Duplex with Private Patio and
For Sale
$239,900
118 Cumberland Street, Harrisburg, PA 17102
Residential zoning supports a two-unit income property in Midtown Harrisburg.
Property Size1,760 SF
Price / SF$136.31
Days on Market160
Property Features for 118 Cumberland Street
General Information
Standard status
Active
Size
1,760 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Taxes and HOA fees
Annual Taxes
$3,035
Amenities
No
Oven/Range - Gas, Refrigerator
Built-Ins, Bathroom - Tub Shower, Bathroom - Stall Shower, Kitchen - Eat-In
https://tour.giraffe360.com/11fa1597e78544e696fcb71cd7770506
No Pool
Above Grade, Below Grade
Building Details
Year Built
1900
Listing Agency:
Midtown Property Management
(717) 497-8895
Listed By:
Holden James Bassett · License #RS372616
(717) 497-8895
Source:
Compass
Added: Mar 25
Changed: Aug 30
Last Checked: Aug 31 at 1:02AM
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 Midtown Property Management
Investment Insights
Based on property information with market context.
This duplex contains two residential units within 1,760 square feet. The first unit offers one bedroom and one bathroom, along with backyard access, a private patio, and basement space. The second unit provides two bedrooms and one bathroom. Interior features include gas oven/range and refrigerator appliances, built-ins, an eat-in kitchen, a tub-shower combination, and a stall shower.
The property is located at 118 Cumberland Street in Harrisburg, within the City of Harrisburg MLS area. It was built in 1900 and is zoned RESIDENTIAL. The school district is Harrisburg City, with Harrisburg High School identified as the assigned high school.
The property is located at 118 Cumberland Street in Harrisburg, within the City of Harrisburg MLS area. It was built in 1900 and is zoned RESIDENTIAL. The school district is Harrisburg City, with Harrisburg High School identified as the assigned high school.
Key Highlights
- Two‑unit duplex with 1,760 square feet
- Unit mix includes one 1‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit
- First unit includes backyard access, a private patio, and basement space
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
$15,709
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
6.55%
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%
$314,180
$314.2K
Cap Rate 7%
$224,414
$224.4K
Cap Rate 9%
$174,544
$174.5K
Market Conditions
NOI Build-Up for 1,760 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
$24.3K $13.80/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$22.4K $12.75/SF
− OpEx
−$6.7K −$3.83/SF
NOI
$15.7K $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%
$314,180
Cap Rate 7%
$224,414
Cap Rate 9%
$174,544
Alternative Uses
Best Use
Multifamily LT 5
$224.4K
$196.4K – $261.8K
NOI $15,709 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$200.0K
$175.0K – $233.3K
NOI $14,000 @ 7.0% cap · market cap 5.84%
Theoretical Best
Specialty Retail
$3.24M
$2.84M – $3.78M
NOI $226,908 @ 7.0% cap · market cap 94.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,241
Businesses Nearby
Explore this area
Business Placement
Demographics for 17102, PA
7,989
Population
5,105
Households
1.6
Avg Household Size
37
Median Age
50%
College-Educated
91%
High-School Grad
0.8 sq mi
ZIP Area
9,986
Density / Sq Mi
$55,369
Median Household Income
$47,544
Median Earnings
$1,062
Median Rent
$172,900
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 - Residential zoning supports a two-unit income property in Midtown Harrisburg.
Where is this duplex located?
The property is located at 118 Cumberland Street Harrisburg, PA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,760 square feet; Unit mix includes one 1‑bedroom, 1‑bath unit and one 2‑bedroom, 1‑bath unit; First unit includes backyard access, a private patio, and basement space
