Two-Unit Duplex with
For Sale
$230,000
1942 NORTH ST, Harrisburg, PA 17103
Separate entrances and month-to-month occupancy support owner-occupant or rental use.
Property Size1,968 SF
Price / SF$116.87
Days on Market51
Property Features for 1942 NORTH ST
General Information
Standard status
Active
Size
1,968 SF
Property subtype
Multi-family
Units
Unit Mix
1 x 2BR, 1 x 4BR/1BA
Multifamily Units
2
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 245-2100
Listed By:
HEATHER ANN NEIDLINGER · License #AB066821
(717) 226-2875
Source:
Towncentermd
Added: Jul 15
Changed: Sep 2
Last Checked: Sep 2 at 3:55AM
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.
Located at 1942 North St in Harrisburg, this 1,968-square-foot duplex contains two residential units with separate entrances. The first-floor residence offers two bedrooms, while the second-floor unit includes four bedrooms and one full bathroom. Both units have functional layouts, and tenancy is structured on a month-to-month basis.
A garage is included with the property and is currently vacant. Residents pay their own electric and gas service, providing separate utility responsibility for each household. The two-unit configuration and distinct entrances accommodate rental operations or multi-generational living.
A garage is included with the property and is currently vacant. Residents pay their own electric and gas service, providing separate utility responsibility for each household. The two-unit configuration and distinct entrances accommodate rental operations or multi-generational living.
Key Highlights
- 1,968‑square‑foot duplex with two residential units
- First‑floor unit includes 2 bedrooms
- Second‑floor unit includes 4 bedrooms and 1 full bathroom
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
$17,566
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
7.64%
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%
$351,320
$351.3K
Cap Rate 7%
$250,943
$250.9K
Cap Rate 9%
$195,178
$195.2K
Market Conditions
NOI Build-Up for 1,968 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
$27.2K $13.80/SF
− Vacancy
−$2.1K −$1.05/SF
EGI
$25.1K $12.75/SF
− OpEx
−$7.5K −$3.83/SF
NOI
$17.6K $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%
$351,320
Cap Rate 7%
$250,943
Cap Rate 9%
$195,178
Alternative Uses
Best Use
Multifamily LT 5
$250.9K
$219.6K – $292.8K
NOI $17,566 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$223.6K
$195.7K – $260.9K
NOI $15,654 @ 7.0% cap · market cap 6.81%
Theoretical Best
Specialty Retail
$3.62M
$3.17M – $4.23M
NOI $253,724 @ 7.0% cap · market cap 110.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Explore this area
Business Placement
Demographics for 17103, PA
12,225
Population
5,345
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
6,434
Density / Sq Mi
$41,383
Median Household Income
$33,608
Median Earnings
$933
Median Rent
$113,100
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Separate entrances and month-to-month occupancy support owner-occupant or rental use.
Where is this duplex located?
The property is located at 1942 NORTH ST Harrisburg, PA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 1,968‑square‑foot duplex with two residential units; First‑floor unit includes 2 bedrooms; Second‑floor unit includes 4 bedrooms and 1 full bathroom
