Renovated Duplex with Basement
New
For Sale
$249,900
138 Sanders, Pen Argyl, PA 18072
ResidentialIncome, PEN ARGYL, PA
Property Size1,300 SF
Price / SF$192.23
Days on Market3
Property Features for 138 Sanders
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
Sr-Suburban Residential
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 1, Bedroom 2, Bathroom 1, Bedroom 3
Parking
2
Parking features
On Street
Subdivision
Not in Development
Elementary school district
Pen Argyl
Middle school district
Pen Argyl
High school district
Pen Argyl
Directions
A-33 South (towards the Wind Gap area).Exit for Wind Gap: Take the exit toward Wind Gap from PA-33 S.Local Access: Turn onto N Broadway, then use Alpha Road to connect to PA-512 N / Pennsylvania Ave.
Standard status
Active
APN
E8SE1 2 18A 0626
Size
1,300 SF
Taxes and HOA fees
Tax Annual Amount
3117
Utilities
Sewer type
Holding Tank
Heating system
Electric (Heating), Baseboard, Oil
Cooling system
Ceiling Fan(s), Wall Unit(s)
Water source
Public
Building Details
Year built
1900
Number of units
2
Building materials
Frame, VinylSiding
Listing Agency:
Realty One Group Supreme
(610) 321-3730
Listed By:
Nathanael J. Boykin
(215) 767-4881
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 11 at 1:06AM
MLS# 784159
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.
This 1,300-square-foot duplex is arranged as separate upper and lower residences. The first-floor apartment includes two bedrooms and one bathroom, with updated paint, carpet, and laminate flooring. Upstairs, the one-bedroom, one-bathroom unit has a long-term tenant in place. A separate basement entrance provides additional space suitable for laundry or storage, while the backyard adds private outdoor area to the property.
Built in 1900, the home features frame construction with vinyl siding, public water, and a holding-tank sewer system. Parking is available on the street. The property is zoned Sr-Suburban Residential and includes electric heating, baseboard heating, oil heating, ceiling fans, and wall-unit cooling.
Built in 1900, the home features frame construction with vinyl siding, public water, and a holding-tank sewer system. Parking is available on the street. The property is zoned Sr-Suburban Residential and includes electric heating, baseboard heating, oil heating, ceiling fans, and wall-unit cooling.
Key Highlights
- Two‑unit duplex with 1,300 square feet of property size
- First‑floor 2‑bedroom, 1‑bathroom unit recently updated with paint, carpet, and laminate flooring
- Second‑floor 1‑bedroom, 1‑bathroom unit has a long‑time tenant in place
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
$8,594
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
3.44%
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%
$171,880
$171.9K
Cap Rate 7%
$122,771
$122.8K
Cap Rate 9%
$95,489
$95.5K
Market Conditions
NOI Build-Up for 1,300 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
$13.3K $10.20/SF
− Vacancy
−$983 −$0.76/SF
EGI
$12.3K $9.44/SF
− OpEx
−$3.7K −$2.83/SF
NOI
$8.6K $6.61/SF
Area
Northampton County, PA
Vacancy
7.41%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
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%
$171,880
Cap Rate 7%
$122,771
Cap Rate 9%
$95,489
Alternative Uses
Best Use
Multifamily LT 5
$122.8K
$107.4K – $143.2K
NOI $8,594 @ 7.0% cap · market cap 3.44%
Second Best
Apartment 5plus
$113.0K
$98.9K – $131.9K
NOI $7,911 @ 7.0% cap · market cap 3.17%
Theoretical Best
Office A
$246.6K
$215.8K – $287.7K
NOI $17,260 @ 7.0% cap · market cap 6.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
56
Businesses Nearby
Explore this area
Business Placement
Demographics for 18072, PA
6,734
Population
2,779
Households
2.4
Avg Household Size
43
Median Age
23%
College-Educated
87%
High-School Grad
14.9 sq mi
ZIP Area
452
Density / Sq Mi
$79,067
Median Household Income
$41,056
Median Earnings
$1,525
Median Rent
$244,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with updated first-floor finishes, an occupied upper unit, and additional basement utility space.
Where is this duplex located?
The property is located at 138 Sanders Pen Argyl, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,300 square feet of property size; First‑floor 2‑bedroom, 1‑bathroom unit recently updated with paint, carpet, and laminate flooring; Second‑floor 1‑bedroom, 1‑bathroom unit has a long‑time tenant in place
