Duplex with Three-Car
For Sale
$189,900
198 HANOVER Street, Northumberland, PA 17857
Multi-Family, Duplex, Northumberland, PA
Property Size1,238 SF
Lot Size0.14 Acres
Price / SF$153.39
Days on Market94
Property Features for 198 HANOVER Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 1, Basement
Basement
Full
Subdivision
0-None
Elementary school district
Shikellamy
Middle school district
Shikellamy
High school district
Shikellamy
Directions
from route 11, Right onto Hanover St, on the corner of Hanover and 2nd streets Northumberland
Standard status
Active
APN
02-037-012-432
Size
1,238 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
1036
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Amenities
deck
Building Details
Year built
1900
Number of units
2
Building materials
Block, Frame
Roof type
Metal
Architectural style
Other
Listing Agency:
SQUARE DIEHL REALTY INC
(570) 286-6344
Listed By:
Wendy K Wiest · License #RS227244L
(570) 847-4773
Added: Jun 18
Changed: Sep 15
Last Checked: Sep 19 at 1:06PM
MLS# C-1619
Copyright © 2026 Central Susquehanna Valley Board 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.
This duplex includes 1,238 square feet of space on a 0.14-acre lot, along with a three-car garage and basement. The property was built in 1900 and features block and frame construction, a metal roof, newer siding, replacement windows, and a Trex deck. Interior improvements include updated plumbing and wiring, new water heaters, and refreshed bathrooms.
Zoned R and served by public water, the property is currently occupied by relatives. Natural-gas hot-water heating supports the building, while the garage and additional site area provide useful supporting space for the residential layout.
Zoned R and served by public water, the property is currently occupied by relatives. Natural-gas hot-water heating supports the building, while the garage and additional site area provide useful supporting space for the residential layout.
Key Highlights
- Duplex with 1,238 square feet of building area
- Three‑car garage plus basement
- 0.14‑acre lot
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
$9,270
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
4.88%
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%
$185,400
$185.4K
Cap Rate 7%
$132,429
$132.4K
Cap Rate 9%
$103,000
$103.0K
Market Conditions
NOI Build-Up for 1,238 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
$14.1K $11.40/SF
− Vacancy
−$871 −$0.70/SF
EGI
$13.2K $10.70/SF
− OpEx
−$4.0K −$3.21/SF
NOI
$9.3K $7.49/SF
Area
Northumberland County, PA
Vacancy
6.17%
Lease Rate
$11.40 /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%
$185,400
Cap Rate 7%
$132,429
Cap Rate 9%
$103,000
Alternative Uses
Best Use
Multifamily LT 5
$132.4K
$115.9K – $154.5K
NOI $9,270 @ 7.0% cap · market cap 4.88%
Second Best
Apartment 5plus
$122.2K
$107.0K – $142.6K
NOI $8,556 @ 7.0% cap · market cap 4.51%
Theoretical Best
Warehouse
$1.51M
$1.32M – $1.76M
NOI $105,447 @ 7.0% cap · market cap 55.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 17857, PA
7,743
Population
3,721
Households
2.1
Avg Household Size
47
Median Age
24%
College-Educated
92%
High-School Grad
26.7 sq mi
ZIP Area
290
Density / Sq Mi
$64,306
Median Household Income
$41,109
Median Earnings
$948
Median Rent
$191,800
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated systems and tenant-ready interiors complement the duplex layout.
Where is this duplex located?
The property is located at 198 HANOVER Street Northumberland, PA.
What is the asking price?
The asking price for this property is $189,900.
What are key features of this property?
This property features: Duplex with 1,238 square feet of building area; Three‑car garage plus basement; 0.14‑acre lot
