Two-Unit
New
For Sale
$195,000
31 N PENN STREET, Shippensburg, PA 17257
Both residences are leased and provide two bedrooms and one bathroom apiece.
Property Size2,040 SF
Price / SF$95.59
Days on Market4
Property Features for 31 N PENN STREET
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Building Details
Year Built
1800
Listing Agency:
Realty One Group Golden Key
(717) 300-3191
Listed By:
Victoria Dennis · License #RB069656
(814) 644-3708
Source:
Cummingsrealtors
Added: Oct 5
Changed: Oct 7
Last Checked: Oct 7 at 1:40PM
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 Realty One Group Golden Key
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two residences, each configured with two bedrooms and one bathroom. The property totals 2,040 square feet and was built in 1800. Both units are currently leased, providing an established rental arrangement for the next owner.
Located at 31 N Penn Street in Shippensburg, Pennsylvania, the property is identified by its address and municipality.
Located at 31 N Penn Street in Shippensburg, Pennsylvania, the property is identified by its address and municipality.
Key Highlights
- Two side‑by‑side units, each with 2 bedrooms and 1 bathroom
- Both units are currently leased
- 2,040 square feet
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
594
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
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are leased and provide two bedrooms and one bathroom apiece.
Where is this duplex located?
The property is located at 31 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 side‑by‑side units, each with 2 bedrooms and 1 bathroom; Both units are currently leased; 2,040 square feet
