Side-by-Side
For Sale
$300,000
254-256 E MADISON Street, Greencastle, PA 17225
Multi-Family, GREENCASTLE, PA
Property Size2,001 SF
Lot Size0.14 Acres
Price / SF$149.93
Days on Market100
Property Features for 254-256 E MADISON Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
Elementary school district
GREENCASTLE-ANTRIM
Middle school district
GREENCASTLE-ANTRIM
High school district
GREENCASTLE-ANTRIM
Standard status
Active
Size
2,001 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1866
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Amenities
private patios
large backyard
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
RE/MAX Realty Agency, Inc. · RE/MAX International
(717) 267-0011
Listed By:
Nicole Scott · License #AB068579
(717) 726-7001
Added: Jun 19
Changed: Sep 5
Last Checked: Sep 26 at 8:06PM
MLS# PAFL2035556
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Colonial-style duplex, built in 1900, contains 2,001 square feet across two side-by-side residential units. Separate utilities serve each unit, while the property also includes a basement, vinyl siding, forced-air heating, and window-unit cooling. Outdoor features include a large backyard and private patios for the residents.
Set in Greencastle, the property is within walking distance of downtown amenities, shopping, dining, and community events. On-street parking is provided, and the 0.14-acre parcel offers additional outdoor space around the building.
Set in Greencastle, the property is within walking distance of downtown amenities, shopping, dining, and community events. On-street parking is provided, and the 0.14-acre parcel offers additional outdoor space around the building.
Key Highlights
- Side‑by‑side duplex with 2,001 square feet
- Separate utilities for each unit
- Large backyard with private patios
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
$19,901
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
6.63%
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%
$398,020
$398.0K
Cap Rate 7%
$284,300
$284.3K
Cap Rate 9%
$221,122
$221.1K
Market Conditions
NOI Build-Up for 2,001 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
$30.7K $15.36/SF
− Vacancy
−$2.3K −$1.15/SF
EGI
$28.4K $14.21/SF
− OpEx
−$8.5K −$4.26/SF
NOI
$19.9K $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%
$398,020
Cap Rate 7%
$284,300
Cap Rate 9%
$221,122
Alternative Uses
Best Use
Multifamily LT 5
$284.3K
$248.8K – $331.7K
NOI $19,901 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$256.7K
$224.6K – $299.5K
NOI $17,970 @ 7.0% cap · market cap 5.99%
Theoretical Best
Office A
$485.2K
$424.5K – $566.1K
NOI $33,963 @ 7.0% cap · market cap 11.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
Explore this area
Business Placement
Demographics for 17225, PA
20,199
Population
8,132
Households
2.5
Avg Household Size
42
Median Age
25%
College-Educated
92%
High-School Grad
81.8 sq mi
ZIP Area
247
Density / Sq Mi
$87,245
Median Household Income
$46,317
Median Earnings
$969
Median Rent
$266,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units have separate utilities and access to a backyard with private patios.
Where is this duplex located?
The property is located at 254-256 E MADISON Street Greencastle, PA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2,001 square feet; Separate utilities for each unit; Large backyard with private patios
