Two-Unit Duplex with
New
For Sale
$334,900
214 N COLLEGE Street, Carlisle, PA 17013
Multi-Family, CARLISLE, PA
Property Size2,287 SF
Lot Size0.14 Acres
Price / SF$146.44
Days on Market1
Property Features for 214 N COLLEGE Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement, Dining Room
Parking
3
Parking features
Off Street
Interior features
Additional Stairway, 2nd Kitchen, Attic, Bathroom - Tub Shower, Breakfast Area, Carpet, Ceiling Fan(s), Combination Dining/Living, Entry Level Bedroom, Floor Plan - Traditional, Formal/Separate Dining Room, Kitchen - Eat-In, Kitchen - Country, Stove - Wood
Fireplace
1
Appliances
Built-In Microwave, Dishwasher, Dryer - Electric, Microwave, Oven/Range - Gas, Range Hood, Refrigerator, Washer
High school
CARLISLE AREA
Elementary school district
CARLISLE AREA
Middle school district
CARLISLE AREA
High school district
CARLISLE AREA
Standard status
Active
Size
2,287 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
3650
Utilities
Heating system
Electric (Heating), Baseboard, Hot Water(Heating)
Cooling system
Window Unit(s)
Amenities
fireplace
ceiling fans
porch
deck/balcony
off-street parking
backyard
Building Details
Year built
1900
Number of units
2
Building materials
Vinyl Siding
Architectural style
Other
Listing Agency:
RSR, REALTORS, LLC
(717) 763-1212
Listed By:
JAMIE BERRIER · License #RS220358L
(717) 648-5813
Added: Sep 21
Last Checked: Sep 21 at 8:06PM
MLS# PACB2058340
Copyright © 2026 Bright MLS. 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 2,287-square-foot duplex contains two vertically arranged residences on a 0.14-acre lot. The first-floor unit includes a formal living room, separate dining room, eat-in kitchen, three bedrooms, an updated full bathroom, and a porch adjoining the kitchen. The upper residence features a galley kitchen with a built-in microwave, gas range, refrigerator, breakfast bar, living room with bay windows, bedroom, updated full bathroom, and deck access.
Recent and notable improvements include updated flooring, bathrooms, windows, an electrical panel, a furnace installed in 2014, and a new roof on one portion of the property. Vinyl siding, off-street parking, a level backyard, a fireplace, ceiling fans, and window-unit cooling add to the physical features. Located at 214 N College Street in Carlisle, the property is near Dickinson College, downtown Carlisle, parks, schools, and sidewalks.
Recent and notable improvements include updated flooring, bathrooms, windows, an electrical panel, a furnace installed in 2014, and a new roof on one portion of the property. Vinyl siding, off-street parking, a level backyard, a fireplace, ceiling fans, and window-unit cooling add to the physical features. Located at 214 N College Street in Carlisle, the property is near Dickinson College, downtown Carlisle, parks, schools, and sidewalks.
Key Highlights
- Two‑unit duplex with 2,287 square feet of building area
- 0.14‑acre lot with a large level backyard
- First‑floor unit includes three bedrooms and an eat‑in kitchen
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
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
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Frequently Asked Questions
What type of property is this?
Duplex - Updated two-unit dwelling with off-street parking, outdoor space, and separate kitchens in a walkable Carlisle neighborhood.
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 of building area; 0.14‑acre lot with a large level backyard; First‑floor unit includes three bedrooms and an eat‑in kitchen
