Three-Acre Duplex
For Sale
$545,000
4987-4989 E BERLIN ROAD, Thomasville, PA 17364
Two independent residences offer flexible multigenerational living, private space, garages, and shared outdoor areas.
Property Size6,480 SF
Price / SF$84.10
Days on Market18
Property Features for 4987-4989 E BERLIN ROAD
General Information
Standard status
Active
Size
6,480 SF
Property subtype
Duplex
Building Details
Year Built
1980
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 757-7811
Listed By:
Polly Beckner Lewis · License #RS160745A
(717) 880-0928
Source:
Cummingsrealtors
Added: Aug 27
Changed: Sep 11
Last Checked: Sep 12 at 5:42AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This duplex property comprises two separate residences on approximately 3 acres, providing independent living areas within one shared setting. Both homes feature open-concept interiors, cathedral ceilings, large windows, updated lighting, luxury vinyl flooring, spacious kitchens with appliances, multiple full baths, and finished gathering areas. A covered front porch and shared brick patio add outdoor space, while the residences include one-car and two-car garages. The left residence offers three bedrooms, three full baths, a finished lower level, a bonus room, and a laundry room with built-in cabinetry. The right residence includes approximately 3,138 square feet, three bedrooms with potential for a fourth, three full baths, an attached two-car garage, and a month-to-month tenant arrangement. The property was built in 1980 and is located on E Berlin Road in Thomasville, with access to Hanover, Gettysburg, Mechanicsburg, and Carlisle.
Key Highlights
- Approximately 3 acres with two separate residences
- Two duplex residences with three bedrooms and three full baths each
- Right residence offers approximately 3,138 square feet and is rented month‑to‑month
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
$48,501
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
8.90%
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%
$970,020
$970.0K
Cap Rate 7%
$692,871
$692.9K
Cap Rate 9%
$538,900
$538.9K
Market Conditions
NOI Build-Up for 6,480 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
$95.6K $14.76/SF
− Vacancy
−$7.5K −$1.15/SF
EGI
$88.2K $13.61/SF
− OpEx
−$39.7K −$6.12/SF
NOI
$48.5K $7.48/SF
Area
Luzerne County, PA
Vacancy
7.80%
Lease Rate
$14.76 /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%
$970,020
Cap Rate 7%
$692,871
Cap Rate 9%
$538,900
Alternative Uses
Best Use
Multifamily LT 5
$747.1K
$653.7K – $871.6K
NOI $52,296 @ 7.0% cap · market cap 9.60%
Second Best
Apartment 5plus
$692.9K
$606.3K – $808.4K
NOI $48,501 @ 7.0% cap · market cap 8.90%
Theoretical Best
Office A
$2.05M
$1.80M – $2.40M
NOI $143,700 @ 7.0% cap · market cap 26.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
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Business Placement
Demographics for 17364, PA
4,075
Population
1,672
Households
2.4
Avg Household Size
44
Median Age
12%
College-Educated
92%
High-School Grad
17.4 sq mi
ZIP Area
234
Density / Sq Mi
$71,799
Median Household Income
$45,965
Median Earnings
$913
Median Rent
$204,400
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?
Duplex - Two independent residences offer flexible multigenerational living, private space, garages, and shared outdoor areas.
Where is this duplex located?
The property is located at 4987-4989 E BERLIN ROAD Thomasville, PA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Approximately 3 acres with two separate residences; Two duplex residences with three bedrooms and three full baths each; Right residence offers approximately 3,138 square feet and is rented month‑to‑month
