Building Details

Year Built 1860

Buildings 1

Construction Victorian

Listing Agency: Coldwell Banker Realty c***@coldwellbankermoves.com Show Phone

Listed By: JIM BEDORF · License #RS282482 Show Phone

Source: Cummingsrealtors

Added: Aug 16 Changed: Oct 6 Last Checked: Oct 5 at 6:45PM

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Investment Insights

Based on property information with market context.

Built in 1860, this 4,200-square-foot Victorian duplex combines a four-bedroom primary residence with a separate efficiency apartment. The apartment has its own entrance, providing distinct space within the property’s configuration. Historic details include high ceilings and oversized windows, while the home has been maintained with its original character in mind.

The property is located at 181 Main Street in Julian, Pennsylvania, between State College and Bellefonte. Penn State University and Beaver Stadium are approximately 16 minutes away, placing the property near university events, dining, shopping, and recreation. An in-ground swimming pool adds a substantial outdoor amenity for resident or guest use.

Key Highlights

• 4,200‑square‑foot Victorian duplex built in 1860
• Four‑bedroom main residence with separate efficiency apartment
• Efficiency apartment includes its own entrance

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,424

Cap Rate

8.36%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$668,480 $668.5K

Cap Rate 7%

$477,486 $477.5K

Cap Rate 9%

$371,378 $371.4K

Market Conditions

NOI Build-Up for 4,200 SF

Gross rent

$64.5K $15.36/SF

− Vacancy

−$3.7K −$0.89/SF

EGI

$60.8K $14.47/SF

− OpEx

−$27.3K −$6.51/SF

NOI

$33.4K $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 Rate 5%

$668,480

Cap Rate 7%

$477,486

Cap Rate 9%

$371,378

Alternative Uses

Best Use

Multifamily LT 5

$532.5K

$465.9K – $621.3K (±1% cap)

NOI $37,275 @ 7.0% cap · market cap 9.32%

Second Best

Apartment 5plus

$477.5K

$417.8K – $557.1K (±1% cap)

NOI $33,424 @ 7.0% cap · market cap 8.36%

Theoretical Best

Office A

$927.6K

$811.6K – $1.08M (±1% cap)

NOI $64,931 @ 7.0% cap · market cap 16.24%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Auto Repair Shop

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

Location Intelligence

Trade Area within ½ mile

22

Businesses Nearby

Explore this area Business Placement

Demographics for 16844, PA

2,644

Population

1,106

Households

2.4

Avg Household Size

46

Median Age

22%

College-Educated

95%

High-School Grad

62.0 sq mi

ZIP Area

43

Density / Sq Mi

$78,824

Median Household Income

$43,011

Median Earnings

$913

Median Rent

$222,300

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

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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 - Historic duplex includes a private efficiency apartment and in-ground pool.

Where is this duplex located?

The property is located at 181 MAIN STREET Julian, PA.

What is the asking price?

The asking price for this property is $399,900.

What are key features of this property?

This property features: 4,200‑square‑foot Victorian duplex built in 1860; Four‑bedroom main residence with separate efficiency apartment; Efficiency apartment includes its own entrance