Listing Agency: Iron Valley Real Estate c***@ironvalleyrealestate.com Show Phone

Listed By: Kimberly Gassert · License #RS287087 Show Phone

Source: Exprealty

Added: Aug 27 Changed: Sep 4 Last Checked: Sep 4 at 2:50PM

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Investment Insights

Based on property information with market context.

This 2,645-square-foot duplex in Cleona, Pennsylvania, contains two residential units, each with 2 bedrooms and separate access to basement and attic storage. Washer and dryer connections are located in each unit’s basement. Gas forced-air heating serves the property, and the front unit also has central air. The heating systems have been regularly serviced.

The front unit is vacant, while the rear unit is occupied. Two garage spaces accompany the property, with one currently rented and the other available for separate use or assignment to the front unit. The property is located in the Annville-Cleona School District and offers a combination of residential accommodations, storage, and garage space.

Key Highlights

• 2,645‑square‑foot duplex with two residential units
• Each unit has 2 bedrooms plus basement and attic access
• Washer and dryer connections in both basement areas

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$23,634

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

7.72%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$472,680 $472.7K

Cap Rate 7%

$337,629 $337.6K

Cap Rate 9%

$262,600 $262.6K

Market Conditions

NOI Build-Up for 2,645 SF 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.

Gross rent

$36.5K $13.80/SF

− Vacancy

−$2.7K −$1.04/SF

EGI

$33.8K $12.77/SF

− OpEx

−$10.1K −$3.83/SF

NOI

$23.6K $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 rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$472,680

Cap Rate 7%

$337,629

Cap Rate 9%

$262,600

Alternative Uses

Best Use

Multifamily LT 5

$337.6K

$295.4K – $393.9K (±1% cap)

NOI $23,634 @ 7.0% cap · market cap 7.72%

Second Best

Apartment 5plus

$313.8K

$274.6K – $366.1K (±1% cap)

NOI $21,964 @ 7.0% cap · market cap 7.18%

Theoretical Best

Office A

$620.8K

$543.2K – $724.3K (±1% cap)

NOI $43,458 @ 7.0% cap · market cap 14.20%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Electrical Service Barber Shop Daycare Center Computer & Electronic Repair Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

210

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two-bedroom units include basement and attic storage access, laundry connections, and gas forced-air heating.

Where is this duplex located?

The property is located at 25 W Penn Ave Cleona, PA.

What is the asking price?

The asking price for this property is $305,950.

What are key features of this property?

This property features: 2,645‑square‑foot duplex with two residential units; Each unit has 2 bedrooms plus basement and attic access; Washer and dryer connections in both basement areas