Two-Home Multifamily
For Sale
$350,000
2017 MILLCREEK Road, Lancaster, PA 17602
Multi-Family, LANCASTER, PA
Property Size2,000 SF
Lot Size0.25 Acres
Price / SF$175
Days on Market15
Property Features for 2017 MILLCREEK Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Off Street
Appliances
Washer/Dryer Hookups Only
Subdivision
WILLOW STREET
High school
LAMPETER-STRASBURG
Elementary school district
LAMPETER-STRASBURG
Middle school district
LAMPETER-STRASBURG
High school district
LAMPETER-STRASBURG
Standard status
Active
Size
2,000 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
3787
Utilities
Heating system
Hot Water(Heating), Forced Air
Building Details
Year built
1950
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
Keller Williams Keystone Realty · Keller Williams Realty
(717) 755-5599
Listed By:
John Lukas · License #rs358538
(717) 824-0058
Added: Oct 7
Changed: Oct 21
Last Checked: Oct 21 at 7:06PM
MLS# PALA2096776
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.
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Investment Insights
Based on property information with market context.
This multifamily property comprises two homes on a single deed, with 2,000 square feet of building area on a 0.25-acre lot. Each residence has three bedrooms and one full bathroom. The homes were built in 1950 and have vinyl siding, basement space, and off-street parking. Heating is provided by hot water and forced air systems, and washer/dryer hookups are present.
The property is within the Lampeter-Strasburg School District, and Mill Creek views are visible from the homes. Both residences need updates.
The property is within the Lampeter-Strasburg School District, and Mill Creek views are visible from the homes. Both residences need updates.
Key Highlights
- Two homes on one deed
- Each residence has 3 bedrooms and 1 full bath
- 2,000 square feet of building area on a 0.25‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,701
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,020
$394.0K
Cap Rate 7%
$281,443
$281.4K
Cap Rate 9%
$218,900
$218.9K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$36.0K $18.00/SF
− Vacancy
−$180 −$0.09/SF
EGI
$35.8K $17.91/SF
− OpEx
−$16.1K −$8.06/SF
NOI
$19.7K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$394,020
Cap Rate 7%
$281,443
Cap Rate 9%
$218,900
Alternative Uses
Best Use
Apartment 5plus
$281.4K
$246.3K – $328.4K
NOI $19,701 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$670.2K
$586.4K – $781.9K
NOI $46,915 @ 7.0% cap · market cap 13.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two separate residences share one deed in the Lampeter-Strasburg School District.
Where is this multifamily property located?
The property is located at 2017 MILLCREEK Road Lancaster, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two homes on one deed; Each residence has 3 bedrooms and 1 full bath; 2,000 square feet of building area on a 0.25‑acre lot
