Historic Multifamily Property with Carriage
For Sale
$625,000
560 S HANOVER ST, Carlisle, PA 17013
Five bedrooms, 2.5 bathrooms, and a separate dwelling create flexible residential income and living arrangements.
Property Size2,835 SF
Price / SF$220.46
Days on Market49
Property Features for 560 S HANOVER ST
General Information
Standard status
Active
Size
2,835 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
2
Building Details
Buildings
2
Listing Agency:
Keller Williams of Central PA
(717) 761-4300
Listed By:
DAVID HOOKE · License #AB068020
(717) 422-9950
Source:
Keygroupmd
Added: Sep 10
Changed: Oct 26
Last Checked: Oct 26 at 3:23PM
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
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Investment Insights
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Located at 560 S Hanover Street in Carlisle, this historic multifamily property combines original architectural detail with adaptable residential space. The main residence spans more than four finished levels and includes five bedrooms, 2.5 bathrooms, a kitchen with a dedicated eating area, first-floor laundry, finished basement space, soaring ceilings, hardwood flooring, pocket doors, crown molding, and a prominent main staircase. A stained-glass gable, detailed woodwork, and other period features contribute to the building’s character.
The rear carriage house functions as an independent dwelling with separate utilities, a living room with stone accent wall and recessed lighting, full kitchen, full bathroom, private laundry, and a bedroom with vaulted ceiling, built-in bookshelves, and fireplace. Outside, the enclosed backyard includes a pergola-covered patio, mature wisteria, landscaping, privacy fencing, and multiple electrical outlets. The property is a short walk from downtown Carlisle amenities and community events, with access to major commuter routes. Carlisle Borough permits short-term, mid-term, and long-term rentals.
The rear carriage house functions as an independent dwelling with separate utilities, a living room with stone accent wall and recessed lighting, full kitchen, full bathroom, private laundry, and a bedroom with vaulted ceiling, built-in bookshelves, and fireplace. Outside, the enclosed backyard includes a pergola-covered patio, mature wisteria, landscaping, privacy fencing, and multiple electrical outlets. The property is a short walk from downtown Carlisle amenities and community events, with access to major commuter routes. Carlisle Borough permits short-term, mid-term, and long-term rentals.
Key Highlights
- Historic main residence with more than four finished levels
- Five bedrooms and 2.5 bathrooms in the primary home
- Detached carriage house with separate utilities and independent living spaces
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,946
Cap Rate
3.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,920
$478.9K
Cap Rate 7%
$342,086
$342.1K
Cap Rate 9%
$266,067
$266.1K
Market Conditions
NOI Build-Up for 2,835 SF
Gross rent
$46.3K $16.32/SF
− Vacancy
−$2.7K −$0.96/SF
EGI
$43.5K $15.36/SF
− OpEx
−$19.6K −$6.91/SF
NOI
$23.9K $8.45/SF
Area
Cumberland County, PA
Vacancy
5.90%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,920
Cap Rate 7%
$342,086
Cap Rate 9%
$266,067
Alternative Uses
Best Use
Apartment 5plus
$342.1K
$299.3K – $399.1K
NOI $23,946 @ 7.0% cap · market cap 3.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$658.5K
$576.2K – $768.3K
NOI $46,098 @ 7.0% cap · market cap 7.38%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,064
Businesses Nearby
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Business Placement
Demographics for 17013, PA
36,578
Population
16,065
Households
2.3
Avg Household Size
39
Median Age
34%
College-Educated
93%
High-School Grad
39.2 sq mi
ZIP Area
933
Density / Sq Mi
$68,150
Median Household Income
$36,336
Median Earnings
$1,018
Median Rent
$221,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Five bedrooms, 2.5 bathrooms, and a separate dwelling create flexible residential income and living arrangements.
Where is this multifamily property located?
The property is located at 560 S HANOVER ST Carlisle, PA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Historic main residence with more than four finished levels; Five bedrooms and 2.5 bathrooms in the primary home; Detached carriage house with separate utilities and independent living spaces
