115 Locust St, Harrisburg, PA 17101
Local realty services provided by:ERA OakCrest Realty, Inc.
115 Locust St,Harrisburg, PA 17101
$499,900
- 3 Beds
- - Baths
- 2,916 sq. ft.
- Multi-family
- Active
Listed by:adam kautz
Office:iron valley real estate of york county
MLS#:PADA2046402
Source:BRIGHTMLS
Price summary
- Price:$499,900
- Price per sq. ft.:$171.43
About this home
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.
Contact an agent
Home facts
- Year built:1890
- Listing ID #:PADA2046402
- Added:116 day(s) ago
- Updated:October 06, 2025 at 01:37 PM
Rooms and interior
- Bedrooms:3
- Living area:2,916 sq. ft.
Heating and cooling
- Cooling:Ductless/Mini-Split, Wall Unit
- Heating:Baseboard - Electric, Electric, Natural Gas, Radiator
Structure and exterior
- Roof:Asphalt, Rubber
- Year built:1890
- Building area:2,916 sq. ft.
- Lot area:0.03 Acres
Schools
- High school:HARRISBURG HIGH SCHOOL
Utilities
- Water:Public
- Sewer:Public Septic
Finances and disclosures
- Price:$499,900
- Price per sq. ft.:$171.43
- Tax amount:$3,884 (2024)
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