115 Locust St Harrisburg, PA 17101
Downtown Harrisburg NeighborhoodEstimated payment $3,093/month
Highlights
- Gourmet Kitchen
- Dual Staircase
- Stream or River on Lot
- River View
- Colonial Architecture
- Traditional Floor Plan
About This Home
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 | Est. Rent: $2,900/month or more
• Rear Home: 3 bed / 2 bath | Est. Rent: $2,100/month or more
• Total Monthly Rental Income: $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.
Live in one, rent the other — or lease both for maximum ROI. 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 Agent
Iron Valley Real Estate of York County License #RS344475 Listed on: 06/12/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $3,884
Year Built
- Built in 1890
Lot Details
- 1,120 Sq Ft Lot
- Historic Home
- Property is in excellent condition
Parking
- Off-Street Parking
Property Views
- River
- City
Home Design
- Duplex
- Colonial Architecture
- Traditional Architecture
- Brick Exterior Construction
- Stone Foundation
- Asphalt Roof
- Rubber Roof
Interior Spaces
- Walk-in Shower
- 2,916 Sq Ft Home
- Traditional Floor Plan
- Dual Staircase
- Ceiling Fan
- Recessed Lighting
- Formal Dining Room
- Basement Fills Entire Space Under The House
Kitchen
- Gourmet Kitchen
- Gas Oven or Range
- <<builtInMicrowave>>
- Dishwasher
- Kitchen Island
- Upgraded Countertops
Flooring
- Wood
- Tile or Brick
Outdoor Features
- Stream or River on Lot
- Patio
Schools
- Harrisburg High School
Utilities
- Ductless Heating Or Cooling System
- Cooling System Mounted In Outer Wall Opening
- Radiator
- Electric Baseboard Heater
- Natural Gas Water Heater
- Public Septic
Community Details
- 2 Units
- 1 Vacant Unit
Listing and Financial Details
- Assessor Parcel Number 04-032-015-000-0000
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $4,784 | $99,200 | $13,700 | $85,500 |
| 2024 | $4,636 | $99,200 | $13,700 | $85,500 |
| 2023 | $4,636 | $99,200 | $13,700 | $85,500 |
| 2022 | $4,536 | $99,200 | $13,700 | $85,500 |
| 2021 | $4,536 | $99,200 | $13,700 | $85,500 |
| 2020 | $4,536 | $99,200 | $13,700 | $85,500 |
| 2019 | $4,439 | $99,200 | $13,700 | $85,500 |
| 2018 | $4,340 | $99,200 | $13,700 | $85,500 |
| 2017 | $4,340 | $99,200 | $13,700 | $85,500 |
| 2016 | $3,183 | $99,200 | $13,700 | $85,500 |
| 2015 | -- | $99,200 | $13,700 | $85,500 |
| 2014 | -- | $99,200 | $13,700 | $85,500 |
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/12/2025 06/12/25 | For Sale | $499,900 | +74.2% | $171 / Sq Ft |
| 11/05/2018 11/05/18 | Sold | $287,000 | -2.7% | $98 / Sq Ft |
| 10/09/2018 10/09/18 | Pending | -- | -- | -- |
| 04/27/2018 04/27/18 | For Sale | $295,000 | -- | $101 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | $287,000 | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $11,913 | FHA | |
| Open | $281,801 | FHA |
Source: Bright MLS
MLS Number: PADA2046402
APN: 04-032-015
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