Side-by-Side Duplexes with Separate
For Sale
$330,000
611 Walnut Bottom Road, Shippensburg, PA 17257
Two separately deeded units offer updated interiors, covered porches, and private outdoor areas.
Property Size2,382 SF
Price / SF$138.54
Days on Market31
Property Features for 611 Walnut Bottom Road
General Information
Standard status
Active
Size
2,382 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR/1.5BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,507
Amenities
covered front porch
rear deck or patio area
Listing Agency:
Century 21 A Better Way
(717) 385-4039
Listed By:
VINCENT MELLOTT · License #RM420365
(717) 385-4039
Source:
Exprealty
Added: Jul 23
Changed: Aug 21
Last Checked: Aug 22 at 9:53AM
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 Century 21 A Better Way
Investment Insights
Based on property information with market context.
This 2382-square-foot multifamily property includes two side-by-side residences conveyed as separate deeds and offered together. Each unit contains 3 bedrooms and 1.5 baths, with improvements to the kitchens, bathrooms, flooring, and paint. Covered front porches and rear deck or patio areas provide outdoor space for both residences.
A recently added driveway from the rear alley expands off-street parking, with additional spaces beside the building and within a detached garage and carport. Utilities are separately metered for each unit. The property is located at 611 Walnut Bottom Road in Shippensburg, Pennsylvania.
A recently added driveway from the rear alley expands off-street parking, with additional spaces beside the building and within a detached garage and carport. Utilities are separately metered for each unit. The property is located at 611 Walnut Bottom Road in Shippensburg, Pennsylvania.
Key Highlights
- Two separately deeded duplex properties sold together
- Each unit offers 3 bedrooms and 1.5 baths
- 2382 SF multifamily property with updated kitchens, bathrooms, flooring, and paint
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
$22,664
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
6.87%
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%
$453,280
$453.3K
Cap Rate 7%
$323,771
$323.8K
Cap Rate 9%
$251,822
$251.8K
Market Conditions
NOI Build-Up for 2,382 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
$34.3K $14.40/SF
− Vacancy
−$1.9K −$0.81/SF
EGI
$32.4K $13.59/SF
− OpEx
−$9.7K −$4.08/SF
NOI
$22.7K $9.51/SF
Area
Cumberland County, PA
Vacancy
5.61%
Lease Rate
$14.40 /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%
$453,280
Cap Rate 7%
$323,771
Cap Rate 9%
$251,822
Alternative Uses
Best Use
Multifamily LT 5
$323.8K
$283.3K – $377.7K
NOI $22,664 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$287.4K
$251.5K – $335.3K
NOI $20,119 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$553.3K
$484.2K – $645.5K
NOI $38,732 @ 7.0% cap · market cap 11.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 17257, PA
28,673
Population
11,528
Households
2.5
Avg Household Size
34
Median Age
23%
College-Educated
88%
High-School Grad
115.2 sq mi
ZIP Area
249
Density / Sq Mi
$71,504
Median Household Income
$37,061
Median Earnings
$1,058
Median Rent
$219,200
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 separately deeded units offer updated interiors, covered porches, and private outdoor areas.
Where is this duplex located?
The property is located at 611 Walnut Bottom Road Shippensburg, PA.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Two separately deeded duplex properties sold together; Each unit offers 3 bedrooms and 1.5 baths; 2382 SF multifamily property with updated kitchens, bathrooms, flooring, and paint
