Building Details

Year built 1920

Number of units 3

Building materials Brick

Architectural style Other

Listing Agency: NextHome Capital Realty m***@comcast.net Show Phone

Listed By: Thomas Ryan Bechtold · License #rs345409 Show Phone

Added: Oct 19 Last Checked: Oct 20 at 8:06AM

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MLS# PALN2029106

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.

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Investment Insights

Based on property information with market context.

This 1920 brick triplex contains 2,627 square feet across three residential units on a 0.18-acre lot. Forced-air heating serves the building, and a detached garage provides on-site parking. The largest unit is expected to be vacant, while the other units are currently occupied.

The property is at 36 N Railroad Street in Annville, Pennsylvania. A garage rental is also identified as a possibility.

Key Highlights

• Three‑unit residential property
• 2,627 square feet on a 0.18‑acre lot
• Brick construction; built in 1920

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$23,474

Cap Rate

7.45%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$469,480 $469.5K

Cap Rate 7%

$335,343 $335.3K

Cap Rate 9%

$260,822 $260.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,627 SF

Gross rent

$36.3K $13.80/SF

− Vacancy

−$2.7K −$1.04/SF

EGI

$33.5K $12.77/SF

− OpEx

−$10.1K −$3.83/SF

NOI

$23.5K $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%

$469,480

Cap Rate 7%

$335,343

Cap Rate 9%

$260,822

Alternative Uses

Best Use

Multifamily LT 5

$335.3K

$293.4K – $391.2K (±1% cap)

NOI $23,474 @ 7.0% cap · market cap 7.45%

Second Best

Apartment 5plus

$311.6K

$272.7K – $363.6K (±1% cap)

NOI $21,815 @ 7.0% cap · market cap 6.93%

Theoretical Best

Office A

$616.6K

$539.5K – $719.4K (±1% cap)

NOI $43,163 @ 7.0% cap · market cap 13.71%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Lease Details

3

Residential units

100%

Occupancy

Location Intelligence

Trade Area within ½ mile

310

Businesses Nearby

Explore this area Business Placement

Demographics for 17003, PA

12,329

Population

4,507

Households

2.7

Avg Household Size

40

Median Age

33%

College-Educated

93%

High-School Grad

42.7 sq mi

ZIP Area

289

Density / Sq Mi

$87,350

Median Household Income

$36,394

Median Earnings

$1,088

Median Rent

$242,200

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Waterfront Multifamily with Cabins

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Frequently Asked Questions

What type of property is this?

Triplex - Three residential units are currently occupied, with the largest unit set to become vacant.

Where is this triplex located?

The property is located at 36 N RAILROAD Street Annville, PA.

What is the asking price?

The asking price for this property is $314,900.

What are key features of this property?

This property features: Three‑unit residential property; 2,627 square feet on a 0.18‑acre lot; Brick construction; built in 1920