Updated Duplex
For Sale
$450,000
328 North College Street, Carlisle, PA 17013
Residential income property with refreshed interiors and current Airbnb use in Carlisle Borough.
Property Size2,545 SF
Price / SF$176.82
Days on Market100
Property Features for 328 North College Street
General Information
Standard status
Active
Size
2,545 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Taxes and HOA fees
Annual Taxes
$2,326
Amenities
No
2+ Access Exits
No Pool
Building Details
Year Built
1905
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 226-2875
Listed By:
HEATHER ANN NEIDLINGER · License #AB066821
(717) 226-2875
Source:
Compass
Added: May 24
Changed: Aug 30
Last Checked: Aug 31 at 12:51AM
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 Berkshire Hathaway HomeServices Homesale Realty
Investment Insights
Based on property information with market context.
This duplex property at 328 North College Street offers 2,545 square feet of residential space with an updated interior. The layout includes three bedrooms, one full bathroom, and one half bathroom, along with bright living areas and a renovated kitchen featuring contemporary finishes, ample cabinetry, and practical workspace. The property was built in 1905 and includes two or more access exits.
Current use is as an Airbnb, and the property may be sold as a duplex or separately. It is located in Carlisle, Pennsylvania, within Cumberland County, and falls within the Carlisle Area School District. Zoning is residential.
Current use is as an Airbnb, and the property may be sold as a duplex or separately. It is located in Carlisle, Pennsylvania, within Cumberland County, and falls within the Carlisle Area School District. Zoning is residential.
Key Highlights
- 2,545‑square‑foot duplex property at 328 North College Street
- Three bedrooms, one full bathroom, and one half bathroom
- Updated interior with renovated kitchen and contemporary finishes
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
$24,214
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
5.38%
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%
$484,280
$484.3K
Cap Rate 7%
$345,914
$345.9K
Cap Rate 9%
$269,044
$269.0K
Market Conditions
NOI Build-Up for 2,545 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
$36.6K $14.40/SF
− Vacancy
−$2.1K −$0.81/SF
EGI
$34.6K $13.59/SF
− OpEx
−$10.4K −$4.08/SF
NOI
$24.2K $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%
$484,280
Cap Rate 7%
$345,914
Cap Rate 9%
$269,044
Alternative Uses
Best Use
Multifamily LT 5
$345.9K
$302.7K – $403.6K
NOI $24,214 @ 7.0% cap · market cap 5.38%
Second Best
Apartment 5plus
$307.1K
$268.7K – $358.3K
NOI $21,496 @ 7.0% cap · market cap 4.78%
Theoretical Best
Office A
$591.2K
$517.3K – $689.7K
NOI $41,383 @ 7.0% cap · market cap 9.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,217
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?
Duplex - Residential income property with refreshed interiors and current Airbnb use in Carlisle Borough.
Where is this duplex located?
The property is located at 328 North College Street Carlisle, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 2,545‑square‑foot duplex property at 328 North College Street; Three bedrooms, one full bathroom, and one half bathroom; Updated interior with renovated kitchen and contemporary finishes
