Two-Unit Apartment
For Sale
$519,900
231 E FULTON Street, Ephrata, PA 17522
Multi-Family, EPHRATA, PA
Property Size2,374 SF
Lot Size0.21 Acres
Price / SF$218
Days on Market47
Property Features for 231 E FULTON Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking
4
Parking features
On Street, Parking Lot
Elementary school district
EPHRATA AREA
Middle school district
EPHRATA AREA
High school district
EPHRATA AREA
Standard status
Active
Size
2,374 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
7242
Utilities
Heating system
Forced Air
Cooling system
Central Air
Amenities
central A/C
natural gas heat
in-unit laundry
off street parking
Building Details
Year built
2024
Number of units
2
Building materials
Stick Built, Vinyl Siding
Listing Agency:
Iron Valley Real Estate of Lancaster
(717) 740-2221
Listed By:
Landon Weaver
(717) 466-1685
Added: Sep 21
Changed: Oct 19
Last Checked: Nov 6 at 5:06AM
MLS# PALA2095810
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.
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Investment Insights
Based on property information with market context.
Built in 2024, this two-story apartment property contains two residences totaling 2,374 square feet on a 0.2091-acre lot. Each unit has two bedrooms and two bathrooms, along with in-unit laundry and central air conditioning. The building has forced-air heating, and off-street parking is available.
Key Highlights
- Two apartments, each configured with 2 bedrooms and 2 bathrooms
- 2,374 square feet across two stories
- Built in 2024 on a 0.2091‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,517
Cap Rate
5.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$530,340
$530.3K
Cap Rate 7%
$378,814
$378.8K
Cap Rate 9%
$294,633
$294.6K
Market Conditions
NOI Build-Up for 2,374 SF
Gross rent
$38.5K $16.20/SF
− Vacancy
−$577 −$0.24/SF
EGI
$37.9K $15.96/SF
− OpEx
−$11.4K −$4.79/SF
NOI
$26.5K $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%
$530,340
Cap Rate 7%
$378,814
Cap Rate 9%
$294,633
Alternative Uses
Best Use
Multifamily LT 5
$378.8K
$331.5K – $442.0K
NOI $26,517 @ 7.0% cap · market cap 5.10%
Second Best
Apartment 5plus
$334.1K
$292.3K – $389.8K
NOI $23,385 @ 7.0% cap · market cap 4.50%
Theoretical Best
Office A
$795.5K
$696.1K – $928.1K
NOI $55,688 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
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Business Placement
Demographics for 17522, PA
33,848
Population
13,837
Households
2.4
Avg Household Size
40
Median Age
24%
College-Educated
86%
High-School Grad
43.0 sq mi
ZIP Area
787
Density / Sq Mi
$71,865
Median Household Income
$42,588
Median Earnings
$1,171
Median Rent
$263,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include private laundry, central air conditioning, and two-bedroom, two-bath layouts.
Where is this duplex located?
The property is located at 231 E FULTON Street Ephrata, PA.
What is the asking price?
The asking price for this property is $519,900.
What are key features of this property?
This property features: Two apartments, each configured with 2 bedrooms and 2 bathrooms; 2,374 square feet across two stories; Built in 2024 on a 0.2091‑acre lot
