Building Details

Buildings 1

Listing Agency: Iron Valley Real Estate c***@ironvalleyrealestate.com Show Phone

Listed By: Stephen R Brinton · License #RS305982 Show Phone

Source: Exprealty

Added: Sep 25 Changed: Oct 10 Last Checked: Oct 16 at 10:02AM

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Investment Insights

Based on property information with market context.

This duplex contains two renovated units. The front residence has 2 bedrooms and 1 full bath; the rear residence has 2 bedrooms and 2 full baths, including an ensuite. Replacement windows, a gas boiler, and a hot water heater serve the property. An oversized shop and garage provide additional work or storage space, subject to applicable approvals and permitted uses.

The residences have separate electric, water, and gas meters. Tenants pay those utilities, while trash is excluded. A wraparound porch, level yard, and plentiful parking round out the site.

Key Highlights

• Two renovated units: front residence has 2 bedrooms and 1 full bath; rear residence has 2 bedrooms and 2 full baths
• Oversized shop and garage offer additional work or storage space
• Separate electric, water, and gas meters for each unit; tenants pay utilities except trash

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,409

Cap Rate

6.40%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$408,180 $408.2K

Cap Rate 7%

$291,557 $291.6K

Cap Rate 9%

$226,767 $226.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,284 SF

Gross rent

$31.5K $13.80/SF

− Vacancy

−$2.4K −$1.04/SF

EGI

$29.2K $12.77/SF

− OpEx

−$8.7K −$3.83/SF

NOI

$20.4K $8.94/SF

Area

Lebanon County, PA

Vacancy

7.50%

Lease Rate

$13.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$408,180

Cap Rate 7%

$291,557

Cap Rate 9%

$226,767

Alternative Uses

Best Use

Multifamily LT 5

$291.6K

$255.1K – $340.2K (±1% cap)

NOI $20,409 @ 7.0% cap · market cap 6.40%

Second Best

Apartment 5plus

$271.0K

$237.1K – $316.1K (±1% cap)

NOI $18,967 @ 7.0% cap · market cap 5.95%

Theoretical Best

Office A

$536.1K

$469.1K – $625.5K (±1% cap)

NOI $37,527 @ 7.0% cap · market cap 11.76%

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

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Building Supply Dental Office HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

97

Businesses Nearby

Explore this area Business Placement

Demographics for 17067, PA

15,677

Population

6,155

Households

2.5

Avg Household Size

43

Median Age

17%

College-Educated

83%

High-School Grad

47.1 sq mi

ZIP Area

333

Density / Sq Mi

$78,125

Median Household Income

$47,624

Median Earnings

$1,183

Median Rent

$229,500

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 - Two renovated residences have separate utility meters, with a wraparound porch and ample on-site parking.

Where is this duplex located?

The property is located at 537 W Main Ave Myerstown, PA.

What is the asking price?

The asking price for this property is $319,000.

What are key features of this property?

This property features: Two renovated units: front residence has 2 bedrooms and 1 full bath; rear residence has 2 bedrooms and 2 full baths; Oversized shop and garage offer additional work or storage space; Separate electric, water, and gas meters for each unit; tenants pay utilities except trash