Side-by-Side
For Sale
$327,900
Pending
217-219 North Linden Avenue, Greencastle, PA 17225
R2-zoned income property with two-bedroom units, decks, and one residence available for occupancy.
Property Size2,128 SF
Days on Market171
Property Features for 217-219 North Linden Avenue
General Information
Standard status
Pending
Size
2,128 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R2
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,810
Amenities
Oven/Range - Electric, Refrigerator
No Pool
Deck(s)
Building Details
Year Built
1986
Buildings
1
Listing Agency:
Coldwell Banker Realty
(717) 597-1528
Listed By:
Scott A Palmer · License #AB050982L
(717) 597-1528
Source:
Compass
Added: Mar 13
Changed: Aug 30
Last Checked: Aug 30 at 5:17AM
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 side-by-side duplex contains 2,128 square feet and was built in 1986. Each residence offers two bedrooms and one-and-a-half baths, with updates completed over time. Both units include electric oven/ranges and refrigerators, while exterior decks provide additional outdoor space.
One unit is occupied by a tenant, and the other is available for owner occupancy or leasing. Under the current arrangement, the tenant pays all utilities and handles lawn care and snow removal. The property is located at 217-219 North Linden Avenue in Greencastle, within the Greencastle-Antrim School District and the 17225 postal area.
One unit is occupied by a tenant, and the other is available for owner occupancy or leasing. Under the current arrangement, the tenant pays all utilities and handles lawn care and snow removal. The property is located at 217-219 North Linden Avenue in Greencastle, within the Greencastle-Antrim School District and the 17225 postal area.
Key Highlights
- 2,128 SF side‑by‑side duplex built in 1986
- Two 2‑bedroom, 1 1/2‑bath units
- R2 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
$21,164
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
6.45%
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%
$423,280
$423.3K
Cap Rate 7%
$302,343
$302.3K
Cap Rate 9%
$235,156
$235.2K
Market Conditions
NOI Build-Up for 2,128 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
$32.7K $15.36/SF
− Vacancy
−$2.5K −$1.15/SF
EGI
$30.2K $14.21/SF
− OpEx
−$9.1K −$4.26/SF
NOI
$21.2K $9.95/SF
Area
Franklin County, PA
Vacancy
7.50%
Lease Rate
$15.36 /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%
$423,280
Cap Rate 7%
$302,343
Cap Rate 9%
$235,156
Alternative Uses
Best Use
Multifamily LT 5
$302.3K
$264.6K – $352.7K
NOI $21,164 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$273.0K
$238.9K – $318.5K
NOI $19,111 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$516.0K
$451.5K – $602.0K
NOI $36,118 @ 7.0% cap · market cap 11.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Explore this area
Business Placement
Demographics for 17225, PA
20,199
Population
8,132
Households
2.5
Avg Household Size
42
Median Age
25%
College-Educated
92%
High-School Grad
81.8 sq mi
ZIP Area
247
Density / Sq Mi
$87,245
Median Household Income
$46,317
Median Earnings
$969
Median Rent
$266,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned income property with two-bedroom units, decks, and one residence available for occupancy.
Where is this duplex located?
The property is located at 217-219 North Linden Avenue Greencastle, PA.
What is the asking price?
The asking price for this property is $327,900.
What are key features of this property?
This property features: 2,128 SF side‑by‑side duplex built in 1986; Two 2‑bedroom, 1 1/2‑bath units; R2 zoning
