Renovated Three-Unit
For Sale
$284,000
471 W KING STREET, York, PA 17401
Updated finishes and systems serve three separate residential units in a brick building.
Property Size1,800 SF
Price / SF$157.78
Days on Market11
Property Features for 471 W KING STREET
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Triplex
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
3
Building Details
Year Built
1910
Buildings
1
Construction
brick
Listing Agency:
JRHeller.com LLC
(717) 803-6446
Listed By:
Josh Heller · License #RS338767
(717) 803-6446
Source:
Cummingsrealtors
Added: Aug 2
Changed: Aug 12
Last Checked: Aug 12 at 6:34AM
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 JRHeller.com LLC
Investment Insights
Based on property information with market context.
This brick triplex contains three separate residential units and has undergone a full interior renovation. Improvements include refreshed finishes, updated systems, and modernized interiors across the building. The property was built in 1910 and has a reported property size of 1,800.
Located at 471 W King Street in York, the building is positioned in a walkable section with access to downtown amenities, employment centers, shopping, and public transit. Public water and sewer serve the property. The three-unit configuration supports use as a multifamily rental property or an owner-occupant arrangement with additional residential units.
Located at 471 W King Street in York, the building is positioned in a walkable section with access to downtown amenities, employment centers, shopping, and public transit. Public water and sewer serve the property. The three-unit configuration supports use as a multifamily rental property or an owner-occupant arrangement with additional residential units.
Key Highlights
- Three separate residential units in a single brick building
- Full interior renovation with updated finishes and systems
- Built in 1910
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
$17,861
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
6.29%
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%
$357,220
$357.2K
Cap Rate 7%
$255,157
$255.2K
Cap Rate 9%
$198,456
$198.5K
Market Conditions
NOI Build-Up for 1,800 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
$27.0K $15.00/SF
− Vacancy
−$1.5K −$0.83/SF
EGI
$25.5K $14.17/SF
− OpEx
−$7.7K −$4.25/SF
NOI
$17.9K $9.92/SF
Area
York County, PA
Vacancy
5.50%
Lease Rate
$15.00 /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%
$357,220
Cap Rate 7%
$255,157
Cap Rate 9%
$198,456
Alternative Uses
Best Use
Multifamily LT 5
$255.2K
$223.3K – $297.7K
NOI $17,861 @ 7.0% cap · market cap 6.29%
Second Best
Apartment 5plus
$237.0K
$207.4K – $276.5K
NOI $16,590 @ 7.0% cap · market cap 5.84%
Theoretical Best
Office A
$521.2K
$456.0K – $608.0K
NOI $36,481 @ 7.0% cap · market cap 12.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,679
Businesses Nearby
Explore this area
Business Placement
Demographics for 17401, PA
18,771
Population
8,202
Households
2.3
Avg Household Size
32
Median Age
16%
College-Educated
80%
High-School Grad
1.5 sq mi
ZIP Area
12,514
Density / Sq Mi
$41,569
Median Household Income
$30,329
Median Earnings
$940
Median Rent
$84,500
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 - Updated finishes and systems serve three separate residential units in a brick building.
Where is this triplex located?
The property is located at 471 W KING STREET York, PA.
What is the asking price?
The asking price for this property is $284,000.
What are key features of this property?
This property features: Three separate residential units in a single brick building; Full interior renovation with updated finishes and systems; Built in 1910
