Duplex With Two-Car
For Sale
$325,000
Pending
437 S QUEEN STREET, Lancaster, PA 17603
Two-unit residential property with separately rented garage bays near Southern Market.
Property Size1,798 SF
Days on Market69
Property Features for 437 S QUEEN STREET
General Information
Standard status
Pending
Size
1,798 SF
Total Parking Spaces
2
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
RE/MAX SmartHub Realty
(717) 208-4444
Listed By:
Ian Matthew Hey · License #RS351384
(717) 940-7612
Source:
Cummingsrealtors
Added: Aug 6
Changed: Oct 13
Last Checked: Oct 12 at 6:59PM
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 RE/MAX SmartHub Realty
Investment Insights
Based on property information with market context.
This 1,798-square-foot duplex was built in 1900 and includes two residential units along with a two-car garage. Both garage bays are currently rented, providing an additional occupied component alongside the residential layout.
The property is located at 437 S Queen Street in Lancaster, PA, within Lancaster City and near Southern Market. Its central setting places the building within a walkable area, while the existing garage configuration adds functional space beyond the two residential units.
The property is located at 437 S Queen Street in Lancaster, PA, within Lancaster City and near Southern Market. Its central setting places the building within a walkable area, while the existing garage configuration adds functional space beyond the two residential units.
Key Highlights
- Two‑unit duplex at 1,798 square feet
- Two‑car garage with both bays currently rented
- Built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,083
Cap Rate
6.18%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$401,660
$401.7K
Cap Rate 7%
$286,900
$286.9K
Cap Rate 9%
$223,144
$223.1K
Market Conditions
NOI Build-Up for 1,798 SF
Gross rent
$29.1K $16.20/SF
− Vacancy
−$437 −$0.24/SF
EGI
$28.7K $15.96/SF
− OpEx
−$8.6K −$4.79/SF
NOI
$20.1K $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%
$401,660
Cap Rate 7%
$286,900
Cap Rate 9%
$223,144
Alternative Uses
Best Use
Multifamily LT 5
$286.9K
$251.0K – $334.7K
NOI $20,083 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$253.0K
$221.4K – $295.2K
NOI $17,711 @ 7.0% cap · market cap 5.45%
Theoretical Best
Office A
$602.5K
$527.2K – $702.9K
NOI $42,176 @ 7.0% cap · market cap 12.98%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
5,047
Businesses Nearby
Explore this area
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
Check the figures for this property
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?
Duplex - Two-unit residential property with separately rented garage bays near Southern Market.
Where is this duplex located?
The property is located at 437 S QUEEN STREET Lancaster, 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: Two‑unit duplex at 1,798 square feet; Two‑car garage with both bays currently rented; Built in 1900
