Remodeled Single-Family Rental
For Sale
$189,800
1304 1/2 W Gordon, Allentown, PA 18102
ResidentialIncome, Allentown City, PA
Property Size1,318 SF
Lot Size0.02 Acres
Price / SF$144.01
Days on Market71
Property Features for 1304 1/2 W Gordon
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-Mh
Bedrooms
4
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1, Bedroom 3, Bedroom 4, Bedroom 2
Parking features
Off Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Rt. 22 to 15th St., South, East on Gordon. 1304.5 on right.
Standard status
Active
APN
549761808319 1
Size
1,318 SF
Lot size
0.02 Acres
Taxes and HOA fees
Tax Annual Amount
2036
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Other (Heating), Steam
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1905
Floors in Building
3
Number of units
1
Building materials
Brick
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
(610) 435-1800
Listed By:
Mark T. Baechle
(610) 657-5825
Added: Jun 20
Changed: Aug 19
Last Checked: Aug 29 at 3:06AM
MLS# 779378
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Move-in ready residential income property featuring a remodeled 4-bedroom interior with huge living and kitchen/dining areas. The home has newly stained and sealed hardwood floors and easy-clean flooring throughout. Recent updates include a newer and/or revitalized rubber roof, refreshed kitchen elements, and brand-new dining room flooring and select bathroom fixtures, windows, and door locks. Exterior improvements include a newly remodeled covered front porch and a fenced-in backyard.
Located in Allentown City, Pennsylvania, the property is across from a day-care center and the newest elementary school in Allentown. Zoning is listed as R-Mh, and a clear CO is to be provided.
Additional reported features include gas heat and hot water, along with low taxes. The seller is a real estate broker.
Located in Allentown City, Pennsylvania, the property is across from a day-care center and the newest elementary school in Allentown. Zoning is listed as R-Mh, and a clear CO is to be provided.
Additional reported features include gas heat and hot water, along with low taxes. The seller is a real estate broker.
Key Highlights
- Move‑in ready 4‑bedroom, 1‑bath remodeled home with public sewer and public water
- Brick construction with steam and natural gas heating; wall unit(s) cooling
- Off‑street parking plus fenced‑in backyard
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,161
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$243,220
$243.2K
Cap Rate 7%
$173,729
$173.7K
Cap Rate 9%
$135,122
$135.1K
Market Conditions
NOI Build-Up for 1,318 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$23.7K $18.00/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$22.1K $16.78/SF
− OpEx
−$9.9K −$7.55/SF
NOI
$12.2K $9.23/SF
Area
Allentown, PA
Vacancy
6.80%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$243,220
Cap Rate 7%
$173,729
Cap Rate 9%
$135,122
Alternative Uses
Best Use
Apartment 5plus
$173.7K
$152.0K – $202.7K
NOI $12,161 @ 7.0% cap · market cap 6.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$258.9K
$226.6K – $302.1K
NOI $18,125 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
2,930
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Move-in ready 4-bedroom remodeled home with newly sealed hardwood floors, fenced yard, and newer rubber roof.
Where is this single family property located?
The property is located at 1304 1/2 W Gordon Allentown, PA.
What is the asking price?
The asking price for this property is $189,800.
What are key features of this property?
This property features: Move‑in ready 4‑bedroom, 1‑bath remodeled home with public sewer and public water; Brick construction with steam and natural gas heating; wall unit(s) cooling; Off‑street parking plus fenced‑in backyard
