Triplex with
For Sale
$729,900
114 TUCKER Road, Spring Mills, PA 16875
Multi-Family, SPRING MILLS, PA
Property Size2,700 SF
Lot Size16.89 Acres
Price / SF$270.33
Days on Market29
Property Features for 114 TUCKER Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
6
Parking features
Garage - Detached, Driveway, Off Street
Pool private
1
Elementary school district
PENNS VALLEY AREA
Middle school district
PENNS VALLEY AREA
High school district
PENNS VALLEY AREA
Standard status
Active
Size
2,700 SF
Lot size
16.89 Acres
Taxes and HOA fees
Tax Annual Amount
4463
Utilities
Heating system
Hot Water(Heating), Baseboard
Amenities
in-ground pool
pool house
deck
laundry
Building Details
Year built
1910
Number of units
3
Building materials
Frame
Architectural style
National
Listing Agency:
RE/MAX Centre Realty · RE/MAX International
(814) 231-8200
Listed By:
Marc Mcmaster · License #AB067113
(814) 360-6961
Added: Aug 12
Changed: Sep 6
Last Checked: Sep 9 at 12:06PM
MLS# PACE2520180
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.
This 1910 frame property includes a three-story farmhouse arranged as three apartments, with two-bedroom, one-bath layouts in the first two units and a two-bedroom, one-and-a-half-bath third unit with private laundry. The farmhouse measures 2,700 square feet. A separate unfinished home includes three bedrooms, three bathrooms, an integral one-car garage, ICF wall construction, custom woodwork, built-ins, stone details, and iron railings. Additional improvements include a bank barn, a two-story workshop with an overhead garage door, and a one-story barn/garage with two overhead doors.
Set on 16.89 acres at 114 Tucker Road in Spring Mills, the property also has an in-ground pool, pool house, and deck that require repair. Parking includes a detached garage, driveway, and off-street spaces. The farmhouse has hot-water and baseboard heating, while the property’s residential and accessory structures provide substantial existing space across the Centre County setting.
Set on 16.89 acres at 114 Tucker Road in Spring Mills, the property also has an in-ground pool, pool house, and deck that require repair. Parking includes a detached garage, driveway, and off-street spaces. The farmhouse has hot-water and baseboard heating, while the property’s residential and accessory structures provide substantial existing space across the Centre County setting.
Key Highlights
- Three apartments in a three‑story farmhouse
- 16.89‑acre property at 114 Tucker Road, Spring Mills, PA 16875
- Apartment mix includes three 2‑bedroom units; the third has 1.5 baths and private laundry
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
$23,963
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
3.28%
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%
$479,260
$479.3K
Cap Rate 7%
$342,329
$342.3K
Cap Rate 9%
$266,256
$266.3K
Market Conditions
NOI Build-Up for 2,700 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
$36.6K $13.56/SF
− Vacancy
−$2.4K −$0.88/SF
EGI
$34.2K $12.68/SF
− OpEx
−$10.3K −$3.80/SF
NOI
$24.0K $8.88/SF
Area
Centre County, PA
Vacancy
6.50%
Lease Rate
$13.56 /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%
$479,260
Cap Rate 7%
$342,329
Cap Rate 9%
$266,256
Alternative Uses
Best Use
Multifamily LT 5
$342.3K
$299.5K – $399.4K
NOI $23,963 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$307.0K
$268.6K – $358.1K
NOI $21,487 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$596.3K
$521.8K – $695.7K
NOI $41,742 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
20
Businesses Nearby
Explore this area
Business Placement
Demographics for 16875, PA
4,031
Population
1,640
Households
2.5
Avg Household Size
46
Median Age
33%
College-Educated
94%
High-School Grad
82.1 sq mi
ZIP Area
49
Density / Sq Mi
$67,645
Median Household Income
$44,497
Median Earnings
$905
Median Rent
$273,100
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?
Triplex - Three apartments are complemented by an unfinished residence, barns, workshop space, and a private pool on an expansive rural property.
Where is this triplex located?
The property is located at 114 TUCKER Road Spring Mills, PA.
What is the asking price?
The asking price for this property is $729,900.
What are key features of this property?
This property features: Three apartments in a three‑story farmhouse; 16.89‑acre property at 114 Tucker Road, Spring Mills, PA 16875; Apartment mix includes three 2‑bedroom units; the third has 1.5 baths and private laundry
