Triplex With Separate
New
For Sale
$375,000
335 S WOOD Street, Middletown, PA 17057
Multi-Family, MIDDLETOWN, PA
Property Size3,382 SF
Lot Size0.17 Acres
Price / SF$110.88
Days on Market3
Property Features for 335 S WOOD Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
2
Parking features
Driveway
High school
MIDDLETOWN AREA HIGH SCHOOL
Elementary school district
MIDDLETOWN AREA
Middle school district
MIDDLETOWN AREA
High school district
MIDDLETOWN AREA
Standard status
Active
Size
3,382 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
5069
Utilities
Heating system
Baseboard, Forced Air, Electric (Heating)
Building Details
Year built
1900
Number of units
3
Building materials
Frame
Listing Agency:
Keller Williams Realty
(717) 657-4700
Listed By:
Matt Heilig · License #RS333742
(717) 215-0275
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 5 at 11:06AM
MLS# PADA2063852
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 three-unit property contains 3,382 square feet and was built in 1900 with frame construction. Each apartment has its own entrance. The unit mix includes one three-bedroom, two-bath apartment, plus two one-bedroom, one-bath apartments. The first-floor one-bedroom unit provides ground-level access, while the other one-bedroom unit is reached by exterior stairs. Two units are occupied and the third is vacant. Electric, water, sewer, and trash expenses are separately assigned to each unit. The property also includes a basement, driveway parking, and a large outdoor area on a 0.17-acre lot.
Located in Middletown near Penn State Harrisburg, local amenities, major roadways, and area employment centers, the property offers a three-unit configuration with separate utility responsibility and an available apartment. Heating includes electric, baseboard, and forced-air systems.
Located in Middletown near Penn State Harrisburg, local amenities, major roadways, and area employment centers, the property offers a three-unit configuration with separate utility responsibility and an available apartment. Heating includes electric, baseboard, and forced-air systems.
Key Highlights
- Three‑unit property with 3,382 square feet
- Unit mix includes 3 bedrooms/2 baths, plus two 1‑bedroom/1‑bath units
- Two units occupied; one unit vacant
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
$30,187
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
8.05%
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%
$603,740
$603.7K
Cap Rate 7%
$431,243
$431.2K
Cap Rate 9%
$335,411
$335.4K
Market Conditions
NOI Build-Up for 3,382 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
$46.7K $13.80/SF
− Vacancy
−$3.5K −$1.05/SF
EGI
$43.1K $12.75/SF
− OpEx
−$12.9K −$3.83/SF
NOI
$30.2K $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%
$603,740
Cap Rate 7%
$431,243
Cap Rate 9%
$335,411
Alternative Uses
Best Use
Multifamily LT 5
$431.2K
$377.3K – $503.1K
NOI $30,187 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$384.3K
$336.3K – $448.4K
NOI $26,902 @ 7.0% cap · market cap 7.17%
Theoretical Best
Specialty Retail
$6.23M
$5.45M – $7.27M
NOI $436,024 @ 7.0% cap · market cap 116.27%
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
489
Businesses Nearby
Explore this area
Business Placement
Demographics for 17057, PA
23,112
Population
10,513
Households
2.2
Avg Household Size
39
Median Age
27%
College-Educated
94%
High-School Grad
31.1 sq mi
ZIP Area
743
Density / Sq Mi
$70,536
Median Household Income
$42,948
Median Earnings
$1,122
Median Rent
$187,300
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 property with two occupied apartments, one vacant unit, and individually assigned utility expenses.
Where is this triplex located?
The property is located at 335 S WOOD Street Middletown, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit property with 3,382 square feet; Unit mix includes 3 bedrooms/2 baths, plus two 1‑bedroom/1‑bath units; Two units occupied; one unit vacant
