Brick Victorian
For Sale
$379,900
301 CHESTNUT Street, Columbia, PA 17512
Multi-Family, COLUMBIA, PA
Property Size2,436 SF
Lot Size0.08 Acres
Price / SF$155.95
Days on Market47
Property Features for 301 CHESTNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
On Street
Elementary school district
COLUMBIA BOROUGH
Middle school district
COLUMBIA BOROUGH
High school district
COLUMBIA BOROUGH
Standard status
Active
Size
2,436 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
5250
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1850
Number of units
4
Building materials
Brick, Masonry
Architectural style
Victorian
Listing Agency:
Kingsway Realty - Lancaster
(717) 569-8701
Listed By:
Chris Beiler · License #RS330808
(717) 201-0838
Added: Jul 21
Changed: Aug 27
Last Checked: Sep 5 at 2:06AM
MLS# PALA2092058
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.
Built in 1850, this four-unit quadplex combines brick and masonry construction with Victorian architectural detailing. The 2,436-square-foot property includes a dramatic mansard roof, tall windows, a wraparound front porch, and basement space. Electric baseboard heating serves the building, while parking is available on the street.
All four apartments are currently occupied, and professional management is provided by Smoker Property Management. The property occupies 0.08 acres at the corner of Chestnut Street in Columbia, Pennsylvania, within Lancaster County.
All four apartments are currently occupied, and professional management is provided by Smoker Property Management. The property occupies 0.08 acres at the corner of Chestnut Street in Columbia, Pennsylvania, within Lancaster County.
Key Highlights
- Four‑unit quadplex with all four apartments occupied
- 2,436 square feet on a 0.08‑acre lot
- Brick and masonry construction dating to 1850
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
$27,210
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
7.16%
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%
$544,200
$544.2K
Cap Rate 7%
$388,714
$388.7K
Cap Rate 9%
$302,333
$302.3K
Market Conditions
NOI Build-Up for 2,436 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
$39.5K $16.20/SF
− Vacancy
−$592 −$0.24/SF
EGI
$38.9K $15.96/SF
− OpEx
−$11.7K −$4.79/SF
NOI
$27.2K $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%
$544,200
Cap Rate 7%
$388,714
Cap Rate 9%
$302,333
Alternative Uses
Best Use
Multifamily LT 5
$388.7K
$340.1K – $453.5K
NOI $27,210 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$342.8K
$300.0K – $399.9K
NOI $23,996 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$816.3K
$714.3K – $952.4K
NOI $57,142 @ 7.0% cap · market cap 15.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
692
Businesses Nearby
Explore this area
Business Placement
Demographics for 17512, PA
18,267
Population
8,255
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
16.0 sq mi
ZIP Area
1,142
Density / Sq Mi
$61,130
Median Household Income
$42,702
Median Earnings
$1,067
Median Rent
$221,100
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?
Quadplex - Four occupied apartments in a professionally managed historic brick residence with a wraparound porch and on-street parking.
Where is this quadplex located?
The property is located at 301 CHESTNUT Street Columbia, PA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Four‑unit quadplex with all four apartments occupied; 2,436 square feet on a 0.08‑acre lot; Brick and masonry construction dating to 1850
