Residential Income
For Sale
$372,000
Pending
312 North Reservoir Street, Lancaster, PA 17602
Built in 1900 with natural gas service and a traditional exterior presentation.
Property Size1,742 SF
Days on Market179
Property Features for 312 North Reservoir Street
General Information
Standard status
Pending
Size
1,742 SF
Property subtype
Multi-Family / Fee Simple
Zoning
R
Taxes and HOA fees
Annual Taxes
$4,115
Amenities
No
Water Heater, Washer/Dryer Hookups Only, Stainless Steel Appliances
https://vimeo.com/1170575455?fl=pl&fe=sh
No Pool
Above Grade, Below Grade
Building Details
Year Built
1900
Listing Agency:
Houwzer, LLC
(267) 765-2080
Listed By:
Patricia Gesswein · License #RS067440
(267) 765-2080
Source:
Compass
Added: Mar 5
Changed: Aug 29
Last Checked: Aug 31 at 1:03AM
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 Houwzer, LLC
Investment Insights
Based on property information with market context.
This residential income property dates to 1900 and has a property size of 1,742. Interior features include natural gas and a full feature, while the exterior is identified as traditional with an on-street component.
The property is located at 312 N Reservoir St in Lancaster, Pennsylvania. From US-30, access is via PA-23/New Holland Ave., continuing toward Lancaster City before turning onto N Reservoir St. The property is on the right, just beyond E Lemon St.
The property is located at 312 N Reservoir St in Lancaster, Pennsylvania. From US-30, access is via PA-23/New Holland Ave., continuing toward Lancaster City before turning onto N Reservoir St. The property is on the right, just beyond E Lemon St.
Key Highlights
- Property size: 1742
- Built in 1900
- Natural gas interior feature
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
$17,160
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
4.61%
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%
$343,200
$343.2K
Cap Rate 7%
$245,143
$245.1K
Cap Rate 9%
$190,667
$190.7K
Market Conditions
NOI Build-Up for 1,742 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
$31.4K $18.00/SF
− Vacancy
−$157 −$0.09/SF
EGI
$31.2K $17.91/SF
− OpEx
−$14.0K −$8.06/SF
NOI
$17.2K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /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%
$343,200
Cap Rate 7%
$245,143
Cap Rate 9%
$190,667
Alternative Uses
Best Use
Apartment 5plus
$245.1K
$214.5K – $286.0K
NOI $17,160 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$583.8K
$510.8K – $681.1K
NOI $40,863 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
903
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1900 with natural gas service and a traditional exterior presentation.
Where is this residential income property located?
The property is located at 312 North Reservoir Street Lancaster, PA.
What is the asking price?
The asking price for this property is $372,000.
What are key features of this property?
This property features: Property size: 1742; Built in 1900; Natural gas interior feature
