Remodeled Two-Unit
For Sale
$240,000
142 South Poplar Street, Elizabethtown, PA 17022
Residential property with updated upper-level finishes, basement laundry hookups, attic storage, and rear off-street parking.
Property Size1,742 SF
Price / SF$137.77
Days on Market112
Property Features for 142 South Poplar Street
General Information
Standard status
Active
Size
1,742 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Taxes and HOA fees
Annual Taxes
$3,099
Amenities
No
No Pool
Building Details
Year Built
1900
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 575-8076
Listed By:
Phil Kuntz · License #RS301741
(717) 575-8076
Source:
Compass
Added: May 12
Changed: Aug 30
Last Checked: Aug 30 at 3:26PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
Built in 1900, this 1,742-square-foot residential duplex contains two one-bedroom units, each equipped with electric baseboard heat. The second-floor apartment has been extensively updated with new kitchen cabinetry, countertops, a stove, microwave, bathroom fixtures, flooring, and laminate flooring throughout the remaining living areas. It also includes attic access for storage. The first-floor apartment has newly installed bathroom flooring.
Additional property features include washer and dryer hookups in the basement, off-street parking behind the building, and a front porch. New siding and gutters were installed in 2016, and all sewer piping was replaced in fall 2025. Both units are leased through 2026, with month-to-month tenancy following the stated lease terms. The property is zoned RESIDENTIAL and is located near downtown Elizabethtown and local amenities.
Additional property features include washer and dryer hookups in the basement, off-street parking behind the building, and a front porch. New siding and gutters were installed in 2016, and all sewer piping was replaced in fall 2025. Both units are leased through 2026, with month-to-month tenancy following the stated lease terms. The property is zoned RESIDENTIAL and is located near downtown Elizabethtown and local amenities.
Key Highlights
- Two one‑bedroom units totaling 1,742 square feet
- Second‑floor unit remodeled with updated kitchen, bathroom, and laminate flooring
- Electric baseboard heat in both apartments
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
$19,458
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
8.11%
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%
$389,160
$389.2K
Cap Rate 7%
$277,971
$278.0K
Cap Rate 9%
$216,200
$216.2K
Market Conditions
NOI Build-Up for 1,742 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
$28.2K $16.20/SF
− Vacancy
−$423 −$0.24/SF
EGI
$27.8K $15.96/SF
− OpEx
−$8.3K −$4.79/SF
NOI
$19.5K $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%
$389,160
Cap Rate 7%
$277,971
Cap Rate 9%
$216,200
Alternative Uses
Best Use
Multifamily LT 5
$278.0K
$243.2K – $324.3K
NOI $19,458 @ 7.0% cap · market cap 8.11%
Second Best
Apartment 5plus
$245.1K
$214.5K – $286.0K
NOI $17,160 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$583.8K
$510.8K – $681.1K
NOI $40,863 @ 7.0% cap · market cap 17.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
701
Businesses Nearby
Explore this area
Business Placement
Demographics for 17022, PA
31,163
Population
12,950
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
93%
High-School Grad
55.0 sq mi
ZIP Area
567
Density / Sq Mi
$79,075
Median Household Income
$42,844
Median Earnings
$1,381
Median Rent
$272,700
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Residential property with updated upper-level finishes, basement laundry hookups, attic storage, and rear off-street parking.
Where is this duplex located?
The property is located at 142 South Poplar Street Elizabethtown, PA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two one‑bedroom units totaling 1,742 square feet; Second‑floor unit remodeled with updated kitchen, bathroom, and laminate flooring; Electric baseboard heat in both apartments
