Updated Three-Unit
New
For Sale
$249,900
615-619 OLIVER Street, Williamsport, PA 17701
MULTI_FAMILY - Williamsport, PA
Property Size2,592 SF
Lot Size0.10 Acres
Price / SF$96.41
Days on Market1
Property Features for 615-619 OLIVER Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
7
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 7, Bedroom 5, Bedroom 6, Bathroom 3, Bedroom 3, Bedroom 4, Bathroom 1
View
City
Elementary school district
Williamsport
Middle school district
Williamsport
High school district
Williamsport
Subdivision
WILLIAMSPORT CITY
Standard status
Active
APN
70+,008.0-0501.00-000+
Size
2,592 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
4596
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1901
Floors in Building
2
Number of units
3
Flooring type
Vinyl, Carpet, Laminate
Building materials
Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Iron Valley Real Estate North Central PA
(570) 979-1002
Listed By:
Selina R Pulizzi · License #Rs330889
(570) 772-5170
Added: Aug 14
Last Checked: Aug 14 at 5:06PM
MLS# WB-104605
Copyright © 2026 West Branch Valley Board of REALTORS. 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 2,592-square-foot triplex contains three residential units, all currently rented. Recent improvements include refreshed kitchens, new appliances, updated flooring, and newer furnaces, supporting an already occupied configuration. Vinyl, carpet, and laminate flooring are present throughout the property.
Constructed in 1901, the building features frame construction with vinyl siding, a shingle roof, natural gas heat, and public water service. The property sits on a 0.1-acre lot and is zoned R-2. It is located at 615-619 Oliver Street in Williamsport, Pennsylvania.
Constructed in 1901, the building features frame construction with vinyl siding, a shingle roof, natural gas heat, and public water service. The property sits on a 0.1-acre lot and is zoned R-2. It is located at 615-619 Oliver Street in Williamsport, Pennsylvania.
Key Highlights
- Three‑unit property with all three units currently rented
- 2592 square feet on a 0.1‑acre lot
- Refreshed kitchens with new appliances
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
$21,147
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
8.46%
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%
$422,940
$422.9K
Cap Rate 7%
$302,100
$302.1K
Cap Rate 9%
$234,967
$235.0K
Market Conditions
NOI Build-Up for 2,592 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
$32.7K $12.60/SF
− Vacancy
−$2.4K −$0.95/SF
EGI
$30.2K $11.66/SF
− OpEx
−$9.1K −$3.50/SF
NOI
$21.1K $8.16/SF
Area
Lycoming County, PA
Vacancy
7.50%
Lease Rate
$12.60 /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%
$422,940
Cap Rate 7%
$302,100
Cap Rate 9%
$234,967
Alternative Uses
Best Use
Multifamily LT 5
$302.1K
$264.3K – $352.5K
NOI $21,147 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$280.2K
$245.1K – $326.9K
NOI $19,611 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$558.6K
$488.8K – $651.7K
NOI $39,101 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
Explore this area
Business Placement
Demographics for 17701, PA
43,197
Population
20,891
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
98.0 sq mi
ZIP Area
441
Density / Sq Mi
$52,770
Median Household Income
$33,643
Median Earnings
$869
Median Rent
$176,200
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?
Triplex - Three rented units include refreshed kitchens, newer furnaces, and updated flooring.
Where is this triplex located?
The property is located at 615-619 OLIVER Street Williamsport, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Three‑unit property with all three units currently rented; 2592 square feet on a 0.1‑acre lot; Refreshed kitchens with new appliances
