Occupied Duplex With
For Sale
$214,900
8 S 18TH Street, Harrisburg, PA 17104
Multi-Family, HARRISBURG, PA
Property Size1,920 SF
Lot Size0.03 Acres
Price / SF$111.93
Days on Market85
Property Features for 8 S 18TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking features
On Street
High school
HARRISBURG
Elementary school district
HARRISBURG CITY
Middle school district
HARRISBURG CITY
High school district
HARRISBURG CITY
Standard status
Active
Size
1,920 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1420
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1906
Number of units
2
Building materials
Frame
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 657-8700
Listed By:
Michael Ogunyemi · License #RS352542
(443) 410-1671
Added: Jun 23
Changed: Aug 24
Last Checked: Sep 15 at 2:06PM
MLS# PADA2061258
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.
Built in 1906, this 1,920-square-foot frame duplex contains two residential units and is fully occupied by tenants. The property has Section 8 approval and includes a basement, electric heating, and baseboard heating. On-street parking serves the building.
Recent work includes replacement water heaters, a new stove and range, a new refrigerator, new baseboard heating units, selected window replacements, interior painting, and added insulation. The property occupies 0.03 acres at 8 S 18TH Street in Harrisburg, Pennsylvania, within Dauphin County.
Recent work includes replacement water heaters, a new stove and range, a new refrigerator, new baseboard heating units, selected window replacements, interior painting, and added insulation. The property occupies 0.03 acres at 8 S 18TH Street in Harrisburg, Pennsylvania, within Dauphin County.
Key Highlights
- Two‑unit duplex with 1,920 square feet of property size
- Fully occupied with tenants in place and Section 8 approved
- Recent water heaters, stove and range, refrigerator, and baseboard heating units
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
$17,138
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
7.97%
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%
$342,760
$342.8K
Cap Rate 7%
$244,829
$244.8K
Cap Rate 9%
$190,422
$190.4K
Market Conditions
NOI Build-Up for 1,920 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
$26.5K $13.80/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$24.5K $12.75/SF
− OpEx
−$7.3K −$3.83/SF
NOI
$17.1K $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%
$342,760
Cap Rate 7%
$244,829
Cap Rate 9%
$190,422
Alternative Uses
Best Use
Multifamily LT 5
$244.8K
$214.2K – $285.6K
NOI $17,138 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$218.2K
$190.9K – $254.5K
NOI $15,272 @ 7.0% cap · market cap 7.11%
Theoretical Best
Specialty Retail
$3.54M
$3.09M – $4.13M
NOI $247,536 @ 7.0% cap · market cap 115.19%
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
Location Intelligence
Trade Area within ½ mile
931
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
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-unit frame property with tenants in place, Section 8 approval, and recent improvements to major components.
Where is this duplex located?
The property is located at 8 S 18TH Street Harrisburg, PA.
What is the asking price?
The asking price for this property is $214,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,920 square feet of property size; Fully occupied with tenants in place and Section 8 approved; Recent water heaters, stove and range, refrigerator, and baseboard heating units
