Two-Unit Duplex with
For Sale
$220,000
99 N 17TH STREET, Harrisburg, PA 17103
Corner-lot duplex with separate entrances, individual electric meters, and a mix of one- and three-bedroom apartments.
Property Size2,260 SF
Price / SF$97.35
Days on Market9
Property Features for 99 N 17TH STREET
General Information
Standard status
Active
Size
2,260 SF
Property subtype
Duplex
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1907
Buildings
1
Listing Agency:
Iron Valley Real Estate of Central PA
(717) 309-4133
Listed By:
MICHAEL T CHAN · License #5000977
(717) 309-4133
Source:
Cummingsrealtors
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 12 at 5:37AM
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 Iron Valley Real Estate of Central PA
Investment Insights
Based on property information with market context.
This 1907 duplex contains two apartments with distinct layouts. The first-floor residence offers one bedroom, one bathroom, and front, rear, and side entrances. The upper apartment includes three bedrooms, one bathroom, a side entrance, and a second-floor balcony. The building has separate electrical meters, two 100-amp panel boxes, electric baseboard heat, and two electric water heaters located in the basement.
The property occupies a corner lot at 99 N 17TH STREET in Harrisburg, Pennsylvania. The first-floor apartment is occupied by a long-term tenant, while the second-floor apartment is scheduled to be vacant 9/30. Tenants pay their own electric service; the owner covers water, sewer, and trash.
The property occupies a corner lot at 99 N 17TH STREET in Harrisburg, Pennsylvania. The first-floor apartment is occupied by a long-term tenant, while the second-floor apartment is scheduled to be vacant 9/30. Tenants pay their own electric service; the owner covers water, sewer, and trash.
Key Highlights
- 2,260‑square‑foot duplex on a corner lot
- First‑floor 1‑bedroom, 1‑bath apartment with front, rear, and side entrances
- Second‑floor 3‑bedroom, 1‑bath apartment with a balcony
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
$20,172
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
9.17%
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%
$403,440
$403.4K
Cap Rate 7%
$288,171
$288.2K
Cap Rate 9%
$224,133
$224.1K
Market Conditions
NOI Build-Up for 2,260 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
$31.2K $13.80/SF
− Vacancy
−$2.4K −$1.05/SF
EGI
$28.8K $12.75/SF
− OpEx
−$8.6K −$3.83/SF
NOI
$20.2K $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%
$403,440
Cap Rate 7%
$288,171
Cap Rate 9%
$224,133
Alternative Uses
Best Use
Multifamily LT 5
$288.2K
$252.2K – $336.2K
NOI $20,172 @ 7.0% cap · market cap 9.17%
Second Best
Apartment 5plus
$256.8K
$224.7K – $299.6K
NOI $17,977 @ 7.0% cap · market cap 8.17%
Theoretical Best
Specialty Retail
$4.16M
$3.64M – $4.86M
NOI $291,371 @ 7.0% cap · market cap 132.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
898
Businesses Nearby
Explore this area
Business Placement
Demographics for 17103, PA
12,225
Population
5,345
Households
2.3
Avg Household Size
33
Median Age
18%
College-Educated
86%
High-School Grad
1.9 sq mi
ZIP Area
6,434
Density / Sq Mi
$41,383
Median Household Income
$33,608
Median Earnings
$933
Median Rent
$113,100
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?
Duplex - Corner-lot duplex with separate entrances, individual electric meters, and a mix of one- and three-bedroom apartments.
Where is this duplex located?
The property is located at 99 N 17TH STREET Harrisburg, PA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: 2,260‑square‑foot duplex on a corner lot; First‑floor 1‑bedroom, 1‑bath apartment with front, rear, and side entrances; Second‑floor 3‑bedroom, 1‑bath apartment with a balcony
