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Palmyra Triplex: Investment Opportunity

521 East Main Street Palmyra, PA 17078

521 East Main Street, Palmyra, PA, 17078
$440,000
For Sale
$440,000

Well-maintained triplex in Palmyra with strong rental potential.

Property Size2,922 SF
Price / SF$150.58
Days on Market142

Property Features for 521 East Main Street

General Information

Standard status
Active
Size
2,922 SF
Property subtype
Multi-Family / Fee Simple

Building Details

Year Built
1930
Listing Agency Iron Valley Real Estate
Listed by Amanda Krall · License #RS329101
Source Compass
Added: Feb 26 Checked: Jul 17 at 5:29 am

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 Iron Valley Real Estate


Investment Insights

Based on property information with market context.

This well-maintained triplex presents an excellent investment opportunity in Palmyra, situated within a highly desirable school district. The property comprises three spacious units, each with separate utilities, offering strong rental potential. Unit 523 E Main St features two floors of living space, including 2 bedrooms and 1 full bath on the second level. The main level consists of a living room, dining room, kitchen, half bath, and laundry area, enhanced by luxury vinyl plank flooring throughout the main level and carpet upstairs. This unit has two-zone gas hot water heat. Unit 521 A, located on the main level, is a one-bedroom unit with a living room, kitchen, full bath, and in-unit laundry. It is equipped with gas hot water heat. Unit 521 B, an upper multi-level unit, offers 3 bedrooms and 1 full bath. The second level includes a living room, kitchen, one bedroom, bath, and laundry, while the third floor provides two additional bedrooms. This unit features gas heat and central air, with the furnace and a 100-amp subpanel located on the third level. The shared unfinished basement houses gas furnaces for unit 523 and unit 521 A, water heaters for all three units, and three separate 100-amp electric panels. Additional amenities include off-street parking for all units in the rear and an owner-maintained yard. The property size is 2922 square feet. This triplex is located in Palmyra Boro and is within the Palmyra Area School District. It is suitable for both investors and owner-occupants.

Key Highlights

  • Excellent investment opportunity with strong rental potential due to three separate units.
  • Located in a highly desirable Palmyra school district.
  • Separate utilities for each unit (gas and electric), simplifying tenant management.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $40.3k $13.80
− Vacancy −$3.0k −$1.04
EGI $37.3k $12.77
− OpEx −$11.2k −$3.83
NOI $26.1k $8.94
2,922 SF · lease $13.80/SF/yr · vacancy 7.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$373.0K
$326.4K – $435.2K (±1% cap)
NOI $26,110 @ 7.0% cap · market cap 5.93%
Second Best
Apartment 5plus
$346.6K
$303.3K – $404.4K (±1% cap)
NOI $24,265 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$685.9K
$600.1K – $800.2K (±1% cap)
NOI $48,010 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Triplexes

Suggested Use

Real Estate Agency Parking Lot & Garage Grocery & Convenience Store (Bike/Boat/Book/etc) Store Daycare Center Computer & Electronic Repair Furniture & Home Goods Electrical Service Carpet & Flooring Store Home Appliance Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

What type of property is this?
Triplex - Well-maintained triplex in Palmyra with strong rental potential.
Where is this triplex located?
The property is located at 521 East Main Street Palmyra, PA.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Excellent investment opportunity with strong rental potential due to three separate units.; Located in a highly desirable Palmyra school district.; Separate utilities for each unit (gas and electric), simplifying tenant management.
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