Two-Story Brick
For Sale
$390,000
1240 MANOR ST, Columbia, PA 17512
Two mirrored units include two bedrooms, eat-in kitchens, and access to a private backyard.
Property Size2,775 SF
Price / SF$140.54
Days on Market49
Property Features for 1240 MANOR ST
General Information
Standard status
Active
Size
2,775 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
backyard
washer/dryer
Building Details
Buildings
2
Stories
2
Construction
brick
Listing Agency:
Kingsway Realty - Lancaster
(717) 517-0407
Listed By:
Christine Nolt · License #RS332150
(717) 517-0407
Source:
Towncentermd
Added: Jul 12
Changed: Aug 29
Last Checked: Aug 29 at 11:42AM
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 Kingsway Realty - Lancaster
Investment Insights
Based on property information with market context.
This two-story brick duplex contains two similarly configured residential units, each offering nearly 1,400 square feet with two bedrooms, original hardwood floors, an eat-in kitchen, and spacious living areas. Separate heat pumps provide heating and cooling for each unit. A clean basement includes shared-use washers and dryers, while off-street parking and a large private backyard serve the residential occupants.
At the rear of the lot, a 36’ x 26’ pool barn is leased separately from the apartments, providing an additional income-producing component. The property is located at 1240 Manor St in Columbia, PA 17512. Tenants pay electric service, including heat; ownership covers water, sewer, and trash.
At the rear of the lot, a 36’ x 26’ pool barn is leased separately from the apartments, providing an additional income-producing component. The property is located at 1240 Manor St in Columbia, PA 17512. Tenants pay electric service, including heat; ownership covers water, sewer, and trash.
Key Highlights
- Two‑story brick duplex with two residential units
- Nearly 1,400 square feet per unit with two bedrooms
- 36’ x 26’ pool barn leased separately
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
$30,996
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
7.95%
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%
$619,920
$619.9K
Cap Rate 7%
$442,800
$442.8K
Cap Rate 9%
$344,400
$344.4K
Market Conditions
NOI Build-Up for 2,775 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
$45.0K $16.20/SF
− Vacancy
−$674 −$0.24/SF
EGI
$44.3K $15.96/SF
− OpEx
−$13.3K −$4.79/SF
NOI
$31.0K $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 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%
$619,920
Cap Rate 7%
$442,800
Cap Rate 9%
$344,400
Alternative Uses
Best Use
Multifamily LT 5
$442.8K
$387.5K – $516.6K
NOI $30,996 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$390.5K
$341.7K – $455.6K
NOI $27,335 @ 7.0% cap · market cap 7.01%
Theoretical Best
Office A
$929.9K
$813.7K – $1.08M
NOI $65,094 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 17512, PA
18,267
Population
8,255
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
16.0 sq mi
ZIP Area
1,142
Density / Sq Mi
$61,130
Median Household Income
$42,702
Median Earnings
$1,067
Median Rent
$221,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two mirrored units include two bedrooms, eat-in kitchens, and access to a private backyard.
Where is this duplex located?
The property is located at 1240 MANOR ST Columbia, PA.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Two‑story brick duplex with two residential units; Nearly 1,400 square feet per unit with two bedrooms; 36’ x 26’ pool barn leased separately
