Ranch Multifamily
New
For Sale
$625,000
7246 SMITH Road, Chambersburg, PA 17202
Multi-Family, CHAMBERSBURG, PA
Property Size3,692 SF
Lot Size4.27 Acres
Price / SF$169.28
Days on Market1
Property Features for 7246 SMITH Road
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Basement
Parking
1
Parking features
Garage - Attached, Driveway
Fireplace
1
Elementary school district
CHAMBERSBURG AREA
Middle school district
CHAMBERSBURG AREA
High school district
CHAMBERSBURG AREA
Standard status
Active
Size
3,692 SF
Lot size
4.27 Acres
Taxes and HOA fees
Tax Annual Amount
5229
Utilities
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Amenities
horse barn
fenced pasture
dog kennels
pond with dock
Trex deck
Building Details
Year built
1990
Number of units
2
Building materials
Stick Built
Architectural style
Ranch
Listing Agency:
Iron Valley Real Estate of Central PA
(717) 344-5950
Listed By:
Glenda Shull · License #RS356521
(717) 462-1174
Added: Sep 13
Last Checked: Sep 13 at 11:06PM
MLS# PAFL2037668
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.
Investment Insights
Based on property information with market context.
Located at 7246 Smith Road in Chambersburg, this updated ranch property offers 3,692 square feet of finished living space on 4.27 acres. The main level includes three bedrooms, two full bathrooms, a formal living room, den, dining room, and renovated kitchen with custom cabinetry, granite countertops, updated appliances, and hickory flooring. A finished walk-out lower level adds a second kitchen, living area, full kitchen, bonus room, and direct exterior access, creating flexible separate living space.
Exterior improvements include new windows, siding, and roof, along with a partially covered Trex deck, circular driveway, attached garage, fenced pasture, dog kennels, and a pond with dock. The 36-by-48-foot four-stall horse barn supports equestrian use and may also accommodate boarding activities. The property is served by heat pump heating and central air and includes a fireplace.
Exterior improvements include new windows, siding, and roof, along with a partially covered Trex deck, circular driveway, attached garage, fenced pasture, dog kennels, and a pond with dock. The 36-by-48-foot four-stall horse barn supports equestrian use and may also accommodate boarding activities. The property is served by heat pump heating and central air and includes a fireplace.
Key Highlights
- 3,692 square feet of finished living space on 4.27 acres
- Finished walk‑out lower level with second kitchen, living area, bonus room, and exterior access
- Main level includes three bedrooms and two full 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
$36,719
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
5.88%
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%
$734,380
$734.4K
Cap Rate 7%
$524,557
$524.6K
Cap Rate 9%
$407,989
$408.0K
Market Conditions
NOI Build-Up for 3,692 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
$56.7K $15.36/SF
− Vacancy
−$4.3K −$1.15/SF
EGI
$52.5K $14.21/SF
− OpEx
−$15.7K −$4.26/SF
NOI
$36.7K $9.95/SF
Area
Franklin County, PA
Vacancy
7.50%
Lease Rate
$15.36 /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%
$734,380
Cap Rate 7%
$524,557
Cap Rate 9%
$407,989
Alternative Uses
Best Use
Multifamily LT 5
$524.6K
$459.0K – $612.0K
NOI $36,719 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$473.7K
$414.5K – $552.6K
NOI $33,157 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$895.2K
$783.3K – $1.04M
NOI $62,664 @ 7.0% cap · market cap 10.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 17202, PA
30,805
Population
12,925
Households
2.4
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
118.1 sq mi
ZIP Area
261
Density / Sq Mi
$94,366
Median Household Income
$49,471
Median Earnings
$1,094
Median Rent
$257,700
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Updated ranch property with separate lower-level living space, acreage, and equestrian improvements.
Where is this duplex located?
The property is located at 7246 SMITH Road Chambersburg, 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: 3,692 square feet of finished living space on 4.27 acres; Finished walk‑out lower level with second kitchen, living area, bonus room, and exterior access; Main level includes three bedrooms and two full bathrooms
