Renovated Two-Unit
New
For Sale
$399,999
240 E ROSS STREET, Lancaster, PA 17602
Separate electric and heating service in each residence, plus a detached garage that is currently leased.
Property Size1,823 SF
Price / SF$219.42
Days on Market5
Property Features for 240 E ROSS STREET
General Information
Standard status
Active
Size
1,823 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1910
Listing Agency:
JRHeller.com LLC
(717) 803-6446
Listed By:
Noah Barger · License #RS364684
(717) 203-8143
Source:
Cummingsrealtors
Added: Oct 16
Changed: Oct 19
Last Checked: Oct 19 at 2:11PM
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 JRHeller.com LLC
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Investment Insights
Based on property information with market context.
This Lancaster duplex contains two recently renovated residences, both currently vacant. Each unit has its own electric and heating service. A detached garage is also part of the property and is currently leased, providing a separate income component.
Built in 1910, the property is located on E Ross Street in Lancaster, Pennsylvania. Its two-unit configuration and separate utility services distinguish the residential layout.
Built in 1910, the property is located on E Ross Street in Lancaster, Pennsylvania. Its two-unit configuration and separate utility services distinguish the residential layout.
Key Highlights
- Two renovated residential units, both currently vacant
- Separate electric and heating service for each unit
- Detached garage currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,363
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$407,260
$407.3K
Cap Rate 7%
$290,900
$290.9K
Cap Rate 9%
$226,256
$226.3K
Market Conditions
NOI Build-Up for 1,823 SF
Gross rent
$29.5K $16.20/SF
− Vacancy
−$443 −$0.24/SF
EGI
$29.1K $15.96/SF
− OpEx
−$8.7K −$4.79/SF
NOI
$20.4K $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%
$407,260
Cap Rate 7%
$290,900
Cap Rate 9%
$226,256
Alternative Uses
Best Use
Multifamily LT 5
$290.9K
$254.5K – $339.4K
NOI $20,363 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$256.5K
$224.5K – $299.3K
NOI $17,957 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$610.9K
$534.5K – $712.7K
NOI $42,763 @ 7.0% cap · market cap 10.69%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,739
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?
Duplex - Separate electric and heating service in each residence, plus a detached garage that is currently leased.
Where is this duplex located?
The property is located at 240 E ROSS STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Two renovated residential units, both currently vacant; Separate electric and heating service for each unit; Detached garage currently leased
