123 E WATER Street, Middletown, PA 17057
MULTI_FAMILY - Colonial - MIDDLETOWN, PA
- Added:
- Apr 23, 2026
- Days on Market:
- 52
- Last Refresh:
- Jun 13 at 11:06 am
Property Features for 123 E WATER Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Parking features
- On Street
- Interior features
- Attic, Bathroom - Tub Shower, Entry Level Bedroom, Floor Plan - Traditional, Wood Floors
- Appliances
- Refrigerator, Stove
- Standard status
- Active
- Size
- 1,460 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Annual Amount
- 2789
Utilities
- Heating system
- Radiant
Building Details
- Year built
- 1900
- Number of units
- 2
- Building materials
- Brick
- Architectural style
- Colonial
Listing agent Heather Mellinger License #RS315276 (717) 371-7616
Listing office Iron Valley Real Estate of Lancaster 1834 Oregon Pike unit: 11, Lancaster, PA (717) 740-2221
Listing date Apr 23, 2026
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- New roof already installed.
- Separate electric meters for each unit (includes heat).
- Potential to add a second bedroom to the upstairs apartment by renovating the attic.
- First and second‑floor windows have been replaced.
- Each unit has its own outdoor space.
- Property has natural gas hot water.
Overview
Local Financial Insights For Multifamily LT 5
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 | $20.1k | $13.80 |
| − Vacancy | −$1.5k | −$1.05 |
| EGI | $18.6k | $12.75 |
| − OpEx | −$5.6k | −$3.83 |
| NOI | $13.0k | $8.93 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Middletown
- County
- Dauphin
- State
- Pennsylvania
- Longitude
- -76.72857
- Latitude
- 40.19961
