2-Unit Duplex with New
423 N CONCORD Street, Lancaster, PA 17603
For Sale
$299,900
Multi-Family, LANCASTER, PA
Property Size1,613 SF
Lot Size0.04 Acres
Price / SF$185.93
Days on Market12
Property Features for 423 N CONCORD Street
General Information
Property type
Property subtype
Rooms
Parking features
Subdivision
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Standard status
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Annual Amount
Utilities
Heating system
Building Details
Year built
Number of units
Building materials
Architectural style
Listing Agency:
Mountain Realty ERA Powered · ERA Real Estate
(717) 390-8701
Listed By:
William Catesby Gilbert · License PA RS355709
(717) 572-1672
Added: Oct 31
Changed: Nov 10
Last Checked: Nov 11 at 6:06AM
MLS# PALA2097720
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.
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Investment Insights
Based on property information with market context.
This 1,613-square-foot duplex in Lancaster has two apartments: a first-floor unit with one bedroom and one full bathroom, and an upper-level unit with two bedrooms and one full bathroom. The lower apartment is vacant; the upstairs apartment is occupied by a long-term tenant. A new roof is in place, and its warranty transfers to the new owner.
Built in 1900, the property has brick, stucco, and stone construction, electric baseboard heat, and a basement. Parking options include on-street spaces and alley access. The parcel measures 0.04 acres and is located at 423 N Concord Street, Lancaster, PA 17603.
Built in 1900, the property has brick, stucco, and stone construction, electric baseboard heat, and a basement. Parking options include on-street spaces and alley access. The parcel measures 0.04 acres and is located at 423 N Concord Street, Lancaster, PA 17603.
Key Highlights
- Two apartments: one with 1 bedroom and 1 full bathroom; the other with 2 bedrooms and 1 full bathroom
- First‑floor unit is vacant; second‑floor unit has a long‑term tenant
- New roof; warranty transfers to the next owner
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,017
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$360,340
$360.3K
Cap Rate 7%
$257,386
$257.4K
Cap Rate 9%
$200,189
$200.2K
Market Conditions
NOI Build-Up for 1,613 SF
Gross rent
$26.1K $16.20/SF
− Vacancy
−$392 −$0.24/SF
EGI
$25.7K $15.96/SF
− OpEx
−$7.7K −$4.79/SF
NOI
$18.0K $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 Rate 5%
$360,340
Cap Rate 7%
$257,386
Cap Rate 9%
$200,189
Alternative Uses
Best Use
Multifamily LT 5
$257.4K
$225.2K – $300.3K
NOI $18,017 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$227.0K
$198.6K – $264.8K
NOI $15,889 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$540.5K
$473.0K – $630.6K
NOI $37,837 @ 7.0% cap · market cap 12.62%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
4,910
Businesses Nearby
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Business Placement
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Lancaster, PA
Properties on Market for Duplexes in Lancaster
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One apartment is vacant, while the upstairs residence has a long-term occupant.
Where is this duplex located?
The property is located at 423 N CONCORD Street Lancaster, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two apartments: one with 1 bedroom and 1 full bathroom; the other with 2 bedrooms and 1 full bathroom; First‑floor unit is vacant; second‑floor unit has a long‑term tenant; New roof; warranty transfers to the next owner
