Duplex with Fenced Rear
New
For Sale
$199,900
30 W MIDDLE ST, Hanover, PA 17331
Two matching units include eat-in kitchens, laundry hookups, and separate entrances.
Property Size1,828 SF
Price / SF$109.35
Days on Market3
Property Features for 30 W MIDDLE ST
General Information
Standard status
Active
Size
1,828 SF
Total Parking Spaces
2
Property subtype
Multi-family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Amenities
eat-in kitchen
washer/dryer hookups
fenced rear yard
Listing Agency:
Real of Pennsylvania
(717) 858-5123
Listed By:
Ethan Cole Funderburk · License #RS376090
(717) 858-5123
Source:
Towncentermd
Added: Aug 30
Changed: Aug 31
Last Checked: Aug 31 at 5:00PM
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 Real of Pennsylvania
Investment Insights
Based on property information with market context.
This 1,828-square-foot duplex contains two identical units, each configured with 2 bedrooms and 1 bathroom. Both residences include an eat-in kitchen, washer/dryer hookups, and a separate entrance. The upper unit is vacant, while the layout supports occupancy of one unit alongside leasing the other or renting both units.
The property includes off-street parking for 2 vehicles and a fenced rear yard. Located at 30 W Middle St in Hanover, Pennsylvania, the duplex offers a two-unit residential configuration with distinct access for each residence.
The property includes off-street parking for 2 vehicles and a fenced rear yard. Located at 30 W Middle St in Hanover, Pennsylvania, the duplex offers a two-unit residential configuration with distinct access for each residence.
Key Highlights
- Two identical 2‑bed/1‑bath units
- 1,828 square feet total property size
- Upper unit is vacant
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
$18,138
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
9.07%
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%
$362,760
$362.8K
Cap Rate 7%
$259,114
$259.1K
Cap Rate 9%
$201,533
$201.5K
Market Conditions
NOI Build-Up for 1,828 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
$27.4K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.9K $14.17/SF
− OpEx
−$7.8K −$4.25/SF
NOI
$18.1K $9.92/SF
Area
York County, PA
Vacancy
5.50%
Lease Rate
$15.00 /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%
$362,760
Cap Rate 7%
$259,114
Cap Rate 9%
$201,533
Alternative Uses
Best Use
Multifamily LT 5
$259.1K
$226.7K – $302.3K
NOI $18,138 @ 7.0% cap · market cap 9.07%
Second Best
Apartment 5plus
$240.7K
$210.6K – $280.8K
NOI $16,848 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$529.3K
$463.1K – $617.5K
NOI $37,049 @ 7.0% cap · market cap 18.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,309
Businesses Nearby
Explore this area
Business Placement
Demographics for 17331, PA
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
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 - Two matching units include eat-in kitchens, laundry hookups, and separate entrances.
Where is this duplex located?
The property is located at 30 W MIDDLE ST Hanover, PA.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: Two identical 2‑bed/1‑bath units; 1,828 square feet total property size; Upper unit is vacant
