Building Details

Year Built 1900

Buildings 1

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

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

Source: Cummingsrealtors

Added: Sep 25 Changed: Oct 16 Last Checked: Oct 16 at 8:06AM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 2,284-SF duplex contains two renovated apartments. The front unit has two bedrooms and one full bath; the rear unit has two bedrooms and two full baths, including an ensuite. Improvements include replacement windows, a gas boiler, and a hot water heater. An oversized shop/garage adds substantial enclosed space, while a wraparound porch, level yard, and ample parking provide additional on-site features.

Each apartment has its own electric, water, and gas meters. Tenants pay those utilities, with trash excluded from tenant-paid utilities. The property is at 537 W Main St in Myerstown, Pennsylvania.

Key Highlights

• 2,284‑SF duplex with two renovated apartments
• Front unit: 2 bedrooms and 1 full bath; rear unit: 2 bedrooms and 2 full baths, including an ensuite
• Oversized shop/garage

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

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Grocery & Convenience Store Auto Parts Store Big Box & Wholesale Store Daycare Center Restaurant

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

17

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

Similar For Sale Nearby

See more

Two-Home Duplex Property

528 S RAILROAD STREET, Myerstown, PA 17067

$249,999

2,734 SF

View details

Duplex with Storage and Parking

152 W MAIN Avenue, Myerstown, PA 17067

$359,900

3,014 SF

View details

Fully Equipped Restaurant with Apartment

7646 LANCASTER AVENUE, Myerstown, PA 17067

$449,000

4,960 SF

View details

201,000 SF Industrial Facility

120 Fort Motel Dr, Myerstown, PA

Contact for pricing

201,323 SF

View details

Frequently Asked Questions

What type of property is this?

Duplex - Separate utility meters serve both renovated apartments, with tenants responsible for utilities other than trash.

Where is this duplex located?

The property is located at 537 W MAIN STREET 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: 2,284‑SF duplex with two renovated apartments; Front unit: 2 bedrooms and 1 full bath; rear unit: 2 bedrooms and 2 full baths, including an ensuite; Oversized shop/garage