Two-Unit Residential Income
624 East Middle Street Hanover, PA 17331
624 East Middle Street, Hanover, PA, 17331
$275,000
For Sale
$275,000
Well-maintained two-unit property features two bedrooms per unit, separate utilities, and dedicated off-street parking.
Property Size1,776 SF
Price / SF$154.84
Days on Market335
Property Features for 624 East Middle Street
General Information
- Standard status
- Active
- Size
- 1,776 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1900
Listing agency
Sites Realty, Inc.
(717) 870-3608
Listed by
Bradley N Shafer · License #RS336366
(717) 870-3608
Source
Compass
Added: Aug 22, 2025 Updated: Jul 21 at 7:32AM Checked: Jul 22 at 7:24AM
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.
Investment Insights
Based on property information with market context.
This well-maintained two-unit residential income property offers two spacious bedrooms in each unit. Both units have separate utilities and dedicated off-street parking (one parking spot per unit). The property also includes an income-producing garage that can be rented for additional revenue or used for personal storage or parking.
Located in downtown Hanover within walking distance to shops, dining, and schools, the property is part of the Hanover Boro (15267) area and served by the Hanover Public School District.
The configuration is suited to tenants who prefer independent living setups, with parking directly assigned for each unit and a separate garage asset on site.
Located in downtown Hanover within walking distance to shops, dining, and schools, the property is part of the Hanover Boro (15267) area and served by the Hanover Public School District.
The configuration is suited to tenants who prefer independent living setups, with parking directly assigned for each unit and a separate garage asset on site.
Key Highlights
- Well‑maintained 2‑unit multi‑family property in downtown Hanover
- Each unit features 2 bedrooms and separate utilities
- Dedicated off‑street parking for both units (one spot per unit)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.6k | $15.00 |
| − Vacancy | −$1.5k | −$0.83 |
| EGI | $25.2k | $14.17 |
| − OpEx | −$7.6k | −$4.25 |
| NOI | $17.6k | $9.92 |
1,776 SF · lease $15.00/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$251.7K
$220.3K – $293.7K
NOI $17,622 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$233.8K
$204.6K – $272.8K
NOI $16,369 @ 7.0% cap · market cap 5.95%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Well-maintained two-unit property features two bedrooms per unit, separate utilities, and dedicated off-street parking.
Where is this duplex located?
The property is located at 624 East Middle Street 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: Well‑maintained 2‑unit multi‑family property in downtown Hanover; Each unit features 2 bedrooms and separate utilities; Dedicated off‑street parking for both units (one spot per unit)
