Corner Brick Duplex With
1538 1st Avenue York, PA 17403
1538 1st Avenue, York, PA, 17403
$425,000
For Sale
$425,000
Brick duplex on a corner lot with separate utilities (water only) and private outdoor patio/storage space for each unit.
Property Size2,948 SF
Price / SF$144.17
Days on Market61
Property Features for 1538 1st Avenue
General Information
- Standard status
- Active
- Size
- 2,948 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1910
Listing agency
Iron Valley Real Estate of York County
(717) 357-0486
Listed by
Seth Tyler Trone · License #RS347868
(717) 357-0486
Source
Compass
Added: May 22 Updated: Jul 21 at 5:13AM Checked: Jul 21 at 5:13AM
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 Iron Valley Real Estate of York County
Investment Insights
Based on property information with market context.
Brick duplex located on a corner lot in the Elmwood area of East York. The first-floor unit is currently rented on a month-to-month lease and offers 1–2 bedrooms, a partially finished basement, hardwood floors, granite kitchen countertops, and a private back patio with storage shed, bar shed, and outdoor TV. The unit also includes off-street parking.
The second/third-floor unit provides 3–4 bedrooms and 2 bathrooms, with NEW central AC, a 2-car garage, and private patio space with a storage shed. All utilities are separated except water, and the landlord has been responsible for water/sewer/trash. An inspection has recently been completed with the township and is good until 03/20/2028, and the rental inspection document is available upon request.
This property offers two distinct living spaces within one building, each with its own outdoor patio and dedicated storage.
The second/third-floor unit provides 3–4 bedrooms and 2 bathrooms, with NEW central AC, a 2-car garage, and private patio space with a storage shed. All utilities are separated except water, and the landlord has been responsible for water/sewer/trash. An inspection has recently been completed with the township and is good until 03/20/2028, and the rental inspection document is available upon request.
This property offers two distinct living spaces within one building, each with its own outdoor patio and dedicated storage.
Key Highlights
- Brick duplex on a corner lot in the Elmwood neighborhood of East York, convenient to I‑83 and 30
- First‑floor unit currently rented on a month‑to‑month lease; includes hardwood floors, granite kitchen countertops, private back patio, and storage shed
- Second/third‑floor unit features 3‑4 BR and 2 full baths, plus new central AC and recent cosmetic upgrades
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $44.2k | $15.00 |
| − Vacancy | −$2.4k | −$0.83 |
| EGI | $41.8k | $14.17 |
| − OpEx | −$12.5k | −$4.25 |
| NOI | $29.3k | $9.92 |
2,948 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$417.9K
$365.7K – $487.5K
NOI $29,252 @ 7.0% cap · market cap 6.88%
Second Best
Apartment 5plus
$388.2K
$339.6K – $452.9K
NOI $27,171 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$853.5K
$746.9K – $995.8K
NOI $59,748 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Brick duplex on a corner lot with separate utilities (water only) and private outdoor patio/storage space for each unit.
Where is this duplex located?
The property is located at 1538 1st Avenue York, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Brick duplex on a corner lot in the Elmwood neighborhood of East York, convenient to I‑83 and 30; First‑floor unit currently rented on a month‑to‑month lease; includes hardwood floors, granite kitchen countertops, private back patio, and storage shed; Second/third‑floor unit features 3‑4 BR and 2 full baths, plus new central AC and recent cosmetic upgrades
