Brick Two-Unit
241 North Franklin Street Lancaster, PA 17602
For Sale
$224,900
Pending
Two-unit brick duplex with a full basement and on-street parking, offered for sale in Lancaster City.
Property Size1,700 SF
Days on Market78
Property Features for 241 North Franklin Street
General Information
- Standard status
- Pending
- Size
- 1,700 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing Agency:
Coldwell Banker Realty
(215) 868-2450
Listed By:
Kate Bailey · License #RS320338
(215) 868-2450
Source:
Compass
Added: May 8
Changed: Jul 22
Last Checked: Jul 23 at 8:30AM
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 brick two-unit duplex offers a well-maintained structure with a full basement. The property is configured as two separate rental units, set within a compact lot, and includes on-street parking for tenant convenience.
The duplex is located in downtown Lancaster, Pennsylvania, within the Lancaster City area of MLS 10533. It is served by the School District of Lancaster.
The building’s total finished area is listed at 1,700 square feet, providing a straightforward rental setup for investors seeking a tenant-occupied income property in good condition.
The duplex is located in downtown Lancaster, Pennsylvania, within the Lancaster City area of MLS 10533. It is served by the School District of Lancaster.
The building’s total finished area is listed at 1,700 square feet, providing a straightforward rental setup for investors seeking a tenant-occupied income property in good condition.
Key Highlights
- Two‑unit brick duplex in Lancaster City with on‑street parking
- Total finished area of 1,700 sq. ft.
- Built in 1900
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $27.5k | $16.20 |
| − Vacancy | −$413 | −$0.24 |
| EGI | $27.1k | $15.96 |
| − OpEx | −$8.1k | −$4.79 |
| NOI | $19.0k | $11.17 |
1,700 SF · lease $16.20/SF/yr · vacancy 1.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$271.3K
$237.4K – $316.5K
NOI $18,989 @ 7.0% cap · market cap 8.44%
Second Best
Apartment 5plus
$239.2K
$209.3K – $279.1K
NOI $16,746 @ 7.0% cap · market cap 7.45%
Theoretical Best
Office A
$569.7K
$498.5K – $664.6K
NOI $39,878 @ 7.0% cap · market cap 17.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit brick duplex with a full basement and on-street parking, offered for sale in Lancaster City.
Where is this duplex located?
The property is located at 241 North Franklin Street Lancaster, PA.
What is the asking price?
The asking price for this property is $224,900.
What are key features of this property?
This property features: Two‑unit brick duplex in Lancaster City with on‑street parking; Total finished area of 1,700 sq. ft.; Built in 1900
