Building Details

Year Built 1901

Listing Agency: Berkshire Hathaway HomeServices Homesale Realty j***@homesale.com Show Phone

Listed By: Julie M Gilbert · License #0666190 Show Phone

Source: Cummingsrealtors

Added: Aug 18 Changed: Aug 22 Last Checked: Aug 23 at 8:58AM

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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 Berkshire Hathaway HomeServices Homesale Realty

Investment Insights

Based on property information with market context.

This 1,716-square-foot over/under duplex, built in 1901, contains two residential units with a matching layout: each has two bedrooms, one full bathroom, a living room, and a kitchen. Each residence also includes its own washer and dryer, while the basement provides separate storage areas. The configuration supports continued duplex use and may also allow a return to single-family occupancy with limited work.

Major updates include a heating system, two water heaters with one serving each unit, and separate 200-amp electrical services installed in 2020. All 22 windows were replaced in 2015, and the second-floor kitchen was updated that year. The roof is newer, and the interior has been freshly painted with professionally cleaned carpeting. The property is located at 15696 Pennsylvania Avenue in State Line, PA, near restaurants, shopping, and interstate access.

Key Highlights

• 1,716 SF over/under duplex with two 2‑bedroom, 1‑bath units
• Each unit includes a living room, kitchen, washer, and dryer
• Separate 200‑amp electrical services installed in 2020

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

$17,067

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

6.27%

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%

$341,340 $341.3K

Cap Rate 7%

$243,814 $243.8K

Cap Rate 9%

$189,633 $189.6K

Market Conditions

NOI Build-Up for 1,716 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

$26.4K $15.36/SF

− Vacancy

−$2.0K −$1.15/SF

EGI

$24.4K $14.21/SF

− OpEx

−$7.3K −$4.26/SF

NOI

$17.1K $9.95/SF

Area

Franklin County, PA

Vacancy

7.50%

Lease Rate

$15.36 /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%

$341,340

Cap Rate 7%

$243,814

Cap Rate 9%

$189,633

Alternative Uses

Best Use

Multifamily LT 5

$243.8K

$213.3K – $284.5K (±1% cap)

NOI $17,067 @ 7.0% cap · market cap 6.27%

Second Best

Apartment 5plus

$220.2K

$192.6K – $256.9K (±1% cap)

NOI $15,411 @ 7.0% cap · market cap 5.66%

Theoretical Best

Office A

$416.1K

$364.1K – $485.4K (±1% cap)

NOI $29,125 @ 7.0% cap · market cap 10.70%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick Building Supply Law Firm Auto Parts Store Restaurant HVAC Service (Bike/Boat/Book/etc) Store

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

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Explore this area Business Placement

Demographics for 17263, PA

661

Population

249

Households

2.7

Avg Household Size

40

Median Age

19%

College-Educated

91%

High-School Grad

0.3 sq mi

ZIP Area

2,203

Density / Sq Mi

$51,083

Median Earnings

$204,700

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Two residences offer separate laundry, basement storage, and flexible occupancy options.

Where is this duplex located?

The property is located at 15696 PENNSYLVANIA AVENUE State Line, PA.

What is the asking price?

The asking price for this property is $272,250.

What are key features of this property?

This property features: 1,716 SF over/under duplex with two 2‑bedroom, 1‑bath units; Each unit includes a living room, kitchen, washer, and dryer; Separate 200‑amp electrical services installed in 2020