Updated Triplex with
For Sale
Under Contract
$249,900
615-619 OLIVER Street, Williamsport, PA 17701
Multi-Units, Williamsport, PA
Property Size2,592 SF
Lot Size0.10 Acres
Price / SF$96.41
Days on Market50
Property Features for 615-619 OLIVER Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
7
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 6, Bathroom 2, Bedroom 4, Bedroom 7, Bathroom 3, Bedroom 5, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 1
View
City
Elementary school district
Williamsport
Middle school district
Williamsport
High school district
Williamsport
Subdivision
WILLIAMSPORT CITY
Standard status
Active Under Contract
APN
70+,008.0-0501.00-000+
Size
2,592 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
4596
Utilities
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1901
Floors in Building
2
Number of units
3
Flooring type
Vinyl, Laminate, Carpet
Building materials
Frame, Vinyl Siding
Roof type
Shingle
Listing Agency:
Iron Valley Real Estate North Central PA
(570) 979-1002
Listed By:
Selina R Pulizzi · License #Rs330889
(570) 772-5170
Added: Aug 14
Changed: Sep 16
Last Checked: Oct 2 at 11:06PM
MLS# WB-104605
Copyright © 2026 West Branch Valley Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,592-square-foot triplex contains three residential units with a total of seven bedrooms and four bathrooms. The 1901 frame building has vinyl siding, a shingle roof, and a mix of carpet, vinyl, and laminate flooring. Recent improvements include newer furnaces, refreshed kitchens, updated flooring, and replacement appliances. Public water serves the property, and all three units are currently rented.
The property occupies 0.1 acres at 615-619 Oliver Street in Williamsport, Pennsylvania 17701. R-2 zoning supports its established multifamily configuration. The existing unit count, tenant occupancy, and completed updates provide a defined residential income property profile without requiring a new development or conversion plan.
The property occupies 0.1 acres at 615-619 Oliver Street in Williamsport, Pennsylvania 17701. R-2 zoning supports its established multifamily configuration. The existing unit count, tenant occupancy, and completed updates provide a defined residential income property profile without requiring a new development or conversion plan.
Key Highlights
- Three‑unit multifamily property with all units currently rented
- 2,592 square feet on a 0.1‑acre lot
- Seven bedrooms and four bathrooms
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
$21,147
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
8.46%
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%
$422,940
$422.9K
Cap Rate 7%
$302,100
$302.1K
Cap Rate 9%
$234,967
$235.0K
Market Conditions
NOI Build-Up for 2,592 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
$32.7K $12.60/SF
− Vacancy
−$2.4K −$0.95/SF
EGI
$30.2K $11.66/SF
− OpEx
−$9.1K −$3.50/SF
NOI
$21.1K $8.16/SF
Area
Lycoming County, PA
Vacancy
7.50%
Lease Rate
$12.60 /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%
$422,940
Cap Rate 7%
$302,100
Cap Rate 9%
$234,967
Alternative Uses
Best Use
Multifamily LT 5
$302.1K
$264.3K – $352.5K
NOI $21,147 @ 7.0% cap · market cap 8.46%
Second Best
Apartment 5plus
$280.2K
$245.1K – $326.9K
NOI $19,611 @ 7.0% cap · market cap 7.85%
Theoretical Best
Office A
$558.6K
$488.8K – $651.7K
NOI $39,101 @ 7.0% cap · market cap 15.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
Explore this area
Business Placement
Demographics for 17701, PA
43,197
Population
20,891
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
98.0 sq mi
ZIP Area
441
Density / Sq Mi
$52,770
Median Household Income
$33,643
Median Earnings
$869
Median Rent
$176,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied units feature refreshed kitchens, newer appliances, and natural gas heating within R-2 zoning.
Where is this triplex located?
The property is located at 615-619 OLIVER Street Williamsport, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Three‑unit multifamily property with all units currently rented; 2,592 square feet on a 0.1‑acre lot; Seven bedrooms and four bathrooms
