Building Details

Year Built 1900

Listing Agency: Realty Professional Group LLC r***@gmail.com Show Phone

Listed By: Adam Lewis · License #RS321419 Show Phone

Source: Compass

Added: Jun 16 Changed: Aug 11 Last Checked: Aug 11 at 1:05PM

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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 Realty Professional Group LLC

Investment Insights

Based on property information with market context.

This duplex contains two three-bedroom residences within a 2,754-square-foot property built in 1900. The unit at 132 E State St has one full bathroom, while 130 E State St includes one full and one-half bathroom. Each residence has its own oil-fired hot water radiant heating system and separate utility metering. The property is zoned MIXED-USE.

A detached two-car garage and a four-space off-street parking lot provide on-site vehicle accommodations. The property is located at 130-132 East State Street in Quarryville, Pennsylvania, within Quarryville Boro and the Solanco School District.

Key Highlights

• Duplex with two 3‑bedroom units
• 2,754‑square‑foot property built in 1900
• 132 E State St has 1 full bathroom; 130 E State St has 1.5 bathrooms

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

$30,762

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

7.50%

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%

$615,240 $615.2K

Cap Rate 7%

$439,457 $439.5K

Cap Rate 9%

$341,800 $341.8K

Market Conditions

NOI Build-Up for 2,754 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

$44.6K $16.20/SF

− Vacancy

−$669 −$0.24/SF

EGI

$43.9K $15.96/SF

− OpEx

−$13.2K −$4.79/SF

NOI

$30.8K $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%

$615,240

Cap Rate 7%

$439,457

Cap Rate 9%

$341,800

Alternative Uses

Best Use

Multifamily LT 5

$439.5K

$384.5K – $512.7K (±1% cap)

NOI $30,762 @ 7.0% cap · market cap 7.50%

Second Best

Apartment 5plus

$387.5K

$339.1K – $452.1K (±1% cap)

NOI $27,128 @ 7.0% cap · market cap 6.62%

Theoretical Best

Office A

$922.9K

$807.5K – $1.08M (±1% cap)

NOI $64,602 @ 7.0% cap · market cap 15.76%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Electrical Service (Bike/Boat/Book/etc) Store Furniture & Home Goods Spa & Massage Center Carpet & Flooring Store Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

372

Businesses Nearby

Explore this area Business Placement

Demographics for 17566, PA

12,724

Population

4,367

Households

2.9

Avg Household Size

36

Median Age

20%

College-Educated

80%

High-School Grad

59.6 sq mi

ZIP Area

213

Density / Sq Mi

$73,545

Median Household Income

$41,802

Median Earnings

$1,229

Median Rent

$284,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Duplex - Two separately metered residences with individual heating systems and dedicated off-street parking serve the property.

Where is this duplex located?

The property is located at 130-132 East State Street Quarryville, PA.

What is the asking price?

The asking price for this property is $409,900.

What are key features of this property?

This property features: Duplex with two 3‑bedroom units; 2,754‑square‑foot property built in 1900; 132 E State St has 1 full bathroom; 130 E State St has 1.5 bathrooms