Listing Agency: Yorktowne Property Shoppe, LLC i***@ypsrentals.com Show Phone

Listed By: Michael S Kushla II · License #AB069352 Show Phone

Source: Exprealty

Added: Jul 15, 2024 Changed: Oct 13 Last Checked: Oct 12 at 9:49PM

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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 Yorktowne Property Shoppe, LLC

Investment Insights

Based on property information with market context.

This 1,573-square-foot duplex contains two one-bedroom residences arranged across separate levels. The first-floor unit includes a large basement, while the upstairs residence features an open interior layout and abundant natural light. The property has received ongoing updates over time and is described as being in very good condition.

The first-floor occupant has remained in place for 20+ years and intends to continue occupying the unit. Located at 404 N 2nd St in Wormleysburg, Pennsylvania, the property offers a two-unit configuration with distinct floor plans and a useful lower-level basement.

Key Highlights

• 1,573‑square‑foot duplex with two one‑bedroom units
• First‑floor residence includes a large basement
• Upstairs unit has open rooms and abundant natural light

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$14,966

Cap Rate

8.80%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$299,320 $299.3K

Cap Rate 7%

$213,800 $213.8K

Cap Rate 9%

$166,289 $166.3K

Market Conditions

NOI Build-Up for 1,573 SF

Gross rent

$22.7K $14.40/SF

− Vacancy

−$1.3K −$0.81/SF

EGI

$21.4K $13.59/SF

− OpEx

−$6.4K −$4.08/SF

NOI

$15.0K $9.51/SF

Area

Cumberland County, PA

Vacancy

5.61%

Lease Rate

$14.40 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$299,320

Cap Rate 7%

$213,800

Cap Rate 9%

$166,289

Alternative Uses

Best Use

Multifamily LT 5

$213.8K

$187.1K – $249.4K (±1% cap)

NOI $14,966 @ 7.0% cap · market cap 8.80%

Second Best

Apartment 5plus

$189.8K

$166.1K – $221.4K (±1% cap)

NOI $13,286 @ 7.0% cap · market cap 7.82%

Theoretical Best

Office A

$365.4K

$319.7K – $426.3K (±1% cap)

NOI $25,578 @ 7.0% cap · market cap 15.05%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Parts Store Daycare Center Grocery & Convenience Store Auto Repair Shop Plumbing Service Electrical Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

516

Businesses Nearby

Explore this area Business Placement

Demographics for 17043, PA

6,184

Population

3,037

Households

2

Avg Household Size

41

Median Age

37%

College-Educated

92%

High-School Grad

2.1 sq mi

ZIP Area

2,945

Density / Sq Mi

$66,752

Median Household Income

$46,436

Median Earnings

$968

Median Rent

$216,300

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Two one-bedroom residences occupy separate floors, with a basement included in the lower unit.

Where is this duplex located?

The property is located at 404 N 2nd St Wormleysburg, PA.

What is the asking price?

The asking price for this property is $169,995.

What are key features of this property?

This property features: 1,573‑square‑foot duplex with two one‑bedroom units; First‑floor residence includes a large basement; Upstairs unit has open rooms and abundant natural light