Brick Triplex with Studio
New
For Sale
$284,900
1611 SUSQUEHANNA STREET, Harrisburg, PA 17102
Interior row home with three studio apartments, finished brick construction, and access to local amenities and public transportation.
Property Size1,680 SF
Price / SF$169.58
Days on Market5
Property Features for 1611 SUSQUEHANNA STREET
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Triplex
Units
Unit Mix
3 x studio
Multifamily Units
3
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Construction
solid brick
Listing Agency:
Midtown Property Management
(717) 553-7541
Listed By:
Angela Tatum · License #RS367670
(717) 599-4495
Source:
Cummingsrealtors
Added: Sep 13
Changed: Sep 16
Last Checked: Sep 16 at 1:59PM
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 Midtown Property Management
Investment Insights
Based on property information with market context.
This 1,680-square-foot interior row home contains three studio apartments within a solid brick structure built in 1900. The property provides a compact multifamily configuration suited to residential income use, with three separate studio units contained in one building.
Located at 1611 Susquehanna Street in Harrisburg’s Midtown neighborhood, the property offers access to local amenities and public transportation. Its central urban setting and three-unit layout provide a straightforward arrangement for ownership, leasing, and property management.
Located at 1611 Susquehanna Street in Harrisburg’s Midtown neighborhood, the property offers access to local amenities and public transportation. Its central urban setting and three-unit layout provide a straightforward arrangement for ownership, leasing, and property management.
Key Highlights
- Three studio apartments in one interior row home
- 1,680 finished square feet
- Solid brick construction
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
$14,995
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
5.26%
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%
$299,900
$299.9K
Cap Rate 7%
$214,214
$214.2K
Cap Rate 9%
$166,611
$166.6K
Market Conditions
NOI Build-Up for 1,680 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
$23.2K $13.80/SF
− Vacancy
−$1.8K −$1.05/SF
EGI
$21.4K $12.75/SF
− OpEx
−$6.4K −$3.83/SF
NOI
$15.0K $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%
$299,900
Cap Rate 7%
$214,214
Cap Rate 9%
$166,611
Alternative Uses
Best Use
Multifamily LT 5
$214.2K
$187.4K – $249.9K
NOI $14,995 @ 7.0% cap · market cap 5.26%
Second Best
Apartment 5plus
$190.9K
$167.0K – $222.7K
NOI $13,363 @ 7.0% cap · market cap 4.69%
Theoretical Best
Specialty Retail
$3.09M
$2.71M – $3.61M
NOI $216,594 @ 7.0% cap · market cap 76.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,399
Businesses Nearby
Explore this area
Business Placement
Demographics for 17102, PA
7,989
Population
5,105
Households
1.6
Avg Household Size
37
Median Age
50%
College-Educated
91%
High-School Grad
0.8 sq mi
ZIP Area
9,986
Density / Sq Mi
$55,369
Median Household Income
$47,544
Median Earnings
$1,062
Median Rent
$172,900
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?
Triplex - Interior row home with three studio apartments, finished brick construction, and access to local amenities and public transportation.
Where is this triplex located?
The property is located at 1611 SUSQUEHANNA STREET Harrisburg, PA.
What is the asking price?
The asking price for this property is $284,900.
What are key features of this property?
This property features: Three studio apartments in one interior row home; 1,680 finished square feet; Solid brick construction
