit B is being painted following the prior tenant’s move-out and is expected to be ready when the listing becomes active.
Key Highlights
- Two 2‑bedroom, 1‑bath units totaling 1,920 square feet
- Roughly 960 square feet per unit
- Separate electric meters with updated 200‑amp electrical service
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
$19,096
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
7.64%
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%
$381,920
$381.9K
Cap Rate 7%
$272,800
$272.8K
Cap Rate 9%
$212,178
$212.2K
Market Conditions
NOI Build-Up for 1,920 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
$29.5K $15.36/SF
− Vacancy
−$2.2K −$1.15/SF
EGI
$27.3K $14.21/SF
− OpEx
−$8.2K −$4.26/SF
NOI
$19.1K $9.95/SF
Area
Franklin County, PA
Vacancy
7.50%
Lease Rate
$15.36 /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%
$381,920
Cap Rate 7%
$272,800
Cap Rate 9%
$212,178
Alternative Uses
Best Use
Multifamily LT 5
$272.8K
$238.7K – $318.3K
NOI $19,096 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$246.3K
$215.5K – $287.4K
NOI $17,243 @ 7.0% cap · market cap 6.90%
Theoretical Best
Office A
$465.5K
$407.4K – $543.1K
NOI $32,588 @ 7.0% cap · market cap 13.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
126
Businesses Nearby
Explore this area
Business Placement
Demographics for 17268, PA
29,587
Population
12,693
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
77.8 sq mi
ZIP Area
380
Density / Sq Mi
$69,715
Median Household Income
$44,106
Median Earnings
$1,081
Median Rent
$225,900
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 separately entered units offer private parking, updated electrical service, and basement laundry hookups.
Where is this duplex located?
The property is located at 12101 PEN MAR ROAD Waynesboro, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two 2‑bedroom, 1‑bath units totaling 1,920 square feet; Roughly 960 square feet per unit; Separate electric meters with updated 200‑amp electrical service
