Two-Unit Masonry
For Sale
$524,900
145 E CHESTNUT Street, Lancaster, PA 17602
MULTI_FAMILY - Other - LANCASTER, PA
Property Size3,800 SF
Lot Size0.09 Acres
Price / SF$138.13
Days on Market92
Property Features for 145 E CHESTNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Elementary school district
SCHOOL DISTRICT OF LANCASTER
Middle school district
SCHOOL DISTRICT OF LANCASTER
High school district
SCHOOL DISTRICT OF LANCASTER
Standard status
Active
Size
3,800 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
7875
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Amenities
balcony
garden
Building Details
Year built
1900
Number of units
2
Building materials
Masonry
Architectural style
Other
Listing Agency:
Coldwell Banker Realty · Coldwell Banker Real Estate
(610) 363-6006
Listed By:
Kate Bailey · License #RS320338
(215) 868-2450
Added: May 13
Changed: Aug 12
Last Checked: Aug 12 at 2:06PM
MLS# PALA2087006
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1900 masonry townhouse is configured as a duplex with a two-bedroom residence on the first level and a three-bedroom residence across the second and third levels. The property contains 3,800 square feet on a 0.09-acre lot, with formal dining rooms, substantial closet space, a full basement, and an upper-level balcony overlooking the garden. Window unit cooling and other heating are in place.
Improvements include renovation of the second and third floors in 2015, first-floor renovation in 2016, a whole-property repaint in 2019, and updates to the third-floor bathroom, kitchen, and appliances in 2023. A large tree was removed and a new roof was installed in 2025. The Lancaster setting provides access to local parks, cafes, boutique shops, and public transportation.
Improvements include renovation of the second and third floors in 2015, first-floor renovation in 2016, a whole-property repaint in 2019, and updates to the third-floor bathroom, kitchen, and appliances in 2023. A large tree was removed and a new roof was installed in 2025. The Lancaster setting provides access to local parks, cafes, boutique shops, and public transportation.
Key Highlights
- Duplex layout with a 2BD first‑floor unit and a 3BD unit spanning the 2nd and 3rd levels
- 3,800 sq. ft. property on a 0.09‑acre lot
- 2nd and 3rd floors renovated in 2015; 1st floor renovated in 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
1,113
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 - End-of-row duplex with a garden, balcony, full basement, and convenient access to parks, cafes, shops, and public transportation.
Where is this duplex located?
The property is located at 145 E CHESTNUT Street 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: Duplex layout with a 2BD first‑floor unit and a 3BD unit spanning the 2nd and 3rd levels; 3,800 sq. ft. property on a 0.09‑acre lot; 2nd and 3rd floors renovated in 2015; 1st floor renovated in 2016
