Courtesy of: Adam Kautz, Iron Valley Real Estate of York County
(MLS# IRONVLYK1)
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About 115 LOCUST STREET, Harrisburg, Pennsylvania, 17101
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.
Street Address: 115 LOCUST STREET
City: Harrisburg
State: Pennsylvania
Postal Code: 17101
Directions:
Take Shannon St to S Cameron St
39 sec (0.1 mi)
Take S 2nd St to Pine St – 5 min (1.1 mi)
Turn left onto Pine St 58 sec (0.1 mi)
Turn left onto N Front St 22 sec (499 ft)
Turn left onto Locust St
Destination will be on the right
Property Information :
Listing Status: Active
Size: 2,916 Sqft
MLS #: PADA2046402
Price: $484,900
Tax Amount: 3884
Construction Status: Built in 1890
Last Modified : Dec 8 2025 6:32PM
Courtesy of: Adam Kautz, Iron Valley Real Estate of York County (MLS# IRONVLYK1)