Three-Unit Multifamily
New
For Sale
$425,000
211 S CHARLOTTE Street, Manheim, PA 17545
Multi-Family, MANHEIM, PA
Property Size2,928 SF
Lot Size0.02 Acres
Price / SF$145.15
Days on Market1
Property Features for 211 S CHARLOTTE Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
3
Parking features
On Street, Off Street
Subdivision
MANHEIM BOROUGH
Middle school
MANHEIM CENTRAL
High school
MANHEIM CENTRAL
Elementary school district
MANHEIM CENTRAL
Middle school district
MANHEIM CENTRAL
High school district
MANHEIM CENTRAL
Standard status
Active
Size
2,928 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
4412
Utilities
Heating system
Other (Heating), Hot Water(Heating)
Cooling system
Ductless
Building Details
Year built
1930
Number of units
3
Building materials
Frame, Metal Siding
Architectural style
Other
Listing Agency:
Lime House
(717) 840-1355
Listed By:
Aaron Glick · License #RS374368
(717) 259-3930
Added: Sep 21
Last Checked: Sep 21 at 11:06PM
MLS# PALA2093666
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.
Investment Insights
Based on property information with market context.
This 1930 multifamily property at 211 S Charlotte Street contains three separate rental units within a frame building with metal siding. The property includes a basement, hot-water heating, and ductless cooling. Parking is provided both on the street and off street.
Set in Manheim Borough near downtown, the building is close to shopping, restaurants, local services, and major routes serving the surrounding Lancaster County area. Its established three-unit layout supports continued rental use, while the central setting provides convenient access to everyday amenities.
Set in Manheim Borough near downtown, the building is close to shopping, restaurants, local services, and major routes serving the surrounding Lancaster County area. Its established three-unit layout supports continued rental use, while the central setting provides convenient access to everyday amenities.
Key Highlights
- Three separate rental units
- 1930 construction with frame and metal siding
- 0.02‑acre lot
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
$32,705
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
7.70%
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%
$654,100
$654.1K
Cap Rate 7%
$467,214
$467.2K
Cap Rate 9%
$363,389
$363.4K
Market Conditions
NOI Build-Up for 2,928 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
$47.4K $16.20/SF
− Vacancy
−$712 −$0.24/SF
EGI
$46.7K $15.96/SF
− OpEx
−$14.0K −$4.79/SF
NOI
$32.7K $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%
$654,100
Cap Rate 7%
$467,214
Cap Rate 9%
$363,389
Alternative Uses
Best Use
Multifamily LT 5
$467.2K
$408.8K – $545.1K
NOI $32,705 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$412.0K
$360.5K – $480.7K
NOI $28,842 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$981.2K
$858.5K – $1.14M
NOI $68,683 @ 7.0% cap · market cap 16.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 17545, PA
22,718
Population
9,382
Households
2.4
Avg Household Size
42
Median Age
30%
College-Educated
90%
High-School Grad
69.8 sq mi
ZIP Area
325
Density / Sq Mi
$87,589
Median Household Income
$47,755
Median Earnings
$1,325
Median Rent
$271,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Frame construction with ductless cooling, hot-water heating, and off-street parking.
Where is this triplex located?
The property is located at 211 S CHARLOTTE Street Manheim, 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: Three separate rental units; 1930 construction with frame and metal siding; 0.02‑acre lot
