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

Investment properties

Property subtype

Live-work space

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%

  $1,940,820

  6.5%

  $1,791,520

  7%

  $1,663,560

• Comparable approach

  Method

  Valuation

  Relative Method

  $842,477

  Geo Method

  $842,477

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,608,740

  Retail / Commercial

  $1,821,170

  Hospitality / Lodging

  $1,284,240

  Office

  $1,756,770

  Institutional / Educational

  $1,854,190

  Residential Income

  $2,169,400

  Multifamily

  $2,730,200

  Automotive / Energy

  $1,589,300

  Parking / Income-Based Land

  $571,321

  Restaurant / Food Service

  $882,380

  Healthcare / Senior Housing

  $1,860,910

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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