All Forum Posts by: Jean Moynahan

This has changed remarkably since the rise in rates.

Once you cross 3rd/4th Street, neighborhood character changes from yuppie/young professional to working class/long term resident then to little seedy/keep your bike in the house. City officials wax grandiloquent about the federal courthouse and the revitalization it will bring, but most long term residents think otherwise.  One of the issues  affecting harrisburg is that because it is such a small city, crime can happen anywhere.  People warn you about allison hill, but  know of many startling cases involving robberies near the capitol, some literally in front  of building.  

Harrisburg is similar to Trenton in that it relies upon the state bureacracy to provide stable long term jobs, government work is the city's economic lifeline.Transport hubs also provide a fair living for blue collar folk.  Without these twin pillars, the city would have faded into complete obscurity.  So harrisburg, an otherwise irrelevant city in the heartland of pa, exists in an economic purgatory.   It is sustained by virtue of geographical proximity and bureaucratic largesse, buthindered by an inept local government, struggling urban population, poor education system, and high crime, at lest for its size. 

I would buy outside the city if I were you.

@Kyle McCorkel

How do you think I should market it? Self-list it on MLS?

Originally posted by @Winston Covington:

Hi Jean, I find that figure to be on the low side. Especially considering that single family homes of similar size in the immediate area are going in the $ 380,000 to $ 400,000 range.

local realtors have told me they would sell it for btw 230-260. One tried to buy it for herself, told me she would "take it off my hands for 210k". Even with a 10 percent caprate (area average cap is 7%), i thought i could sell the duplex for 300k, but realtors said it is unlikely because the area is residential and homeowners outnumber investors. the feeling i get from some local realtors is that they either don't have much experience with multis or they think their time would be better spent on quick selling SFH.I guess I do not blame them, but it is discouraging for them to insinuate my duplex is a burden to sell.

Thanks for the message,Winston.  One realtor did quote me at 230k for the duplex based off prevailing comps.    Doubt an appraiser will be able to do anything about that.

Hello All,

First timer here, my questions regards a duplex I plan on selling. Getting different advice from diff realtors on selling price and strategy. The sfh homes in the area fetch much higher prices than multi families. Because there are sparse multi families in the area, comps vary widely, from high crime urban areas  to rural farmhouses. Makes it difficult to get accurate value because of small sample size.

Some info

Location, affluent west shore suburb of Harrisburg, low crime,  family oriented neighborhood

Ranch style, 2400 Square Feet total, everything updated by hvac system (works fine)

Each unit has 2 bed 1.5 bath, one is 1400 sq other is 1000

Rent is 1450 one side, 1500 the other, renters pay all utilities

Insurance, maintenance, and yard upkeep total 3000 a year

Good renter clientele, most are doctors or nurses, close local hospitals

Both have separate driveway and yard 

Located in well of neighboorhood in low tax hampden township, taxes are 3500 a year

The duplex was grandfathered, out of the 400+ houses in the  development, there are only 5 multifamilies. 4 houses down the street sold for between 380-400k in the last 4 months. Their sq ft and size/quality are comparable to the duplex. 

The township is supportive of conversion to sfh, spoke with their rep and said because the way the duplex was constructed (rancher) permits are easy to attain. Conversion also estimated to be smooth because of architectural style. Total cost of conversion estimated to 15k.

  In a case where duplexes are rare in the area, and comps are unreliable, sample size too small, etc, what would you do?  Convert and sell as a single family or sell as a  duplex. I am  moving to Fl and need to sell it,no remote management for me.