Brick Two-Unit
New
For Sale
$210,000
3118 DERRY STREET, Harrisburg, PA 17111
Each apartment includes kitchen appliances and in-unit laundry equipment.
Property Size1,324 SF
Price / SF$158.61
Days on Market3
Property Features for 3118 DERRY STREET
General Information
Standard status
Active
Size
1,324 SF
Property subtype
Duplex
Zoning
TN
Units
Unit Mix
1 x 2BR, 1 x 1BR
Multifamily Units
2
Building Details
Year Built
1922
Buildings
1
Construction
brick
Listing Agency:
Coldwell Banker Realty
(717) 503-7742
Listed By:
Yun Guhl
(717) 503-7742
Source:
Cummingsrealtors
Added: Aug 9
Changed: Aug 11
Last Checked: Aug 11 at 6:29AM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1922 brick duplex contains two apartments, with a two-bedroom unit on the first floor and a one-bedroom unit above. The property includes stoves, refrigerators, microwaves, washers, and dryers for both apartments, along with a dehumidifier and lawn mower. The building is configured for separate residential occupancy and is zoned TN.
Recent property updates include a roof replacement in 2019, a natural gas boiler installed for the first-floor unit in 2018, and electric baseboard heat added for the second floor in 2023. Vinyl laminate plank flooring was installed during 2022-23, and attic insulation was added in 2018. The property is located at 3118 Derry Street in Harrisburg, Pennsylvania.
Recent property updates include a roof replacement in 2019, a natural gas boiler installed for the first-floor unit in 2018, and electric baseboard heat added for the second floor in 2023. Vinyl laminate plank flooring was installed during 2022-23, and attic insulation was added in 2018. The property is located at 3118 Derry Street in Harrisburg, Pennsylvania.
Key Highlights
- Two‑unit duplex with one 2‑bedroom apartment and one 1‑bedroom apartment
- 1,324‑square‑foot brick property built in 1922
- Roof replaced in 2019
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
$11,818
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
5.63%
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%
$236,360
$236.4K
Cap Rate 7%
$168,829
$168.8K
Cap Rate 9%
$131,311
$131.3K
Market Conditions
NOI Build-Up for 1,324 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
$18.3K $13.80/SF
− Vacancy
−$1.4K −$1.05/SF
EGI
$16.9K $12.75/SF
− OpEx
−$5.1K −$3.83/SF
NOI
$11.8K $8.93/SF
Area
Dauphin County, PA
Vacancy
7.60%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
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%
$236,360
Cap Rate 7%
$168,829
Cap Rate 9%
$131,311
Alternative Uses
Best Use
Multifamily LT 5
$168.8K
$147.7K – $197.0K
NOI $11,818 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$150.5K
$131.7K – $175.5K
NOI $10,532 @ 7.0% cap · market cap 5.02%
Theoretical Best
Specialty Retail
$2.44M
$2.13M – $2.84M
NOI $170,697 @ 7.0% cap · market cap 81.28%
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
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 17111, PA
36,557
Population
14,880
Households
2.5
Avg Household Size
40
Median Age
33%
College-Educated
90%
High-School Grad
18.4 sq mi
ZIP Area
1,987
Density / Sq Mi
$84,314
Median Household Income
$47,256
Median Earnings
$1,309
Median Rent
$225,500
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 - Each apartment includes kitchen appliances and in-unit laundry equipment.
Where is this duplex located?
The property is located at 3118 DERRY STREET Harrisburg, PA.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two‑unit duplex with one 2‑bedroom apartment and one 1‑bedroom apartment; 1,324‑square‑foot brick property built in 1922; Roof replaced in 2019
