7-Unit Brick Apartment
New
For Sale
$649,000
300 CHESTNUT Street, York, PA 17403
Multi-Family, YORK, PA
Property Size3,700 SF
Lot Size0.04 Acres
Price / SF$175.41
Days on Market2
Property Features for 300 CHESTNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
On Street
Elementary school district
YORK CITY
Middle school district
YORK CITY
High school district
YORK CITY
Standard status
Active
Size
3,700 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
4977
Utilities
Heating system
Baseboard, Electric (Heating)
Building Details
Year built
1900
Number of units
4
Building materials
Brick
Listing Agency:
Keller Williams Elite · Keller Williams Realty
(717) 553-2500
Listed By:
Abby Knarr · License #RS334768
(717) 606-8114
Added: Sep 22
Last Checked: Sep 23 at 1:06PM
MLS# PAYK2110148
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 7-unit apartment building in York, Pennsylvania, contains 3,700 square feet on a 0.0427-acre lot. The brick property was built in 1900 and includes a basement, baseboard heating, and electric heat. Five units have been remodeled, including Apartment 1, which is vacant and has not previously had a tenant. Five of the seven units are currently rented.
A second-floor washer and dryer hookup provides the option to add coin-operated laundry equipment. Parking is available on the street, and the property is within walking distance of downtown York restaurants, coffee shops, People's Bank stadium, a grocery store, and a laundromat.
A second-floor washer and dryer hookup provides the option to add coin-operated laundry equipment. Parking is available on the street, and the property is within walking distance of downtown York restaurants, coffee shops, People's Bank stadium, a grocery store, and a laundromat.
Key Highlights
- 7‑unit apartment building with 3,700 square feet
- Five of seven units have been remodeled
- Apartment 1 is newly remodeled and 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
$34,103
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
5.25%
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%
$682,060
$682.1K
Cap Rate 7%
$487,186
$487.2K
Cap Rate 9%
$378,922
$378.9K
Market Conditions
NOI Build-Up for 3,700 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
$65.3K $17.64/SF
− Vacancy
−$3.3K −$0.88/SF
EGI
$62.0K $16.76/SF
− OpEx
−$27.9K −$7.54/SF
NOI
$34.1K $9.22/SF
Area
York County, PA
Vacancy
5.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$682,060
Cap Rate 7%
$487,186
Cap Rate 9%
$378,922
Alternative Uses
Best Use
Apartment 5plus
$487.2K
$426.3K – $568.4K
NOI $34,103 @ 7.0% cap · market cap 5.25%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.07M
$937.4K – $1.25M
NOI $74,990 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,364
Businesses Nearby
Explore this area
Business Placement
Demographics for 17403, PA
40,344
Population
16,490
Households
2.4
Avg Household Size
37
Median Age
32%
College-Educated
89%
High-School Grad
20.6 sq mi
ZIP Area
1,958
Density / Sq Mi
$72,233
Median Household Income
$38,105
Median Earnings
$1,072
Median Rent
$206,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Brick construction includes five remodeled apartments and one newly remodeled vacant unit.
Where is this apartment building located?
The property is located at 300 CHESTNUT Street York, PA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 7‑unit apartment building with 3,700 square feet; Five of seven units have been remodeled; Apartment 1 is newly remodeled and vacant
