Three-Unit Multifamily
For Sale
$400,000
816 N DUKE STREET, Lancaster, PA 17602
Well-maintained residential income property with three separate units in Lancaster City’s Ross neighborhood.
Property Size2,282 SF
Price / SF$175.28
Days on Market48
Property Features for 816 N DUKE STREET
General Information
Standard status
Active
Size
2,282 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Building Details
Year Built
1890
Listing Agency:
Top Shelf Real Estate
(717) 947-3900
Listed By:
Calvin L. Yoder · License #RM426273
(717) 413-0744
Source:
Cummingsrealtors
Added: Sep 16
Changed: Nov 1
Last Checked: Nov 1 at 5:28AM
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 Top Shelf Real Estate
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Investment Insights
Based on property information with market context.
This 2,282-square-foot multifamily property contains three separate residential units and was built in 1890. The building is described as being in very good overall condition, offering an established physical asset without the extensive renovation typically associated with some city multifamily properties.
The property is located on North Duke Street in Lancaster City’s Ross neighborhood, with access to downtown Lancaster, major routes, shopping, dining, and local amenities. Its three-unit configuration provides a straightforward residential income property format within an established city neighborhood.
The property is located on North Duke Street in Lancaster City’s Ross neighborhood, with access to downtown Lancaster, major routes, shopping, dining, and local amenities. Its three-unit configuration provides a straightforward residential income property format within an established city neighborhood.
Key Highlights
- Three separate residential units
- 2,282‑square‑foot multifamily property
- Built in 1890
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,490
Cap Rate
6.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,800
$509.8K
Cap Rate 7%
$364,143
$364.1K
Cap Rate 9%
$283,222
$283.2K
Market Conditions
NOI Build-Up for 2,282 SF
Gross rent
$37.0K $16.20/SF
− Vacancy
−$555 −$0.24/SF
EGI
$36.4K $15.96/SF
− OpEx
−$10.9K −$4.79/SF
NOI
$25.5K $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 Rate 5%
$509,800
Cap Rate 7%
$364,143
Cap Rate 9%
$283,222
Alternative Uses
Best Use
Multifamily LT 5
$364.1K
$318.6K – $424.8K
NOI $25,490 @ 7.0% cap · market cap 6.37%
Second Best
Apartment 5plus
$321.1K
$281.0K – $374.7K
NOI $22,479 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$764.7K
$669.1K – $892.2K
NOI $53,530 @ 7.0% cap · market cap 13.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,782
Businesses Nearby
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Business Placement
Demographics for 17602, PA
52,665
Population
19,472
Households
2.7
Avg Household Size
37
Median Age
28%
College-Educated
83%
High-School Grad
24.6 sq mi
ZIP Area
2,141
Density / Sq Mi
$71,752
Median Household Income
$38,469
Median Earnings
$1,272
Median Rent
$250,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Well-maintained residential income property with three separate units in Lancaster City’s Ross neighborhood.
Where is this triplex located?
The property is located at 816 N DUKE STREET Lancaster, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Three separate residential units; 2,282‑square‑foot multifamily property; Built in 1890
