Fully Leased Duplex
1317-1319 University Drive State College, PA 16801
1317-1319 University Drive, State College, PA, 16801
$425,000
For Sale
$425,000
Two separately metered units each include 2 bedrooms, 1 bathroom, and unfinished basement storage.
Property Size1,800 SF
Price / SF$236.11
Days on Market83
Property Features for 1317-1319 University Drive
General Information
- Standard status
- Active
- Size
- 1,800 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1969
Listing agency
RE/MAX Centre Realty
(814) 280-2424
Listed by
Ryan S Lowe · License #AB066402
(814) 280-2424
Source
Compass
Added: May 2 Updated: Jul 22 at 7:35PM Checked: Jul 22 at 7:35PM
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 RE/MAX Centre Realty
Investment Insights
Based on property information with market context.
This fully leased duplex offers two residential units with approximately 900 sq. ft. each. The units include hardwood floors, a living room, a kitchen with included refrigerators and ranges, two bedrooms, and one full bathroom. Each unit also has an unfinished basement that provides additional storage, and both units are separately metered with tenants responsible for all utilities. The property is heated with electric ceiling heat.
The duplex is located in State College Borough along the CATA bus route, with a bus stop less than 1 mile away. Additional features include ample off-street parking and a large, flat backyard. The property is zoned R-2 and is described as well maintained.
Unit 1317 is leased through 7/29/26 and Unit 1319 is leased through 7/29/26, with the listing noting a pet fee associated with Unit 1319. The sale will be part of a 1031 exchange, and the buyer will be responsible for crediting the seller for final water, sewer, and trash at settlement.
The duplex is located in State College Borough along the CATA bus route, with a bus stop less than 1 mile away. Additional features include ample off-street parking and a large, flat backyard. The property is zoned R-2 and is described as well maintained.
Unit 1317 is leased through 7/29/26 and Unit 1319 is leased through 7/29/26, with the listing noting a pet fee associated with Unit 1319. The sale will be part of a 1031 exchange, and the buyer will be responsible for crediting the seller for final water, sewer, and trash at settlement.
Key Highlights
- Fully leased duplex with established student home licenses and rental permits
- Two separately metered units; each is approximately 900 SF with 2 bedrooms, 1 full bath, and an unfinished basement
- Unit 1317 leased at $950/month through 7/29/26 (tenant vacating by 7/29/26)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.4k | $13.56 |
| − Vacancy | −$1.6k | −$0.88 |
| EGI | $22.8k | $12.68 |
| − OpEx | −$6.8k | −$3.80 |
| NOI | $16.0k | $8.88 |
1,800 SF · lease $13.56/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$228.2K
$199.7K – $266.3K
NOI $15,975 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$204.6K
$179.1K – $238.7K
NOI $14,324 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$397.5K
$347.9K – $463.8K
NOI $27,828 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Two separately metered units each include 2 bedrooms, 1 bathroom, and unfinished basement storage.
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 and rental permits; Two separately metered units; each is approximately 900 SF with 2 bedrooms, 1 full bath, and an unfinished basement; Unit 1317 leased at $950/month through 7/29/26 (tenant vacating by 7/29/26)
