Updated Two-Unit
New
For Sale
$229,000
3201 DERRY ST, Harrisburg, PA 17111
Two refreshed one-bedroom residences with private outdoor space, rear parking, and separate heating and cooling features.
Property Size1,555 SF
Price / SF$147.27
Days on Market2
Property Features for 3201 DERRY ST
General Information
Standard status
Active
Size
1,555 SF
Total Parking Spaces
3
Property subtype
Multi-family
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Amenities
covered front porch
private yard
Listing Agency:
Keller Williams of Central PA
(717) 761-4300
Listed By:
DAMARIS RODRIGUEZ · License #RS326230
(717) 525-4763
Source:
Imanirealtors
Added: Sep 11
Last Checked: Sep 11 at 2:47PM
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 Keller Williams of Central PA
Investment Insights
Based on property information with market context.
This 1,555-square-foot duplex at 3201 Derry St includes two one-bedroom units, each arranged for residential rental use. The first-floor residence has fresh paint, updated lighting, a newly carpeted bedroom, revised bathroom flooring, wall-unit A/C, and an electric stove. The upper unit includes a new heating system, central A/C, fresh paint, new kitchen flooring, updated lighting, a large closet, washer and dryer, and a gas range.
The property includes a large covered front porch, private yard, and 3 off-street parking spaces behind the building. Washer and dryer hookups are available in the basement for the first-floor unit, while the second-floor unit includes its own washer and dryer. The landlord pays water, sewer, and trash. The duplex is located in Paxtang Borough and served by the Central Dauphin School District.
The property includes a large covered front porch, private yard, and 3 off-street parking spaces behind the building. Washer and dryer hookups are available in the basement for the first-floor unit, while the second-floor unit includes its own washer and dryer. The landlord pays water, sewer, and trash. The duplex is located in Paxtang Borough and served by the Central Dauphin School District.
Key Highlights
- Two‑unit duplex with 1,555 square feet of building area
- Both residences offer a 1‑bedroom layout
- 3 off‑street parking spaces in the rear
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
$13,880
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
6.06%
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%
$277,600
$277.6K
Cap Rate 7%
$198,286
$198.3K
Cap Rate 9%
$154,222
$154.2K
Market Conditions
NOI Build-Up for 1,555 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
$21.5K $13.80/SF
− Vacancy
−$1.6K −$1.05/SF
EGI
$19.8K $12.75/SF
− OpEx
−$5.9K −$3.83/SF
NOI
$13.9K $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%
$277,600
Cap Rate 7%
$198,286
Cap Rate 9%
$154,222
Alternative Uses
Best Use
Multifamily LT 5
$198.3K
$173.5K – $231.3K
NOI $13,880 @ 7.0% cap · market cap 6.06%
Second Best
Apartment 5plus
$176.7K
$154.6K – $206.2K
NOI $12,369 @ 7.0% cap · market cap 5.40%
Theoretical Best
Specialty Retail
$2.86M
$2.51M – $3.34M
NOI $200,478 @ 7.0% cap · market cap 87.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
755
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed one-bedroom residences with private outdoor space, rear parking, and separate heating and cooling features.
Where is this duplex located?
The property is located at 3201 DERRY ST Harrisburg, PA.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,555 square feet of building area; Both residences offer a 1‑bedroom layout; 3 off‑street parking spaces in the rear
