Two-Unit Residential
218 N PLUM STREET, Lancaster, PA 17602
For Sale
New
$350,000
Independent utility meters serve the residences separately.
Property Size2,074 SF
Price / SF$168.76
Days on Market2
Property Features for 218 N PLUM STREET
General Information
Standard status
Size
Property subtype
Units
Multifamily Units
Individually Metered Utilities
Additional Details
Tenant in Place
Building Details
Year Built
Tenancy
Listing Agency:
EXP Realty, LLC
(888) 397-7352
Listed By:
Josh A Schoenly · License PA RS307071
(717) 510-1452
Source:
Cummingsrealtors
Added: Nov 10
Last Checked: Nov 10 at 2:19PM
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 EXP Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 1895, this duplex contains two residences with a combined 2,074 square feet of finished living area. Together, the units offer five bedrooms and two full bathrooms. Hardwood and ceramic tile flooring, central air conditioning, and natural gas heat are among the interior features.
One residence is leased and the other is vacant. The property occupies a corner lot on N Plum Street in Lancaster, with downtown restaurants, shops, markets, and entertainment described as minutes away.
One residence is leased and the other is vacant. The property occupies a corner lot on N Plum Street in Lancaster, with downtown restaurants, shops, markets, and entertainment described as minutes away.
Key Highlights
- Two residential units with five bedrooms and two full bathrooms combined
- 2,074 square feet of finished living space
- One unit occupied; the other is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,166
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$463,320
$463.3K
Cap Rate 7%
$330,943
$330.9K
Cap Rate 9%
$257,400
$257.4K
Market Conditions
NOI Build-Up for 2,074 SF
Gross rent
$33.6K $16.20/SF
− Vacancy
−$504 −$0.24/SF
EGI
$33.1K $15.96/SF
− OpEx
−$9.9K −$4.79/SF
NOI
$23.2K $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 Rate 5%
$463,320
Cap Rate 7%
$330,943
Cap Rate 9%
$257,400
Alternative Uses
Best Use
Multifamily LT 5
$330.9K
$289.6K – $386.1K
NOI $23,166 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$291.9K
$255.4K – $340.5K
NOI $20,430 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$695.0K
$608.1K – $810.9K
NOI $48,651 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,930
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
$250,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lancaster, PA
Properties on Market for Duplexes in Lancaster
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Independent utility meters serve the residences separately.
Where is this duplex located?
The property is located at 218 N PLUM STREET 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 residential units with five bedrooms and two full bathrooms combined; 2,074 square feet of finished living space; One unit occupied; the other is vacant
