New Two-Unit
New
For Sale
$530,000
3653-3655 KORTNI DR, Dover, PA 17315
Two residences offer three-bedroom, two-and-a-half-bath layouts.
Property Size2,524 SF
Price / SF$209.98
Days on Market4
Property Features for 3653-3655 KORTNI DR
General Information
Standard status
Active
Size
2,524 SF
Class
Class A
Property subtype
Multi-family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Cummings & Co. Realtors
(717) 900-5990
Listed By:
Andrew Spangenberger · License #RS327813
(717) 683-0525
Source:
Imanirealtors
Added: Sep 9
Changed: Sep 12
Last Checked: Sep 12 at 7:22AM
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 Cummings & Co. Realtors
Investment Insights
Based on property information with market context.
This newly constructed duplex contains 2,524 square feet and has never been occupied. The property includes two separate residences, each configured with three bedrooms and 2.5 baths, creating a consistent two-home layout for ownership and management.
Located at 3653-3655 Kortni Dr in Dover, PA 17315, the duplex is offered for sale and represents one of two duplexes available. The property information identifies a 7% cap rate and describes the homes as low-maintenance with straightforward management characteristics.
Located at 3653-3655 Kortni Dr in Dover, PA 17315, the duplex is offered for sale and represents one of two duplexes available. The property information identifies a 7% cap rate and describes the homes as low-maintenance with straightforward management characteristics.
Key Highlights
- 2,524‑square‑foot duplex
- Two separate residences
- Each home has 3 bedrooms and 2.5 baths
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
$25,044
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
4.73%
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%
$500,880
$500.9K
Cap Rate 7%
$357,771
$357.8K
Cap Rate 9%
$278,267
$278.3K
Market Conditions
NOI Build-Up for 2,524 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
$37.9K $15.00/SF
− Vacancy
−$2.1K −$0.83/SF
EGI
$35.8K $14.17/SF
− OpEx
−$10.7K −$4.25/SF
NOI
$25.0K $9.92/SF
Area
York County, PA
Vacancy
5.50%
Lease Rate
$15.00 /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%
$500,880
Cap Rate 7%
$357,771
Cap Rate 9%
$278,267
Alternative Uses
Best Use
Multifamily LT 5
$357.8K
$313.1K – $417.4K
NOI $25,044 @ 7.0% cap · market cap 4.73%
Second Best
Apartment 5plus
$332.3K
$290.8K – $387.7K
NOI $23,263 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$730.8K
$639.4K – $852.6K
NOI $51,155 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
26
Businesses Nearby
Explore this area
Business Placement
Demographics for 17315, PA
26,317
Population
11,442
Households
2.3
Avg Household Size
44
Median Age
21%
College-Educated
92%
High-School Grad
58.1 sq mi
ZIP Area
453
Density / Sq Mi
$81,058
Median Household Income
$47,933
Median Earnings
$1,189
Median Rent
$222,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer three-bedroom, two-and-a-half-bath layouts.
Where is this duplex located?
The property is located at 3653-3655 KORTNI DR Dover, PA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: 2,524‑square‑foot duplex; Two separate residences; Each home has 3 bedrooms and 2.5 baths
