Furnished Student-Housing
For Sale
$360,000
Pending
942 W 3RD Street, Williamsport, PA 17701
Multi-Units, Williamsport, PA
Property Size2,860 SF
Lot Size0.17 Acres
Days on Market79
Property Features for 942 W 3RD Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
9
Full bathrooms
4
Rooms
Bedroom 7, Basement, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 9, Bedroom 8, Bedroom 3, Bedroom 4, Bathroom 4, Bedroom 5, Bedroom 6, Bedroom 1, Bedroom 2
Parking features
Alley
Basement
Full
View
City
Elementary school district
Williamsport
Middle school district
Williamsport
High school district
Williamsport
Subdivision
WILLIAMSPORT CITY
Standard status
Pending
APN
65+,005.0-0208.00-000+
Size
2,860 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
2096
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1905
Floors in Building
2
Number of units
2
Flooring type
Linoleum, Wood, Carpet
Building materials
Stone, Wood Siding
Roof type
Metal
Listing Agency:
Iron Valley Real Estate North Central PA
(570) 979-1002
Listed By:
Dawn Dyer · License #RS343310
(570) 916-8266
Added: Jun 26
Changed: Sep 7
Last Checked: Sep 12 at 2:06AM
MLS# WB-104257
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 duplex contains 2,860 square feet across two furnished residences configured with five bedrooms in one unit and four in the other. The property is currently fully rented and includes four bathrooms, basement space, wood and linoleum flooring, electric baseboard heat, wall-unit cooling, and a metal roof. Construction materials include stone and wood siding, with public water service and alley parking access.
Positioned near Pennsylvania College of Technology, the property is suited to its existing student-housing use. The 0.17-acre parcel is zoned R3 and was built in 1905. Its current configuration combines a two-unit layout with a nine-bedroom total and furnished interiors.
Positioned near Pennsylvania College of Technology, the property is suited to its existing student-housing use. The 0.17-acre parcel is zoned R3 and was built in 1905. Its current configuration combines a two-unit layout with a nine-bedroom total and furnished interiors.
Key Highlights
- Two‑unit duplex with five bedrooms in one residence and four in the other
- Furnished student housing property currently fully rented
- 2,860 square feet on a 0.17‑acre parcel
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
$23,333
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
6.48%
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%
$466,660
$466.7K
Cap Rate 7%
$333,329
$333.3K
Cap Rate 9%
$259,256
$259.3K
Market Conditions
NOI Build-Up for 2,860 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
$36.0K $12.60/SF
− Vacancy
−$2.7K −$0.95/SF
EGI
$33.3K $11.66/SF
− OpEx
−$10.0K −$3.50/SF
NOI
$23.3K $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%
$466,660
Cap Rate 7%
$333,329
Cap Rate 9%
$259,256
Alternative Uses
Best Use
Multifamily LT 5
$333.3K
$291.7K – $388.9K
NOI $23,333 @ 7.0% cap · market cap 6.48%
Second Best
Apartment 5plus
$309.1K
$270.5K – $360.7K
NOI $21,639 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$616.3K
$539.3K – $719.1K
NOI $43,144 @ 7.0% cap · market cap 11.98%
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
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
610
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two furnished residences provide a nine-bedroom configuration near Pennsylvania College of Technology.
Where is this duplex located?
The property is located at 942 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: Two‑unit duplex with five bedrooms in one residence and four in the other; Furnished student housing property currently fully rented; 2,860 square feet on a 0.17‑acre parcel
