Updated Side-by-Side
For Sale
$410,000
206 RIDERS WAY, Lebanon, PA 17042
Two separate residences offer mini-split heating and cooling, individual yards, and off-street parking.
Property Size2,440 SF
Price / SF$168.03
Days on Market50
Property Features for 206 RIDERS WAY
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 4BR/1BA
Multifamily Units
2
Amenities
mini split systems
off-street parking
yards
Building Details
Year Built
1920
Listing Agency:
Prime Home Real Estate, LLC
(717) 735-2204
Listed By:
Marcus Sensenig · License #RS325520
(717) 606-7767
Source:
Cummingsrealtors
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 5 at 6:56PM
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 Prime Home Real Estate, LLC
Investment Insights
Based on property information with market context.
Built in 1920, this 2,440-square-foot duplex is configured as two side-by-side residences. The units provide distinct layouts, with one offering three bedrooms and 1.5 baths and the other featuring four bedrooms and one bath. Each side includes a mini-split system for heating and air conditioning, along with its own yard and off-street parking.
Recent property improvements include a newer roof, updated electrical service, and newer plumbing. The duplex is located at 206 Riders Way in Lebanon, Pennsylvania, south of Lebanon City. Both residences are leased, with tenants responsible for utilities.
Recent property improvements include a newer roof, updated electrical service, and newer plumbing. The duplex is located at 206 Riders Way in Lebanon, Pennsylvania, south of Lebanon City. Both residences are leased, with tenants responsible for utilities.
Key Highlights
- 2,440 SF side‑by‑side duplex built in 1920
- Unit mix includes 3 bedrooms and 1.5 baths on one side, plus 4 bedrooms and 1 bath on the other
- Mini‑split heating and A/C systems in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,803
Cap Rate
5.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,060
$436.1K
Cap Rate 7%
$311,471
$311.5K
Cap Rate 9%
$242,256
$242.3K
Market Conditions
NOI Build-Up for 2,440 SF
Gross rent
$33.7K $13.80/SF
− Vacancy
−$2.5K −$1.04/SF
EGI
$31.1K $12.77/SF
− OpEx
−$9.3K −$3.83/SF
NOI
$21.8K $8.94/SF
Area
Lebanon County, PA
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$436,060
Cap Rate 7%
$311,471
Cap Rate 9%
$242,256
Alternative Uses
Best Use
Multifamily LT 5
$311.5K
$272.5K – $363.4K
NOI $21,803 @ 7.0% cap · market cap 5.32%
Second Best
Apartment 5plus
$289.5K
$253.3K – $337.7K
NOI $20,262 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$572.7K
$501.1K – $668.2K
NOI $40,090 @ 7.0% cap · market cap 9.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Explore this area
Business Placement
Demographics for 17042, PA
40,618
Population
17,067
Households
2.4
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
600
Density / Sq Mi
$76,399
Median Household Income
$45,429
Median Earnings
$1,096
Median Rent
$222,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences offer mini-split heating and cooling, individual yards, and off-street parking.
Where is this duplex located?
The property is located at 206 RIDERS WAY Lebanon, PA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: 2,440 SF side‑by‑side duplex built in 1920; Unit mix includes 3 bedrooms and 1.5 baths on one side, plus 4 bedrooms and 1 bath on the other; Mini‑split heating and A/C systems in both units
