Furnished Duplex Near Penn
For Sale
$425,000
956-958 W 3RD Street, Williamsport, PA 17701
Multi-Units, Williamsport, PA
Property Size3,501 SF
Lot Size0.18 Acres
Price / SF$121.39
Days on Market21
Property Features for 956-958 W 3RD Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
10
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 1, Bedroom 3, Bedroom 8, Bedroom 9, Bedroom 7, Bedroom 10, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Alley
View
City
Elementary school district
Williamsport
Middle school district
Williamsport
High school district
Williamsport
Subdivision
WILLIAMSPORT CITY
Standard status
Active
APN
65+,005.0-0203.00-000+
Size
3,501 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Annual Amount
2900
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1901
Floors in Building
2
Number of units
2
Flooring type
Wood, Carpet
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: Aug 23
Changed: Sep 7
Last Checked: Sep 12 at 2:06AM
MLS# WB-104676
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 3,501-square-foot duplex occupies a 0.18-acre parcel and was built in 1901 with frame construction and wood siding. The property contains 10 bedrooms and 4 bathrooms, with carpet and wood flooring throughout. Recent improvements include a shingle roof, interior and exterior paint, granite countertops, new cabinetry, stainless steel appliances, and updated furnishings. Natural gas hot-water heating and public water serve the property.
Located across the street from Pennsylvania College of Technology, the fully furnished property is leased to Penn College students through May 2027. A rear parking lot provides off-street parking, with alley access noted in the property features. The R3 zoning designation and existing student-oriented occupancy support the property's current duplex configuration.
Located across the street from Pennsylvania College of Technology, the fully furnished property is leased to Penn College students through May 2027. A rear parking lot provides off-street parking, with alley access noted in the property features. The R3 zoning designation and existing student-oriented occupancy support the property's current duplex configuration.
Key Highlights
- 3,501‑square‑foot duplex on a 0.18‑acre parcel
- 10 bedrooms and 4 bathrooms
- Leased to Penn College students through May 2027
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
$28,563
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
6.72%
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%
$571,260
$571.3K
Cap Rate 7%
$408,043
$408.0K
Cap Rate 9%
$317,367
$317.4K
Market Conditions
NOI Build-Up for 3,501 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
$44.1K $12.60/SF
− Vacancy
−$3.3K −$0.95/SF
EGI
$40.8K $11.66/SF
− OpEx
−$12.2K −$3.50/SF
NOI
$28.6K $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%
$571,260
Cap Rate 7%
$408,043
Cap Rate 9%
$317,367
Alternative Uses
Best Use
Multifamily LT 5
$408.0K
$357.0K – $476.1K
NOI $28,563 @ 7.0% cap · market cap 6.72%
Second Best
Apartment 5plus
$378.4K
$331.1K – $441.5K
NOI $26,488 @ 7.0% cap · market cap 6.23%
Theoretical Best
Office A
$754.5K
$660.2K – $880.2K
NOI $52,814 @ 7.0% cap · market cap 12.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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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 - Victorian-style student housing with updated interiors, rear parking, and a lease extending through May 2027.
Where is this duplex located?
The property is located at 956-958 W 3RD Street Williamsport, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: 3,501‑square‑foot duplex on a 0.18‑acre parcel; 10 bedrooms and 4 bathrooms; Leased to Penn College students through May 2027
