115 LOCUST ST
HARRISBURG, PA 17101

$489,900

Number of Units: 2
Type: Multi-Unit Residential
Listing #pada2046402
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 Courtesy of: Iron Valley Real Estate of York County (717) 316-8777
Property Features
Location Information
County: DAUPHIN-PA
Municipality: CITY OF HARRISBURG
Latitude: 40.26036
Longitude: -76.88439
MLS Area: City of Harrisburg (14001)
Subdivision: NONE AVAILABLE
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
Interior Features
Interior: 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
Has Dining Room: Yes
Has Fireplace: No
Heating: Radiator, Baseboard - Electric
Heating Fuel: Electric, Natural Gas
Cooling: Wall Unit, Ductless/Mini-Split, Electric
Floors: Hardwood, Tile/Brick
Water Heater: Natural Gas
Appliances: Built-In Microwave, Oven/Range - Electric, Oven/Range - Gas, Refrigerator, Dishwasher
Basement Description: Full
Has Basement: Yes
Total Number of Units: 2
Accessibility: None
Exterior Features
Style: Traditional, Colonial
Is New Construction: No
Construction: Brick
Exterior: Sidewalks, Street Lights
Foundation: Stone
Roof: Rubber, Asphalt
Septic or Sewer: Public Septic
Electric: Circuit Breakers
Has Garage: No
Patio / Deck Description: Patio
Is a Horse Property: No
Site Description: River
Lot Size in Acres: 0.03
Lot Size in Sq. Ft.: 1,120
Zoning: DOWNTOWN CENTER
Condition: Excellent
Has Waterfront: No
Has Water View: Yes
Has Water Access: No
View Description: City, River
School
School District: HARRISBURG CITY
Additional Information
ListDate: 2025-06-12 00:00:00.0
Possession: Settlement
Property Type: RI
Property SubType: End of Row/Townhouse
Year Built: 1890
Status: Active
Active Adult Community: No
Pets Allowed: No
Tax Year: 2024
Tax Amount: $3,884
Ownership Interest: Fee Simple
Inclusions: All owner owned appliances
Exclusions: Tenant Personal Items in Unit 117
Available For Lease: No
Square Feet Source: Estimated
Is A Condo: No


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Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
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BRIGHT(MRIS/Trend) data last updated at December 5, 2025, 12:50 AM ET