Over-Under
For Sale
$179,000
275 S HARRISON AVENUE, Chambersburg, PA 17201
Two-level duplex with separately metered heat and electric and on-street parking.
Property Size1,736 SF
Price / SF$103.11
Days on Market10
Property Features for 275 S HARRISON AVENUE
General Information
Standard status
Active
Size
1,736 SF
Property subtype
Duplex
Building Details
Year Built
1950
Listing Agency:
RE/MAX 1st Advantage
(717) 591-5555
Listed By:
Thomas B Mongold · License #RS216175L
(717) 729-6290
Source:
Cummingsrealtors
Added: Sep 3
Changed: Sep 11
Last Checked: Sep 11 at 6:50AM
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 RE/MAX 1st Advantage
Investment Insights
Based on property information with market context.
This duplex at 275 S Harrison Avenue in Chambersburg, PA, is configured with one residence above the other. The property contains 1,736 square feet and was built in 1950. Heat and electric are separated between the units, supporting distinct utility allocation. Parking is provided on the street.
Key Highlights
- Over‑under duplex configuration
- 1,736 square feet of property size
- Heat and electric are separated
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
$15,591
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
8.71%
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%
$311,820
$311.8K
Cap Rate 7%
$222,729
$222.7K
Cap Rate 9%
$173,233
$173.2K
Market Conditions
NOI Build-Up for 1,736 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
$30.4K $17.52/SF
− Vacancy
−$2.1K −$1.19/SF
EGI
$28.3K $16.33/SF
− OpEx
−$12.8K −$7.35/SF
NOI
$15.6K $8.98/SF
Area
Franklin County, PA
Vacancy
6.80%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
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%
$311,820
Cap Rate 7%
$222,729
Cap Rate 9%
$173,233
Alternative Uses
Best Use
Multifamily LT 5
$246.7K
$215.8K – $287.8K
NOI $17,266 @ 7.0% cap · market cap 9.65%
Second Best
Apartment 5plus
$222.7K
$194.9K – $259.9K
NOI $15,591 @ 7.0% cap · market cap 8.71%
Theoretical Best
Office A
$420.9K
$368.3K – $491.1K
NOI $29,465 @ 7.0% cap · market cap 16.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
Explore this area
Business Placement
Demographics for 17201, PA
27,556
Population
12,749
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
91%
High-School Grad
19.1 sq mi
ZIP Area
1,443
Density / Sq Mi
$59,645
Median Household Income
$42,500
Median Earnings
$1,109
Median Rent
$206,800
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?
Duplex - Two-level duplex with separately metered heat and electric and on-street parking.
Where is this duplex located?
The property is located at 275 S HARRISON AVENUE Chambersburg, PA.
What is the asking price?
The asking price for this property is $179,000.
What are key features of this property?
This property features: Over‑under duplex configuration; 1,736 square feet of property size; Heat and electric are separated
