Brick
New
For Sale
$325,000
43 W MAIN Street, Annville, PA 17003
Multi-Family, ANNVILLE, PA
Property Size2,643 SF
Lot Size0.23 Acres
Price / SF$122.97
Days on Market3
Property Features for 43 W MAIN Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
6
Parking features
Off Street, On Street
Interior features
Kitchen - Eat-In
Appliances
Dryer, Oven/Range - Electric, Refrigerator, Washer
Elementary school district
ANNVILLE-CLEONA
Middle school district
ANNVILLE-CLEONA
High school district
ANNVILLE-CLEONA
Standard status
Active
Size
2,643 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
4929
Utilities
Heating system
Hot Water(Heating), Baseboard
Cooling system
Wall Unit(s)
Building Details
Year built
1880
Number of units
3
Building materials
Stick Built, Brick
Architectural style
Other
Listing Agency:
Kingsway Realty - Ephrata
(717) 733-4777
Listed By:
Keith Snyder · License #RS303415
(717) 376-4029
Added: Aug 27
Last Checked: Aug 29 at 11:06AM
MLS# PALN2028380
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 2,643-square-foot brick triplex sits on a level 0.23-acre lot and includes three residential units. Unit 43 is occupied under a month-to-month lease and offers a two-story layout with three bedrooms, one bathroom, a kitchen, dining room, living room, laundry hookup, and hardwood floors. Unit 45A is a vacant main-level one-bedroom apartment with one bathroom, a private deck, and an included washer and dryer. Unit 45B is a vacant upper-level one-bedroom apartment with natural gas heat.
Property improvements include replacement windows, select exterior doors, new fascia and gutters, stainless steel chimney liners, and wall-unit air conditioning in each unit. Natural gas hookups are present in the building. The property provides off-street and on-street parking, while owned appliances include a dryer, electric oven/range, refrigerator, and washer.
The property is in the Annville-Cleona School District, within walking distance of local shops and LVC, with access to Hershey Med, Lebanon VA, and Fort Indiantown Gap.
Property improvements include replacement windows, select exterior doors, new fascia and gutters, stainless steel chimney liners, and wall-unit air conditioning in each unit. Natural gas hookups are present in the building. The property provides off-street and on-street parking, while owned appliances include a dryer, electric oven/range, refrigerator, and washer.
The property is in the Annville-Cleona School District, within walking distance of local shops and LVC, with access to Hershey Med, Lebanon VA, and Fort Indiantown Gap.
Key Highlights
- Three‑unit brick property on a level 0.23‑acre lot with 2,643 square feet
- Unit 43: occupied two‑story layout with 3 bedrooms, 1 bath, hardwood floors, and laundry hookup
- Unit 45A: vacant main‑level 1‑bedroom unit with private deck and washer and dryer
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
$23,617
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
7.27%
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%
$472,340
$472.3K
Cap Rate 7%
$337,386
$337.4K
Cap Rate 9%
$262,411
$262.4K
Market Conditions
NOI Build-Up for 2,643 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
$36.5K $13.80/SF
− Vacancy
−$2.7K −$1.04/SF
EGI
$33.7K $12.77/SF
− OpEx
−$10.1K −$3.83/SF
NOI
$23.6K $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%
$472,340
Cap Rate 7%
$337,386
Cap Rate 9%
$262,411
Alternative Uses
Best Use
Multifamily LT 5
$337.4K
$295.2K – $393.6K
NOI $23,617 @ 7.0% cap · market cap 7.27%
Second Best
Apartment 5plus
$313.5K
$274.4K – $365.8K
NOI $21,948 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$620.4K
$542.8K – $723.8K
NOI $43,426 @ 7.0% cap · market cap 13.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
Explore this area
Business Placement
Demographics for 17003, PA
12,329
Population
4,507
Households
2.7
Avg Household Size
40
Median Age
33%
College-Educated
93%
High-School Grad
42.7 sq mi
ZIP Area
289
Density / Sq Mi
$87,350
Median Household Income
$36,394
Median Earnings
$1,088
Median Rent
$242,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include one occupied two-story apartment and two vacant units with off-street parking.
Where is this triplex located?
The property is located at 43 W MAIN Street Annville, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Three‑unit brick property on a level 0.23‑acre lot with 2,643 square feet; Unit 43: occupied two‑story layout with 3 bedrooms, 1 bath, hardwood floors, and laundry hookup; Unit 45A: vacant main‑level 1‑bedroom unit with private deck and washer and dryer
