316 Rhodes PlNew Castle, PA 16101

Property Details for 316 Rhodes Pl

Year built

1894

Construction

BRICK

Lot size

2.51 AC

Property size (Sq ft)

8,830 SF

Zone code

R-2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

02-197100

APU

2197100

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $1,679,264

  6.5%

  $1,550,090

  7%

  $1,439,369

• Comparable approach

  Method

  Valuation

  Relative Method

  $825,958

  Geo Method

  $825,958

• Alternative Use

  Use

  Valuation

  Residential

  $1,922,112

  Hospitality

  $1,760,644

  Educational

  $1,464,835

  Medical

  $1,515,213

  Retail

  $2,278,632

Location Insight

City

New Castle

County

Lawrence

State

Pennsylvania

Latitude

41.0043

Longitude

-80.3388

CBSA code

35260

CBSA name

NEW CASTLE, PA MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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