Triplex with Detached
For Sale
$195,000
323 CRESCENT Street, Harrisburg, PA 17104
Multi-Family, HARRISBURG, PA
Property Size1,872 SF
Lot Size0.06 Acres
Price / SF$104.17
Days on Market146
Property Features for 323 CRESCENT Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
1
Parking features
Off Street, Garage - Detached, On Street
High school
HARRISBURG HIGH SCHOOL
Elementary school district
HARRISBURG CITY
Middle school district
HARRISBURG CITY
High school district
HARRISBURG CITY
Standard status
Active
Size
1,872 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
1405
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1900
Number of units
2
Building materials
Frame
Architectural style
Other
Listing Agency:
Iron Valley Real Estate of Central PA
(717) 563-0008
Listed By:
Monique Johnson · License #RS364015
(717) 678-1725
Added: May 6
Changed: Sep 27
Last Checked: Sep 28 at 2:06PM
MLS# PADA2058432
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,872-square-foot triplex was built in 1900 on a 0.06-acre lot and is being sold as-is. Renovation work has begun, leaving the interior to be completed according to the purchaser’s specifications. Unit 1 includes 1 bedroom and 2 bathrooms, while Unit 2 is configured for 3-4 bedrooms with plumbing for 2 bathrooms. Details for the third unit are not specified.
The property includes a detached 1-car garage along with off-street and on-street parking. Frame construction, forced-air heating, and window-unit cooling are in place. Located in Harrisburg’s Allison Hill area, the property offers a three-unit layout with renovation work already underway.
The property includes a detached 1-car garage along with off-street and on-street parking. Frame construction, forced-air heating, and window-unit cooling are in place. Located in Harrisburg’s Allison Hill area, the property offers a three-unit layout with renovation work already underway.
Key Highlights
- Three‑unit property with 1,872 square feet of building area
- Unit 1 includes 1 bedroom and 2 bathrooms
- Unit 2 offers 3‑4 bedrooms with plumbing for 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$16,709
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$334,180
$334.2K
Cap Rate 7%
$238,700
$238.7K
Cap Rate 9%
$185,656
$185.7K
Market Conditions
NOI Build-Up for 1,872 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$25.8K $13.80/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$23.9K $12.75/SF
− OpEx
−$7.2K −$3.83/SF
NOI
$16.7K $8.93/SF
Area
Dauphin County, PA
Vacancy
7.60%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$334,180
Cap Rate 7%
$238,700
Cap Rate 9%
$185,656
Alternative Uses
Best Use
Multifamily LT 5
$238.7K
$208.9K – $278.5K
NOI $16,709 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$212.7K
$186.1K – $248.2K
NOI $14,890 @ 7.0% cap · market cap 7.64%
Theoretical Best
Specialty Retail
$3.45M
$3.02M – $4.02M
NOI $241,348 @ 7.0% cap · market cap 123.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 17104, PA
20,058
Population
8,700
Households
2.3
Avg Household Size
32
Median Age
17%
College-Educated
80%
High-School Grad
3.4 sq mi
ZIP Area
5,899
Density / Sq Mi
$42,113
Median Household Income
$31,319
Median Earnings
$953
Median Rent
$102,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Frame construction with forced-air heat, window-unit cooling, and off-street parking.
Where is this triplex located?
The property is located at 323 CRESCENT Street Harrisburg, PA.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Three‑unit property with 1,872 square feet of building area; Unit 1 includes 1 bedroom and 2 bathrooms; Unit 2 offers 3‑4 bedrooms with plumbing for 2 bathrooms
