Residential Income Property with
For Sale
$275,000
Pending
624 E Middle St, Hanover, PA 17331
Colonial-style residential income property with central heating, natural gas, and both off-street and on-street parking.
Property Size1,776 SF
Days on Market330
Property Features for 624 E Middle St
General Information
Standard status
Pending
Size
1,776 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
RESIDENTIAL
Taxes and HOA fees
Annual Taxes
$3,422
Amenities
Central, Natural Gas
Off Street, On Street
Colonial
Building Details
Building Size
1,776 SF
Year Built
1900
Listing Agency:
Sites Realty, Inc.
Listed By:
Bradley N Shafer · License #RS336366
(717) 870-3608
Source:
Evrealestate
Added: Nov 20, 2025
Changed: Oct 1
Last Checked: Oct 16 at 7:53AM
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 Sites Realty, Inc.
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Investment Insights
Based on property information with market context.
This residential income property offers 1,776 square feet in a Colonial-style building constructed in 1900. Interior features include central heating and natural gas service, while parking is available both off the street and on the street.
The property is located at 624 E Middle St in Hanover, Pennsylvania, within York County and Hanover Borough.
The property is located at 624 E Middle St in Hanover, Pennsylvania, within York County and Hanover Borough.
Key Highlights
- 1,776‑square‑foot residential income property
- Colonial‑style building constructed in 1900
- Central heating and natural gas service
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,369
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$327,380
$327.4K
Cap Rate 7%
$233,843
$233.8K
Cap Rate 9%
$181,878
$181.9K
Market Conditions
NOI Build-Up for 1,776 SF
Gross rent
$31.3K $17.64/SF
− Vacancy
−$1.6K −$0.88/SF
EGI
$29.8K $16.76/SF
− OpEx
−$13.4K −$7.54/SF
NOI
$16.4K $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 Rate 5%
$327,380
Cap Rate 7%
$233,843
Cap Rate 9%
$181,878
Alternative Uses
Best Use
Apartment 5plus
$233.8K
$204.6K – $272.8K
NOI $16,369 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$514.2K
$449.9K – $599.9K
NOI $35,995 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
946
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Residential income property - Colonial-style residential income property with central heating, natural gas, and both off-street and on-street parking.
Where is this residential income property located?
The property is located at 624 E Middle St Hanover, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,776‑square‑foot residential income property; Colonial‑style building constructed in 1900; Central heating and natural gas service
