Traditional Residential Income
For Sale
$416,000
129 W MAIN, Palmyra, PA 17078
Traditional residential income property with electric heating, cooling, and water heating.
Property Size3,400 SF
Price / SF$122.35
Days on Market23
Property Features for 129 W MAIN
General Information
Standard status
Active
Size
3,400 SF
Property subtype
Multi-Family
Listing Agency:
Coldwell Banker Realty
(717) 679-0856
Listed By:
Michael Gordon · License #RS250223
(717) 679-0856
Source:
Keygroupmd
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 30 at 5:38PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This residential income property contains 3,400 square feet and was built in 1940. The property has a traditional exterior, electric water heating, and electric heating and cooling components that include central, baseboard, and window-unit systems.
The site occupies a corner at Main Street and Locust Street in Palmyra, Pennsylvania, with on-street parking. Residential zoning supports its residential income property classification.
The site occupies a corner at Main Street and Locust Street in Palmyra, Pennsylvania, with on-street parking. Residential zoning supports its residential income property classification.
Key Highlights
- 3,400‑square‑foot residential income property
- Built in 1940
- Residential zoning
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
$28,234
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
6.79%
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%
$564,680
$564.7K
Cap Rate 7%
$403,343
$403.3K
Cap Rate 9%
$313,711
$313.7K
Market Conditions
NOI Build-Up for 3,400 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
$55.1K $16.20/SF
− Vacancy
−$3.7K −$1.10/SF
EGI
$51.3K $15.10/SF
− OpEx
−$23.1K −$6.79/SF
NOI
$28.2K $8.30/SF
Area
Lebanon County, PA
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
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%
$564,680
Cap Rate 7%
$403,343
Cap Rate 9%
$313,711
Alternative Uses
Best Use
Apartment 5plus
$403.3K
$352.9K – $470.6K
NOI $28,234 @ 7.0% cap · market cap 6.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$798.0K
$698.3K – $931.1K
NOI $55,863 @ 7.0% cap · market cap 13.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
480
Businesses Nearby
Explore this area
Business Placement
Demographics for 17078, PA
23,496
Population
9,602
Households
2.4
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
30.1 sq mi
ZIP Area
781
Density / Sq Mi
$84,533
Median Household Income
$47,141
Median Earnings
$1,252
Median Rent
$278,300
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Traditional residential income property with electric heating, cooling, and water heating.
Where is this residential income property located?
The property is located at 129 W MAIN Palmyra, PA.
What is the asking price?
The asking price for this property is $416,000.
What are key features of this property?
This property features: 3,400‑square‑foot residential income property; Built in 1940; Residential zoning
