Duplex with Private Outdoor
For Sale
$309,000
567 ROCKLAND STREET, Lancaster, PA 17602
Two-bedroom units include separate yard areas, with coin-operated laundry and additional outdoor improvements.
Property Size1,680 SF
Price / SF$183.93
Days on Market10
Property Features for 567 ROCKLAND STREET
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR
Multifamily Units
2
Amenities
Trek decking on balcony
motion-activated lighting
coin-operated washer and dryer in basement
storage shed
gazebo
separate yard areas
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Realty ONE Group Unlimited
(717) 569-1700
Listed By:
Sandy Bonano
(717) 405-9439
Source:
Cummingsrealtors
Added: Sep 8
Changed: Sep 17
Last Checked: Sep 16 at 6:46PM
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 Realty ONE Group Unlimited
Investment Insights
Based on property information with market context.
Located at 567 Rockland Street in Lancaster, this two-unit property offers a two-bedroom layout in each residence. Separate outdoor areas accompany the units, while the basement contains coin-operated laundry equipment. The property also includes an additional lot, storage shed, gazebo, and balcony with Trek decking.
A new roof was installed in 2024, and motion-activated lighting serves the entrances. The first-floor residence is occupied through a Section 8 rental arrangement, with the tenant having maintained a 30-year tenancy. Built in 1900, the duplex combines established occupancy with multiple exterior and building improvements.
A new roof was installed in 2024, and motion-activated lighting serves the entrances. The first-floor residence is occupied through a Section 8 rental arrangement, with the tenant having maintained a 30-year tenancy. Built in 1900, the duplex combines established occupancy with multiple exterior and building improvements.
Key Highlights
- Two two‑bedroom units with separate outdoor areas
- New roof installed in 2024
- First‑floor unit occupied through a Section 8 rental arrangement
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
$18,765
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
6.07%
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%
$375,300
$375.3K
Cap Rate 7%
$268,071
$268.1K
Cap Rate 9%
$208,500
$208.5K
Market Conditions
NOI Build-Up for 1,680 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
$27.2K $16.20/SF
− Vacancy
−$408 −$0.24/SF
EGI
$26.8K $15.96/SF
− OpEx
−$8.0K −$4.79/SF
NOI
$18.8K $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%
$375,300
Cap Rate 7%
$268,071
Cap Rate 9%
$208,500
Alternative Uses
Best Use
Multifamily LT 5
$268.1K
$234.6K – $312.8K
NOI $18,765 @ 7.0% cap · market cap 6.07%
Second Best
Apartment 5plus
$236.4K
$206.9K – $275.8K
NOI $16,549 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$563.0K
$492.6K – $656.8K
NOI $39,408 @ 7.0% cap · market cap 12.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,201
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-bedroom units include separate yard areas, with coin-operated laundry and additional outdoor improvements.
Where is this duplex located?
The property is located at 567 ROCKLAND STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $309,000.
What are key features of this property?
This property features: Two two‑bedroom units with separate outdoor areas; New roof installed in 2024; First‑floor unit occupied through a Section 8 rental arrangement
