Two-Unit Residential Income
1228 Broadway Hanover, PA 17331
For Sale
$285,000
A versatile two-unit home with separate living areas, basement laundry hookups, and off-street parking for tenants or owner-occupants.
Property Size2,674 SF
Price / SF$106.58
Days on Market90
Property Features for 1228 Broadway
General Information
- Standard status
- Active
- Size
- 2,674 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 676-0507
Listed By:
Selina A Robinson · License #RS280700
(717) 676-0507
Source:
Compass
Added: Apr 28
Changed: Jul 10
Last Checked: Jul 26 at 11:58AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This solid two-unit duplex features a concrete block and brick facade. Unit 1 is on the main level with one bedroom, a living room, a full bath, a large eat-in kitchen, and a walk-in pantry. Unit 2 spans the second and third floors and includes three bedrooms, a living room on the third floor, an entrance mud room, a full bath, a kitchen/dining area, and a small office space or walk-in pantry. Both units offer ample closet space, storage, and laundry hookups in the basement.
The property is located in the North End of the Hanover Borough, with convenient access to commuter routes and close proximity to shopping, restaurants, and everyday amenities.
For buyers seeking rental income or a live-in setup, the layout supports separate unit living with dedicated spaces across two levels. The basement laundry hookups and plentiful off-street parking add day-to-day convenience for both tenants and guests.
The property is located in the North End of the Hanover Borough, with convenient access to commuter routes and close proximity to shopping, restaurants, and everyday amenities.
For buyers seeking rental income or a live-in setup, the layout supports separate unit living with dedicated spaces across two levels. The basement laundry hookups and plentiful off-street parking add day-to-day convenience for both tenants and guests.
Key Highlights
- Solid 2‑unit property with concrete block and brick facade (built 1900)
- Unit 1 on the main level: 1 bedroom, living room, full bath, large eat‑in kitchen, and walk‑in pantry
- Unit 2 spans the 2nd and 3rd floors: 3 bedrooms, living room, full bath, kitchen/dining, and small office or walk‑in pantry
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.2k | $17.64 |
| − Vacancy | −$2.4k | −$0.88 |
| EGI | $44.8k | $16.76 |
| − OpEx | −$20.2k | −$7.54 |
| NOI | $24.6k | $9.22 |
2,674 SF · lease $17.64/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$379.0K
$331.7K – $442.2K
NOI $26,533 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$352.1K
$308.1K – $410.8K
NOI $24,646 @ 7.0% cap · market cap 8.65%
Theoretical Best
Office A
$774.2K
$677.4K – $903.3K
NOI $54,195 @ 7.0% cap · market cap 19.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - A versatile two-unit home with separate living areas, basement laundry hookups, and off-street parking for tenants or owner-occupants.
Where is this duplex located?
The property is located at 1228 Broadway Hanover, PA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Solid 2‑unit property with concrete block and brick facade (built 1900); Unit 1 on the main level: 1 bedroom, living room, full bath, large eat‑in kitchen, and walk‑in pantry; Unit 2 spans the 2nd and 3rd floors: 3 bedrooms, living room, full bath, kitchen/dining, and small office or walk‑in pantry
