Furnished Duplex with Off-Street
For Sale
$360,000
Pending
743-745 W 3RD Street, Williamsport, PA 17701
Multi-Units, Williamsport, PA
Property Size3,213 SF
Lot Size0.17 Acres
Days on Market61
Property Features for 743-745 W 3RD Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
9
Rooms
Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 8, Bedroom 9, Bedroom 7, Bedroom 6, Bedroom 4, Bedroom 2
Parking features
Alley
View
City
Elementary school district
Williamsport
Middle school district
Williamsport
High school district
Williamsport
Subdivision
WILLIAMSPORT CITY
Standard status
Pending
APN
65+,003.0-0337.00-000+
Size
3,213 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
3511
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Amenities
on-site laundry
off-street parking
Building Details
Year built
1901
Floors in Building
2
Number of units
2
Flooring type
Linoleum, Wood
Building materials
Frame, Wood Siding
Roof type
Shingle
Listing Agency:
Iron Valley Real Estate North Central PA
(570) 979-1002
Listed By:
Dawn Dyer · License #RS343310
(570) 916-8266
Added: Jul 14
Changed: Sep 7
Last Checked: Sep 12 at 2:06AM
MLS# WB-104371
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 3,213-square-foot duplex contains two furnished apartments with a combined 9 bedrooms and 4 full baths. One apartment has been completely renovated with an open kitchen arrangement, stainless steel appliances, and contemporary finishes. The second features a Victorian-style interior, hardwood flooring, and generously sized bedrooms. The property was built in 1901 and includes frame construction, wood siding, a shingle roof, and hot-water heating powered by natural gas.
Set on 0.17 acres in Williamsport, the property includes a large off-street parking area and on-site laundry. Both apartments are fully rented and include all utilities other than internet. Its R3 zoning and proximity to Pennsylvania College of Technology support its stated student-housing use.
Set on 0.17 acres in Williamsport, the property includes a large off-street parking area and on-site laundry. Both apartments are fully rented and include all utilities other than internet. Its R3 zoning and proximity to Pennsylvania College of Technology support its stated student-housing use.
Key Highlights
- Duplex with 3,213 square feet and 0.17 acres
- Two furnished apartments totaling 9 bedrooms and 4 full baths
- Renovated 5‑bedroom, 2‑bath unit with stainless steel kitchen
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
$26,213
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
7.28%
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%
$524,260
$524.3K
Cap Rate 7%
$374,471
$374.5K
Cap Rate 9%
$291,256
$291.3K
Market Conditions
NOI Build-Up for 3,213 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
$40.5K $12.60/SF
− Vacancy
−$3.0K −$0.95/SF
EGI
$37.4K $11.66/SF
− OpEx
−$11.2K −$3.50/SF
NOI
$26.2K $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%
$524,260
Cap Rate 7%
$374,471
Cap Rate 9%
$291,256
Alternative Uses
Best Use
Multifamily LT 5
$374.5K
$327.7K – $436.9K
NOI $26,213 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,309 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$692.4K
$605.9K – $807.8K
NOI $48,470 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
957
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two furnished apartments offer renovated finishes, hardwood floors, on-site laundry, and separate four- and five-bedroom layouts.
Where is this duplex located?
The property is located at 743-745 W 3RD Street Williamsport, PA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Duplex with 3,213 square feet and 0.17 acres; Two furnished apartments totaling 9 bedrooms and 4 full baths; Renovated 5‑bedroom, 2‑bath unit with stainless steel kitchen
