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    1317-1319 UNIVERSITY Drive State College, PA 16801

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    New
    For Sale
    $425,000

    MULTI_FAMILY - Ranch - STATE COLLEGE, PA

    Type:Single Family Residence
    Property size:
    1,800 SF
    Lot size:
    0.35 Acres
    Price / SF:
    $236/SF
    Added:
    May 5, 2026
    Days on Market:
    2
    Last Refresh:
    May 6 at 1:06 pm

    Property Features for 1317-1319 UNIVERSITY Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Rooms
    Basement
    Parking features
    Off Street
    Interior features
    Bathroom - Tub Shower, Entry Level Bedroom, Kitchen - Eat-In, Wood Floors
    Standard status
    Active
    Size
    1,800 SF
    Lot size
    0.35 Acres

    Taxes and HOA fees

    Tax Annual Amount
    5413

    Utilities

    Heating system
    Ceiling

    Building Details

    Year built
    1969
    Number of units
    2
    Building materials
    Brick
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Ryan S Lowe

    Listing agent Ryan S Lowe License #AB066402

    Listing office RE/MAX Centre Realty 1375 Martin Street unit: 100, State College, PA

    Listing date May 5, 2026

    MLS# PACE2518794 Listing URL

    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.

    HighLights

    • Fully leased duplex with established STUDENT HOME LICENSES & RENTAL PERMITS
    • Unbeatable proximity to Penn State University
    • Situated along the CATA bus route
    • Strong rental income: Unit 1319 leased at $1,275/month plus $160 pet fee; Unit 1317 leased at $950/month
    • Ample off‑street parking and large, flat backyard
    • Zoned R2 and well‑maintained, offering a low‑maintenance investment

    Overview

    State College Duplex Investment Opportunity

    This fully leased duplex in State College Borough presents an investment opportunity with established student home licenses and rental permits. Its proximity to Penn State University drives strong demand. Located along the CATA bus route, the property benefits from consistent tenant interest. Each unit is approximately 900 square feet and features hardwood floors, a living room, a kitchen with refrigerators and ranges, 2 bedrooms, 1 full bathroom, and unfinished basements for storage. Both units are separately metered, with tenants responsible for all utilities. The property is heated with electric ceiling heat. Zoned R 2 and well maintained, this duplex offers a low-maintenance addition to any portfolio. Unit 1317 is leased at $950/month through 7/29/26, while Unit 1319 is leased at $1,275/month plus a $160/month pet fee through 7/29/26. Additional features include ample off-street parking and a large, flat backyard. The property is situated on a 0.35-acre lot. This sale will be part of a 1031 Exchange. Buyer will be responsible for crediting the Seller for final water, sewer & trash at settlement.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    State College
    County
    Centre
    State
    Pennsylvania
    Longitude
    -77.83838
    Latitude
    40.79048

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    FAQs

    What type of property is this?
    Duplex - Fully leased duplex near Penn State with strong rental demand.
    Where is this duplex located?
    The property is located at 1317-1319 UNIVERSITY Drive State College, 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: Fully leased duplex with established STUDENT HOME LICENSES & RENTAL PERMITS; Unbeatable proximity to Penn State University; Situated along the CATA bus route
    (814) 280-2424
    We can help!
    Listing Contact
    Ryan S Lowe
    Real Estate License ID: AB066402
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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