Three-Bedroom Duplex with
For Sale
$219,900
Pending
738 & 742 FAIRGROUND AVENUE, Chambersburg, PA 17201
Side-by-side income property with separated utilities and off-street parking.
Property Size2,166 SF
Days on Market18
Property Features for 738 & 742 FAIRGROUND AVENUE
General Information
Standard status
Pending
Size
2,166 SF
Total Parking Spaces
4
Property subtype
Duplex
Additional Details
Multifamily Units
2
Building Details
Year Built
1950
Buildings
1
Listing Agency:
RE/MAX 1st Advantage
(717) 591-5555
Listed By:
Thomas B Mongold · License #RS216175L
(717) 729-6290
Source:
Cummingsrealtors
Added: Sep 9
Changed: Sep 26
Last Checked: Sep 26 at 9:07AM
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 RE/MAX 1st Advantage
Investment Insights
Based on property information with market context.
This side-by-side duplex contains two three-bedroom units totaling 2,166 square feet. The property includes separate utility systems for each unit, along with upgrades to the windows, doors, and roof. Built in 1950, the building offers a duplex configuration with off-street parking for four cars.
The property is tenant occupied, and showings require 48-hour notice. Its unit layout and separated utilities provide a clearly defined residential income configuration.
The property is tenant occupied, and showings require 48-hour notice. Its unit layout and separated utilities provide a clearly defined residential income configuration.
Key Highlights
- Two‑unit side‑by‑side duplex with two three‑bedroom units
- 2,166 square feet of total property size
- Separate utilities for each unit
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
$19,452
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
8.85%
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%
$389,040
$389.0K
Cap Rate 7%
$277,886
$277.9K
Cap Rate 9%
$216,133
$216.1K
Market Conditions
NOI Build-Up for 2,166 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
$37.9K $17.52/SF
− Vacancy
−$2.6K −$1.19/SF
EGI
$35.4K $16.33/SF
− OpEx
−$15.9K −$7.35/SF
NOI
$19.5K $8.98/SF
Area
Franklin County, PA
Vacancy
6.80%
Lease Rate
$17.52 /SF/Yr
Expense Ratio
45.00%
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%
$389,040
Cap Rate 7%
$277,886
Cap Rate 9%
$216,133
Alternative Uses
Best Use
Multifamily LT 5
$307.7K
$269.3K – $359.0K
NOI $21,542 @ 7.0% cap · market cap 9.80%
Second Best
Apartment 5plus
$277.9K
$243.2K – $324.2K
NOI $19,452 @ 7.0% cap · market cap 8.85%
Theoretical Best
Office A
$525.2K
$459.5K – $612.7K
NOI $36,763 @ 7.0% cap · market cap 16.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
552
Businesses Nearby
Explore this area
Business Placement
Demographics for 17201, PA
27,556
Population
12,749
Households
2.2
Avg Household Size
39
Median Age
28%
College-Educated
91%
High-School Grad
19.1 sq mi
ZIP Area
1,443
Density / Sq Mi
$59,645
Median Household Income
$42,500
Median Earnings
$1,109
Median Rent
$206,800
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?
Duplex - Side-by-side income property with separated utilities and off-street parking.
Where is this duplex located?
The property is located at 738 & 742 FAIRGROUND AVENUE Chambersburg, PA.
What is the asking price?
The asking price for this property is $219,900.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with two three‑bedroom units; 2,166 square feet of total property size; Separate utilities for each unit
