Turnkey Duplex with On-Site
For Sale
$360,000
743-745 W 3RD Street, Williamsport, PA 17701
MULTI_FAMILY - Williamsport, PA
Property Size3,213 SF
Lot Size0.17 Acres
Price / SF$112.04
Days on Market50
Property Features for 743-745 W 3RD Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R3
Bedrooms
9
Rooms
Bedroom 5, Bedroom 7, Bedroom 8, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 6, Bedroom 1, Bedroom 9
Parking features
Alley
View
City
Elementary school district
Williamsport
Middle school district
Williamsport
High school district
Williamsport
Subdivision
WILLIAMSPORT CITY
Standard status
Active
APN
65+,003.0-0337.00-000+
Size
3,213 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
3511
Utilities
Heating system
Hot Water(Heating), Natural Gas
Water source
Public
Building Details
Year built
1901
Floors in Building
2
Number of units
2
Flooring type
Linoleum, Wood
Building materials
Frame, Wood Siding
Roof type
Shingle
Listing Agency:
Iron Valley Real Estate North Central PA
(570) 979-1002
Listed By:
Dawn Dyer · License #RS343310
(570) 916-8266
Added: Jul 14
Changed: Jul 29
Last Checked: Sep 1 at 6:06AM
MLS# WB-104371
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 fully rented duplex includes two furnished apartments with a total of 9 bedrooms and 4 full bathrooms. Unit 743 is a renovated 5-bedroom, 2-bath apartment with an open-concept layout and a stainless steel kitchen with modern finishes. Unit 745 is a spacious 4-bedroom, 2-bath Victorian-style apartment featuring hardwood floors and large bedrooms. Both units offer free on-site laundry, and all utilities are included except internet.
Located in Williamsport, PA and zoned R3, the property is set up for tenant convenience with a large off-street parking lot. It is listed for sale at 743-745 W 3RD Street in Lycoming County.
The building is positioned as a turnkey rental property with two separate furnished units and shared practical amenities designed to support day-to-day occupancy.
Located in Williamsport, PA and zoned R3, the property is set up for tenant convenience with a large off-street parking lot. It is listed for sale at 743-745 W 3RD Street in Lycoming County.
The building is positioned as a turnkey rental property with two separate furnished units and shared practical amenities designed to support day-to-day occupancy.
Key Highlights
- Fully rented student housing with 2 furnished apartments totaling 9 bedrooms and 4 full baths
- 5‑bedroom, 2‑bath unit with renovated open‑concept layout and stainless steel kitchen
- 4‑bedroom, 2‑bath Victorian‑style unit with hardwood floors and large bedrooms
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
$26,213
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
7.28%
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%
$524,260
$524.3K
Cap Rate 7%
$374,471
$374.5K
Cap Rate 9%
$291,256
$291.3K
Market Conditions
NOI Build-Up for 3,213 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
$40.5K $12.60/SF
− Vacancy
−$3.0K −$0.95/SF
EGI
$37.4K $11.66/SF
− OpEx
−$11.2K −$3.50/SF
NOI
$26.2K $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%
$524,260
Cap Rate 7%
$374,471
Cap Rate 9%
$291,256
Alternative Uses
Best Use
Multifamily LT 5
$374.5K
$327.7K – $436.9K
NOI $26,213 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$347.3K
$303.9K – $405.2K
NOI $24,309 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$692.4K
$605.9K – $807.8K
NOI $48,470 @ 7.0% cap · market cap 13.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
957
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
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 - Fully rented duplex in Williamsport with two furnished apartments, free on-site laundry, and a large off-street parking lot.
Where is this duplex located?
The property is located at 743-745 W 3RD Street Williamsport, PA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Fully rented student housing with 2 furnished apartments totaling 9 bedrooms and 4 full baths; 5‑bedroom, 2‑bath unit with renovated open‑concept layout and stainless steel kitchen; 4‑bedroom, 2‑bath Victorian‑style unit with hardwood floors and large bedrooms
