Three-Bedroom Short-Term Rental
233 N CHERRY STREET, Lancaster, PA 17602
For Sale
New
$349,900
An active rental in Lancaster, this end-unit home pairs a private rear garden with an open kitchen and dining area.
Property Size1,578 SF
Price / SF$221.74
Days on Market5
Property Features for 233 N CHERRY STREET
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Additional Details
Road Access
Multifamily Units
Currently Operating
Amenities
private rear garden
Building Details
Year Built
Listing Agency:
Realty ONE Group Unlimited
(717) 569-1700
Listed By:
Jennifer Augustine · License #RS332496
(717) 951-3463
Source:
Cummingsrealtors
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 10:21AM
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 Realty ONE Group Unlimited
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Investment Insights
Based on property information with market context.
Configured as a three-bedroom, two-bath townhome, this end unit is currently operating as a short-term rental. The 1,578-square-foot interior includes an open kitchen with stone countertops and stainless appliances, living and formal dining areas with refinished pine floors, and a private rear garden. Two bedrooms and both bathrooms are on the second level; the third bedroom occupies the upper floor. The home was built in 1900, and two parking spaces may convey with the property.
The residence is on N Cherry Street in Lancaster, between Chestnut and Walnut streets. Downtown shops, restaurants, galleries, and Central Market are among the nearby destinations. Musser Park and its green space are also part of the neighborhood setting.
The residence is on N Cherry Street in Lancaster, between Chestnut and Walnut streets. Downtown shops, restaurants, galleries, and Central Market are among the nearby destinations. Musser Park and its green space are also part of the neighborhood setting.
Key Highlights
- Currently operating as a short‑term rental
- 1,578 SF end‑unit townhome with three bedrooms and two baths
- Open kitchen with stone countertops and stainless appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,544
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$310,880
$310.9K
Cap Rate 7%
$222,057
$222.1K
Cap Rate 9%
$172,711
$172.7K
Market Conditions
NOI Build-Up for 1,578 SF
Gross rent
$28.4K $18.00/SF
− Vacancy
−$142 −$0.09/SF
EGI
$28.3K $17.91/SF
− OpEx
−$12.7K −$8.06/SF
NOI
$15.5K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$310,880
Cap Rate 7%
$222,057
Cap Rate 9%
$172,711
Alternative Uses
Best Use
Apartment 5plus
$222.1K
$194.3K – $259.1K
NOI $15,544 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$528.8K
$462.7K – $616.9K
NOI $37,016 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
1
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
4,830
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Short term rental property - An active rental in Lancaster, this end-unit home pairs a private rear garden with an open kitchen and dining area.
Where is this short term rental property located?
The property is located at 233 N CHERRY STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Currently operating as a short‑term rental; 1,578 SF end‑unit townhome with three bedrooms and two baths; Open kitchen with stone countertops and stainless appliances
