Triplex With Detached
New
For Sale
$434,900
3185 SPRING Road, Carlisle, PA 17013
Multi-Family, CARLISLE, PA
Property Size3,536 SF
Lot Size0.87 Acres
Price / SF$122.99
Days on Market6
Property Features for 3185 SPRING Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Parking features
Parking Lot, Off Street, Assigned, Driveway
High school
CUMBERLAND VALLEY
Elementary school district
CUMBERLAND VALLEY
Middle school district
CUMBERLAND VALLEY
High school district
CUMBERLAND VALLEY
Standard status
Active
Size
3,536 SF
Lot size
0.87 Acres
Taxes and HOA fees
Tax Annual Amount
2988
Utilities
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s)
Amenities
laundry facilities
backyard
detached shed
side yard
garage
Building Details
Year built
1958
Number of units
3
Building materials
Aluminum Siding
Architectural style
Other
Listing Agency:
Iron Valley Real Estate of Central PA
(717) 344-5950
Listed By:
Tavia Garland · License #RS342260
(717) 713-8027
Added: Aug 28
Changed: Sep 1
Last Checked: Sep 2 at 1:06PM
MLS# PACB2057836
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 3,536-square-foot triplex, built in 1958, contains two one-bedroom apartments and a larger three-bedroom second-floor residence. The first-floor units share laundry facilities and connect to the backyard, while the upper unit has access to a side yard and a detached shed. A garage, driveway, assigned spaces, parking lot, and additional off-street parking serve the property.
Set on 0.87 acres at 3185 Spring Road in Carlisle, Pennsylvania, the property is positioned near town, shopping, restaurants, and everyday amenities. Aluminum siding, electric baseboard heating, and window-unit cooling complete the existing improvements.
Set on 0.87 acres at 3185 Spring Road in Carlisle, Pennsylvania, the property is positioned near town, shopping, restaurants, and everyday amenities. Aluminum siding, electric baseboard heating, and window-unit cooling complete the existing improvements.
Key Highlights
- Three‑unit configuration with two 1‑bedroom apartments and one 3‑bedroom unit
- 3,536 square feet on 0.87 acres
- Detached garage, driveway, parking lot, assigned spaces, and off‑street parking
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
$33,643
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
7.74%
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%
$672,860
$672.9K
Cap Rate 7%
$480,614
$480.6K
Cap Rate 9%
$373,811
$373.8K
Market Conditions
NOI Build-Up for 3,536 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
$50.9K $14.40/SF
− Vacancy
−$2.9K −$0.81/SF
EGI
$48.1K $13.59/SF
− OpEx
−$14.4K −$4.08/SF
NOI
$33.6K $9.51/SF
Area
Cumberland County, PA
Vacancy
5.61%
Lease Rate
$14.40 /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%
$672,860
Cap Rate 7%
$480,614
Cap Rate 9%
$373,811
Alternative Uses
Best Use
Multifamily LT 5
$480.6K
$420.5K – $560.7K
NOI $33,643 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$426.7K
$373.3K – $497.8K
NOI $29,867 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$821.4K
$718.7K – $958.3K
NOI $57,497 @ 7.0% cap · market cap 13.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
37
Businesses Nearby
Explore this area
Business Placement
Demographics for 17013, PA
36,578
Population
16,065
Households
2.3
Avg Household Size
39
Median Age
34%
College-Educated
93%
High-School Grad
39.2 sq mi
ZIP Area
933
Density / Sq Mi
$68,150
Median Household Income
$36,336
Median Earnings
$1,018
Median Rent
$221,800
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?
Triplex - Three-unit residential income property with varied unit sizes, outdoor areas, shared laundry, and substantial off-street parking.
Where is this triplex located?
The property is located at 3185 SPRING Road Carlisle, PA.
What is the asking price?
The asking price for this property is $434,900.
What are key features of this property?
This property features: Three‑unit configuration with two 1‑bedroom apartments and one 3‑bedroom unit; 3,536 square feet on 0.87 acres; Detached garage, driveway, parking lot, assigned spaces, and off‑street parking
