Over-Under
New
For Sale
$179,000
275 S HARRISON Avenue, Chambersburg, PA 17201
Multi-Family, CHAMBERSBURG, PA
Property Size1,736 SF
Lot Size0.06 Acres
Price / SF$103.11
Days on Market2
Property Features for 275 S HARRISON Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Elementary school district
CHAMBERSBURG AREA
Middle school district
CHAMBERSBURG AREA
High school district
CHAMBERSBURG AREA
Standard status
Active
Size
1,736 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
744
Utilities
Heating system
Forced Air
Building Details
Year built
1950
Number of units
2
Building materials
Vinyl Siding
Architectural style
Colonial
Listing Agency:
RE/MAX 1st Advantage · RE/MAX International
(717) 591-5555
Listed By:
Thomas B Mongold · License #RS216175L
(717) 729-6290
Added: Sep 3
Last Checked: Sep 4 at 3:06PM
MLS# PAFL2037468
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 Colonial-style duplex contains 1,736 square feet and is arranged in an over-under configuration. The property was built in 1950 and features vinyl siding, forced-air heating, and two-bedroom residential space.
Heat and electric are separated between the units, while parking is provided on the street. The 0.06-acre property is located at 275 S Harrison Avenue in Chambersburg, Pennsylvania.
Heat and electric are separated between the units, while parking is provided on the street. The 0.06-acre property is located at 275 S Harrison Avenue in Chambersburg, Pennsylvania.
Key Highlights
- Over‑under duplex with two‑bedroom residential space
- 1,736 square feet on a 0.06‑acre lot
- 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
Property Profile
Current Use
Lease Details
2
Residential units
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
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 - Colonial 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 with two‑bedroom residential space; 1,736 square feet on a 0.06‑acre lot; Heat and electric are separated
