Traditional Residential Income
For Sale
$739,999
431 Locust St, Columbia, PA 17512
Traditional residential income property with natural gas service and both off-street and on-street parking options.
Property Size5,211 SF
Price / SF$142.01
Days on Market191
Property Features for 431 Locust St
General Information
Standard status
Active
Size
5,211 SF
Total Parking Spaces
3
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$7,540
Amenities
Natural Gas
Off Street, On Street, Detached
Traditional
Building Details
Building Size
5,211 SF
Year Built
1920
Listing Agency:
Long & Foster Real Estate, Inc.
(215) 617-3098
Listed By:
Samantha Robinson
(215) 617-3098
Source:
Evrealestate
Added: Feb 21
Changed: Aug 30
Last Checked: Aug 31 at 2:54PM
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 Long & Foster Real Estate, Inc.
Investment Insights
Based on property information with market context.
This traditional residential income property at 431 Locust St in Columbia, Pennsylvania, was built in 1920. The property includes natural gas among its interior features and offers off-street and on-street parking options.
The property is located in Lancaster County and has a listed property size of 5211. Exterior details include a detached feature and traditional styling.
The property is located in Lancaster County and has a listed property size of 5211. Exterior details include a detached feature and traditional styling.
Key Highlights
- Traditional residential income property built in 1920
- Listed property size of 5211
- Natural gas interior feature
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
$51,331
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
6.94%
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%
$1,026,620
$1.0M
Cap Rate 7%
$733,300
$733.3K
Cap Rate 9%
$570,344
$570.3K
Market Conditions
NOI Build-Up for 5,211 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
$93.8K $18.00/SF
− Vacancy
−$469 −$0.09/SF
EGI
$93.3K $17.91/SF
− OpEx
−$42.0K −$8.06/SF
NOI
$51.3K $9.85/SF
Area
Lancaster County, PA
Vacancy
0.50%
Lease Rate
$18.00 /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%
$1,026,620
Cap Rate 7%
$733,300
Cap Rate 9%
$570,344
Alternative Uses
Best Use
Apartment 5plus
$733.3K
$641.6K – $855.5K
NOI $51,331 @ 7.0% cap · market cap 6.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,237 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
742
Businesses Nearby
Explore this area
Business Placement
Demographics for 17512, PA
18,267
Population
8,255
Households
2.2
Avg Household Size
42
Median Age
23%
College-Educated
86%
High-School Grad
16.0 sq mi
ZIP Area
1,142
Density / Sq Mi
$61,130
Median Household Income
$42,702
Median Earnings
$1,067
Median Rent
$221,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Traditional residential income property with natural gas service and both off-street and on-street parking options.
Where is this residential income property located?
The property is located at 431 Locust St Columbia, PA.
What is the asking price?
The asking price for this property is $739,999.
What are key features of this property?
This property features: Traditional residential income property built in 1920; Listed property size of 5211; Natural gas interior feature
