Brick Duplex Conversion
New
For Sale
$240,000
3621 RUTHERFORD Street, Harrisburg, PA 17111
Multi-Family, HARRISBURG, PA
Property Size1,474 SF
Lot Size0.11 Acres
Price / SF$162.82
Days on Market3
Property Features for 3621 RUTHERFORD Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
2
Parking features
Garage - Detached
Fireplace
1
Subdivision
NONE AVAILABLE
High school
CENTRAL DAUPHIN
Elementary school district
CENTRAL DAUPHIN
Middle school district
CENTRAL DAUPHIN
High school district
CENTRAL DAUPHIN
Standard status
Active
Size
1,474 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
3830
Utilities
Heating system
Steam
Building Details
Year built
1923
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Berkshire Hathaway HomeServices Homesale Realty
(717) 245-2100
Listed By:
HEATHER ANN NEIDLINGER · License #AB066821
(717) 226-2875
Added: Aug 20
Last Checked: Aug 22 at 3:06PM
MLS# PADA2063226
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 brick residential property, built in 1923, offers 1,474 square feet across a flexible two-level layout. The first floor includes hardwood flooring, a living room, kitchen, bedroom, full bathroom, laundry area, and brick fireplace. Four additional bedrooms, a second full bathroom, and a central hallway are located upstairs.
A covered front porch extends the living space, while the basement provides storage and utility room capacity. The detached garage accommodates two vehicles and adds storage. The existing floor plan may be reconfigured for two-unit use, subject to applicable approvals. Steam heat serves the property, which occupies 0.11 acres in Harrisburg, Pennsylvania.
A covered front porch extends the living space, while the basement provides storage and utility room capacity. The detached garage accommodates two vehicles and adds storage. The existing floor plan may be reconfigured for two-unit use, subject to applicable approvals. Steam heat serves the property, which occupies 0.11 acres in Harrisburg, Pennsylvania.
Key Highlights
- 1,474‑square‑foot residential property built in 1923
- Five‑bedroom layout with two full bathrooms
- Floor plan offers potential conversion to two‑unit use
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
$13,157
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
5.48%
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%
$263,140
$263.1K
Cap Rate 7%
$187,957
$188.0K
Cap Rate 9%
$146,189
$146.2K
Market Conditions
NOI Build-Up for 1,474 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
$20.3K $13.80/SF
− Vacancy
−$1.5K −$1.05/SF
EGI
$18.8K $12.75/SF
− OpEx
−$5.6K −$3.83/SF
NOI
$13.2K $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%
$263,140
Cap Rate 7%
$187,957
Cap Rate 9%
$146,189
Alternative Uses
Best Use
Multifamily LT 5
$188.0K
$164.5K – $219.3K
NOI $13,157 @ 7.0% cap · market cap 5.48%
Second Best
Apartment 5plus
$167.5K
$146.6K – $195.4K
NOI $11,725 @ 7.0% cap · market cap 4.89%
Theoretical Best
Specialty Retail
$2.71M
$2.38M – $3.17M
NOI $190,035 @ 7.0% cap · market cap 79.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
497
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
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 - Two-level home with a covered porch, detached garage, basement storage, and a layout that can be adapted for two-unit use.
Where is this duplex located?
The property is located at 3621 RUTHERFORD Street Harrisburg, PA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: 1,474‑square‑foot residential property built in 1923; Five‑bedroom layout with two full bathrooms; Floor plan offers potential conversion to two‑unit use
