Four-Unit Brick Apartment
New
For Sale
$564,900
43 E MAPLE STREET, Palmyra, PA 17078
Four apartments offer a mix of one-, two-, and three-bedroom layouts.
Property Size3,993 SF
Price / SF$141.47
Days on Market7
Property Features for 43 E MAPLE STREET
General Information
Standard status
Active
Size
3,993 SF
Property subtype
Quadruplex
Units
Unit Mix
1 x 3BR, 1 x 2BR, 2 x 1BR
Multifamily Units
4
Additional Details
Utilities to Site
Yes
Amenities
private decks
front porches
Building Details
Year Built
1925
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Realty
(717) 272-8781
Listed By:
Jonathan M Wyse · License #RS322524
(717) 507-2443
Source:
Cummingsrealtors
Added: Sep 17
Changed: Sep 23
Last Checked: Sep 22 at 4:15PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 3,993-square-foot brick apartment property contains four residential units with a varied configuration: one three-bedroom apartment, one two-bedroom apartment, and two one-bedroom apartments. Built in 1925, the building uses natural gas heat. Upper-level residences include private decks, while the lower units have front porches.
The property is located at 43 E Maple Street in Palmyra, Pennsylvania, near local amenities, major commuting routes, and Hershey attractions. Its four-unit layout accommodates an owner-occupant arrangement with additional rental units, a use explicitly supported by the property’s configuration.
The property is located at 43 E Maple Street in Palmyra, Pennsylvania, near local amenities, major commuting routes, and Hershey attractions. Its four-unit layout accommodates an owner-occupant arrangement with additional rental units, a use explicitly supported by the property’s configuration.
Key Highlights
- Four residential units totaling 3,993 square feet
- Unit mix includes one 3‑bedroom, one 2‑bedroom, and two 1‑bedroom apartments
- Brick construction dating to 1925
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
$35,679
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
6.32%
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%
$713,580
$713.6K
Cap Rate 7%
$509,700
$509.7K
Cap Rate 9%
$396,433
$396.4K
Market Conditions
NOI Build-Up for 3,993 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
$55.1K $13.80/SF
− Vacancy
−$4.1K −$1.04/SF
EGI
$51.0K $12.77/SF
− OpEx
−$15.3K −$3.83/SF
NOI
$35.7K $8.94/SF
Area
Lebanon County, PA
Vacancy
7.50%
Lease Rate
$13.80 /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%
$713,580
Cap Rate 7%
$509,700
Cap Rate 9%
$396,433
Alternative Uses
Best Use
Multifamily LT 5
$509.7K
$446.0K – $594.7K
NOI $35,679 @ 7.0% cap · market cap 6.32%
Second Best
Apartment 5plus
$473.7K
$414.5K – $552.6K
NOI $33,158 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$937.2K
$820.1K – $1.09M
NOI $65,607 @ 7.0% cap · market cap 11.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
Explore this area
Business Placement
Demographics for 17078, PA
23,496
Population
9,602
Households
2.4
Avg Household Size
43
Median Age
35%
College-Educated
94%
High-School Grad
30.1 sq mi
ZIP Area
781
Density / Sq Mi
$84,533
Median Household Income
$47,141
Median Earnings
$1,252
Median Rent
$278,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments offer a mix of one-, two-, and three-bedroom layouts.
Where is this quadplex located?
The property is located at 43 E MAPLE STREET Palmyra, PA.
What is the asking price?
The asking price for this property is $564,900.
What are key features of this property?
This property features: Four residential units totaling 3,993 square feet; Unit mix includes one 3‑bedroom, one 2‑bedroom, and two 1‑bedroom apartments; Brick construction dating to 1925
