Two-Unit Residential Income
404-406 Sylvan Drive State College, PA 16803
For Sale
$349,900
Pending
Two-unit duplex in Park Forest with separate pull-under garages and washer/dryer hookups; TLC needed.
Property Size2,240 SF
Days on Market121
Property Features for 404-406 Sylvan Drive
General Information
- Standard status
- Pending
- Size
- 2,240 SF
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1965
Listing Agency:
Kissinger, Bigatel & Brower
(814) 280-2088
Listed By:
Ellen Kline · License #RS200089L
(814) 280-2088
Source:
Compass
Added: Mar 25
Changed: Jul 23
Last Checked: Jul 23 at 3:36PM
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 Kissinger, Bigatel & Brower
Investment Insights
Based on property information with market context.
This two-unit duplex offers 3 bedrooms and 1 full bath on each side. The layout includes hardwood floors in the living and dining areas and an eat-in kitchen. Each unit also has a pull-under garage with washer/dryer hookups located in the combo garage/basement. The property is described as requiring TLC.
The duplex is located in Park Forest in State College, Pennsylvania. Each side is currently rented through 6/30/27, and the seller reports that one unit is leased at $1,325/month and the other at $1,350/month. The tenant is responsible for electric, which includes heat, and also handles cable and Wi-Fi, while the landlord covers lawn, snow, and trash. There is ample parking for guests and additional vehicles in the back.
The duplex is located in Park Forest in State College, Pennsylvania. Each side is currently rented through 6/30/27, and the seller reports that one unit is leased at $1,325/month and the other at $1,350/month. The tenant is responsible for electric, which includes heat, and also handles cable and Wi-Fi, while the landlord covers lawn, snow, and trash. There is ample parking for guests and additional vehicles in the back.
Key Highlights
- 2‑unit duplex in Park Forest with each side 1,120 SF above grade
- Each unit has a pull‑under garage plus washer/dryer hookups in the combo garage/basement
- Hardwood floors in living and dining areas; eat‑in kitchen with table space
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.4k | $13.56 |
| − Vacancy | −$2.0k | −$0.88 |
| EGI | $28.4k | $12.68 |
| − OpEx | −$8.5k | −$3.80 |
| NOI | $19.9k | $8.88 |
2,240 SF · lease $13.56/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$284.0K
$248.5K – $331.3K
NOI $19,880 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$254.7K
$222.8K – $297.1K
NOI $17,826 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$494.7K
$432.9K – $577.2K
NOI $34,630 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit duplex in Park Forest with separate pull-under garages and washer/dryer hookups; TLC needed.
Where is this duplex located?
The property is located at 404-406 Sylvan Drive State College, PA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: 2‑unit duplex in Park Forest with each side 1,120 SF above grade; Each unit has a pull‑under garage plus washer/dryer hookups in the combo garage/basement; Hardwood floors in living and dining areas; eat‑in kitchen with table space
