2-Unit Brick and Block
New
For Sale
$269,900
1228 BROADWAY, Hanover, PA 17331
Separate apartments offer one- and three-bedroom layouts, with laundry hookups and storage in the basement.
Property Size2,674 SF
Price / SF$100.93
Days on Market5
Property Features for 1228 BROADWAY
General Information
Standard status
Active
Size
2,674 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Amenities
laundry hookups
off-street parking
storage
Building Details
Buildings
1
Construction
concrete block and brick
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 235-9050
Listed By:
Selina A Robinson · License #RS280700
(717) 676-0507
Source:
Towncentermd
Added: Oct 9
Changed: Oct 10
Last Checked: Oct 12 at 8:28PM
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 2,674-square-foot duplex contains two apartments behind a concrete block and brick facade. The main-floor unit has one bedroom, a living room, full bath, eat-in kitchen, and walk-in pantry. The second apartment occupies the upper two floors and includes three bedrooms, a living room, full bath, kitchen and dining area, plus a small office or pantry. Both units have closet space, and the basement provides storage and laundry hookups.
Off-street parking serves the property. Shopping, restaurants, and everyday amenities are nearby, with access to commuter routes.
Off-street parking serves the property. Shopping, restaurants, and everyday amenities are nearby, with access to commuter routes.
Key Highlights
- Two‑apartment duplex totaling 2,674 square feet
- Concrete block construction with a brick facade
- Main‑level unit includes one bedroom, eat‑in kitchen, full bath, and walk‑in pantry
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,646
Cap Rate
9.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,920
$492.9K
Cap Rate 7%
$352,086
$352.1K
Cap Rate 9%
$273,844
$273.8K
Market Conditions
NOI Build-Up for 2,674 SF
Gross rent
$47.2K $17.64/SF
− Vacancy
−$2.4K −$0.88/SF
EGI
$44.8K $16.76/SF
− OpEx
−$20.2K −$7.54/SF
NOI
$24.6K $9.22/SF
Area
York County, PA
Vacancy
5.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,920
Cap Rate 7%
$352,086
Cap Rate 9%
$273,844
Alternative Uses
Best Use
Multifamily LT 5
$379.0K
$331.7K – $442.2K
NOI $26,533 @ 7.0% cap · market cap 9.83%
Second Best
Apartment 5plus
$352.1K
$308.1K – $410.8K
NOI $24,646 @ 7.0% cap · market cap 9.13%
Theoretical Best
Office A
$774.2K
$677.4K – $903.3K
NOI $54,195 @ 7.0% cap · market cap 20.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
571
Businesses Nearby
Explore this area
Business Placement
Demographics for 17331, PA
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
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 apartments offer one- and three-bedroom layouts, with laundry hookups and storage in the basement.
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 $269,900.
What are key features of this property?
This property features: Two‑apartment duplex totaling 2,674 square feet; Concrete block construction with a brick facade; Main‑level unit includes one bedroom, eat‑in kitchen, full bath, and walk‑in pantry
