Investor’s Dream! This well-maintained two-unit property in the heart of Middletown offers strong cash flow and long-term upside. Each unit is currently leased to excellent, long-term tenants on a month-to-month basis, providing flexibility for future owner-occupancy or rental increases. The top and bottom units total 1,460 sq ft, with the upstairs unit renting for $775/month and the downstairs for $660/month—both well below market value with potential to increase by several hundred dollars each. Each unit has separate electric and heat, and the property features natural gas hot water. Tenants take great care of the home, making this a low-maintenance, income-producing opportunity. Whether you're looking to grow your rental portfolio or live in one unit and rent the other, this property offers versatility and value. See MLS documents for copies of both leases. Don’t miss this opportunity—schedule your showing today!
For sale
Price cut: $1K (7/14)
$184,000
123 E Water St, Middletown, PA 17057
3beds
--baths
1,460sqft
Est.:
Duplex
Built in 1900
-- sqft lot
$-- Zestimate®
$126/sqft
$-- HOA
What's special
- 67 days
- on Zillow |
- 915 |
- 53 |
Zillow last checked: 7 hours ago
Listing updated: July 14, 2025 at 05:02am
Listed by:
Judah Hoover 717-330-6648,
Keller Williams of Central PA (717) 761-4300,
Listing Team: Hoover Lynam And Associates
Source: Bright MLS,MLS#: PADA2046420

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
Basement
- Area: 0
Heating
- Baseboard, Electric
Cooling
- None
Appliances
- Included: Gas Water Heater
Features
- Has fireplace: No
Interior area
- Total structure area: 1,460
- Total interior livable area: 1,460 sqft
Property
Parking
- Parking features: On Street
- Has uncovered spaces: Yes
Accessibility
- Accessibility features: None
Features
- Pool features: None
Lot
- Size: 3,485 Square Feet
Details
- Additional structures: Above Grade, Below Grade
- Parcel number: 420370590000000
- Zoning: R03 2 STORY
- Zoning description: R03 2 Story
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Victorian
- Property subtype: Duplex
Materials
- Brick
- Foundation: Block
Condition
- New construction: No
- Year built: 1900
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Cable Connected, Natural Gas Available
Community & HOA
Community
- Subdivision: None Available
Location
- Region: Middletown
- Municipality: MIDDLETOWN BORO
Financial & listing details
- Price per square foot: $126/sqft
- Tax assessed value: $60,500
- Annual tax amount: $2,682
- Date on market: 6/12/2025
- Listing agreement: Exclusive Agency
- Listing terms: Conventional,Cash,FHA,VA Loan
- Ownership: Fee Simple
- Total actual rent: 17220
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