Historic Duplex with Carriage
For Sale
$625,000
560 S HANOVER Street, Carlisle, PA 17013
MULTI_FAMILY - Colonial - CARLISLE, PA
Property Size2,835 SF
Lot Size0.13 Acres
Price / SF$220.46
Days on Market35
Property Features for 560 S HANOVER Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Off Street, Garage - Detached
Subdivision
NONE AVAILABLE
High school
CARLISLE AREA
Elementary school district
CARLISLE AREA
Middle school district
CARLISLE AREA
High school district
CARLISLE AREA
Standard status
Active
Size
2,835 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
5097
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Architectural style
Colonial
Listing Agency:
Keller Williams of Central PA · Keller Williams Realty
(717) 761-4300
Listed By:
DAVID HOOKE · License #AB068020
(717) 422-9950
Added: Jul 6
Changed: Jul 20
Last Checked: Aug 9 at 8:06PM
MLS# PACB2056052
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.
A beautifully maintained historic duplex offering over four finished levels with five bedrooms and 2.5 bathrooms. The main residence features soaring ceilings, crown molding, detailed hardwood flooring, and original pocket doors, anchored by a grand main staircase. A kitchen with an eat-in area is complemented by a first-floor laundry room. Additional flexible living space is provided by a finished basement, and the home opens to a private, fully enclosed backyard with a pergola-covered patio.
A detached carriage house at the rear of the property provides its own living spaces, including a living room with a stone accent wall and recessed lighting, a full kitchen, a full bathroom, and private laundry. The carriage house also includes a spacious bedroom with a vaulted ceiling, built-in bookshelves, and a fireplace, with separate utilities already in place.
Carlisle Borough currently permits short-term, mid-term, and long-term rentals, supporting flexible use for an owner or investor seeking supplemental income. The property is positioned just minutes from downtown Carlisle with easy access to major commuter routes.
A detached carriage house at the rear of the property provides its own living spaces, including a living room with a stone accent wall and recessed lighting, a full kitchen, a full bathroom, and private laundry. The carriage house also includes a spacious bedroom with a vaulted ceiling, built-in bookshelves, and a fireplace, with separate utilities already in place.
Carlisle Borough currently permits short-term, mid-term, and long-term rentals, supporting flexible use for an owner or investor seeking supplemental income. The property is positioned just minutes from downtown Carlisle with easy access to major commuter routes.
Key Highlights
- Brick Colonial home built in 1900 with forced air heat and central air
- Over four finished levels with 5 bedrooms and 2.5 bathrooms; second floor has 3 bedrooms and third floor has 2
- First‑floor laundry and an eat‑in kitchen with an additional rear entry/near‑kitchen access
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
$26,974
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
4.32%
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%
$539,480
$539.5K
Cap Rate 7%
$385,343
$385.3K
Cap Rate 9%
$299,711
$299.7K
Market Conditions
NOI Build-Up for 2,835 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
$40.8K $14.40/SF
− Vacancy
−$2.3K −$0.81/SF
EGI
$38.5K $13.59/SF
− OpEx
−$11.6K −$4.08/SF
NOI
$27.0K $9.51/SF
Area
Cumberland County, PA
Vacancy
5.61%
Lease Rate
$14.40 /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%
$539,480
Cap Rate 7%
$385,343
Cap Rate 9%
$299,711
Alternative Uses
Best Use
Multifamily LT 5
$385.3K
$337.2K – $449.6K
NOI $26,974 @ 7.0% cap · market cap 4.32%
Second Best
Apartment 5plus
$342.1K
$299.3K – $399.1K
NOI $23,946 @ 7.0% cap · market cap 3.83%
Theoretical Best
Office A
$658.5K
$576.2K – $768.3K
NOI $46,098 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 17013, PA
36,578
Population
16,065
Households
2.3
Avg Household Size
39
Median Age
34%
College-Educated
93%
High-School Grad
39.2 sq mi
ZIP Area
933
Density / Sq Mi
$68,150
Median Household Income
$36,336
Median Earnings
$1,018
Median Rent
$221,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Historic home with five bedrooms and 2.5 baths plus a detached carriage house with independent utilities.
Where is this duplex located?
The property is located at 560 S HANOVER Street Carlisle, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Brick Colonial home built in 1900 with forced air heat and central air; Over four finished levels with 5 bedrooms and 2.5 bathrooms; second floor has 3 bedrooms and third floor has 2; First‑floor laundry and an eat‑in kitchen with an additional rear entry/near‑kitchen access
