Two-Unit Duplex with Off-Street
New
For Sale
$334,900
214 N COLLEGE STREET, Carlisle, PA 17013
Updated interiors, outdoor space, and a level backyard support the property’s two-unit residential configuration.
Property Size2,287 SF
Lot Size0.14 Acres
Price / SF$146.44
Days on Market3
Property Features for 214 N COLLEGE STREET
General Information
Standard status
Active
Size
2,287 SF
Lot size
0.14 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
fireplace
ceiling fans
deck/balcony
porch
off-street parking
Building Details
Year Built
1900
Buildings
1
Listing Agency:
RSR, REALTORS, LLC
(717) 763-1212
Listed By:
JAMIE BERRIER
(717) 648-5813
Source:
Cummingsrealtors
Added: Sep 21
Changed: Sep 23
Last Checked: Sep 22 at 1:58PM
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 RSR, REALTORS, LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,287 square feet on a 0.14-acre lot. The first-floor residence includes three bedrooms, a formal living room, dining room, eat-in kitchen, updated full bathroom, fireplace with mantel, and a porch. The second-floor unit offers a galley kitchen with built-in microwave, range, bar, and refrigerator, along with a living room, bedroom, full bathroom, and access to a deck or balcony. Updated flooring, bathrooms, windows, and electrical service complement a furnace installed in 2014.
Exterior features include vinyl siding, off-street parking, sidewalks, and a large level backyard. The property is located at 214 N College Street in Carlisle, near Dickinson College, downtown Carlisle, parks, and schools. The building was constructed in 1900.
Exterior features include vinyl siding, off-street parking, sidewalks, and a large level backyard. The property is located at 214 N College Street in Carlisle, near Dickinson College, downtown Carlisle, parks, and schools. The building was constructed in 1900.
Key Highlights
- Two‑unit duplex with 2,287 square feet
- 0.14‑acre lot with large level backyard
- First‑floor unit includes three bedrooms and a porch
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
$21,760
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
6.50%
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%
$435,200
$435.2K
Cap Rate 7%
$310,857
$310.9K
Cap Rate 9%
$241,778
$241.8K
Market Conditions
NOI Build-Up for 2,287 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
$32.9K $14.40/SF
− Vacancy
−$1.8K −$0.81/SF
EGI
$31.1K $13.59/SF
− OpEx
−$9.3K −$4.08/SF
NOI
$21.8K $9.51/SF
Area
Cumberland County, PA
Vacancy
5.61%
Lease Rate
$14.40 /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%
$435,200
Cap Rate 7%
$310,857
Cap Rate 9%
$241,778
Alternative Uses
Best Use
Multifamily LT 5
$310.9K
$272.0K – $362.7K
NOI $21,760 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$276.0K
$241.5K – $322.0K
NOI $19,317 @ 7.0% cap · market cap 5.77%
Theoretical Best
Office A
$531.3K
$464.9K – $619.8K
NOI $37,188 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,217
Businesses Nearby
Explore this area
Business Placement
Demographics for 17013, PA
36,578
Population
16,065
Households
2.3
Avg Household Size
39
Median Age
34%
College-Educated
93%
High-School Grad
39.2 sq mi
ZIP Area
933
Density / Sq Mi
$68,150
Median Household Income
$36,336
Median Earnings
$1,018
Median Rent
$221,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Updated interiors, outdoor space, and a level backyard support the property’s two-unit residential configuration.
Where is this duplex located?
The property is located at 214 N COLLEGE STREET Carlisle, PA.
What is the asking price?
The asking price for this property is $334,900.
What are key features of this property?
This property features: Two‑unit duplex with 2,287 square feet; 0.14‑acre lot with large level backyard; First‑floor unit includes three bedrooms and a porch
