Brick Duplex with Off-Street
For Sale
$159,000
301 S Market St, Martinsburg, PA 16662
Two-unit brick property with established tenancy and separate one- and two-bedroom layouts.
Property Size1,808 SF
Price / SF$87.94
Days on Market49
Property Features for 301 S Market St
General Information
Standard status
Active
Size
1,808 SF
Property subtype
Multi-Family
Building Details
Year Built
1890
Listing Agency:
Howard Hanna Bardell Realty Altoona
(814) 944-9377
Listed By:
John Hill Real Estate
(814) 944-9377
Source:
Johnhillhomesearch
Added: Jul 13
Changed: Aug 30
Last Checked: Aug 30 at 1:39PM
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 Howard Hanna Bardell Realty Altoona
Investment Insights
Based on property information with market context.
This brick duplex contains 1,808 square feet across two residential units and was built in 1890. The first-floor residence includes a living room, kitchen, and one bedroom, while the upper unit offers a living room, kitchen, and two bedrooms. Both units are occupied by long-term tenants.
The property sits on a corner lot at 301 S Market St in Martinsburg, Pennsylvania, with off-street parking. The owner covers water, sewer, and trash expenses; tenants are responsible for their own electric service. Showings require a minimum of 24 hours’ notice.
The property sits on a corner lot at 301 S Market St in Martinsburg, Pennsylvania, with off-street parking. The owner covers water, sewer, and trash expenses; tenants are responsible for their own electric service. Showings require a minimum of 24 hours’ notice.
Key Highlights
- 1,808‑square‑foot brick duplex built in 1890
- Two units with one‑bedroom and two‑bedroom layouts
- Long‑term tenants in place
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
$13,943
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
8.77%
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%
$278,860
$278.9K
Cap Rate 7%
$199,186
$199.2K
Cap Rate 9%
$154,922
$154.9K
Market Conditions
NOI Build-Up for 1,808 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
$26.7K $14.76/SF
− Vacancy
−$1.3K −$0.74/SF
EGI
$25.4K $14.02/SF
− OpEx
−$11.4K −$6.31/SF
NOI
$13.9K $7.71/SF
Area
Blair County, PA
Vacancy
5.00%
Lease Rate
$14.76 /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%
$278,860
Cap Rate 7%
$199,186
Cap Rate 9%
$154,922
Alternative Uses
Best Use
Multifamily LT 5
$215.3K
$188.4K – $251.2K
NOI $15,069 @ 7.0% cap · market cap 9.48%
Second Best
Apartment 5plus
$199.2K
$174.3K – $232.4K
NOI $13,943 @ 7.0% cap · market cap 8.77%
Theoretical Best
Warehouse
$2.20M
$1.92M – $2.56M
NOI $153,720 @ 7.0% cap · market cap 96.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
150
Businesses Nearby
Explore this area
Business Placement
Demographics for 16662, PA
5,574
Population
2,338
Households
2.4
Avg Household Size
49
Median Age
21%
College-Educated
90%
High-School Grad
53.8 sq mi
ZIP Area
104
Density / Sq Mi
$70,861
Median Household Income
$41,849
Median Earnings
$855
Median Rent
$212,400
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 - Two-unit brick property with established tenancy and separate one- and two-bedroom layouts.
Where is this duplex located?
The property is located at 301 S Market St Martinsburg, PA.
What is the asking price?
The asking price for this property is $159,000.
What are key features of this property?
This property features: 1,808‑square‑foot brick duplex built in 1890; Two units with one‑bedroom and two‑bedroom layouts; Long‑term tenants in place
