6-Car Garage
For Sale
$359,900
235 S 29TH ST, Harrisburg, PA 17103
Two residential layouts offer flexibility for investors or owner-occupants, with substantial detached garage capacity.
Property Size2,692 SF
Price / SF$133.69
Days on Market8
Property Features for 235 S 29TH ST
General Information
Standard status
Active
Size
2,692 SF
Total Parking Spaces
6
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Listing Agency:
Coldwell Banker Realty
(717) 761-4800
Listed By:
Colin M Forrest
(717) 757-5073
Source:
Hostetterrealty
Added: Sep 5
Last Checked: Sep 12 at 7:28AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This duplex at 235 S 29TH ST includes two residential units with distinct living areas and a 6-car detached garage arrangement. The unit mix consists of a 3-bedroom residence and a 2-bedroom residence, while the garages provide additional space for storage, workshop use, or owner needs.
The property is positioned in Harrisburg near major highways, shopping, dining, and downtown attractions. Its combination of residential units and extensive garage space supports a range of ownership and occupancy strategies, including an owner-occupant arrangement or continued use as an income-producing multifamily property.
The property is positioned in Harrisburg near major highways, shopping, dining, and downtown attractions. Its combination of residential units and extensive garage space supports a range of ownership and occupancy strategies, including an owner-occupant arrangement or continued use as an income-producing multifamily property.
Key Highlights
- Two‑unit duplex with 3‑bedroom and 2‑bedroom residences
- 6‑car detached garage configuration
- Separate living areas within the residential units
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
$24,028
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
6.68%
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%
$480,560
$480.6K
Cap Rate 7%
$343,257
$343.3K
Cap Rate 9%
$266,978
$267.0K
Market Conditions
NOI Build-Up for 2,692 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
$37.1K $13.80/SF
− Vacancy
−$2.8K −$1.05/SF
EGI
$34.3K $12.75/SF
− OpEx
−$10.3K −$3.83/SF
NOI
$24.0K $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%
$480,560
Cap Rate 7%
$343,257
Cap Rate 9%
$266,978
Alternative Uses
Best Use
Multifamily LT 5
$343.3K
$300.4K – $400.5K
NOI $24,028 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$305.9K
$267.7K – $356.9K
NOI $21,413 @ 7.0% cap · market cap 5.95%
Theoretical Best
Specialty Retail
$4.96M
$4.34M – $5.78M
NOI $347,066 @ 7.0% cap · market cap 96.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
718
Businesses Nearby
Explore this area
Business Placement
Demographics for 17103, PA
12,225
Population
5,345
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
6,434
Density / Sq Mi
$41,383
Median Household Income
$33,608
Median Earnings
$933
Median Rent
$113,100
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 - Two residential layouts offer flexibility for investors or owner-occupants, with substantial detached garage capacity.
Where is this duplex located?
The property is located at 235 S 29TH ST Harrisburg, PA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two‑unit duplex with 3‑bedroom and 2‑bedroom residences; 6‑car detached garage configuration; Separate living areas within the residential units
