A-Frame Duplex with Garage
For Sale
$419,000
159 LOWER GRANDVIEW Road, State College, PA 16801
MULTI_FAMILY - Other - STATE COLLEGE, PA
Property Size2,414 SF
Lot Size0.71 Acres
Price / SF$173.57
Days on Market55
Property Features for 159 LOWER GRANDVIEW Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
12
Parking features
Driveway, Garage - Detached
High school
STATE COLLEGE AREA
Elementary school district
STATE COLLEGE AREA
Middle school district
STATE COLLEGE AREA
High school district
STATE COLLEGE AREA
Standard status
Active
Size
2,414 SF
Lot size
0.71 Acres
Taxes and HOA fees
Tax Annual Amount
4388
Utilities
Heating system
Electric (Heating), Heat Pump (Heating)
Cooling system
Central Air
Building Details
Year built
1969
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
RE/MAX Centre Realty · RE/MAX International
(814) 231-8200
Listed By:
Charles Dawson · License #AB068663
(814) 574-7124
Added: Jun 16
Changed: Aug 8
Last Checked: Aug 9 at 11:06PM
MLS# PACE2519386
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex property combines an A-frame home with a separate apartment above a detached two-car garage. The main residence includes vaulted ceilings, large windows, two bedrooms in an addition, a bathroom with a step-in shower, and a 35' x 16' unfinished storage room. The crawl space has been insulated and encapsulated. Total property size is 2,414 square feet on 0.71 acres.
The one-bedroom garage apartment has an open kitchen and living area, a large bathroom, walk-in closet, in-unit washer and dryer, and private deck. An active rental permit supports its current apartment use. Outdoor features include a large deck, private yard, and mature trees. The property is located 3 miles from Penn State campus, Beaver Stadium, and downtown State College.
The one-bedroom garage apartment has an open kitchen and living area, a large bathroom, walk-in closet, in-unit washer and dryer, and private deck. An active rental permit supports its current apartment use. Outdoor features include a large deck, private yard, and mature trees. The property is located 3 miles from Penn State campus, Beaver Stadium, and downtown State College.
Key Highlights
- A‑frame home plus a one‑bedroom apartment above a detached two‑car garage
- 2,414 square feet on 0.71 acres
- Apartment has an active rental permit
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
$21,424
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
5.11%
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%
$428,480
$428.5K
Cap Rate 7%
$306,057
$306.1K
Cap Rate 9%
$238,044
$238.0K
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
$32.7K $13.56/SF
− Vacancy
−$2.1K −$0.88/SF
EGI
$30.6K $12.68/SF
− OpEx
−$9.2K −$3.80/SF
NOI
$21.4K $8.88/SF
Area
Centre County, PA
Vacancy
6.50%
Lease Rate
$13.56 /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%
$428,480
Cap Rate 7%
$306,057
Cap Rate 9%
$238,044
Alternative Uses
Best Use
Multifamily LT 5
$306.1K
$267.8K – $357.1K
NOI $21,424 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$274.4K
$240.1K – $320.2K
NOI $19,211 @ 7.0% cap · market cap 4.58%
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - A primary residence and permitted one-bedroom apartment share the property, with detached garage, decks, and private outdoor space.
Where is this duplex 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 home plus a one‑bedroom apartment above a detached two‑car garage; 2,414 square feet on 0.71 acres; Apartment has an active rental permit
