2-Unit Duplex with Off-Street
350 S Partridge Street, Lebanon, PA 17042
For Sale
New
$185,000
Each apartment has its own electric and gas service, while water and sewer are metered together.
Property Size1,190 SF
Price / SF$155.46
Days on Market4
Property Features for 350 S Partridge Street
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Utilities to Site
Building Details
Year Built
Listing Agency:
Iron Valley Real Estate
Listed By:
Amanda Krall · License PA #3234922
(717) 514-4772
Source:
Yorkhomes
Added: Nov 8
Changed: Nov 9
Last Checked: Nov 8 at 1:52AM
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 Iron Valley Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This two-unit duplex at 350 S Partridge Street in Lebanon has two apartments of approximately 550 square feet each. Both include a living room, bedroom, full bathroom, and kitchenette. New flooring has been installed throughout, and both units are vacant. Off-street parking is available.
Electric and gas service are separate for each apartment. The first-floor unit has gas heat and cooking; electric baseboard heat serves the second-floor unit. Water and sewer are metered together. The property was built in 1940.
Electric and gas service are separate for each apartment. The first-floor unit has gas heat and cooking; electric baseboard heat serves the second-floor unit. Water and sewer are metered together. The property was built in 1940.
Key Highlights
- Two apartments, each approximately 550 square feet
- Living room, bedroom, full bathroom, and kitchenette in each unit
- New flooring throughout; both units are vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,633
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,660
$212.7K
Cap Rate 7%
$151,900
$151.9K
Cap Rate 9%
$118,144
$118.1K
Market Conditions
NOI Build-Up for 1,190 SF
Gross rent
$16.4K $13.80/SF
− Vacancy
−$1.2K −$1.04/SF
EGI
$15.2K $12.77/SF
− OpEx
−$4.6K −$3.83/SF
NOI
$10.6K $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 Rate 5%
$212,660
Cap Rate 7%
$151,900
Cap Rate 9%
$118,144
Alternative Uses
Best Use
Multifamily LT 5
$151.9K
$132.9K – $177.2K
NOI $10,633 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$141.2K
$123.5K – $164.7K
NOI $9,882 @ 7.0% cap · market cap 5.34%
Theoretical Best
Office A
$279.3K
$244.4K – $325.9K
NOI $19,552 @ 7.0% cap · market cap 10.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,511
Businesses Nearby
Explore this area
Business Placement
Demographics for 17042, PA
40,618
Population
17,067
Households
2.4
Avg Household Size
43
Median Age
28%
College-Educated
88%
High-School Grad
67.7 sq mi
ZIP Area
600
Density / Sq Mi
$76,399
Median Household Income
$45,429
Median Earnings
$1,096
Median Rent
$222,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Duplexes in Lebanon County, PA
Properties on Market for Duplexes in Lebanon County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each apartment has its own electric and gas service, while water and sewer are metered together.
Where is this duplex located?
The property is located at 350 S Partridge Street Lebanon, PA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two apartments, each approximately 550 square feet; Living room, bedroom, full bathroom, and kitchenette in each unit; New flooring throughout; both units are vacant
