Semi-Detached Duplex with
For Sale
$400,000
37 Mechanic Street, Reinholds, PA 17569
Well-maintained two-unit semi-detached duplex with two 2-bedroom, 1-bath sides and seven 10' x 20' garages.
Property Size1,932 SF
Price / SF$207.04
Days on Market107
Property Features for 37 Mechanic Street
General Information
Standard status
Active
Size
1,932 SF
Total Parking Spaces
7
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,980
Amenities
No
Dishwasher, Oven/Range - Electric, Refrigerator, Washer/Dryer Hookups Only
Double Hung, Replacement, Vinyl Clad
Attic, Bathroom - Stall Shower, Bathroom - Tub Shower, Ceiling Fan(s), Kitchen - Eat-In
Carbon Monoxide Detector(s), Smoke Detector
No Pool
Porch(es), Roof
Building Details
Year Built
1930
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
Listed By:
Cory Showalter · License #RS322153
(717) 587-2368
Source:
Compass
Added: May 25
Changed: Aug 8
Last Checked: Jul 24 at 12:48PM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
Well maintained two-unit semi-detached duplex designed for owner occupancy or rental income. Each side provides two bedrooms and one bathroom. Improvements noted include replacement windows and a new roof. The vacant unit at 39 Mechanic is described as having new carpet, new paint downstairs, and a bathroom with tub and shower, along with a small deck off the house. The listing also notes a privacy violation for the bedrooms.
The property at 37 Mechanic Street, Reinholds, PA 17569, includes seven garages measuring 10' x 20' with electric garage door openers to the rear of the property; six of the garages are currently rented.
Additional configuration details include each unit having a similar layout with two bedrooms and one bath, and the presence of the detached garage income component through the leased garage spaces.
The property at 37 Mechanic Street, Reinholds, PA 17569, includes seven garages measuring 10' x 20' with electric garage door openers to the rear of the property; six of the garages are currently rented.
Additional configuration details include each unit having a similar layout with two bedrooms and one bath, and the presence of the detached garage income component through the leased garage spaces.
Key Highlights
- Well‑maintained semi‑detached 2‑unit duplex with each side offering 2 bedrooms and 1 bath
- Seven 10' x 20' garages behind the property, each with electric garage door openers; 6 garages are rented
- Replacement vinyl‑clad double‑hung windows and a new roof
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
$21,580
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
5.40%
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%
$431,600
$431.6K
Cap Rate 7%
$308,286
$308.3K
Cap Rate 9%
$239,778
$239.8K
Market Conditions
NOI Build-Up for 1,932 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
$31.3K $16.20/SF
− Vacancy
−$469 −$0.24/SF
EGI
$30.8K $15.96/SF
− OpEx
−$9.2K −$4.79/SF
NOI
$21.6K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /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%
$431,600
Cap Rate 7%
$308,286
Cap Rate 9%
$239,778
Alternative Uses
Best Use
Multifamily LT 5
$308.3K
$269.8K – $359.7K
NOI $21,580 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$271.9K
$237.9K – $317.2K
NOI $19,031 @ 7.0% cap · market cap 4.76%
Theoretical Best
Office A
$647.4K
$566.5K – $755.3K
NOI $45,320 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
107
Businesses Nearby
Explore this area
Business Placement
Demographics for 17569, PA
6,198
Population
2,661
Households
2.3
Avg Household Size
39
Median Age
22%
College-Educated
85%
High-School Grad
16.6 sq mi
ZIP Area
373
Density / Sq Mi
$92,480
Median Household Income
$53,811
Median Earnings
$1,074
Median Rent
$266,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-unit semi-detached duplex with two 2-bedroom, 1-bath sides and seven 10' x 20' garages.
Where is this duplex located?
The property is located at 37 Mechanic Street Reinholds, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Well‑maintained semi‑detached 2‑unit duplex with each side offering 2 bedrooms and 1 bath; Seven 10' x 20' garages behind the property, each with electric garage door openers; 6 garages are rented; Replacement vinyl‑clad double‑hung windows and a new roof
