Brick Colonial
For Sale
$449,900
401 LANCASTER, Shillington, PA 19607
MULTI_FAMILY - Colonial - SHILLINGTON, PA
Property Size1,950 SF
Lot Size0.15 Acres
Price / SF$230.72
Days on Market99
Property Features for 401 LANCASTER
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking
2
Parking features
Driveway, Garage - Detached
Interior features
Built-Ins, Kitchen - Eat-In, Store/Office, Wood Floors
Appliances
Dishwasher, Microwave, Oven/Range - Electric, Refrigerator, Washer/Dryer Hookups Only, WaterHeater
Subdivision
NONE AVAILABLE
Elementary school district
GOVERNOR MIFFLIN
Middle school district
GOVERNOR MIFFLIN
High school district
GOVERNOR MIFFLIN
Standard status
Active
Size
1,950 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
6125
Utilities
Heating system
Hot Water(Heating)
Cooling system
Central Air
Building Details
Year built
1929
Number of units
2
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Springer Realty Group
(484) 498-4000
Listed By:
Mario A Di Nenna · License #RS336165
(610) 396-7048
Added: May 6
Changed: Aug 9
Last Checked: Aug 12 at 7:06AM
MLS# PABK2071796
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.
Investment Insights
Based on property information with market context.
This 1929 brick Colonial duplex offers 1,950 square feet on a 0.15-acre corner parcel. The primary residence includes an eat-in kitchen, formal dining room, living room with brick gas fireplace, office with its own exterior entrance, four bedrooms, a full bath, and a remodeled walk-up attic bedroom with 11-foot ceilings. A separate rear apartment provides three bedrooms, one bath, a kitchen, and living area. Updated finishes include new LVP flooring, doors, and interior paint throughout.
The property also includes a private stone courtyard, private driveway, and detached brick two-car garage. Limited commercial zoning supports office use in the designated workspace. The site is directly across from Governor Mifflin High School and within walking distance of a community pool, parks, shopping, and schools. Central air, hot-water heating, mini-splits, and a gas fireplace provide multiple heating and cooling features.
The property also includes a private stone courtyard, private driveway, and detached brick two-car garage. Limited commercial zoning supports office use in the designated workspace. The site is directly across from Governor Mifflin High School and within walking distance of a community pool, parks, shopping, and schools. Central air, hot-water heating, mini-splits, and a gas fireplace provide multiple heating and cooling features.
Key Highlights
- Duplex on a 0.15‑acre corner parcel with 1,950 square feet
- Primary residence includes 4 bedrooms plus a remodeled attic bedroom with 11‑foot ceilings
- Separate rear apartment offers 3 bedrooms, 1 bath, kitchen, and living area
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
$19,224
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
4.27%
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%
$384,480
$384.5K
Cap Rate 7%
$274,629
$274.6K
Cap Rate 9%
$213,600
$213.6K
Market Conditions
NOI Build-Up for 1,950 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
$28.5K $14.64/SF
− Vacancy
−$1.1K −$0.56/SF
EGI
$27.5K $14.08/SF
− OpEx
−$8.2K −$4.23/SF
NOI
$19.2K $9.86/SF
Area
Berks County, PA
Vacancy
3.80%
Lease Rate
$14.64 /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%
$384,480
Cap Rate 7%
$274,629
Cap Rate 9%
$213,600
Alternative Uses
Best Use
Multifamily LT 5
$274.6K
$240.3K – $320.4K
NOI $19,224 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$240.0K
$210.0K – $280.1K
NOI $16,803 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$320.1K
$280.1K – $373.5K
NOI $22,408 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
540
Businesses Nearby
Explore this area
Business Placement
Demographics for 19607, PA
23,431
Population
10,177
Households
2.3
Avg Household Size
42
Median Age
31%
College-Educated
94%
High-School Grad
11.2 sq mi
ZIP Area
2,092
Density / Sq Mi
$80,550
Median Household Income
$46,953
Median Earnings
$1,283
Median Rent
$210,800
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Corner property combines two residential units with a separately accessed office area and detached garage.
Where is this duplex located?
The property is located at 401 LANCASTER Shillington, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Duplex on a 0.15‑acre corner parcel with 1,950 square feet; Primary residence includes 4 bedrooms plus a remodeled attic bedroom with 11‑foot ceilings; Separate rear apartment offers 3 bedrooms, 1 bath, kitchen, and living area
