Building Details

Year Built 1900

Year Renovated 2025

Buildings 1

Listing Agency: Lime House b***@limehouserealty.com Show Phone

Listed By: Aaron Glick · License #RS374368 Show Phone

Source: Cummingsrealtors

Added: Sep 21 Changed: Sep 24 Last Checked: Sep 24 at 9:41AM

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Investment Insights

Based on property information with market context.

Renovated in 2025, this 1,984-square-foot duplex contains two independent residences. Each unit has dedicated laundry and a private porch, while three electric meters support separate utility management. The lower residence includes ramp access and an accessible shower. Public water and sewer serve the building, which also includes two off-street parking spaces and two storage containers conveyed with the property.

The property is located at 140 Water Street in Dalmatia, within walking distance of the Susquehanna River and less than a quarter mile from the Dalmatia Boat Launch. Its two-unit configuration, updated condition, separate utility metering, and added storage provide a practical setup for rental use, owner occupancy, or multigenerational living.

Key Highlights

• Two‑unit duplex measuring 1,984 square feet
• Updated in 2025
• Each unit includes laundry facilities and a private porch

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

$14,855

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

6.32%

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%

$297,100 $297.1K

Cap Rate 7%

$212,214 $212.2K

Cap Rate 9%

$165,056 $165.1K

Market Conditions

NOI Build-Up for 1,984 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

$22.6K $11.40/SF

− Vacancy

−$1.4K −$0.70/SF

EGI

$21.2K $10.70/SF

− OpEx

−$6.4K −$3.21/SF

NOI

$14.9K $7.49/SF

Area

Northumberland County, PA

Vacancy

6.17%

Lease Rate

$11.40 /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%

$297,100

Cap Rate 7%

$212,214

Cap Rate 9%

$165,056

Alternative Uses

Best Use

Multifamily LT 5

$212.2K

$185.7K – $247.6K (±1% cap)

NOI $14,855 @ 7.0% cap · market cap 6.32%

Second Best

Apartment 5plus

$195.9K

$171.4K – $228.5K (±1% cap)

NOI $13,712 @ 7.0% cap · market cap 5.83%

Theoretical Best

Warehouse

$2.41M

$2.11M – $2.82M (±1% cap)

NOI $168,988 @ 7.0% cap · market cap 71.91%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Building Supply Furniture & Home Goods Dental Office Auto Repair Shop Daycare Center Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 17017, PA

1,723

Population

777

Households

2.2

Avg Household Size

48

Median Age

21%

College-Educated

88%

High-School Grad

25.3 sq mi

ZIP Area

68

Density / Sq Mi

$70,625

Median Household Income

$47,883

Median Earnings

$709

Median Rent

$200,000

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Duplex - Separate laundry, private porches, and individual electric usage support flexible occupancy across both residences.

Where is this duplex located?

The property is located at 140 WATER STREET Dalmatia, PA.

What is the asking price?

The asking price for this property is $235,000.

What are key features of this property?

This property features: Two‑unit duplex measuring 1,984 square feet; Updated in 2025; Each unit includes laundry facilities and a private porch