Updated Downtown
For Sale
$399,900
Pending
146 North Cedar Street, Lititz, PA 17543
Residential duplex with refreshed interiors, two off-street parking spaces, and a walkable Lititz location.
Property Size2,052 SF
Days on Market171
Property Features for 146 North Cedar Street
General Information
Standard status
Pending
Size
2,052 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,114
Amenities
No
Replacement
Other
No Pool
Above Grade, Below Grade
Building Details
Year Built
1910
Listing Agency:
Keller Williams Elite
(717) 271-9540
Listed By:
Christian Will · License #RS350535c
(717) 271-9540
Source:
Compass
Added: Mar 13
Changed: Aug 30
Last Checked: Aug 30 at 4:51PM
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 Keller Williams Elite
Investment Insights
Based on property information with market context.
This 1910 duplex contains 2,052 square feet across two updated apartments. Improvements include modernized kitchens, bathrooms, and flooring, along with a newer roof, siding, and replacement windows. One apartment is occupied by a long-term month-to-month tenant, while the second is vacant following a recent renovation. The property is zoned RESIDENTIAL and includes two off-street parking spaces.
The duplex sits in Downtown Lititz, within walking distance of Lititz Springs Park, Main Street Lititz, and other downtown amenities. Its configuration provides an existing tenant arrangement alongside a renovated vacant unit, with flexibility for continued rental use or owner occupancy in one apartment.
The duplex sits in Downtown Lititz, within walking distance of Lititz Springs Park, Main Street Lititz, and other downtown amenities. Its configuration provides an existing tenant arrangement alongside a renovated vacant unit, with flexibility for continued rental use or owner occupancy in one apartment.
Key Highlights
- Two‑unit duplex with 2,052 square feet
- One apartment occupied by a long‑term month‑to‑month tenant
- Second apartment vacant after a fresh renovation
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
$22,921
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
5.73%
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%
$458,420
$458.4K
Cap Rate 7%
$327,443
$327.4K
Cap Rate 9%
$254,678
$254.7K
Market Conditions
NOI Build-Up for 2,052 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
$33.2K $16.20/SF
− Vacancy
−$499 −$0.24/SF
EGI
$32.7K $15.96/SF
− OpEx
−$9.8K −$4.79/SF
NOI
$22.9K $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%
$458,420
Cap Rate 7%
$327,443
Cap Rate 9%
$254,678
Alternative Uses
Best Use
Multifamily LT 5
$327.4K
$286.5K – $382.0K
NOI $22,921 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$288.8K
$252.7K – $336.9K
NOI $20,213 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$687.6K
$601.7K – $802.3K
NOI $48,135 @ 7.0% cap · market cap 12.04%
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
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 17543, PA
45,320
Population
18,762
Households
2.4
Avg Household Size
45
Median Age
40%
College-Educated
93%
High-School Grad
66.0 sq mi
ZIP Area
687
Density / Sq Mi
$94,609
Median Household Income
$53,146
Median Earnings
$1,347
Median Rent
$321,900
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 duplex with refreshed interiors, two off-street parking spaces, and a walkable Lititz location.
Where is this duplex located?
The property is located at 146 North Cedar Street Lititz, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,052 square feet; One apartment occupied by a long‑term month‑to‑month tenant; Second apartment vacant after a fresh renovation
