Side-by-Side
For Sale
$240,000
Pending
640 3rd Street, Hanover, PA 17331
Side-by-side duplex offers flexibility for owner-occupancy or rental income.
Property Size2,176 SF
Days on Market13
Property Features for 640 3rd Street
General Information
Standard status
Pending
Size
2,176 SF
Property subtype
Multi-Family / Fee Simple
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 451-6786
Listed By:
Cynthia Forry · License #AB069782
(717) 451-6786
Source:
Compass
Added: Jul 20
Changed: Jul 21
Last Checked: Jul 31 at 11:03AM
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 side-by-side duplex provides flexible residential income potential, with the option for a homeowner to live in one unit and rent the other. The listing also notes potential for adding additional income-producing value as part of an investment portfolio.
The property is located in Adams County within the Conewago Twp area (MLS Area: Conewago Twp 14308). The school district is Conewago Valley, with New Oxford listed as the high school.
No further interior layout, condition, or unit configuration details are provided in the available information.
The property is located in Adams County within the Conewago Twp area (MLS Area: Conewago Twp 14308). The school district is Conewago Valley, with New Oxford listed as the high school.
No further interior layout, condition, or unit configuration details are provided in the available information.
Key Highlights
- Side‑by‑side duplex with flexibility for owner‑occupancy or rental income
- Built in 1910
- Outdoor features include a screened porch and a wrap‑around porch
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 | $32.6k | $15.00 |
| − Vacancy | −$1.8k | −$0.83 |
| EGI | $30.8k | $14.17 |
| − OpEx | −$9.3k | −$4.25 |
| NOI | $21.6k | $9.92 |
2,176 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$308.4K
$269.9K – $359.9K
NOI $21,591 @ 7.0% cap · market cap 9.00%
Second Best
Apartment 5plus
$286.5K
$250.7K – $334.3K
NOI $20,056 @ 7.0% cap · market cap 8.36%
Theoretical Best
Office A
$630.0K
$551.3K – $735.0K
NOI $44,102 @ 7.0% cap · market cap 18.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,638
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
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 - Side-by-side duplex offers flexibility for owner-occupancy or rental income.
Where is this duplex located?
The property is located at 640 3rd Street Hanover, PA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Side‑by‑side duplex with flexibility for owner‑occupancy or rental income; Built in 1910; Outdoor features include a screened porch and a wrap‑around porch
