Fully Occupied Duplex
348 E NEW Street Lancaster, PA 17602
New
For Sale
$279,900
MULTI_FAMILY - Other - LANCASTER, PA
Property Size1,631 SF
Lot Size0.05 Acres
Price / SF$171.61
Days on Market5
Property Features for 348 E NEW Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Rooms
- Basement
- Parking features
- On Street
- Standard status
- Active
- Size
- 1,631 SF
- Lot size
- 0.05 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4239
Utilities
- Heating system
- Baseboard, Electric (Heating), Hot Water(Heating)
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1900
- Number of units
- 2
- Building materials
- Brick
- Architectural style
- Other
Listing Agency:
Kingsway Realty - Lancaster
(717) 569-8701
Listed By:
Ervin J Barkman · License #RS168511L
(717) 468-4424
Added: Jul 22
Last Checked: Jul 26 at 8:06PM
MLS# PALA2092128
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 duplex at 348 E NEW Street, Lancaster, PA 17602 is offered for sale as a low-maintenance residential income property. The asset is fully occupied and professionally managed, designed to operate as a productive holding from day one. With a listed property size of 1,631 square feet on a 0.05-acre lot, it provides a straightforward, manageable configuration for an owner who wants an income-producing multi-unit asset.
Located in Lancaster City’s Ross northeast neighborhood, the property benefits from existing tenant occupancy and in-place management. The listing is presented for buyers seeking their first rental or looking to add to an existing rental portfolio.
The seller has purchased a commercial property for their business and is selling this duplex to raise capital.
Located in Lancaster City’s Ross northeast neighborhood, the property benefits from existing tenant occupancy and in-place management. The listing is presented for buyers seeking their first rental or looking to add to an existing rental portfolio.
The seller has purchased a commercial property for their business and is selling this duplex to raise capital.
Key Highlights
- Brick construction with window unit(s) for cooling
- Heating includes baseboard, electric heating, and hot water heating
- On‑street parking
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.4k | $16.20 |
| − Vacancy | −$396 | −$0.24 |
| EGI | $26.0k | $15.96 |
| − OpEx | −$7.8k | −$4.79 |
| NOI | $18.2k | $11.17 |
1,631 SF · lease $16.20/SF/yr · vacancy 1.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$260.3K
$227.7K – $303.6K
NOI $18,218 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$229.5K
$200.8K – $267.8K
NOI $16,066 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$546.6K
$478.2K – $637.7K
NOI $38,259 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex in Lancaster with professionally managed, currently occupied units, offered for sale as a low-maintenance income asset.
Where is this duplex located?
The property is located at 348 E NEW Street Lancaster, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Brick construction with window unit(s) for cooling; Heating includes baseboard, electric heating, and hot water heating; On‑street parking
