Building Details

Building Size 1,573 SF

Year Built 1926

Listing Agency: Keller Williams Keystone Realty

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

Source: Evrealestate

Added: Sep 20 Changed: Sep 26 Last Checked: Sep 26 at 11:31AM

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Investment Insights

Based on property information with market context.

Built in 1926, this residential income property has a Colonial exterior and a detached garage. Interior features include natural gas radiant heat, a gas water heater, and window-unit cooling. The interior includes partially finished and unfinished areas, with both interior and exterior entry points.

The property is at 404 N 2nd Street in Wormleysburg, Pennsylvania, and is zoned VMU 1.

Key Highlights

• Detached garage with off‑street and on‑street parking
• Natural gas radiant heat and gas water heater
• Window‑unit cooling

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

$13,286

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

7.82%

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%

$265,720 $265.7K

Cap Rate 7%

$189,800 $189.8K

Cap Rate 9%

$147,622 $147.6K

Market Conditions

NOI Build-Up for 1,573 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

$25.7K $16.32/SF

− Vacancy

−$1.5K −$0.96/SF

EGI

$24.2K $15.36/SF

− OpEx

−$10.9K −$6.91/SF

NOI

$13.3K $8.45/SF

Area

Cumberland County, PA

Vacancy

5.90%

Lease Rate

$16.32 /SF/Yr

Expense Ratio

45.00%

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%

$265,720

Cap Rate 7%

$189,800

Cap Rate 9%

$147,622

Alternative Uses

Best Use

Apartment 5plus

$189.8K

$166.1K – $221.4K (±1% cap)

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

Second Best

—

—

no second resolved use

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.

Property Analytics

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Current Use

Residential income properties

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.

Location Intelligence

Trade Area within ½ mile

1,103

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

Questions? Ask Rey

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What type of property is this? Where is this residential income properties 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?

Residential income property - The property includes a detached garage, off-street and on-street parking, and natural gas radiant heat.

Where is this residential income property located?

The property is located at 404 N 2ND STREET 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: Detached garage with off‑street and on‑street parking; Natural gas radiant heat and gas water heater; Window‑unit cooling