Lancaster Duplex Near Downtown
For Sale
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252 E Walnut St, Lancaster, PA 17602
Well-maintained duplex with income potential in walkable Lancaster location.
Property Size1,420 SF
Price / SF$204.23
Days on Market210
Property Features for 252 E Walnut St
General Information
Standard status
Active
Size
1,420 SF
Class
B
Property subtype
Multifamily
Zoning
R-4 Residential
Occupancy
100%
Net Operating Income
$14,515
Building Details
Year Built
1868
Stories
2
Units
2
Listing Agency:
Landmark Commercial Realty
Listed By:
Mike Rohm, CCIM, MAI · License #RS333048
Source:
Crexi
Added: Jan 31
Changed: Aug 15
Last Checked: Aug 26 at 2:08AM
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 Landmark Commercial Realty
Investment Insights
Based on property information with market context.
Located at 252 E Walnut St in Lancaster, PA, this well-maintained duplex offers immediate rental income with long-term appreciation potential. The property features two units, each containing 2 bedrooms and 1 bathroom, one unit per floor. Shared laundry facilities are available. The property also includes a partially finished basement, providing flexible use and added value. Situated in a highly walkable location, the property is a short walk to Lancaster General Hospital and Musser Park, with downtown amenities close by. A large fenced-in yard enhances tenant appeal. The property size is 1420 square feet. It is located in a desirable Lancaster neighborhood.
Key Highlights
- Immediate rental income from two 2‑bedroom, 1‑bath units.
- Highly walkable location near Lancaster General Hospital, Musser Park, and downtown amenities.
- Long‑term appreciation potential in a desirable Lancaster neighborhood.
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
$15,861
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
5.47%
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%
$317,220
$317.2K
Cap Rate 7%
$226,586
$226.6K
Cap Rate 9%
$176,233
$176.2K
Market Conditions
NOI Build-Up for 1,420 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
$23.0K $16.20/SF
− Vacancy
−$345 −$0.24/SF
EGI
$22.7K $15.96/SF
− OpEx
−$6.8K −$4.79/SF
NOI
$15.9K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /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%
$317,220
Cap Rate 7%
$226,586
Cap Rate 9%
$176,233
Alternative Uses
Best Use
Multifamily LT 5
$226.6K
$198.3K – $264.4K
NOI $15,861 @ 7.0% cap · market cap 5.47%
Second Best
Apartment 5plus
$199.8K
$174.9K – $233.1K
NOI $13,988 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$475.9K
$416.4K – $555.2K
NOI $33,310 @ 7.0% cap · market cap 11.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,666
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
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?
Duplex - Well-maintained duplex with income potential in walkable Lancaster location.
Where is this duplex located?
The property is located at 252 E Walnut St Lancaster, PA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Immediate rental income from two 2‑bedroom, 1‑bath units.; Highly walkable location near Lancaster General Hospital, Musser Park, and downtown amenities.; Long‑term appreciation potential in a desirable Lancaster neighborhood.
