Two-Unit Duplex With Off-Street
For Sale
$245,000
Pending
226 S 9TH STREET, Lebanon, PA 17042
Income-producing duplex with separate apartments, off-street parking, and updated gas heating systems.
Property Size2,220 SF
Days on Market50
Property Features for 226 S 9TH STREET
General Information
Standard status
Pending
Size
2,220 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Building Details
Year Built
1880
Listing Agency:
Suburban Realty
(717) 867-4487
Listed By:
Aaron Donnachie · License #RS335953
(717) 383-6670
Source:
Cummingsrealtors
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 5 at 6:46PM
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 Suburban Realty
Investment Insights
Based on property information with market context.
This two-unit duplex contains two apartments, each configured with two bedrooms, within a 2,220-square-foot property built in 1880. The building includes off-street parking behind the property, along with two updated gas furnaces serving the apartments. A sewer line has also been replaced, and the rear portion of the roof was replaced within the last 5 years.
Located at 226 S 9TH STREET in Lebanon, PA, the property is occupied by two tenants on month-to-month arrangements. Both tenants are current on rent, providing an existing residential income setup for the next owner.
Located at 226 S 9TH STREET in Lebanon, PA, the property is occupied by two tenants on month-to-month arrangements. Both tenants are current on rent, providing an existing residential income setup for the next owner.
Key Highlights
- Two apartments, each with two bedrooms
- 2,220‑square‑foot duplex built in 1880
- Off‑street parking located behind the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,837
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,740
$396.7K
Cap Rate 7%
$283,386
$283.4K
Cap Rate 9%
$220,411
$220.4K
Market Conditions
NOI Build-Up for 2,220 SF
Gross rent
$30.6K $13.80/SF
− Vacancy
−$2.3K −$1.04/SF
EGI
$28.3K $12.77/SF
− OpEx
−$8.5K −$3.83/SF
NOI
$19.8K $8.94/SF
Area
Lebanon County, PA
Vacancy
7.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$396,740
Cap Rate 7%
$283,386
Cap Rate 9%
$220,411
Alternative Uses
Best Use
Multifamily LT 5
$283.4K
$248.0K – $330.6K
NOI $19,837 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$263.4K
$230.4K – $307.3K
NOI $18,435 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$521.1K
$455.9K – $607.9K
NOI $36,475 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,654
Businesses Nearby
Explore this area
Business Placement
Demographics for 17042, PA
40,618
Population
17,067
Households
2.4
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
600
Density / Sq Mi
$76,399
Median Household Income
$45,429
Median Earnings
$1,096
Median Rent
$222,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Income-producing duplex with separate apartments, off-street parking, and updated gas heating systems.
Where is this duplex located?
The property is located at 226 S 9TH STREET Lebanon, PA.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Two apartments, each with two bedrooms; 2,220‑square‑foot duplex built in 1880; Off‑street parking located behind the property
