$ 499,900
-
$499,900
Price -
3
Bed - Bath
-
2,916
SqFt
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About the Listing IRONVLYK1 - 3268893
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.
Listing Highlights for 115 Locust St
Status
Active
Days on Site
90
Property Type
Multi-Family
MLS ®
PADA2046402
Year Built
1890
Total Square Footage
2,916
Lot/Acreage
0.03
County
Dauphin
Neighborhood
None Available
School District
Harrisburg City
High School
Harrisburg High School
Interior Details
- Bedrooms: 3
- Bathrooms: Full
- Appliances: Built-In Microwave, Oven/Range - Electric, Oven/Range - Gas, Refrigerator, Dishwasher
- Air Cond: Wall Unit,Ductless/Mini-Split
- Heating: Radiator,Baseboard - Electric
- Fireplaces:
- Floor: Hardwood,Tile/Brick
- Above Ground Sq Ft: 2916
- Below Ground Sq Ft: 0
- Basement: Full
- Other: Ceiling Fan(s),Kitchen - Island,Recessed Lighting,Upgraded Countertops,Wood Floors,Additional Stairway,Bathroom - Walk-In Shower,Floor Plan - Traditional,Formal/Separate Dining Room,Kitchen - Gourmet
- Water: Public
Exterior Details
- Lot Description: Not New Construction,Horse Property: No
- Garage Capacity: N/A
- Zoning: DOWNTOWN CENTER
- Roof: Rubber,Asphalt
- Others: Sidewalks,Street Lights,Excellent
- Sewer: Public Septic
- Parking Features: Off Street
Financial Details
- Tax Amount: $3,884
- Taxes w/Assessments: N/A
- Tax/Property ID: N/A
- Tax Year: 2024
Payment Calculator
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Listing Location
Questions About..
115 Locust St Harrisburg, PA 17101
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