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MLS: #PALA2091636, Listed By: John Zunner, RE/MAX Evolved, Source:Bright MLS

31 N Broad Street

LANCASTER, PA 17602
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Bed 4

Bed

Bath 0

Bath

SqFt2,048

Sqft

Acres0.04

Acre(Lot)

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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Detail Ic Property Details

Property Type : Residential Income

Price : $265,000

AD Id : 87851703

MLS Id : PALA2091636

Beds : 4

Lot Size : 0.04 Acre

Living Area Size : 2,048

Year Built : 1900

County : LANCASTER

Subdivision: None Available

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Feature Features

  • Bedroom Information

    Total beds: 4

    Room Information

    Rooms Total: 9 Has Basement: Yes
  • Flooring Information

    Carpet, Vinyl
  • Roofing Information

    Rubber
  • Interior Features

    Eat-in Kitchen Roof: Rubber Appliances: Electric Range, Electric Oven, Gas Range, Gas Oven, Electric Water Heater, Gas Water Heater
  • Heating & Cooling

    Has Heating: Yes Heating: Electric, Natural Gas, Hot Water, Radiant Cooling: None

  • Building Information

    Year Built: 1900 Building Area Total: 2048 Construction Materials: Brick Pool Features: None Private Pool: No View: Park/Greenbelt, City

  • Lot Information

    Lot Dimensions: 0.00 x 0.00 Lot Size Acres: 0.04 Lot Size Source: Assessor Lot Size Square Feet: 1742 Lot Description: Front Yard, Level, Back Yard

    Property Information

    Subdivision: NONE AVAILABLE Source Property Type: Residential Income Postal Code Plus 4: 3141 Property SubType: Duplex Property Age: 126

  • Listing Price Information

    Listing Price: $265000

  • Tax Information

    Parcel Number: 332-05532-0-0000 Tax Year: 2022 Annual Tax: $4996

  • Parking Information

    On Street

  • Utility Information

    Cable Available, Natural Gas Available, Phone Available, Sewer Available, Water Available, Electricity Available
  • Location Information

    Direction: Take King Street west out of downtown Lancaster. Turn left on to Broad Street. Property will be on the right WaterSource: Public
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
464 S Ann Street, Lancaster, PA, 17602 $309,900 5 -- 1,596 1,596 SqFt
537 E King Street, Lancaster, PA, 17602 $324,900 3 -- 2,868 2,868 SqFt
529 E King Street, Lancaster, PA, 17602 $374,900 3 -- 2,325 2,325 SqFt
205 E King Street, Lancaster, PA, 17602 $1,095,000 5 -- 3,049 3,049 SqFt
15 N Lime Street, Lancaster, PA, 17602 $675,000 1 -- 2,641 2,641 SqFt
352 E New Street, Lancaster, PA, 17602 $675,000 4 -- 4,392 4,392 SqFt
361 E Ross Street, Lancaster, PA, 17602 $350,000 3 -- --
145 E Chestnut Street, Lancaster, PA, 17602 $549,900 5 -- 3,800 3,800 SqFt
152 E Walnut Street, Lancaster, PA, 17602 $474,900 3 -- 3,900 3,900 SqFt
445 N Duke Street, Lancaster, PA, 17602 $450,000 -- -- 2,904 2,904 SqFt

The data relating to real estate for sale on this website appears in part through the BRIGHT Internet Data Exchange program, a voluntary cooperative exchange of property listing data between licensed real estate brokerage firms in which ByOwner participates, and is provided by BRIGHT through a licensing agreement. The information provided by this website is for the personal, non-commercial use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on this website may no longer be available because they are under contract, have closed or are no longer being offered for sale. Information Deemed Reliable But Not Guaranteed. Copyright © 2026 Bright MLS. All rights reserved.

ByOwner last updated this listing 07/15/2026 @ 15:23

MLS: PALA2091636 LISTED BY: John Zunner, RE/MAX Evolved 717-509-2880 SOURCE: Bright MLS

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