Two-Unit Residential Income
For Sale
$275,000
624 East Middle Street, Hanover, PA 17331
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 Market346
Property Features for 624 East Middle Street
General Information
Standard status
Active
Size
1,776 SF
Property subtype
Multi-Family / Fee Simple
Additional Details
Multifamily Units
2
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
Changed: Jul 21
Last Checked: Aug 1 at 12:29PM
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)
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 authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,309
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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)
