Two-Unit Property with Wooded
For Sale
$240,000
198 Blue Knob Rd, Portage, PA 15946
Separate apartments offer flexible residential income and multigenerational living arrangements.
Property Size2,904 SF
Lot Size1.03 Acres
Price / SF$82.64
Days on Market40
Property Features for 198 Blue Knob Rd
General Information
Standard status
Active
Size
2,904 SF
Lot size
1.03 Acres
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 4BR/2BA
Multifamily Units
2
Additional Details
Furnished
Yes
Amenities
covered patio
deck
Building Details
Year Built
1990
Listing Agency:
Howard Hanna Bardell Realty Altoona
(814) 944-9377
Listed By:
John Hill Real Estate
(814) 944-9377
Source:
Johnhillhomesearch
Added: Jul 23
Changed: Aug 29
Last Checked: Aug 30 at 4:29PM
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 Howard Hanna Bardell Realty Altoona
Investment Insights
Based on property information with market context.
This duplex contains two distinct apartments within a 2,904-square-foot property built in 1990. The lower residence has two bedrooms, one full bathroom, a kitchen, living room, and a covered patio positioned beneath the upper deck. The second-floor residence includes four bedrooms, including two loft-style rooms, two full bathrooms, a kitchen, living area, and a private deck.
The property occupies 1.03 wooded acres at 198 Blue Knob Rd in Portage, Pennsylvania, with countryside views and mature trees surrounding the residences. Each apartment includes a stove, refrigerator, and some furniture, providing established household features for both units.
The property occupies 1.03 wooded acres at 198 Blue Knob Rd in Portage, Pennsylvania, with countryside views and mature trees surrounding the residences. Each apartment includes a stove, refrigerator, and some furniture, providing established household features for both units.
Key Highlights
- Duplex with 2,904 square feet, built in 1990
- Set on 1.03 wooded acres with countryside views
- Lower apartment includes 2 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
$19,179
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
7.99%
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%
$383,580
$383.6K
Cap Rate 7%
$273,986
$274.0K
Cap Rate 9%
$213,100
$213.1K
Market Conditions
NOI Build-Up for 2,904 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
$29.6K $10.20/SF
− Vacancy
−$2.2K −$0.77/SF
EGI
$27.4K $9.44/SF
− OpEx
−$8.2K −$2.83/SF
NOI
$19.2K $6.60/SF
Area
Cambria County, PA
Vacancy
7.50%
Lease Rate
$10.20 /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%
$383,580
Cap Rate 7%
$273,986
Cap Rate 9%
$213,100
Alternative Uses
Best Use
Multifamily LT 5
$274.0K
$239.7K – $319.7K
NOI $19,179 @ 7.0% cap · market cap 7.99%
Second Best
Apartment 5plus
$254.6K
$222.8K – $297.1K
NOI $17,825 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$876.2K
$766.7K – $1.02M
NOI $61,332 @ 7.0% cap · market cap 25.56%
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
5
Businesses Nearby
Explore this area
Business Placement
Demographics for 15946, PA
6,642
Population
3,222
Households
2.1
Avg Household Size
47
Median Age
21%
College-Educated
91%
High-School Grad
48.8 sq mi
ZIP Area
136
Density / Sq Mi
$56,602
Median Household Income
$42,652
Median Earnings
$635
Median Rent
$116,100
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 apartments offer flexible residential income and multigenerational living arrangements.
Where is this duplex located?
The property is located at 198 Blue Knob Rd Portage, PA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Duplex with 2,904 square feet, built in 1990; Set on 1.03 wooded acres with countryside views; Lower apartment includes 2 bedrooms and 1 full bathroom
