Two-Unit Residential Income
251 South Charlotte Street Manheim, PA 17545
251 South Charlotte Street, Manheim, PA, 17545
$291,000
Pending
For Sale
$291,000
Pending
Duplex at 251 South Charlotte Street with two units, each offering off-street parking and updated building systems.
Property Size1,924 SF
Days on Market8
Property Features for 251 South Charlotte Street
General Information
- Standard status
- Pending
- Size
- 1,924 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1910
Listing agency
Realty ONE Group Unlimited
(717) 917-1515
Listed by
Renee L Mitchell-Treier · License #RS329351
(717) 917-1515
Source
Compass
Added: Jul 15 Updated: Jul 21 at 1:08PM Checked: Jul 22 at 6:50AM
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 Realty ONE Group Unlimited
Investment Insights
Based on property information with market context.
This two-unit residential income duplex is presented with two separate rental units under one property address. Unit features described include one unit with two bedrooms and two full bathrooms, a spacious living room, dining room, eat-kitchen, one-car garage, and off-street parking. The second unit is described as having one bedroom and one bathroom with a den, along with a living room, dining room, and eat-in kitchen, plus a shed and off-street parking.
The landlord pays water, sewer, and trash, with tenant responsibility for electric in at least one unit. Additional property components noted include baseboard heat, a tankless water heater, all-electric appliances, a new breaker box, new windows, repainted interiors, and washer and dryer. For the second unit, new water heater and new breaker box are noted, along with an electric stove and refrigerator.
Further utility expense details are provided in the remarks, including water/sewer and periodic trash costs associated with each unit, and oil heat responsibility listed for the landlord for one unit.
The landlord pays water, sewer, and trash, with tenant responsibility for electric in at least one unit. Additional property components noted include baseboard heat, a tankless water heater, all-electric appliances, a new breaker box, new windows, repainted interiors, and washer and dryer. For the second unit, new water heater and new breaker box are noted, along with an electric stove and refrigerator.
Further utility expense details are provided in the remarks, including water/sewer and periodic trash costs associated with each unit, and oil heat responsibility listed for the landlord for one unit.
Key Highlights
- Duplex in the Manheim Central school district with two units at 251 and 253 S Charlotte St
- Unit at 251 S Charlotte St: 2 bedrooms, 2 full bathrooms; current rent $1,180/month; includes a one‑car garage and off‑street parking
- Unit at 253 S Charlotte St: 1 bedroom, 1 bathroom plus den; current rent $1,345/month; includes shed and off‑street parking
Local 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 | $31.2k | $16.20 |
| − Vacancy | −$468 | −$0.24 |
| EGI | $30.7k | $15.96 |
| − OpEx | −$9.2k | −$4.79 |
| NOI | $21.5k | $11.17 |
1,924 SF · lease $16.20/SF/yr · vacancy 1.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$307.0K
$268.6K – $358.2K
NOI $21,491 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$270.7K
$236.9K – $315.9K
NOI $18,952 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$644.7K
$564.2K – $752.2K
NOI $45,132 @ 7.0% cap · market cap 15.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex at 251 South Charlotte Street with two units, each offering off-street parking and updated building systems.
Where is this duplex located?
The property is located at 251 South Charlotte Street Manheim, PA.
What is the asking price?
The asking price for this property is $291,000.
What are key features of this property?
This property features: Duplex in the Manheim Central school district with two units at 251 and 253 S Charlotte St; Unit at 251 S Charlotte St: 2 bedrooms, 2 full bathrooms; current rent $1,180/month; includes a one‑car garage and off‑street parking; Unit at 253 S Charlotte St: 1 bedroom, 1 bathroom plus den; current rent $1,345/month; includes shed and off‑street parking
