Separately Metered
For Sale
$195,000
31 & 33 N PENN Street, Shippensburg, PA 17257
Multi-Family, SHIPPENSBURG, PA
Property Size2,040 SF
Lot Size0.04 Acres
Price / SF$95.59
Days on Market16
Property Features for 31 & 33 N PENN Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
High school
SHIPPENSBURG AREA
Elementary school district
SHIPPENSBURG AREA
Middle school district
SHIPPENSBURG AREA
High school district
SHIPPENSBURG AREA
Standard status
Active
Size
2,040 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2193
Utilities
Heating system
Electric (Heating), Baseboard
Building Details
Year built
1800
Number of units
2
Building materials
Combination
Architectural style
Other
Listing Agency:
Realty One Group Golden Key
(717) 300-3191
Listed By:
Victoria Dennis · License #RB069656
(814) 644-3708
Added: Oct 6
Changed: Oct 21
Last Checked: Oct 21 at 6:06PM
MLS# PACB2059172
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.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This duplex contains two side-by-side residences, each configured with 2 bedrooms and 1 bathroom. The building totals 2,040 square feet on a 0.04-acre lot and dates to 1800. Both units have separate gas and electric meters, and heating is electric baseboard. A basement is also noted.
The landlord pays a borough bill covering water, sewer, and trash, issued every three months.
The landlord pays a borough bill covering water, sewer, and trash, issued every three months.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 2,040‑square‑foot building on a 0.04‑acre lot
- Separate gas and electric meters for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,231
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$344,620
$344.6K
Cap Rate 7%
$246,157
$246.2K
Cap Rate 9%
$191,456
$191.5K
Market Conditions
NOI Build-Up for 2,040 SF
Gross rent
$33.3K $16.32/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$31.3K $15.36/SF
− OpEx
−$14.1K −$6.91/SF
NOI
$17.2K $8.45/SF
Area
Cumberland County, PA
Vacancy
5.90%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$344,620
Cap Rate 7%
$246,157
Cap Rate 9%
$191,456
Alternative Uses
Best Use
Multifamily LT 5
$277.3K
$242.6K – $323.5K
NOI $19,410 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$246.2K
$215.4K – $287.2K
NOI $17,231 @ 7.0% cap · market cap 8.84%
Theoretical Best
Office A
$473.9K
$414.6K – $552.9K
NOI $33,171 @ 7.0% cap · market cap 17.01%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 17257, PA
28,673
Population
11,528
Households
2.5
Avg Household Size
34
Median Age
23%
College-Educated
88%
High-School Grad
115.2 sq mi
ZIP Area
249
Density / Sq Mi
$71,504
Median Household Income
$37,061
Median Earnings
$1,058
Median Rent
$219,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms and one bathroom, with gas and electric service metered separately.
Where is this duplex located?
The property is located at 31 & 33 N PENN Street Shippensburg, PA.
What is the asking price?
The asking price for this property is $195,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 2,040‑square‑foot building on a 0.04‑acre lot; Separate gas and electric meters for each unit
