Renovated Two-Unit
New
For Sale
$549,900
78 PARKVIEW DRIVE, Elizabethtown, PA 17022
Flexible duplex with separate lower-level living, outdoor areas, and a three-car garage.
Property Size3,104 SF
Price / SF$177.16
Days on Market5
Property Features for 78 PARKVIEW DRIVE
General Information
Standard status
Active
Size
3,104 SF
Total Parking Spaces
3
Property subtype
Duplex
Units
Unit Mix
1 x 4BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
front porch
rear deck
patio
Building Details
Year Built
1977
Year Renovated
2022
Buildings
1
Listing Agency:
Coldwell Banker Realty
(717) 735-8400
Listed By:
James Englert Jr · License #RS286375
(717) 278-2716
Source:
Cummingsrealtors
Added: Sep 8
Changed: Sep 12
Last Checked: Sep 12 at 7:22AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Renovated in 2022, this two-unit property provides 3,104 square feet of adaptable residential space. The main level offers one-story living with 4 bedrooms and 2 full baths. A daylight lower level functions as a separate apartment or in-law suite, with its own full kitchen, laundry area, 1 bedroom, and 1 full bath.
Outdoor features include a front porch, rear deck, and patio, while the three-car garage adds substantial covered parking and storage. The property was originally built in 1977 and sits on a cul-de-sac, offering a residential setting for its dual-living configuration.
Outdoor features include a front porch, rear deck, and patio, while the three-car garage adds substantial covered parking and storage. The property was originally built in 1977 and sits on a cul-de-sac, offering a residential setting for its dual-living configuration.
Key Highlights
- Two‑unit property with 3,104 square feet
- Renovated down to the studs in 2022
- Main level includes 4 bedrooms and 2 full baths
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
$34,671
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
6.30%
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%
$693,420
$693.4K
Cap Rate 7%
$495,300
$495.3K
Cap Rate 9%
$385,233
$385.2K
Market Conditions
NOI Build-Up for 3,104 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
$50.3K $16.20/SF
− Vacancy
−$754 −$0.24/SF
EGI
$49.5K $15.96/SF
− OpEx
−$14.9K −$4.79/SF
NOI
$34.7K $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%
$693,420
Cap Rate 7%
$495,300
Cap Rate 9%
$385,233
Alternative Uses
Best Use
Multifamily LT 5
$495.3K
$433.4K – $577.9K
NOI $34,671 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$436.8K
$382.2K – $509.6K
NOI $30,576 @ 7.0% cap · market cap 5.56%
Theoretical Best
Office A
$1.04M
$910.2K – $1.21M
NOI $72,812 @ 7.0% cap · market cap 13.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 17022, PA
31,163
Population
12,950
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
93%
High-School Grad
55.0 sq mi
ZIP Area
567
Density / Sq Mi
$79,075
Median Household Income
$42,844
Median Earnings
$1,381
Median Rent
$272,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Flexible duplex with separate lower-level living, outdoor areas, and a three-car garage.
Where is this duplex located?
The property is located at 78 PARKVIEW DRIVE Elizabethtown, PA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Two‑unit property with 3,104 square feet; Renovated down to the studs in 2022; Main level includes 4 bedrooms and 2 full baths
