Listing Agency: Yorktowne Property Shoppe, LLC m***@ifhbuyers.com Show Phone

Listed By: Michael S Kushla II · License #AB069352 Show Phone

Source: Exprealty

Added: Jul 15, 2024 Changed: Aug 21 Last Checked: Aug 21 at 11:45AM

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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 Yorktowne Property Shoppe, LLC

Investment Insights

Based on property information with market context.

This 1,573-square-foot duplex contains two one-bedroom residences arranged across separate levels. The first-floor unit includes a large basement, while the upstairs residence features an open interior layout and abundant natural light. The property has received ongoing updates over time and is described as being in very good condition.

The first-floor occupant has remained in place for 20+ years and intends to continue occupying the unit. Located at 404 N 2nd St in Wormleysburg, Pennsylvania, the property offers a two-unit configuration with distinct floor plans and a useful lower-level basement.

Key Highlights

• 1,573‑square‑foot duplex with two one‑bedroom units
• First‑floor residence includes a large basement
• Upstairs unit has open rooms and abundant natural light

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

$14,966

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

8.80%

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%

$299,320 $299.3K

Cap Rate 7%

$213,800 $213.8K

Cap Rate 9%

$166,289 $166.3K

Market Conditions

NOI Build-Up for 1,573 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

$22.7K $14.40/SF

− Vacancy

−$1.3K −$0.81/SF

EGI

$21.4K $13.59/SF

− OpEx

−$6.4K −$4.08/SF

NOI

$15.0K $9.51/SF

Area

Cumberland County, PA

Vacancy

5.61%

Lease Rate

$14.40 /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%

$299,320

Cap Rate 7%

$213,800

Cap Rate 9%

$166,289

Alternative Uses

Best Use

Multifamily LT 5

$213.8K

$187.1K – $249.4K (±1% cap)

NOI $14,966 @ 7.0% cap · market cap 8.80%

Second Best

Apartment 5plus

$189.8K

$166.1K – $221.4K (±1% cap)

NOI $13,286 @ 7.0% cap · market cap 7.82%

Theoretical Best

Office A

$365.4K

$319.7K – $426.3K (±1% cap)

NOI $25,578 @ 7.0% cap · market cap 15.05%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Dental Office Furniture & Home Goods (Bike/Boat/Book/etc) Store Garden Center Carpet & Flooring Store Discount Store

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

Location Intelligence

Trade Area within ½ mile

516

Businesses Nearby

Explore this area Business Placement

Demographics for 17043, PA

6,184

Population

3,037

Households

2

Avg Household Size

41

Median Age

37%

College-Educated

92%

High-School Grad

2.1 sq mi

ZIP Area

2,945

Density / Sq Mi

$66,752

Median Household Income

$46,436

Median Earnings

$968

Median Rent

$216,300

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 one-bedroom residences occupy separate floors, with a basement included in the lower unit.

Where is this duplex located?

The property is located at 404 N 2nd St Wormleysburg, PA.

What is the asking price?

The asking price for this property is $169,995.

What are key features of this property?

This property features: 1,573‑square‑foot duplex with two one‑bedroom units; First‑floor residence includes a large basement; Upstairs unit has open rooms and abundant natural light