Historic Duplex with Carriage
For Sale
$625,000
560 S HANOVER Street, Carlisle, PA 17013
Multi-Family, CARLISLE, PA
Property Size2,835 SF
Lot Size0.13 Acres
Price / SF$220.46
Days on Market81
Property Features for 560 S HANOVER Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Garage - Detached, Off Street
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: Sep 21
Last Checked: Sep 24 at 6:06AM
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.
Located at 560 S Hanover Street in Carlisle, this 1900 brick Colonial offers 2,835 square feet across more than four finished levels. The main residence includes five bedrooms, 2.5 bathrooms, a finished basement, kitchen with designated eating area, first-floor laundry, hardwood floors, pocket doors, crown molding, and detailed woodwork. Forced-air heat and central air serve the home.
A detached carriage house adds a separate living arrangement with its own utilities, living room, full kitchen, full bathroom, private laundry, bedroom, vaulted ceiling, built-in shelving, and fireplace. Exterior features include a pergola-covered patio, mature landscaping, and a fully enclosed privacy fence. Parking includes a detached garage and off-street spaces. Carlisle Borough permits short-term, mid-term, and long-term rentals, supporting a range of residential and income-producing uses.
A detached carriage house adds a separate living arrangement with its own utilities, living room, full kitchen, full bathroom, private laundry, bedroom, vaulted ceiling, built-in shelving, and fireplace. Exterior features include a pergola-covered patio, mature landscaping, and a fully enclosed privacy fence. Parking includes a detached garage and off-street spaces. Carlisle Borough permits short-term, mid-term, and long-term rentals, supporting a range of residential and income-producing uses.
Key Highlights
- Detached carriage house with separate utilities, kitchen, full bathroom, laundry, bedroom, and fireplace
- Main residence contains five bedrooms, 2.5 bathrooms, and more than four finished levels
- 2,835 square feet on a 0.13‑acre lot
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
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,064
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
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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?
Duplex - Brick Colonial duplex with a finished basement, detached carriage house, fenced patio, and separate 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: Detached carriage house with separate utilities, kitchen, full bathroom, laundry, bedroom, and fireplace; Main residence contains five bedrooms, 2.5 bathrooms, and more than four finished levels; 2,835 square feet on a 0.13‑acre lot
