A-Frame Income
For Sale
$419,000
159 LOWER GRANDVIEW ROAD, State College, PA 16801
A-frame dwelling with rental use, detached garage, covered driveway, and central air conditioning.
Property Size2,974 SF
Price / SF$173.57
Days on Market55
Property Features for 159 LOWER GRANDVIEW ROAD
General Information
Standard status
Active
Size
2,974 SF
Total Parking Spaces
12
Property subtype
Residential Income
Zoning
R1
Taxes and HOA fees
Annual Taxes
$4,388
Amenities
Central Air, Electric
Electric, Heat Pump
Crawl Space
Electric Water Heater
Mountain(s)
Asphalt, Garage, Driveway, Covered, Detached
A-Frame, Dwelling with Rental
Building Details
Building Size
2,974 SF
Year Built
1969
Listing Agency:
RE/MAX Centre Realty
(814) 574-7124
Listed By:
Charles Dawson · License #AB068663
(814) 574-7124
Source:
Evrealestate
Added: Jun 24
Changed: Aug 15
Last Checked: Aug 17 at 4:07AM
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 residential income property features an A-frame dwelling with rental use, a detached garage, driveway, covered exterior area, and crawl space. Interior systems include central air, electric service, a heat pump, and an electric water heater. The property was built in 1969 and is zoned R1.
Located at 159 Lower Grandview Road in State College, Pennsylvania, the property is identified within Centre County. Mountain features are included among the exterior attributes, adding to the setting. The combination of rental functionality, detached parking-related improvements, and established mechanical systems gives the property a practical residential income configuration.
Located at 159 Lower Grandview Road in State College, Pennsylvania, the property is identified within Centre County. Mountain features are included among the exterior attributes, adding to the setting. The combination of rental functionality, detached parking-related improvements, and established mechanical systems gives the property a practical residential income configuration.
Key Highlights
- A‑frame dwelling with rental use
- Detached garage with driveway and covered exterior area
- Central air, heat pump, and electric water heater
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
$19,211
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
4.58%
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%
$384,220
$384.2K
Cap Rate 7%
$274,443
$274.4K
Cap Rate 9%
$213,456
$213.5K
Market Conditions
NOI Build-Up for 2,414 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 $15.36/SF
− Vacancy
−$2.2K −$0.89/SF
EGI
$34.9K $14.47/SF
− OpEx
−$15.7K −$6.51/SF
NOI
$19.2K $7.96/SF
Area
Centre County, PA
Vacancy
5.80%
Lease Rate
$15.36 /SF/Yr
Expense Ratio
45.00%
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%
$384,220
Cap Rate 7%
$274,443
Cap Rate 9%
$213,456
Alternative Uses
Best Use
Apartment 5plus
$274.4K
$240.1K – $320.2K
NOI $19,211 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$533.1K
$466.5K – $622.0K
NOI $37,320 @ 7.0% cap · market cap 8.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
321
Businesses Nearby
Explore this area
Business Placement
Demographics for 16801, PA
42,446
Population
19,242
Households
2.2
Avg Household Size
28
Median Age
67%
College-Educated
98%
High-School Grad
31.1 sq mi
ZIP Area
1,365
Density / Sq Mi
$62,821
Median Household Income
$27,598
Median Earnings
$1,221
Median Rent
$400,400
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - A-frame dwelling with rental use, detached garage, covered driveway, and central air conditioning.
Where is this residential income property located?
The property is located at 159 LOWER GRANDVIEW ROAD State College, PA.
What is the asking price?
The asking price for this property is $419,000.
What are key features of this property?
This property features: A‑frame dwelling with rental use; Detached garage with driveway and covered exterior area; Central air, heat pump, and electric water heater
