Duplex with Off-Street
For Sale
$279,900
Pending
400 S Washington St, Gettysburg, PA 17325
Each unit includes separate living and dining rooms, two bedrooms, and a walk-up attic.
Property Size2,460 SF
Days on Market14
Property Features for 400 S Washington St
General Information
Standard status
Pending
Size
2,460 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Keller Williams Keystone Realty
Listed By:
David E Monsour · License #RS294813
(717) 319-3408
Source:
Baltimoreharfordhomesforsale
Added: Aug 20
Changed: Sep 2
Last Checked: Sep 1 at 8:07PM
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 Keller Williams Keystone Realty
Investment Insights
Based on property information with market context.
Built in 1900, this 2,460-square-foot duplex contains two residential units with matching two-bedroom, one-bathroom layouts. Each unit has separate living and dining rooms along with a walk-up attic. Exterior features include a covered rear patio, a large backyard, and off-street parking.
The property is located at 400 S Washington St in downtown Gettysburg, within walking distance of shops, restaurants, Gettysburg College, Gettysburg Hospital, and other downtown amenities. One unit is occupied under a month-to-month arrangement, with the tenant paying all utilities.
The property is located at 400 S Washington St in downtown Gettysburg, within walking distance of shops, restaurants, Gettysburg College, Gettysburg Hospital, and other downtown amenities. One unit is occupied under a month-to-month arrangement, with the tenant paying all utilities.
Key Highlights
- 2,460‑square‑foot duplex built in 1900
- Two units, each with 2 bedrooms and 1 full bathroom
- Separate living and dining rooms in each unit
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
$11,348
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
4.05%
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%
$226,960
$227.0K
Cap Rate 7%
$162,114
$162.1K
Cap Rate 9%
$126,089
$126.1K
Market Conditions
NOI Build-Up for 2,460 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
$17.1K $6.96/SF
− Vacancy
−$911 −$0.37/SF
EGI
$16.2K $6.59/SF
− OpEx
−$4.9K −$1.98/SF
NOI
$11.3K $4.61/SF
Area
Adams County, PA
Vacancy
5.32%
Lease Rate
$6.96 /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%
$226,960
Cap Rate 7%
$162,114
Cap Rate 9%
$126,089
Alternative Uses
Best Use
Multifamily LT 5
$162.1K
$141.9K – $189.1K
NOI $11,348 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$148.9K
$130.3K – $173.7K
NOI $10,422 @ 7.0% cap · market cap 3.72%
Theoretical Best
Specialty Retail
$453.1K
$396.5K – $528.6K
NOI $31,716 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,640
Businesses Nearby
Explore this area
Business Placement
Demographics for 17325, PA
27,879
Population
12,021
Households
2.3
Avg Household Size
45
Median Age
34%
College-Educated
92%
High-School Grad
126.0 sq mi
ZIP Area
221
Density / Sq Mi
$79,351
Median Household Income
$32,633
Median Earnings
$956
Median Rent
$278,800
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 - Each unit includes separate living and dining rooms, two bedrooms, and a walk-up attic.
Where is this duplex located?
The property is located at 400 S Washington St Gettysburg, 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: 2,460‑square‑foot duplex built in 1900; Two units, each with 2 bedrooms and 1 full bathroom; Separate living and dining rooms in each unit
