Building Details

Building Size 1,500 SF

Year Built 1880

Stories 2

Listing Agency: Coldwell Banker Realty d***@cbhomes.com Show Phone

Listed By: DOTTIE L BERNATOS Show Phone

Source: Evrealestate

Added: Aug 18 Changed: Aug 28 Last Checked: Aug 28 at 8:15AM

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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 duplex in Mount Holly Springs Borough contains one apartment on each of two floors. Both units provide two bedrooms, one bathroom, a living area, and a combined kitchen and eating space. The first-floor unit uses oil heat, while the upper unit is electrically heated. A new stairway and deck serve the second-floor residence, and the metal roof was recoated in 2019.

The detached garage includes two separate garage areas along with an upstairs storage area. The garage is not part of the current leases, providing a distinct accessory space separate from the residential units. The property is located at 224 Chestnut St in Mount Holly Springs, PA.

Key Highlights

• Two‑unit duplex with one first‑floor apartment and one second‑floor apartment
• Each unit includes 2 bedrooms, 1 bath, living area, and combined kitchen/eating area
• First‑floor unit has oil heat; second‑floor unit has electric heat

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

$12,670

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

8.74%

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%

$253,400 $253.4K

Cap Rate 7%

$181,000 $181.0K

Cap Rate 9%

$140,778 $140.8K

Market Conditions

NOI Build-Up for 1,500 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

$24.5K $16.32/SF

− Vacancy

−$1.4K −$0.96/SF

EGI

$23.0K $15.36/SF

− OpEx

−$10.4K −$6.91/SF

NOI

$12.7K $8.45/SF

Area

Cumberland County, PA

Vacancy

5.90%

Lease Rate

$16.32 /SF/Yr

Expense Ratio

45.00%

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%

$253,400

Cap Rate 7%

$181,000

Cap Rate 9%

$140,778

Alternative Uses

Best Use

Multifamily LT 5

$203.9K

$178.4K – $237.9K (±1% cap)

NOI $14,272 @ 7.0% cap · market cap 9.84%

Second Best

Apartment 5plus

$181.0K

$158.4K – $211.2K (±1% cap)

NOI $12,670 @ 7.0% cap · market cap 8.74%

Theoretical Best

Office A

$348.4K

$304.9K – $406.5K (±1% cap)

NOI $24,391 @ 7.0% cap · market cap 16.82%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Dental Office Law Firm Parking Lot & Garage Hair Salon Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

175

Businesses Nearby

Explore this area Business Placement

Demographics for 17065, PA

4,265

Population

1,705

Households

2.5

Avg Household Size

42

Median Age

26%

College-Educated

94%

High-School Grad

15.0 sq mi

ZIP Area

284

Density / Sq Mi

$79,769

Median Household Income

$42,478

Median Earnings

$991

Median Rent

$225,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two-level residential income property with separate living spaces and a detached garage offering additional storage capacity.

Where is this duplex located?

The property is located at 224 CHESTNUT STREET Mount Holly Springs, PA.

What is the asking price?

The asking price for this property is $145,000.

What are key features of this property?

This property features: Two‑unit duplex with one first‑floor apartment and one second‑floor apartment; Each unit includes 2 bedrooms, 1 bath, living area, and combined kitchen/eating area; First‑floor unit has oil heat; second‑floor unit has electric heat