Brick Duplex with Separate
New
For Sale
$225,000
55 MIFFLIN STREET, Lebanon, PA 17046
Two occupied apartments offer distinct layouts, private storage areas, laundry hookups, and off-street parking.
Property Size2,202 SF
Price / SF$102.18
Days on Market5
Property Features for 55 MIFFLIN STREET
General Information
Standard status
Active
Size
2,202 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
in-unit washer & dryer hookups
basement storage
attic storage
off-street parking
Building Details
Year Built
1910
Buildings
1
Construction
brick
Tenancy
Multi
Listing Agency:
Howard Hanna Krall Real Estate
(717) 269-0389
Listed By:
Wendy Potts · License #RS343363
(717) 269-0389
Source:
Cummingsrealtors
Added: Aug 7
Changed: Aug 9
Last Checked: Aug 11 at 6:35AM
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 Howard Hanna Krall Real Estate
Investment Insights
Based on property information with market context.
This 2,202-square-foot brick duplex, built in 1910, contains two separately metered apartments. The first-floor unit has an updated one-bedroom configuration, in-unit washer and dryer hookups, and dedicated basement storage. Upstairs, the two-bedroom unit includes its own laundry hookups and access to a sizable attic area.
Both apartments are occupied under existing leases. The property also includes off-street parking and two new water heaters, while the brick exterior supports a durable, lower-maintenance building envelope. Located at 55 Mifflin Street in Lebanon, Pennsylvania, the asset combines independent utility metering with two distinct residential layouts.
Both apartments are occupied under existing leases. The property also includes off-street parking and two new water heaters, while the brick exterior supports a durable, lower-maintenance building envelope. Located at 55 Mifflin Street in Lebanon, Pennsylvania, the asset combines independent utility metering with two distinct residential layouts.
Key Highlights
- 2,202 SF brick duplex built in 1910
- First‑floor unit has 1 bedroom, updated layout, laundry hookups, and private basement storage
- Second‑floor apartment includes 2 bedrooms, laundry hookups, and attic access
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
$19,676
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
8.74%
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%
$393,520
$393.5K
Cap Rate 7%
$281,086
$281.1K
Cap Rate 9%
$218,622
$218.6K
Market Conditions
NOI Build-Up for 2,202 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
$30.4K $13.80/SF
− Vacancy
−$2.3K −$1.04/SF
EGI
$28.1K $12.77/SF
− OpEx
−$8.4K −$3.83/SF
NOI
$19.7K $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 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%
$393,520
Cap Rate 7%
$281,086
Cap Rate 9%
$218,622
Alternative Uses
Best Use
Multifamily LT 5
$281.1K
$246.0K – $327.9K
NOI $19,676 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$261.2K
$228.6K – $304.8K
NOI $18,286 @ 7.0% cap · market cap 8.13%
Theoretical Best
Office A
$516.9K
$452.3K – $603.0K
NOI $36,180 @ 7.0% cap · market cap 16.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Explore this area
Business Placement
Demographics for 17046, PA
31,272
Population
13,570
Households
2.3
Avg Household Size
39
Median Age
12%
College-Educated
84%
High-School Grad
38.9 sq mi
ZIP Area
804
Density / Sq Mi
$59,633
Median Household Income
$37,261
Median Earnings
$1,036
Median Rent
$180,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two occupied apartments offer distinct layouts, private storage areas, laundry hookups, and off-street parking.
Where is this duplex located?
The property is located at 55 MIFFLIN STREET Lebanon, PA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 2,202 SF brick duplex built in 1910; First‑floor unit has 1 bedroom, updated layout, laundry hookups, and private basement storage; Second‑floor apartment includes 2 bedrooms, laundry hookups, and attic access
