Two-Unit Duplex with
New
For Sale
$410,000
610 W CHESTNUT Street, Lancaster, PA 17603
Multi-Family, LANCASTER, PA
Property Size2,554 SF
Lot Size0.05 Acres
Price / SF$160.53
Days on Market4
Property Features for 610 W CHESTNUT Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Off Street
Subdivision
CHESTNUT HILL
Elementary school district
SCHOOL DISTRICT OF LANCASTER
Middle school district
SCHOOL DISTRICT OF LANCASTER
High school district
SCHOOL DISTRICT OF LANCASTER
Standard status
Active
Size
2,554 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
8370
Utilities
Heating system
Other (Heating)
Building Details
Year built
1900
Number of units
2
Building materials
Brick, Stick Built
Architectural style
Other
Listing Agency:
Puffer Morris Real Estate, Inc.
(717) 299-3433
Listed By:
Brian Altimare · License #RS338080
(717) 330-4695
Added: Sep 19
Last Checked: Sep 22 at 5:06PM
MLS# PALA2095650
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,554 square feet on a 0.05-acre lot and was built in 1900. The first-floor residence offers one bedroom, one bathroom, a large kitchen, dining room, and living room. The second-floor unit includes four bedrooms, one bathroom, a kitchen, family room, laundry area, and porch. Appliances are included, and the property has a basement along with brick and stick-built construction.
Located at 610 W Chestnut Street in Lancaster, Pennsylvania, the property includes two off-street parking spaces. Utilities are separately metered between the units, providing distinct utility arrangements for each residence.
Located at 610 W Chestnut Street in Lancaster, Pennsylvania, the property includes two off-street parking spaces. Utilities are separately metered between the units, providing distinct utility arrangements for each residence.
Key Highlights
- Two‑unit duplex at 610 W Chestnut Street, Lancaster, PA 17603
- 2,554 square feet on a 0.05‑acre lot
- First‑floor unit with 1BD, 1BA, kitchen, dining room, and living room
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
$28,528
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
6.96%
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%
$570,560
$570.6K
Cap Rate 7%
$407,543
$407.5K
Cap Rate 9%
$316,978
$317.0K
Market Conditions
NOI Build-Up for 2,554 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
$41.4K $16.20/SF
− Vacancy
−$621 −$0.24/SF
EGI
$40.8K $15.96/SF
− OpEx
−$12.2K −$4.79/SF
NOI
$28.5K $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%
$570,560
Cap Rate 7%
$407,543
Cap Rate 9%
$316,978
Alternative Uses
Best Use
Multifamily LT 5
$407.5K
$356.6K – $475.5K
NOI $28,528 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$359.4K
$314.5K – $419.3K
NOI $25,158 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$855.9K
$748.9K – $998.5K
NOI $59,910 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
3,360
Businesses Nearby
Explore this area
Business Placement
Demographics for 17603, PA
66,739
Population
28,142
Households
2.4
Avg Household Size
37
Median Age
37%
College-Educated
90%
High-School Grad
30.0 sq mi
ZIP Area
2,225
Density / Sq Mi
$77,156
Median Household Income
$40,043
Median Earnings
$1,265
Median Rent
$244,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Brick duplex with separate utilities, included appliances, and two off-street parking spaces.
Where is this duplex located?
The property is located at 610 W CHESTNUT Street Lancaster, PA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two‑unit duplex at 610 W Chestnut Street, Lancaster, PA 17603; 2,554 square feet on a 0.05‑acre lot; First‑floor unit with 1BD, 1BA, kitchen, dining room, and living room
