Purpose-Built Duplex with Separate
For Sale
Contact for pricing
Pending
118 South St, Shippenville, PA 16254
Purpose-built duplex with both units accessed from ground level and recently remodeled interior.
Property Size1,350 SF
Days on Market55
Property Features for 118 South St
General Information
Standard status
Pending
Size
1,350 SF
Property subtype
Multifamily
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Shawgo Real Estate LLC
Listed By:
Dana Shawgo · License #PA RM424170
(814) 677-7053
Source:
Crexi
Added: Jul 22
Changed: Sep 10
Last Checked: Sep 14 at 5:41AM
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 Shawgo Real Estate LLC
Investment Insights
Based on property information with market context.
This purposely built duplex features two separate units, with both accessed from the ground level. The property has undergone a recent remodel, reflecting an interior update to the existing layout. Each unit is described as having a strong floor plan, and interior photos are not available out of respect for the tenants’ privacy.
The duplex is located at 118 South St in Shippenville, PA (within the 16254 ZIP code). It is being offered for sale with the intention of serving investors seeking a residential income property configuration.
As presented, the asset consists of a two-unit residential structure with ground-level access to each unit.
The duplex is located at 118 South St in Shippenville, PA (within the 16254 ZIP code). It is being offered for sale with the intention of serving investors seeking a residential income property configuration.
As presented, the asset consists of a two-unit residential structure with ground-level access to each unit.
Key Highlights
- Purpose‑built duplex built in 1900
- Both units have ground‑level access
- Recently remodeled interior
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
$9,012
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
8.20%
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%
$180,240
$180.2K
Cap Rate 7%
$128,743
$128.7K
Cap Rate 9%
$100,133
$100.1K
Market Conditions
NOI Build-Up for 1,350 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
$13.8K $10.20/SF
− Vacancy
−$895 −$0.66/SF
EGI
$12.9K $9.54/SF
− OpEx
−$3.9K −$2.86/SF
NOI
$9.0K $6.68/SF
Area
Clarion County, PA
Vacancy
6.50%
Lease Rate
$10.20 /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%
$180,240
Cap Rate 7%
$128,743
Cap Rate 9%
$100,133
Alternative Uses
Best Use
Multifamily LT 5
$128.7K
$112.7K – $150.2K
NOI $9,012 @ 7.0% cap · market cap 8.20%
Second Best
Apartment 5plus
$119.6K
$104.7K – $139.6K
NOI $8,375 @ 7.0% cap · market cap 7.62%
Theoretical Best
Office A
$238.8K
$209.0K – $278.6K
NOI $16,718 @ 7.0% cap · market cap 15.21%
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
Location Intelligence
Trade Area within ½ mile
58
Businesses Nearby
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Business Placement
Demographics for 16254, PA
3,174
Population
1,551
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
91%
High-School Grad
47.2 sq mi
ZIP Area
67
Density / Sq Mi
$57,250
Median Household Income
$36,719
Median Earnings
$933
Median Rent
$155,200
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
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Frequently Asked Questions
What type of property is this?
Duplex - Purpose-built duplex with both units accessed from ground level and recently remodeled interior.
Where is this duplex located?
The property is located at 118 South St Shippenville, PA.
What is the asking price?
The asking price for this property is $109,900.
What are key features of this property?
This property features: Purpose‑built duplex built in 1900; Both units have ground‑level access; Recently remodeled interior
