408 PENN Street S, Shippensburg, PA 17257
MULTI_FAMILY - Rambler - SHIPPENSBURG, PA
- Added:
- Apr 27, 2026
- Days on Market:
- 48
- Last Refresh:
- Jun 13 at 4:06 am
Property Features for 408 PENN Street S
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement, Dining Room
- Parking
- 4
- Parking features
- Off Street, Garage - Detached
- Pool private
- 1
- Interior features
- Combination Dining/Living, Primary Bath(s)
- Appliances
- Washer/Dryer Hookups Only, Refrigerator, Stove
- Standard status
- Active
- Size
- 1,968 SF
- Lot size
- 0.89 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3555
Utilities
- Heating system
- Forced Air
Building Details
- Year built
- 1963
- Number of units
- 2
- Building materials
- Aluminum Siding, Brick
- Architectural style
- Rambler
Listing agent Joshua B Nelson License #RS324166 (717) 860-6772
Listing office Iron Valley Real Estate of Chambersburg 653 Wayne Avenue, Chambersburg, PA (717) 210-5500
Listing date Apr 27, 2026
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.
HighLights
- Multi‑unit property in Shippensburg: detached rancher plus an accessory home used as a rental
- Accessory home rental income of $850 per month with tenant lease through July 1st
- 1963 rambler‑style home with forced‑air heating, aluminum siding and brick exterior
- 4‑bedroom ranch includes a large family room, hardwood floors, full basement, and granite counters
- Large heated detached garage/shop on site measuring 40x24 SF with off‑street parking
- Private pool with wrap‑around deck; washer/dryer hookups only plus stove and refrigerator
Overview
Local Financial Insights For Office B
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 | $35.4k | $18.00 |
| − Vacancy | −$2.1k | −$1.06 |
| EGI | $33.3k | $16.94 |
| − OpEx | −$8.3k | −$4.23 |
| NOI | $25.0k | $12.70 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Shippensburg
- County
- Cumberland
- State
- Pennsylvania
- Longitude
- -77.51498749
- Latitude
- 40.0454266
