Updated Four-Unit
For Sale
$374,900
9 HAMMAKER ST, Highspire, PA 17034
Three occupied units accompany a furnished vacancy suited to an owner-occupant or new tenant.
Property Size2,469 SF
Price / SF$151.84
Days on Market48
Property Features for 9 HAMMAKER ST
General Information
Standard status
Active
Size
2,469 SF
Property subtype
Multi-Family
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Gross Income
$48,600
Multifamily Units
4
Building Details
Buildings
1
Listing Agency:
Harrisburg Property Management Group
(717) 315-8228
Listed By:
Cameron Steven Norman
(717) 315-8228
Source:
Palmerharned
Added: Jul 17
Changed: Aug 30
Last Checked: Aug 31 at 4:57PM
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 Harrisburg Property Management Group
Investment Insights
Based on property information with market context.
This 2,469-square-foot quadplex contains four residential units and has been updated with modern finishes. Three units are occupied, while the remaining unit is vacant and furnished for immediate use. Unit 1 has supported short- to mid-term rental use and is currently furnished, adding flexibility for an owner-occupant or leasing strategy.
Located at 9 Hammaker Street in Highspire, Pennsylvania, the property provides access to major transit routes, local dining, shopping, Penn State Harrisburg, and Harrisburg International Airport. The building’s four-unit configuration accommodates both continued rental operations and personal occupancy within the same property.
Located at 9 Hammaker Street in Highspire, Pennsylvania, the property provides access to major transit routes, local dining, shopping, Penn State Harrisburg, and Harrisburg International Airport. The building’s four-unit configuration accommodates both continued rental operations and personal occupancy within the same property.
Key Highlights
- Four‑unit residential building totaling 2,469 square feet
- Three units currently occupied
- One vacant, furnished unit available for immediate use
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
$22,038
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%
$440,760
$440.8K
Cap Rate 7%
$314,829
$314.8K
Cap Rate 9%
$244,867
$244.9K
Market Conditions
NOI Build-Up for 2,469 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
$34.1K $13.80/SF
− Vacancy
−$2.6K −$1.05/SF
EGI
$31.5K $12.75/SF
− OpEx
−$9.4K −$3.83/SF
NOI
$22.0K $8.93/SF
Area
Dauphin County, PA
Vacancy
7.60%
Lease Rate
$13.80 /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%
$440,760
Cap Rate 7%
$314,829
Cap Rate 9%
$244,867
Alternative Uses
Best Use
Multifamily LT 5
$314.8K
$275.5K – $367.3K
NOI $22,038 @ 7.0% cap · market cap 5.88%
Second Best
Apartment 5plus
$280.6K
$245.5K – $327.3K
NOI $19,639 @ 7.0% cap · market cap 5.24%
Theoretical Best
Specialty Retail
$4.55M
$3.98M – $5.31M
NOI $318,316 @ 7.0% cap · market cap 84.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
204
Businesses Nearby
Explore this area
Business Placement
Demographics for 17034, PA
2,765
Population
1,553
Households
1.8
Avg Household Size
40
Median Age
20%
College-Educated
92%
High-School Grad
0.8 sq mi
ZIP Area
3,456
Density / Sq Mi
$51,717
Median Household Income
$41,868
Median Earnings
$993
Median Rent
$120,100
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?
Quadplex - Three occupied units accompany a furnished vacancy suited to an owner-occupant or new tenant.
Where is this quadplex located?
The property is located at 9 HAMMAKER ST Highspire, PA.
What is the asking price?
The asking price for this property is $374,900.
What are key features of this property?
This property features: Four‑unit residential building totaling 2,469 square feet; Three units currently occupied; One vacant, furnished unit available for immediate use
