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: Oct 31 Last Checked: Nov 3 at 11:47AM

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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 / Yr

$23,634

Cap Rate

7.72%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$472,680 $472.7K

Cap Rate 7%

$337,629 $337.6K

Cap Rate 9%

$262,600 $262.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,645 SF

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 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. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

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

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