115 Locust Street Harrisburg, PA 17101

$489,900
0.03
Acres
2,916
SQFT
168
$/SQFT
$489,900
2,916   sf
$168 / sf
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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 conversionWith 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.

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 conversionWith 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.

  • Neighborhood
  • Type
  • County
    Dauphin
  • Area
    City of Harrisburg
  • Tax Amount
    $3,884
  • Status
    Active
  • Listing #
    PADA2046402
  • Built
    1890
  • Lot Size
    0.03
  • Listed on site
    176 days
  • Listing Agent Id
    300462592497

Listed by:
Iron Valley Real Estate of York County

Source:
BRIGHT MLS

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Property details

Community Features

  • No HOA
  • No Adult Community

Property Features

  • No Builder Restrictions
  • Historic Property

View

  • City view
  • River View

Exterior features

  • No Pool
  • Parking Off-Street
  • Patio
  • Basement

Interior Features

  • Formal Dining
  • Gas Oven
  • Wood Floors
  • Heat Electric

Style

  • Traditional
  • Colonial
  • Duplex
  • End Unit

Property History

DateDays AgoEventNew Price
Oct 16, 20252 mos agoPrice decreased10,000 (2%)$489,900
Jun 12, 20256 mos agoNew on market$499,900
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