Building Details

Year Built 1970

Listing Agency: Turn Key Realty Group i***@talktoturnkey.com Show Phone

Listed By: LISA MONTALVO · License #RS301818 Show Phone

Source: Cummingsrealtors

Added: Jul 17 Changed: Sep 4 Last Checked: Sep 4 at 4:54AM

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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 Turn Key Realty Group

Investment Insights

Based on property information with market context.

This two-unit duplex is set on a cleared, level 0.41-acre corner lot and configured with a 1BR unit and a 2BR unit. The structure is detached with traditional architectural elements and includes a full unfinished basement that can support additional storage. Parking is provided via a gravel driveway.

The property’s lot is described as irregular in shape, offering flexibility for landscaping and potential expansion possibilities. With no association fees and a straightforward maintenance profile, it presents a straightforward residential income setup where an owner can live in one unit while renting the other, or rent both units.

Overall, the combination of two separate living units, the unfinished basement, and the level corner site supports a versatile residential income arrangement.

Key Highlights

• Cleared, level corner lot totaling 0.41 acres
• Duplex layout with a 1BR unit and a 2BR unit (live in one and rent the other, or rent both)
• Full unfinished basement provides additional storage potential

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

$12,081

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

4.39%

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%

$241,620 $241.6K

Cap Rate 7%

$172,586 $172.6K

Cap Rate 9%

$134,233 $134.2K

Market Conditions

NOI Build-Up for 1,352 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

$18.7K $13.80/SF

− Vacancy

−$1.4K −$1.04/SF

EGI

$17.3K $12.77/SF

− OpEx

−$5.2K −$3.83/SF

NOI

$12.1K $8.94/SF

Area

Lebanon County, PA

Vacancy

7.50%

Lease Rate

$13.80 /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%

$241,620

Cap Rate 7%

$172,586

Cap Rate 9%

$134,233

Alternative Uses

Best Use

Multifamily LT 5

$172.6K

$151.0K – $201.4K (±1% cap)

NOI $12,081 @ 7.0% cap · market cap 4.39%

Second Best

Apartment 5plus

$160.4K

$140.3K – $187.1K (±1% cap)

NOI $11,227 @ 7.0% cap · market cap 4.08%

Theoretical Best

Office A

$317.3K

$277.7K – $370.2K (±1% cap)

NOI $22,214 @ 7.0% cap · market cap 8.08%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply HVAC Service Electrical Service Plumbing Service Auto Parts Store Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

95

Businesses Nearby

Explore this area Business Placement

Demographics for 17067, PA

15,677

Population

6,155

Households

2.5

Avg Household Size

43

Median Age

17%

College-Educated

83%

High-School Grad

47.1 sq mi

ZIP Area

333

Density / Sq Mi

$78,125

Median Household Income

$47,624

Median Earnings

$1,183

Median Rent

$229,500

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Cleared corner duplex with a 1BR and 2BR layout, plus a full unfinished basement and gravel driveway parking.

Where is this duplex located?

The property is located at 301 N MARKET STREET Myerstown, PA.

What is the asking price?

The asking price for this property is $274,900.

What are key features of this property?

This property features: Cleared, level corner lot totaling 0.41 acres; Duplex layout with a 1BR unit and a 2BR unit (live in one and rent the other, or rent both); Full unfinished basement provides additional storage potential