Wooded Acreage
For Sale
$234,900
198 Blue Knob Road, Portage, PA 15946
Residential, Portage, PA
Property Size2,904 SF
Lot Size1.03 Acres
Price / SF$80.89
Days on Market49
Property Features for 198 Blue Knob Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Laundry Room, Bedroom 2, Bedroom 6, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 1, Bathroom 3
Parking features
Driveway, Off Street
Exterior features
Balcony, Lighting, Private Entrance, Private Yard
Fireplace
1
Appliances
Range, Dryer, Oven, Refrigerator, Washer
Lot features
Sloped, Views, Wooded, Year Round Access, Sloped, Views, Wooded, Year Round Access
Elementary school district
Chestnut Ridge
Middle school district
Chestnut Ridge
High school district
Chestnut Ridge
Directions
Take Exit 10 toward Blue Knob State Park/Imler. Follow PA-869 West toward Blue Knob State Park, continuing to follow signs for Blue Knob. Turn onto Blue Knob Road and proceed to 198 Blue Knob Road, Portage, PA 15946. GPS will take you directly to the property.
Subdivision
Pavia Township
Standard status
Active
APN
D2 13E
Size
2,904 SF
Lot size
1.03 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
1057/238
Tax Annual Amount
2162
Legal Description
1057/238
Utilities
Sewer type
Septic Tank
Heating system
Propane (Heating), Wood, Electric (Heating)
Water source
Well
Amenities
covered patio
private second-story deck
Building Details
Year built
1990
Floors in Building
2
Flooring type
Carpet, Vinyl
Building materials
Wood Siding
Roof type
Metal
Architectural style
Other
Listing Agency:
Coldwell Banker Premier · Coldwell Banker Real Estate
(814) 623-7009
Listed By:
Faith Zembower · License #RS351280
(814) 977-6641
Added: Jul 21
Changed: Sep 5
Last Checked: Sep 7 at 10:06PM
MLS# 80743
Copyright © 2026 Allegheny Highland Association of Realtors. 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.
Built in 1990, this 2,904-square-foot duplex contains two distinct apartments. The lower residence has two bedrooms, a full bath, kitchen, living room, and covered patio. Upstairs, the larger apartment provides four bedrooms—including two loft-style rooms—along with two full baths, a kitchen, living area, and private deck. Each unit includes a range, refrigerator, and select furnishings. Wood siding, a metal roof, mixed flooring, fireplaces, and multiple heating sources are among the property’s physical features.
The building occupies 1.03 wooded acres at 198 Blue Knob Road in Portage, Bedford County. Its setting includes views toward the surrounding countryside and mountains, with Blue Knob State Park nearby and Blue Knob All Seasons Resort approximately 2 miles away. The property uses well water and a septic tank, with driveway and off-street parking.
The building occupies 1.03 wooded acres at 198 Blue Knob Road in Portage, Bedford County. Its setting includes views toward the surrounding countryside and mountains, with Blue Knob State Park nearby and Blue Knob All Seasons Resort approximately 2 miles away. The property uses well water and a septic tank, with driveway and off-street parking.
Key Highlights
- 2,904‑square‑foot duplex on 1.03 wooded acres
- Lower apartment includes 2 bedrooms, 1 full bathroom, kitchen, living room, and covered patio
- Upper apartment has 4 bedrooms, including 2 loft‑style rooms, plus 2 full bathrooms
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
8.16%
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 8.16%
Second Best
Apartment 5plus
$254.6K
$222.8K – $297.1K
NOI $17,825 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$876.2K
$766.7K – $1.02M
NOI $61,332 @ 7.0% cap · market cap 26.11%
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 - Two residences offer separate kitchens, living areas, and outdoor spaces in a rural Pennsylvania setting.
Where is this duplex located?
The property is located at 198 Blue Knob Road Portage, PA.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 2,904‑square‑foot duplex on 1.03 wooded acres; Lower apartment includes 2 bedrooms, 1 full bathroom, kitchen, living room, and covered patio; Upper apartment has 4 bedrooms, including 2 loft‑style rooms, plus 2 full bathrooms
