Two-Unit Duplex with Covered
For Sale
$229,000
224 E BISHOP STREET, Bellefonte, PA 16823
Up/down duplex features two covered exterior living areas, separate unit layouts, and a newer roof from 2019.
Property Size1,704 SF
Days on Market137
Property Features for 224 E BISHOP STREET
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,698
Building Details
Building Size
1,704 SF
Year Built
1890
Tenancy
Multi
Listing Agency:
Kissinger, Bigatel & Brower
Listed By:
Jennifer Glantz · License #RS306822
(814) 360-7799
Source:
Nelsonrealtypa
Added: Jun 9
Changed: Oct 21
Last Checked: Oct 21 at 2:49AM
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 Kissinger, Bigatel & Brower
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Investment Insights
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This up/down duplex includes two residential units with distinct living spaces. The main-floor unit offers a spacious living room, eat-in kitchen, one bedroom, one full bathroom, and a covered patio. The second-floor unit has a private interior staircase, a light-filled living room, eat-in kitchen, two bedrooms, and one full bathroom, along with a covered porch. Hardwood floors are throughout, and a metal roof is noted. The property also includes a basement with washer and dryer, along with a newer roof (2019) and newer electrical service entry and panels (2021). Brick exterior construction is also described.
The property is located in the heart of downtown Bellefonte, with access to nearby local amenities including Masulla Park, Talleyrand Park, The Match Factory, Spring Creek, and Bellefonte shopping and dining, all described as minutes away.
Offered for sale as a duplex, the building provides separate unit configurations with covered front/outdoor areas for both levels.
The property is located in the heart of downtown Bellefonte, with access to nearby local amenities including Masulla Park, Talleyrand Park, The Match Factory, Spring Creek, and Bellefonte shopping and dining, all described as minutes away.
Offered for sale as a duplex, the building provides separate unit configurations with covered front/outdoor areas for both levels.
Key Highlights
- Up/down duplex with two separate unit layouts and private interior staircase for the second‑floor unit
- Two covered exterior living areas: large covered front porch and covered patio/porch
- Year built 1890 with wood floors and hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,123
Cap Rate
6.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,460
$302.5K
Cap Rate 7%
$216,043
$216.0K
Cap Rate 9%
$168,033
$168.0K
Market Conditions
NOI Build-Up for 1,704 SF
Gross rent
$23.1K $13.56/SF
− Vacancy
−$1.5K −$0.88/SF
EGI
$21.6K $12.68/SF
− OpEx
−$6.5K −$3.80/SF
NOI
$15.1K $8.88/SF
Area
Centre County, PA
Vacancy
6.50%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$302,460
Cap Rate 7%
$216,043
Cap Rate 9%
$168,033
Alternative Uses
Best Use
Multifamily LT 5
$216.0K
$189.0K – $252.1K
NOI $15,123 @ 7.0% cap · market cap 6.60%
Second Best
Apartment 5plus
$193.7K
$169.5K – $226.0K
NOI $13,560 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$376.3K
$329.3K – $439.1K
NOI $26,344 @ 7.0% cap · market cap 11.50%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
684
Businesses Nearby
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Business Placement
Demographics for 16823, PA
29,345
Population
11,679
Households
2.5
Avg Household Size
42
Median Age
29%
College-Educated
92%
High-School Grad
124.3 sq mi
ZIP Area
236
Density / Sq Mi
$75,717
Median Household Income
$41,842
Median Earnings
$1,013
Median Rent
$258,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Up/down duplex features two covered exterior living areas, separate unit layouts, and a newer roof from 2019.
Where is this duplex located?
The property is located at 224 E BISHOP STREET Bellefonte, PA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Up/down duplex with two separate unit layouts and private interior staircase for the second‑floor unit; Two covered exterior living areas: large covered front porch and covered patio/porch; Year built 1890 with wood floors and hardwood floors
