Side-by-Side Duplex with
For Sale
$325,000
254 254-256 E Madison St, Greencastle, PA 17225
Each residence has separate utilities, private patio space, and access to a large backyard.
Property Size2,001 SF
Price / SF$162.42
Days on Market29
Property Features for 254 254-256 E Madison St
General Information
Standard status
Active
Size
2,001 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
RE/MAX Realty Agency, Inc.
(717) 372-4469
Listed By:
Nicole Scott · License #AB068579
Source:
Localrealestateleaders
Added: Aug 2
Changed: Aug 29
Last Checked: Aug 29 at 4:17PM
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 RE/MAX Realty Agency, Inc.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,001 square feet and was built in 1900. The two residences have separate utilities, private patios, and access to a large backyard, providing distinct outdoor areas for occupants. The property has been maintained by the current owner.
Located at 254 254-256 E Madison St in Greencastle, the duplex is within walking distance of downtown amenities, shopping, dining, and community events. Its two-unit configuration and separately metered utilities provide a straightforward residential income property format for an owner-user or portfolio buyer.
Located at 254 254-256 E Madison St in Greencastle, the duplex is within walking distance of downtown amenities, shopping, dining, and community events. Its two-unit configuration and separately metered utilities provide a straightforward residential income property format for an owner-user or portfolio buyer.
Key Highlights
- Side‑by‑side duplex with 2,001 square feet
- Built in 1900
- Separate utilities for each unit
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
6.12%
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 6.12%
Second Best
Apartment 5plus
$256.7K
$224.6K – $299.5K
NOI $17,970 @ 7.0% cap · market cap 5.53%
Theoretical Best
Office A
$485.2K
$424.5K – $566.1K
NOI $33,963 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
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 - Each residence has separate utilities, private patio space, and access to a large backyard.
Where is this duplex located?
The property is located at 254 254-256 E Madison St Greencastle, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Side‑by‑side duplex with 2,001 square feet; Built in 1900; Separate utilities for each unit
