Ranch Duplex With Attached
For Sale
$311,900
Pending
57 WILMAR AVE, Hanover, PA 17331
Two-unit residential property with central air, forced-air heat, and an attached garage.
Property Size2,576 SF
Days on Market41
Property Features for 57 WILMAR AVE
General Information
Standard status
Pending
Size
2,576 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R-8 RESIDENTIAL
Amenities
Central Air, Electric
Natural Gas, Forced Air
Garage Door Opener, Garage, Attached
Ranch/Rambler
Building Details
Building Size
2,576 SF
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 680-2353
Listed By:
TIM FORBES · License #RS361212
(717) 680-2353
Source:
Evrealestate
Added: Jul 22
Changed: Aug 30
Last Checked: Aug 30 at 1:34PM
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.
This duplex is configured as a ranch/rambler-style residential property with an attached garage and garage door opener. Interior systems include central air with electric service and forced-air heating supplied by natural gas.
The property is located in Hanover, Pennsylvania, within York County, and carries R-8 Residential zoning. The recorded property size is 2,253 square feet.
The property is located in Hanover, Pennsylvania, within York County, and carries R-8 Residential zoning. The recorded property size is 2,253 square feet.
Key Highlights
- Duplex with ranch/rambler‑style design
- 2,253‑square‑foot property
- Attached garage with garage door opener
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
$22,355
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
7.17%
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%
$447,100
$447.1K
Cap Rate 7%
$319,357
$319.4K
Cap Rate 9%
$248,389
$248.4K
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
$33.8K $15.00/SF
− Vacancy
−$1.9K −$0.83/SF
EGI
$31.9K $14.17/SF
− OpEx
−$9.6K −$4.25/SF
NOI
$22.4K $9.92/SF
Area
York County, PA
Vacancy
5.50%
Lease Rate
$15.00 /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%
$447,100
Cap Rate 7%
$319,357
Cap Rate 9%
$248,389
Alternative Uses
Best Use
Multifamily LT 5
$319.4K
$279.4K – $372.6K
NOI $22,355 @ 7.0% cap · market cap 7.17%
Second Best
Apartment 5plus
$296.7K
$259.6K – $346.1K
NOI $20,766 @ 7.0% cap · market cap 6.66%
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
Current Use
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
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-unit residential property with central air, forced-air heat, and an attached garage.
Where is this duplex located?
The property is located at 57 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: Duplex with ranch/rambler‑style design; 2,253‑square‑foot property; Attached garage with garage door opener
