Remodeled Two-Unit
For Sale
$195,000
109 Royal Terrace, Harrisburg, PA 17103
Move-in-ready two-unit duplex with updated kitchens and bathrooms, plus a detached garage for off-street parking and storage.
Property Size1,470 SF
Price / SF$132.65
Days on Market205
Property Features for 109 Royal Terrace
General Information
Standard status
Active
Size
1,470 SF
Property subtype
Multi-Family / Fee Simple
Zoning
MULTI-FAMILY
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,309
Amenities
No
No Pool
Above Grade, Below Grade
Building Details
Year Built
1917
Listing Agency:
Joy Daniels Real Estate Group, Ltd
(407) 308-9887
Listed By:
Gianni Cavero-Aponte · License #RS348799
(407) 308-9887
Source:
Compass
Added: Jan 19
Changed: Aug 8
Last Checked: Jul 23 at 2:15AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Joy Daniels Real Estate Group, Ltd
Investment Insights
Based on property information with market context.
This recently remodeled two-unit duplex offers a move-in-ready interior with updated kitchens and bathrooms and modern finishes throughout. The property is configured as two separate units within a single building, providing a straightforward setup for both owner-occupants and investors.
A detached garage adds off-street parking and additional storage. The property is located near major routes and close to shopping, dining, and other local amenities in the City of Harrisburg.
Overall, the combination of interior upgrades and the detached garage makes this an attractive income property or an owner-occupied option with rental potential.
A detached garage adds off-street parking and additional storage. The property is located near major routes and close to shopping, dining, and other local amenities in the City of Harrisburg.
Overall, the combination of interior upgrades and the detached garage makes this an attractive income property or an owner-occupied option with rental potential.
Key Highlights
- Move‑in‑ready 2‑unit duplex with recently updated kitchens and bathrooms
- Recently remodeled with modern finishes throughout
- Detached garage provides off‑street parking and additional storage
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
$13,121
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
6.73%
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%
$262,420
$262.4K
Cap Rate 7%
$187,443
$187.4K
Cap Rate 9%
$145,789
$145.8K
Market Conditions
NOI Build-Up for 1,470 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
$20.3K $13.80/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$18.7K $12.75/SF
− OpEx
−$5.6K −$3.83/SF
NOI
$13.1K $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%
$262,420
Cap Rate 7%
$187,443
Cap Rate 9%
$145,789
Alternative Uses
Best Use
Multifamily LT 5
$187.4K
$164.0K – $218.7K
NOI $13,121 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$167.0K
$146.2K – $194.9K
NOI $11,693 @ 7.0% cap · market cap 6.00%
Theoretical Best
Specialty Retail
$2.71M
$2.37M – $3.16M
NOI $189,520 @ 7.0% cap · market cap 97.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,789
Businesses Nearby
Explore this area
Business Placement
Demographics for 17103, PA
12,225
Population
5,345
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
6,434
Density / Sq Mi
$41,383
Median Household Income
$33,608
Median Earnings
$933
Median Rent
$113,100
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?
Duplex - Move-in-ready two-unit duplex with updated kitchens and bathrooms, plus a detached garage for off-street parking and storage.
Where is this duplex located?
The property is located at 109 Royal Terrace Harrisburg, PA.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Move‑in‑ready 2‑unit duplex with recently updated kitchens and bathrooms; Recently remodeled with modern finishes throughout; Detached garage provides off‑street parking and additional storage
