To-Be-Built Duplex Income
For Sale
$311,900
Pending
55 Wilmar Ave, Hanover, PA 17331
Planned left-side residence with flexible living areas, private outdoor space, and a first-floor primary suite.
Property Size2,253 SF
Days on Market60
Property Features for 55 Wilmar Ave
General Information
Standard status
Pending
Size
2,253 SF
Total Parking Spaces
1
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/2.5BA
Multifamily Units
1
Amenities
exposed beams
cathedral ceilings
fireplace
deck
patio
pantry
island
first-floor laundry room
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 680-2353
Listed By:
TIM FORBES · License #RS361212
(717) 680-2353
Source:
Exprealty
Added: Jul 3
Changed: Aug 31
Last Checked: Aug 31 at 9:35AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
Planned as the left-side unit of a duplex, this 2,253-square-foot residence includes three bedrooms, two full bathrooms, and one half bathroom. The main level features an entry foyer, open kitchen, dining, and family room arrangement, along with a pantry, laundry room, primary bedroom, primary bathroom access, and walk-in closet. Cathedral ceilings, exposed beams, and a maintenance-free fireplace define the family room.
The lower level adds two bedrooms, a full bathroom, and a finished recreation room with direct access to an outside patio. A deck extends from the family room, while the home also includes a one-car garage. The property is identified at 55 Wilmar Ave. in Hanover, Pennsylvania.
The lower level adds two bedrooms, a full bathroom, and a finished recreation room with direct access to an outside patio. A deck extends from the family room, while the home also includes a one-car garage. The property is identified at 55 Wilmar Ave. in Hanover, Pennsylvania.
Key Highlights
- 2,253 finished square feet of planned living space
- Three bedrooms, 2.5 bathrooms, and a one‑car garage
- First‑floor primary bedroom with walk‑in closet and primary bath 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
$20,766
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
6.66%
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%
$415,320
$415.3K
Cap Rate 7%
$296,657
$296.7K
Cap Rate 9%
$230,733
$230.7K
Market Conditions
NOI Build-Up for 2,253 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
$39.7K $17.64/SF
− Vacancy
−$2.0K −$0.88/SF
EGI
$37.8K $16.76/SF
− OpEx
−$17.0K −$7.54/SF
NOI
$20.8K $9.22/SF
Area
York County, PA
Vacancy
5.00%
Lease Rate
$17.64 /SF/Yr
Expense Ratio
45.00%
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%
$415,320
Cap Rate 7%
$296,657
Cap Rate 9%
$230,733
Alternative Uses
Best Use
Apartment 5plus
$296.7K
$259.6K – $346.1K
NOI $20,766 @ 7.0% cap · market cap 6.66%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$652.3K
$570.8K – $761.1K
NOI $45,663 @ 7.0% cap · market cap 14.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
334
Businesses Nearby
Explore this area
Business Placement
Demographics for 17331, PA
55,458
Population
23,528
Households
2.4
Avg Household Size
43
Median Age
22%
College-Educated
90%
High-School Grad
74.4 sq mi
ZIP Area
745
Density / Sq Mi
$76,661
Median Household Income
$45,168
Median Earnings
$1,127
Median Rent
$228,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Planned left-side residence with flexible living areas, private outdoor space, and a first-floor primary suite.
Where is this residential income property located?
The property is located at 55 Wilmar Ave Hanover, PA.
What is the asking price?
The asking price for this property is $311,900.
What are key features of this property?
This property features: 2,253 finished square feet of planned living space; Three bedrooms, 2.5 bathrooms, and a one‑car garage; First‑floor primary bedroom with walk‑in closet and primary bath access
