Listed by John Zunner of RE/MAX Evolved
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.

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