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About the Listing REMAXEV1 - 3245896,3276988
Welcome to this charming 1900-built Colonial-style duplex located in Lancaster City. This two-unit multi-family property offers approximately 2,048 square feet of living space with a total of 4 bedrooms and 2 bathrooms across both units. Recently passing the Lancaster City lead-based paint inspection, this property provides added peace of mind and helps meet important local compliance standards. Whether you’re looking to expand your investment portfolio or begin your journey as a landlord, this property presents a great opportunity. Gross Monthly Rent: $850 (1BR) + $1,150 (3BR) = $2,000 Gross Annual Rent: $24,000 Owner Pays: Water, sewer, trash (W/S/T) — a common setup that keeps tenants happy but adds to owner expenses (estimate $200–400/month depending on usage). Gross Rent Multiplier (GRM): 11.04 ($265k / $24k) — reasonable for a stabilized older duplex in the area. Taxes: $4,996/year (2022 assessment; recent figures may be similar or slightly higher). Cap Rate Estimate (rough, before other expenses): Around 6–8% gross, depending on maintenance, insurance, vacancy, and management. Long-term tenants are a big plus for stability.
Listing Highlights
Status
Active
Days on Site
1
Property Type
Multi-Family
MLS ®
PALA2091636
Year Built
1900
Total Square Footage
2,048
Lot/Acreage
0.04
Interior Details
- Bedrooms: 4
- Bathrooms: 0 Full
- Appliances: Oven/Range - Electric, Oven/Range - Gas
- Air Cond:
- Heating: Hot Water,Radiator
- Fireplaces:
- Floor: Carpet,Vinyl,Tile/Brick
- Above Ground Sq Ft: 2048
- Below Ground Sq Ft: 0
- Basement: Rear Entrance
- Other: Kitchen - Eat-In
- Water: Public
Exterior Details
- Lot Description: Front Yard,Level,Rear Yard,Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Lot Dimensions: 0.00 x 0.00
- Zoning: RESIDENTIAL
- Roof: Rubber
- Others: Sidewalks,Street Lights
- Sewer: Public Sewer
- Parking Features: On Street
Financial Details
- Tax Amount: $4,996
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2022
Payment Calculator
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Questions About..
31 N Broad St Lancaster, PA 17602
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