Investments Sales Management

Traditional, Colonial

115 LOCUST STREET

HARRISBURG , PA 17101

MLS#: PADA2046402

$484,900

Status: Active
Listing number: PADA2046402
Listing provided by: Iron Valley Real Estate of York County
Listing agent phone: None
Last update: 16 days ago
On site: 6 months ago
Browse Properties
NONE AVAILABLE - Residential Income

Property

Beds

3

Full Baths

None

1/2 Baths

None

Year Built

1890

Sq.Footage

2,916

FULLY RENTED! Turnkey Downtown Harrisburg Multi-family Investment Cap Rate: 10.46%+ Welcome to an exceptional income-producing opportunity in the heart of Downtown Harrisburg’s thriving Riverfront district — just steps from the Susquehanna River, restaurants, state offices, and entertainment. This unique property includes two fully detached single-family homes on one deed — offering dual rental streams in one of the city’s most walkable and high-demand areas. 🔑 Property Highlights: • Front Home: 5 bed / 2.5 bath | Current Rent: 2,650 + 185.37 utility charge |Est. Rent: $2,900/month or more • Rear Home: 3 bed / 2 bath |Current Rent: 2,000 + variable charges for utilities| Est. Rent: $2,100/month or more • Total Monthly Rental Income:Current: 4,650 base + utility charges | Est: $5,000+ • Estimated Monthly PITI Payment: $3,459 • Estimated Monthly Cash Flow: $1,541+ 📊 Investment Snapshot: • Annual Gross Income: $60,000 • Estimated Annual Expenses (taxes, insurance, maintenance): $7,684 • Estimated Net Operating Income (NOI): $52,316 • Cap Rate: 10.46% (conservatively) | 11.25%+ with short-term rental conversion With positive cash flow, this is the kind of high-yield, low-risk asset investors chase — and rarely find in such a prime location. Just a few blocks from Riverfront Park, City Island, the Capitol Complex, and the area’s largest employers, appreciation potential here is as strong as the income stream. Whether you’re a first-time investor or building your portfolio, this is a rare chance to buy low and cash flow immediately in a city with long-term upside.

Features & Amenities

Interior

  • Other Interior Features

    Ceiling Fan(s), Kitchen Island, Recessed Lighting

  • Total Bedrooms

    3

  • Bathrooms

    N/A

  • Above Grade Finished Area

    2916.0

  • Basement YN

    YES

  • Cooling YN

    NO

  • Cooling

    Ceiling Fan(s), Ductless, Wall Unit(s), Electric

  • Fireplace YN

    NO

  • Heating YN

    YES

  • Heating

    Electric, Natural Gas, Baseboard, Radiant

  • Pet friendly

    No

Exterior

  • Garage

    No

  • Construction Materials

    Brick

  • Parking

    Off Street, Other

  • Patio and Porch Features

    Patio

  • Pool

    Yes

  • Pool Features

    None

  • Waterfront YN

    NO

  • View

    Water, City, River

Area & Lot

  • Lot Size(acres)

    0.03

  • Property Type

    Residential Income

  • Property Sub Type

    Duplex

  • Architectural Style

    Traditional, Colonial

Price

  • Sales Price

    $484,900

  • Tax Amount

    3884.0

  • Sq. Footage

    2, 916

  • Price/SqFt

    $166

HOA

  • Association

    No

School District

  • Elementary School

    N/A

  • Middle School

    N/A

  • High School

    HARRISBURG HIGH SCHOOL

Property Features

  • Foundation Details

    Stone

  • Senior Community YN

    NO

  • Sewer

    Septic Tank

  • Water Source

    Public

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Location

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DAUPHIN

Elementary School

Middle School

High School

HARRISBURG HIGH SCHOOL

Listing Courtesy of Adam Kautz , Iron Valley Real Estate of York County

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Agent Theresa Kehler

Owner, President, Investment Property Advisor

Theresa Kehler

Call Theresa today to schedule a private showing.

(215) 605-9647

theresa@tntrealestatesolutions.com


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FULLY RENTED! Turnkey Downtown Harrisburg Multi-family Investment Cap Rate: 10.46%+ Welcome to an exceptional income-producing opportunity in the heart of Downtown Harrisburg’s thriving Riverfront district — just steps from the Susquehanna River, restaurants, state offices, and entertainment. This unique property includes two fully detached single-family homes on one deed — offering dual rental streams in one of the city’s most walkable and high-demand areas. 🔑 Property Highlights: • Front Home: 5 bed / 2.5 bath | Current Rent: 2,650 + 185.37 utility charge |Est. Rent: $2,900/month or more • Rear Home: 3 bed / 2 bath |Current Rent: 2,000 + variable charges for utilities| Est. Rent: $2,100/month or more • Total Monthly Rental Income:Current: 4,650 base + utility charges | Est: $5,000+ • Estimated Monthly PITI Payment: $3,459 • Estimated Monthly Cash Flow: $1,541+ 📊 Investment Snapshot: • Annual Gross Income: $60,000 • Estimated Annual Expenses (taxes, insurance, maintenance): $7,684 • Estimated Net Operating Income (NOI): $52,316 • Cap Rate: 10.46% (conservatively) | 11.25%+ with short-term rental conversion With positive cash flow, this is the kind of high-yield, low-risk asset investors chase — and rarely find in such a prime location. Just a few blocks from Riverfront Park, City Island, the Capitol Complex, and the area’s largest employers, appreciation potential here is as strong as the income stream. Whether you’re a first-time investor or building your portfolio, this is a rare chance to buy low and cash flow immediately in a city with long-term upside.

115 LOCUST STREET

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