Triplex with Detached
For Sale
$195,000
323 Crescent St, Harrisburg, PA 17104
Partially renovated residential income property with off-street parking and flexible unit layouts.
Property Size1,872 SF
Price / SF$104.17
Days on Market117
Property Features for 323 Crescent St
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,405
Listing Agency:
Keller Williams of Central PA
(717) 678-1725
Listed By:
Monique Johnson · License #RS348779
(717) 678-1725
Source:
Exprealty
Added: May 6
Changed: Aug 29
Last Checked: May 16 at 9:14AM
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 three-unit residential property contains 1,872 square feet and was built in 1900. Renovation work is underway, and the building is being offered as-is for completion according to the purchaser’s specifications. Unit 1 includes 1 bedroom and 2 bathrooms, while Unit 2 offers 3–4 bedrooms with plumbing for 2 bathrooms. The property also includes a detached 1-car garage and additional off-street parking.
Located at 323 Crescent Street in Harrisburg, the property is zoned RESIDENTIAL and falls within the City of Harrisburg MLS area. Harrisburg High School and the Harrisburg City School District are identified in the property information.
Located at 323 Crescent Street in Harrisburg, the property is zoned RESIDENTIAL and falls within the City of Harrisburg MLS area. Harrisburg High School and the Harrisburg City School District are identified in the property information.
Key Highlights
- Three‑unit property with 1,872 SF
- Unit 1 includes 1 bedroom and 2 bathrooms
- Unit 2 offers 3–4 bedrooms with plumbing for 2 bathrooms
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
$16,709
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
8.57%
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%
$334,180
$334.2K
Cap Rate 7%
$238,700
$238.7K
Cap Rate 9%
$185,656
$185.7K
Market Conditions
NOI Build-Up for 1,872 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
$25.8K $13.80/SF
− Vacancy
−$2.0K −$1.05/SF
EGI
$23.9K $12.75/SF
− OpEx
−$7.2K −$3.83/SF
NOI
$16.7K $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%
$334,180
Cap Rate 7%
$238,700
Cap Rate 9%
$185,656
Alternative Uses
Best Use
Multifamily LT 5
$238.7K
$208.9K – $278.5K
NOI $16,709 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$212.7K
$186.1K – $248.2K
NOI $14,890 @ 7.0% cap · market cap 7.64%
Theoretical Best
Specialty Retail
$3.45M
$3.02M – $4.02M
NOI $241,348 @ 7.0% cap · market cap 123.77%
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
2,027
Businesses Nearby
Explore this area
Business Placement
Demographics for 17104, PA
20,058
Population
8,700
Households
2.3
Avg Household Size
32
Median Age
17%
College-Educated
80%
High-School Grad
3.4 sq mi
ZIP Area
5,899
Density / Sq Mi
$42,113
Median Household Income
$31,319
Median Earnings
$953
Median Rent
$102,200
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 - Partially renovated residential income property with off-street parking and flexible unit layouts.
Where is this triplex located?
The property is located at 323 Crescent St Harrisburg, 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: Three‑unit property with 1,872 SF; Unit 1 includes 1 bedroom and 2 bathrooms; Unit 2 offers 3–4 bedrooms with plumbing for 2 bathrooms
