Renovated Triplex with
New
For Sale
$310,000
250 E E MAIN STREET, Waynesboro, PA 17268
Fully leased three-unit property with tenant parking, updated climate control, and varied apartment configurations.
Property Size2,268 SF
Price / SF$136.68
Days on Market5
Property Features for 250 E E MAIN STREET
General Information
Standard status
Active
Size
2,268 SF
Property subtype
Multi-family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Buildings
1
Tenancy
Multi
Listing Agency:
Keller Williams Keystone Realty
(301) 712-5656
Listed By:
Ashlea M. Brehm · License #RS328041
(301) 712-5656
Source:
Graves
Added: Aug 26
Changed: Aug 28
Last Checked: Aug 29 at 9:20AM
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 Keller Williams Keystone Realty
Investment Insights
Based on property information with market context.
This 2,268-square-foot triplex contains three apartments and is fully rented to long-term tenants. The upper residence has two bedrooms, new flooring, fresh paint, a completed renovation, and a deck. A second two-bedroom apartment includes the full front porch, while the third unit is a compact apartment with a separate exit to the parking area.
Recent improvements include a brand-new roof and mini-split systems serving each unit. The property also provides a large tenant parking lot, adding practical convenience for the existing occupants.
Recent improvements include a brand-new roof and mini-split systems serving each unit. The property also provides a large tenant parking lot, adding practical convenience for the existing occupants.
Key Highlights
- 2,268‑square‑foot triplex with three apartments
- Fully rented to long‑term tenants
- Upper apartment renovated with 2 bedrooms, new flooring, fresh paint, and a deck
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
$22,557
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
7.28%
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%
$451,140
$451.1K
Cap Rate 7%
$322,243
$322.2K
Cap Rate 9%
$250,633
$250.6K
Market Conditions
NOI Build-Up for 2,268 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
$34.8K $15.36/SF
− Vacancy
−$2.6K −$1.15/SF
EGI
$32.2K $14.21/SF
− OpEx
−$9.7K −$4.26/SF
NOI
$22.6K $9.95/SF
Area
Franklin County, PA
Vacancy
7.50%
Lease Rate
$15.36 /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%
$451,140
Cap Rate 7%
$322,243
Cap Rate 9%
$250,633
Alternative Uses
Best Use
Multifamily LT 5
$322.2K
$282.0K – $376.0K
NOI $22,557 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$291.0K
$254.6K – $339.5K
NOI $20,368 @ 7.0% cap · market cap 6.57%
Theoretical Best
Office A
$549.9K
$481.2K – $641.6K
NOI $38,494 @ 7.0% cap · market cap 12.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
857
Businesses Nearby
Explore this area
Business Placement
Demographics for 17268, PA
29,587
Population
12,693
Households
2.3
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
77.8 sq mi
ZIP Area
380
Density / Sq Mi
$69,715
Median Household Income
$44,106
Median Earnings
$1,081
Median Rent
$225,900
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Fully leased three-unit property with tenant parking, updated climate control, and varied apartment configurations.
Where is this triplex located?
The property is located at 250 E E MAIN STREET Waynesboro, PA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: 2,268‑square‑foot triplex with three apartments; Fully rented to long‑term tenants; Upper apartment renovated with 2 bedrooms, new flooring, fresh paint, and a deck
