824 Elmwood St, State College, PA, 16801
About This Home
Secure a high-performance asset in the heart of Happy Valley. This 1.17-acre creek-front property features two income-producing duplexes (4 units total) with guaranteed cash flow through July 31, 2026. The Investment at a Glance: • Total Monthly Revenue: $5,725 ($68,700 Gross Annual) • Proven Stability: 100% occupied with all leases secured through Summer 2026 • Low Maintenance: Rear duplex features a brand-new shingle roof (2025) • Prime Location: Minutes to Penn State University, Lemont, and Rt. 322. Backs directly to Spring Creek Property Breakdown: • 824 & 828 Elmwood: All-brick duplex featuring two spacious 5BR/2BA units with covered porches, private basements, and a separate laundry room located in the rear of the building. Combined rent: $3,275/month. • 830 & 832 Elmwood: Wood-sided duplex featuring one 1BR unit and one 4BR unit. Combined rent: $2,450/month. Rarely does a property combine this level of acreage, water views, and turnkey rental history in the State College market. Don’t miss this opportunity to add a strong performing asset to your investment portfolio.
Getting Around
Car-Dependent
Some Transit
Somewhat BikeableSchools
Construction
Condition
- Property condition: Excellent
- Year built: 1937
Materials
- Foundation: Other
- Roof: Shingle
- Construction materials: Brick
Type & Style
- Home type: MultiFamily
- Architectural style: Traditional
- Property subType: Quadruplex
Interior
Appliances
- Appliances included: Gas Water Heater
Basement
- Area: 0
Basement
- Has basement: Yes
- Basement: Full
Bedrooms & Bathrooms
- Bedrooms: 15
- Bathrooms: 6
Features
- Attic,Built-in Features,9'+ Ceilings,Plaster Walls
- Flooring: Hardwood,Vinyl,Laminate,Wood
Heating & Cooling
- Heating features: Hot Water,Natural Gas
- Cooling features: None
Interior Area
- Total structure area: 7,680
- Total interior livable area: 7,680 sqft
Property
Accessibility
- Accessibility features: None
Details
- Parcel number: 19014,017A,0000
- Zoning: V
- Special condition: Standard
Features
- Pool features: None
- Patio & porch: Porch,Roof
- Exterior features: Balcony
- Has view: Yes
- View description: Creek/Stream,Trees/Woods
- Has water view: Yes
- Water view: Creek/Stream
Lot
- Lot size: 1.17 Acres
- Features: Stream/Creek
- Lot size dimensions: 0.00 x 0.00
Parking
- Parking features: Asphalt,Driveway,Off Street,Parking Lot
- Has uncovered spaces: Yes
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Lightning
- Winter Weather
- Inland Flooding
- Strong Wind
How This Home’s Risks Compare
FEMA Declared Disasters Across Pennsylvania Counties
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $4,424 | $53,088 |
| Home Insurance * | $244 | $2,928 |
| Property Taxes | $758 | $9,096 |
| Electricity | $842 | $10,111 |
| Total | $6,268 | $75,216 |
Income You'd Need if You Spent...
Pennsylvania FAIR Plan Programs
Insurance Placement Facility of Pennsylvania/FAIR Plan
Wildfire
HailWindHow Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-03-06 | Listed for sale | $875,000 |
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