Updated Two-Unit
For Sale
$239,900
208 - 210 WAYNE AVENUE, Waynesboro, PA 17268
Tenant-occupied property with separate utility metering, private storage, and recent interior and exterior improvements.
Property Size1,436 SF
Price / SF$167.06
Days on Market8
Property Features for 208 - 210 WAYNE AVENUE
General Information
Standard status
Active
Size
1,436 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
laundry hookups
Building Details
Year Built
1937
Listing Agency:
Coldwell Banker Realty
(717) 752-4340
Listed By:
Kimberly M Mills · License #AB068344
(717) 752-4340
Source:
Cummingsrealtors
Added: Aug 5
Changed: Aug 11
Last Checked: Aug 12 at 6:05AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1,436-square-foot duplex contains two matching residential units, each with 2 bedrooms, 1 full bath, a living room, eat-in kitchen, mudroom, and front porch. Separate attic and basement areas provide private storage for each unit, with laundry hookups in both basements. Individual utility meters serve the units, and tenants pay their own utilities. Improvements include a new metal roof installed in 2025, fresh paint, and new LVP flooring throughout both residences. Built in 1937, the property has tenants in place and a current borough rental certificate.
The duplex is located at 208–210 Wayne Avenue in Waynesboro, Pennsylvania, with views overlooking downtown. Northside pool, a dog park, shops, restaurants, and local businesses are described as walkable from the property.
The duplex is located at 208–210 Wayne Avenue in Waynesboro, Pennsylvania, with views overlooking downtown. Northside pool, a dog park, shops, restaurants, and local businesses are described as walkable from the property.
Key Highlights
- Two‑unit duplex totaling 1,436 square feet
- Each unit offers 2 bedrooms, 1 full bath, living room, eat‑in kitchen, mudroom, and front porch
- New metal roof installed in 2025
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
$14,282
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
5.95%
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%
$285,640
$285.6K
Cap Rate 7%
$204,029
$204.0K
Cap Rate 9%
$158,689
$158.7K
Market Conditions
NOI Build-Up for 1,436 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
$22.1K $15.36/SF
− Vacancy
−$1.7K −$1.15/SF
EGI
$20.4K $14.21/SF
− OpEx
−$6.1K −$4.26/SF
NOI
$14.3K $9.95/SF
Area
Franklin County, PA
Vacancy
7.50%
Lease Rate
$15.36 /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%
$285,640
Cap Rate 7%
$204,029
Cap Rate 9%
$158,689
Alternative Uses
Best Use
Multifamily LT 5
$204.0K
$178.5K – $238.0K
NOI $14,282 @ 7.0% cap · market cap 5.95%
Second Best
Apartment 5plus
$184.2K
$161.2K – $214.9K
NOI $12,896 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$348.2K
$304.7K – $406.2K
NOI $24,373 @ 7.0% cap · market cap 10.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
Business Placement
Demographics for 17268, PA
29,587
Population
12,693
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
77.8 sq mi
ZIP Area
380
Density / Sq Mi
$69,715
Median Household Income
$44,106
Median Earnings
$1,081
Median Rent
$225,900
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 - Tenant-occupied property with separate utility metering, private storage, and recent interior and exterior improvements.
Where is this duplex located?
The property is located at 208 - 210 WAYNE AVENUE Waynesboro, PA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit duplex totaling 1,436 square feet; Each unit offers 2 bedrooms, 1 full bath, living room, eat‑in kitchen, mudroom, and front porch; New metal roof installed in 2025
