Renovated End-Row
For Sale
$524,900
145 E Chestnut St, Lancaster, PA 17602
Historic masonry townhouse with two residences, garden space, updated interiors, and flexible off-street parking access.
Property Size3,800 SF
Lot Size0.09 Acres
Price / SF$138.13
Days on Market22
Property Features for 145 E Chestnut St
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.09 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 3BR
Multifamily Units
2
Additional Details
Asking Price
$549,900
Public Transit
Yes
Amenities
balcony
garden
full basement
Building Details
Year Built
1900
Year Renovated
2023
Construction
masonry
Listing Agency:
Coldwell Banker Realty
(215) 868-2450
Listed By:
Kate Bailey · License #RS320338
Source:
Lancorealestate
Added: Aug 9
Changed: Aug 29
Last Checked: Aug 29 at 4:09PM
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 two-unit end-of-row townhouse combines historic construction with substantial updates. Built in 1900 with masonry construction, the 3,800-square-foot property includes a 2BD residence on the first level and a 3BD residence across the second and third levels. Interior improvements include renovations to the upper floors in 2015, first-floor work in 2016, a third-floor bathroom remodel, kitchen improvements, and updated appliances in 2023. The property was repainted in 2019, and a new roof was installed in 2025.
Outdoor features include a landscaped backyard garden and a second-floor balcony overlooking the grounds. Formal dining rooms add usable common living space, while the full basement and extensive closet storage provide additional capacity. Off-street parking spaces may be leased directly behind the rear gate. The property is near parks, cafes, boutique shops, and public transportation in Lancaster.
Outdoor features include a landscaped backyard garden and a second-floor balcony overlooking the grounds. Formal dining rooms add usable common living space, while the full basement and extensive closet storage provide additional capacity. Off-street parking spaces may be leased directly behind the rear gate. The property is near parks, cafes, boutique shops, and public transportation in Lancaster.
Key Highlights
- Two‑unit layout with a 2BD first‑floor residence and 3BD upper‑level residence
- 3,800 square feet in a masonry end‑of‑row townhouse built in 1900
- Upper floors renovated 2015; first floor renovated 2016
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
$42,446
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
8.09%
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%
$848,920
$848.9K
Cap Rate 7%
$606,371
$606.4K
Cap Rate 9%
$471,622
$471.6K
Market Conditions
NOI Build-Up for 3,800 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
$61.6K $16.20/SF
− Vacancy
−$923 −$0.24/SF
EGI
$60.6K $15.96/SF
− OpEx
−$18.2K −$4.79/SF
NOI
$42.4K $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%
$848,920
Cap Rate 7%
$606,371
Cap Rate 9%
$471,622
Alternative Uses
Best Use
Multifamily LT 5
$606.4K
$530.6K – $707.4K
NOI $42,446 @ 7.0% cap · market cap 8.09%
Second Best
Apartment 5plus
$534.7K
$467.9K – $623.9K
NOI $37,432 @ 7.0% cap · market cap 7.13%
Theoretical Best
Office A
$1.27M
$1.11M – $1.49M
NOI $89,138 @ 7.0% cap · market cap 16.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,830
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
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 - Historic masonry townhouse with two residences, garden space, updated interiors, and flexible off-street parking access.
Where is this duplex located?
The property is located at 145 E Chestnut St Lancaster, PA.
What is the asking price?
The asking price for this property is $524,900.
What are key features of this property?
This property features: Two‑unit layout with a 2BD first‑floor residence and 3BD upper‑level residence; 3,800 square feet in a masonry end‑of‑row townhouse built in 1900; Upper floors renovated 2015; first floor renovated 2016
