Updated Two-Unit
New
For Sale
$279,900
221 7TH Street, New Cumberland, PA 17070
Two-story duplex with remodeled first-floor living space and updated exterior systems.
Property Size1,792 SF
Price / SF$156.19
Days on Market2
Property Features for 221 7TH Street
General Information
Standard status
Active
Size
1,792 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
porch
off-street parking
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Iron Valley Real Estate of Central PA
Listed By:
Stephen Johansen · License #3232425
Source:
Yorkhomes
Added: Sep 15
Last Checked: Sep 15 at 4:46AM
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 Iron Valley Real Estate of Central PA
Investment Insights
Based on property information with market context.
This 1,792-square-foot duplex, built in 1900, contains two apartments with distinct living areas. The first-floor unit has been remodeled with new flooring, an updated kitchen and bath, and fresh paint. The upper apartment is a 2/3-bedroom layout with additional updates. Both units feature full bathrooms, and the property includes off-street parking, a front porch, vinyl siding, and replacement windows.
Major improvements include a new roof installed in 2025, a rebuilt front porch and posts, updated electrical and plumbing systems, and high-efficiency gas cooking equipment. The upstairs apartment is occupied by a long-term tenant under a current lease. Tenants pay their own electric and heat, while the landlord covers water, sewer, and trash.
Major improvements include a new roof installed in 2025, a rebuilt front porch and posts, updated electrical and plumbing systems, and high-efficiency gas cooking equipment. The upstairs apartment is occupied by a long-term tenant under a current lease. Tenants pay their own electric and heat, while the landlord covers water, sewer, and trash.
Key Highlights
- 1,792‑square‑foot duplex with two apartments
- New roof installed in 2025
- First‑floor apartment remodeled with new flooring, kitchen, bath, and paint
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
$17,050
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
6.09%
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%
$341,000
$341.0K
Cap Rate 7%
$243,571
$243.6K
Cap Rate 9%
$189,444
$189.4K
Market Conditions
NOI Build-Up for 1,792 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
$25.8K $14.40/SF
− Vacancy
−$1.4K −$0.81/SF
EGI
$24.4K $13.59/SF
− OpEx
−$7.3K −$4.08/SF
NOI
$17.1K $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%
$341,000
Cap Rate 7%
$243,571
Cap Rate 9%
$189,444
Alternative Uses
Best Use
Multifamily LT 5
$243.6K
$213.1K – $284.2K
NOI $17,050 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$216.2K
$189.2K – $252.3K
NOI $15,136 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$416.3K
$364.2K – $485.7K
NOI $29,139 @ 7.0% cap · market cap 10.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
555
Businesses Nearby
Explore this area
Business Placement
Demographics for 17070, PA
16,359
Population
7,487
Households
2.2
Avg Household Size
43
Median Age
36%
College-Educated
94%
High-School Grad
14.6 sq mi
ZIP Area
1,120
Density / Sq Mi
$91,100
Median Household Income
$52,207
Median Earnings
$1,046
Median Rent
$240,200
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 - Two-story duplex with remodeled first-floor living space and updated exterior systems.
Where is this duplex located?
The property is located at 221 7TH Street New Cumberland, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,792‑square‑foot duplex with two apartments; New roof installed in 2025; First‑floor apartment remodeled with new flooring, kitchen, bath, and paint
