Two-Unit Duplex
For Sale
$259,900
Pending
14 AND 14 1/2 RIDGE AVE, Hanover, PA 17331
Two-unit residential configuration with established building character and separate living accommodations.
Property Size1,865 SF
Days on Market54
Property Features for 14 AND 14 1/2 RIDGE AVE
General Information
Standard status
Pending
Size
1,865 SF
Property subtype
Multi-family
Listing Agency:
RE/MAX Quality Service, Inc.
(717) 632-5111
Listed By:
Ellen J Brown · License #RS198499L
(717) 476-2943
Source:
Hostetterrealty
Added: Aug 24
Changed: Oct 7
Last Checked: Oct 16 at 9:07AM
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 RE/MAX Quality Service, Inc.
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Investment Insights
Based on property information with market context.
This duplex property contains 1,865 square feet across its two-unit configuration, providing separate residential accommodations within one building. Constructed in 1910, the property offers an established residential structure suited to buyers seeking a small multifamily asset.
The property is located at 14 and 14 1/2 Ridge Avenue in Hanover, Pennsylvania 17331.
The property is located at 14 and 14 1/2 Ridge Avenue in Hanover, Pennsylvania 17331.
Key Highlights
- Duplex with two residential units
- 1,865 square feet of building area
- Constructed in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,505
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,100
$370.1K
Cap Rate 7%
$264,357
$264.4K
Cap Rate 9%
$205,611
$205.6K
Market Conditions
NOI Build-Up for 1,865 SF
Gross rent
$28.0K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$26.4K $14.17/SF
− OpEx
−$7.9K −$4.25/SF
NOI
$18.5K $9.92/SF
Area
York County, PA
Vacancy
5.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$370,100
Cap Rate 7%
$264,357
Cap Rate 9%
$205,611
Alternative Uses
Best Use
Multifamily LT 5
$264.4K
$231.3K – $308.4K
NOI $18,505 @ 7.0% cap · market cap 7.12%
Second Best
Apartment 5plus
$245.6K
$214.9K – $286.5K
NOI $17,190 @ 7.0% cap · market cap 6.61%
Theoretical Best
Office A
$540.0K
$472.5K – $630.0K
NOI $37,799 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
754
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential configuration with established building character and separate living accommodations.
Where is this duplex located?
The property is located at 14 AND 14 1/2 RIDGE AVE Hanover, PA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Duplex with two residential units; 1,865 square feet of building area; Constructed in 1910
