Renovated Two-Unit
For Sale
$349,000
210 Ruby Street, Lancaster, PA 17603
Two residential units feature refreshed kitchens, bathrooms, flooring, paint, and lighting, with off-street parking included.
Property Size2,042 SF
Price / SF$170.91
Days on Market175
Property Features for 210 Ruby Street
General Information
Standard status
Active
Size
2,042 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Net Operating Income
$43,000
Financials
Cap Rate
12.5%
Gross Income
$45,000
Units
Unit Mix
1 x 1BR, 1 x 4BR
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,329
Amenities
No
2+ Access Exits, 32"+ wide Doors, 48"+ Halls
No Pool
Above Grade, Below Grade
Building Details
Year Built
1910
Buildings
1
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 344-1873
Listed By:
mabel hinson · License #RS350032
(717) 344-1873
Source:
Compass
Added: Mar 9
Changed: Aug 30
Last Checked: Aug 30 at 1:59PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
Built in 1910, this residential duplex contains two separate apartments with updated interiors. The first-floor unit includes one bedroom, an eat-in kitchen, a distinct living area, and a renovated bathroom. The upper apartment provides an eat-in kitchen, dedicated living space, and an updated full bathroom. The property also includes above-grade and below-grade areas, 32-inch-plus doors, and 48-inch-plus halls.
Located on Ruby Street in Lancaster's West End, the property is zoned RESIDENTIAL and includes two off-street parking spaces. Recent improvements include renovated bathrooms, refreshed kitchens, new flooring, interior paint, and modern light fixtures, providing a substantially updated configuration for residential occupancy.
Located on Ruby Street in Lancaster's West End, the property is zoned RESIDENTIAL and includes two off-street parking spaces. Recent improvements include renovated bathrooms, refreshed kitchens, new flooring, interior paint, and modern light fixtures, providing a substantially updated configuration for residential occupancy.
Key Highlights
- Two‑unit residential duplex in Lancaster's West End
- Renovated kitchens and bathrooms in both apartments
- New flooring, interior paint, and modern light fixtures
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
$22,809
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
6.54%
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%
$456,180
$456.2K
Cap Rate 7%
$325,843
$325.8K
Cap Rate 9%
$253,433
$253.4K
Market Conditions
NOI Build-Up for 2,042 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
$33.1K $16.20/SF
− Vacancy
−$496 −$0.24/SF
EGI
$32.6K $15.96/SF
− OpEx
−$9.8K −$4.79/SF
NOI
$22.8K $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%
$456,180
Cap Rate 7%
$325,843
Cap Rate 9%
$253,433
Alternative Uses
Best Use
Multifamily LT 5
$325.8K
$285.1K – $380.2K
NOI $22,809 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$287.4K
$251.4K – $335.3K
NOI $20,115 @ 7.0% cap · market cap 5.76%
Theoretical Best
Office A
$684.3K
$598.8K – $798.3K
NOI $47,900 @ 7.0% cap · market cap 13.72%
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
1,488
Businesses Nearby
Explore this area
Business Placement
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
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 - Two residential units feature refreshed kitchens, bathrooms, flooring, paint, and lighting, with off-street parking included.
Where is this duplex located?
The property is located at 210 Ruby Street Lancaster, PA.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: Two‑unit residential duplex in Lancaster's West End; Renovated kitchens and bathrooms in both apartments; New flooring, interior paint, and modern light fixtures
