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Property profile & analytics
OFF-MARKET
Estimated value
$970,000
Investment properties
316 Rhodes Pl, New Castle, PA 16101-3692
Entity Owned
Absentee Owner
Property ID
US73-3328430
Property summary
AI-generated overview
This exceptional New Castle, Pennsylvania mixed-use property offers a compelling investment opportunity. Situated on a 2.51-acre lot, the property comprises two distinct facilities totaling 11,300 square feet. First, an 8,800 square foot, impeccably restored mansion currently operates as a four-unit multi-family residence, blending historic charm with modern amenities. Secondly, a 72-bed former personal care facility presents a significant value-add opportunity, available at a price substantially below reconstruction cost. The property benefits from ample parking, beautiful grounds, and a prime location in New Castle, zoned R2. Built in 1982, this property is priced at $1,200,000, or $176.99 per square foot. This unique offering presents a myriad of potential uses and significant financial upside for the discerning investor. The address is 316-318 Rhodes Pl, New Castle, PA 16101. This is a distressed sale representing an incredible financial opportunity.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1894
Construction
BRICK
Total area
8,830 SF
Lot
2.51 ac (109,336 SF)
Zoning code
R-2
APN
02-197100
UPID
US73-3328430
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$883k
Blend (final)
Blend
$970k
Owner & transaction history
Lap Invest LLC
Lap Invest LLC
since 2026
Last sale
$950,000
6 recorded transactions
Zoning & alternative use
R-2 · New Castle, PA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$815,000
+61.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New Castle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New Castle submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$815,000
Change: +62% · Conversion: Difficult
Blend value · Realmo final
$970k
Range $873k – $1.07M · ±10% · vs last sale $950k (Feb 19 2026)
Last sale anchor
$950k
Feb 19 2026
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$110 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$51,575
Tax year 2023
Assessed value
$1,384,100
Assessed 2024
Previous assessed
$1,384,100
+0.0% YoY
Effective rate
3.73%
On assessed value
Assessed land
$65,600
Assessed improvement
$1,318,500
Land market value
$65,600
Improvement market value
$1,318,500
Total market value
$1,384,100
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1894
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Rooms
16
Bathrooms
4
Total area
8,830 SF
Lot
2.51 ac (109,336 SF)
Zoning code
R-2
APN
02-197100
UPID
US73-3328430
Jurisdiction
LAWRENCE
Zoning & alternative use
R-2 · New Castle, PA
Zoning R-2 · permitted uses
R-2 · New Castle, PA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New Castle. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$815,000
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1894
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Rooms
16
Bathrooms
4
Lot
2.51 ac
Current owner
From public records · entity-resolved
Lap Invest LLC
Entity
Mailing address
106 EN ST, NEW CASTLE, PA 16101-3736
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 19, 2026
$950,000
Lap Invest LLC
Flc Rhodes Estate LLC
Deed
$700,000 · Flc Rhodes Estate LLC
Nov 12, 2025
—
Flc Rhodes Estates LLC
—
Deed
related
$500,000 · Opportunity Acquisitions INC
May 6, 2025
$3,048,772
Flc Rhodes Estates LLC
Rhodes Estate Limited Partnership
Deed
related
—
Feb 12, 2025
—
Flc Rhodes Estates LLC
—
Deed
related
$825,000 · Opportunity Acquisitions INC
Nov 19, 2024
—
Flc Rhodes Estates LLC
Rhodes Estates Limited Partnership
Deed
related
$600,000 · Rb Investors LLC
—
—
Robert J Bruce
—
Loan Modification
related
$2,498,926 · First National Bank Pa
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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