Building Details

Year Built 1883

Year Renovated 2025

Tenancy Multi

Listing Agency: Real of Pennsylvania p***@onereal.com Show Phone

Listed By: Richard A Keller · License #5000677 Show Phone

Source: Cummingsrealtors

Added: Oct 14 Changed: Oct 25 Last Checked: Oct 24 at 6:49PM

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Investment Insights

Based on property information with market context.

This 1,826-square-foot duplex contains two residential units, and both are leased. The property was remodeled in 2025 and dates to 1883.

Key Highlights

• Two residential units, both leased
• Remodeled in 2025
• 1,826 square feet

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$8,423

Cap Rate

3.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$168,460 $168.5K

Cap Rate 7%

$120,329 $120.3K

Cap Rate 9%

$93,589 $93.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,826 SF

Gross rent

$12.7K $6.96/SF

− Vacancy

−$676 −$0.37/SF

EGI

$12.0K $6.59/SF

− OpEx

−$3.6K −$1.98/SF

NOI

$8.4K $4.61/SF

Area

Adams County, PA

Vacancy

5.32%

Lease Rate

$6.96 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$168,460

Cap Rate 7%

$120,329

Cap Rate 9%

$93,589

Alternative Uses

Best Use

Multifamily LT 5

$120.3K

$105.3K – $140.4K (±1% cap)

NOI $8,423 @ 7.0% cap · market cap 3.06%

Second Best

Apartment 5plus

$110.5K

$96.7K – $128.9K (±1% cap)

NOI $7,736 @ 7.0% cap · market cap 2.81%

Theoretical Best

Specialty Retail

$336.3K

$294.3K – $392.4K (±1% cap)

NOI $23,542 @ 7.0% cap · market cap 8.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

2

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

261

Businesses Nearby

Explore this area Business Placement

Demographics for 17344, PA

3,676

Population

1,526

Households

2.4

Avg Household Size

39

Median Age

18%

College-Educated

94%

High-School Grad

0.7 sq mi

ZIP Area

5,251

Density / Sq Mi

$71,688

Median Household Income

$40,022

Median Earnings

$1,365

Median Rent

$203,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences are leased, providing established rental occupancy.

Where is this duplex located?

The property is located at 516 MAIN STREET McSherrystown, PA.

What is the asking price?

The asking price for this property is $275,000.

What are key features of this property?

This property features: Two residential units, both leased; Remodeled in 2025; 1,826 square feet