End-Unit Duplex with Fenced
For Sale
$225,000
524 N 16TH ST, Harrisburg, PA 17103
Two units offer distinct three-bedroom and one-bedroom residential layouts.
Property Size1,800 SF
Price / SF$125
Days on Market48
Property Features for 524 N 16TH ST
General Information
Standard status
Active
Size
1,800 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
fenced-in yard
Listing Agency:
Keller Williams of Central PA
(717) 620-1150
Listed By:
Shanice Hines-Butts · License #RS349943
(717) 620-1150
Source:
Towncentermd
Added: Jul 15
Changed: Aug 29
Last Checked: Aug 30 at 5:24PM
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 Keller Williams of Central PA
Investment Insights
Based on property information with market context.
This end-unit duplex contains two residential units totaling 1,800 square feet. The unit mix includes one three-bedroom, one-bath residence and one one-bedroom, one-bath residence. Both units are fully rented, and the property includes a fenced-in yard along with two brand-new water heaters.
The property is located at 524 N 16th St in Harrisburg, near Downtown Harrisburg, local amenities, and major roadways. Its two-unit configuration and established occupancy provide a straightforward multifamily profile in the city.
The property is located at 524 N 16th St in Harrisburg, near Downtown Harrisburg, local amenities, and major roadways. Its two-unit configuration and established occupancy provide a straightforward multifamily profile in the city.
Key Highlights
- Two‑unit duplex with 1,800 square feet of property size
- Unit mix includes a 3‑bedroom, 1 bath residence and a 1‑bedroom, 1 bath residence
- Fully rented and income‑producing
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
$16,067
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
7.14%
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%
$321,340
$321.3K
Cap Rate 7%
$229,529
$229.5K
Cap Rate 9%
$178,522
$178.5K
Market Conditions
NOI Build-Up for 1,800 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
$24.8K $13.80/SF
− Vacancy
−$1.9K −$1.05/SF
EGI
$23.0K $12.75/SF
− OpEx
−$6.9K −$3.83/SF
NOI
$16.1K $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%
$321,340
Cap Rate 7%
$229,529
Cap Rate 9%
$178,522
Alternative Uses
Best Use
Multifamily LT 5
$229.5K
$200.8K – $267.8K
NOI $16,067 @ 7.0% cap · market cap 7.14%
Second Best
Apartment 5plus
$204.5K
$179.0K – $238.6K
NOI $14,318 @ 7.0% cap · market cap 6.36%
Theoretical Best
Specialty Retail
$3.32M
$2.90M – $3.87M
NOI $232,065 @ 7.0% cap · market cap 103.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
968
Businesses Nearby
Explore this area
Business Placement
Demographics for 17103, PA
12,225
Population
5,345
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
6,434
Density / Sq Mi
$41,383
Median Household Income
$33,608
Median Earnings
$933
Median Rent
$113,100
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 units offer distinct three-bedroom and one-bedroom residential layouts.
Where is this duplex located?
The property is located at 524 N 16TH ST Harrisburg, PA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,800 square feet of property size; Unit mix includes a 3‑bedroom, 1 bath residence and a 1‑bedroom, 1 bath residence; Fully rented and income‑producing
