4-Unit Brick
New
For Sale
$350,000
215 WOODBINE Street, Harrisburg, PA 17110
Multi-Family, HARRISBURG, PA
Property Size2,678 SF
Lot Size0.07 Acres
Price / SF$130.69
Days on Market2
Property Features for 215 WOODBINE Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Rooms
Basement
Parking features
On Street
High school
HARRISBURG HIGH SCHOOL
Elementary school district
HARRISBURG CITY
Middle school district
HARRISBURG CITY
High school district
HARRISBURG CITY
Standard status
Active
Size
2,678 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3773
Utilities
Heating system
Hot Water(Heating), Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Amenities
full basement
three covered porches
balcony
Building Details
Year built
1910
Number of units
4
Building materials
Brick
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 657-8700
Listed By:
DARIUS RAMSEY · License #RS292802
(717) 903-7008
Added: Sep 25
Last Checked: Sep 26 at 9:06PM
MLS# PADA2064124
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 brick, end-of-row residential property in Harrisburg contains four one-bedroom apartments and four full bathrooms. Built in 1910, the building spans 2,678 square feet over two stories, with a finished attic and full basement. Three covered porches and a balcony add outdoor space. Electric service is metered individually for each unit; natural gas heat runs through a single building meter and is currently paid by the owner.
Three apartments are occupied, and the remaining unit is vacant. Two tenancies are month-to-month, while another lease runs through September 2027. The property is professionally managed, with on-street parking.
Three apartments are occupied, and the remaining unit is vacant. Two tenancies are month-to-month, while another lease runs through September 2027. The property is professionally managed, with on-street parking.
Key Highlights
- Four one‑bedroom apartments, each with a full bathroom
- 2,678 square feet on a 0.07‑acre parcel
- Three of four units occupied; one unit is vacant
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
$23,903
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
6.83%
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%
$478,060
$478.1K
Cap Rate 7%
$341,471
$341.5K
Cap Rate 9%
$265,589
$265.6K
Market Conditions
NOI Build-Up for 2,678 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
$37.0K $13.80/SF
− Vacancy
−$2.8K −$1.05/SF
EGI
$34.1K $12.75/SF
− OpEx
−$10.2K −$3.83/SF
NOI
$23.9K $8.93/SF
Area
Dauphin County, PA
Vacancy
7.60%
Lease Rate
$13.80 /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%
$478,060
Cap Rate 7%
$341,471
Cap Rate 9%
$265,589
Alternative Uses
Best Use
Multifamily LT 5
$341.5K
$298.8K – $398.4K
NOI $23,903 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$304.3K
$266.3K – $355.0K
NOI $21,302 @ 7.0% cap · market cap 6.09%
Theoretical Best
Specialty Retail
$4.93M
$4.32M – $5.75M
NOI $345,261 @ 7.0% cap · market cap 98.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,172
Businesses Nearby
Explore this area
Business Placement
Demographics for 17110, PA
27,239
Population
12,246
Households
2.2
Avg Household Size
40
Median Age
41%
College-Educated
93%
High-School Grad
14.9 sq mi
ZIP Area
1,828
Density / Sq Mi
$79,499
Median Household Income
$51,428
Median Earnings
$1,400
Median Rent
$206,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Separate electric meters serve each apartment, while the building’s natural gas heating uses a common meter.
Where is this quadplex located?
The property is located at 215 WOODBINE Street Harrisburg, PA.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Four one‑bedroom apartments, each with a full bathroom; 2,678 square feet on a 0.07‑acre parcel; Three of four units occupied; one unit is vacant
