Brick Duplex With Updated
For Sale
$310,000
Pending
557 W Grant St, Lancaster, PA 17602
Fully occupied rental property with two-bedroom, two-bath residences and updated windows throughout.
Property Size1,968 SF
Days on Market282
Property Features for 557 W Grant St
General Information
Standard status
Pending
Size
1,968 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,589
Building Details
Construction
brick
Listing Agency:
Beiler-Campbell Realtors-Quarryville
(717) 629-3722
Listed By:
Gideon Alphie Stoltzfus · License #rs350331
(717) 629-3722
Source:
Exprealty
Added: Nov 21, 2025
Changed: Aug 30
Last Checked: Aug 30 at 12:42PM
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 Beiler-Campbell Realtors-Quarryville
Investment Insights
Based on property information with market context.
This brick duplex contains 1,968 square feet and is configured as two separate two-bedroom, two-bath units. Updated windows are installed throughout the building, supporting the property's low-maintenance physical profile.
Both residences are occupied by long-term renters. The property is located at 557 W Grant St in Lancaster, near shopping, Lancaster County attractions, and major routes.
Both residences are occupied by long-term renters. The property is located at 557 W Grant St in Lancaster, near shopping, Lancaster County attractions, and major routes.
Key Highlights
- Two‑unit brick apartment building totaling 1,968 square feet
- Each unit offers 2 bedrooms and 2 bathrooms
- Updated windows throughout the building
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
$21,982
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
7.09%
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%
$439,640
$439.6K
Cap Rate 7%
$314,029
$314.0K
Cap Rate 9%
$244,244
$244.2K
Market Conditions
NOI Build-Up for 1,968 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
$31.9K $16.20/SF
− Vacancy
−$478 −$0.24/SF
EGI
$31.4K $15.96/SF
− OpEx
−$9.4K −$4.79/SF
NOI
$22.0K $11.17/SF
Area
Lancaster County, PA
Vacancy
1.50%
Lease Rate
$16.20 /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%
$439,640
Cap Rate 7%
$314,029
Cap Rate 9%
$244,244
Alternative Uses
Best Use
Multifamily LT 5
$314.0K
$274.8K – $366.4K
NOI $21,982 @ 7.0% cap · market cap 7.09%
Second Best
Apartment 5plus
$276.9K
$242.3K – $323.1K
NOI $19,386 @ 7.0% cap · market cap 6.25%
Theoretical Best
Office A
$659.5K
$577.1K – $769.4K
NOI $46,164 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,970
Businesses Nearby
Explore this area
Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
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 - Fully occupied rental property with two-bedroom, two-bath residences and updated windows throughout.
Where is this duplex located?
The property is located at 557 W Grant St Lancaster, PA.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Two‑unit brick apartment building totaling 1,968 square feet; Each unit offers 2 bedrooms and 2 bathrooms; Updated windows throughout the building
