Stone
For Sale
$375,000
1642 MINERAL SPRING Road, Reading, PA 19602
Multi-Family, READING, PA
Property Size2,538 SF
Lot Size0.05 Acres
Price / SF$147.75
Days on Market9
Property Features for 1642 MINERAL SPRING Road
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking features
On Street
Subdivision
HESSIAN CAMP
Elementary school district
READING
Middle school district
READING
High school district
READING
Standard status
Active
Size
2,538 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
2899
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1905
Number of units
3
Building materials
Stone
Architectural style
Other
Listing Agency:
Century 21 Gold · Century 21 Real Estate
(610) 779-2500
Listed By:
William Roman · License #rs318326
(484) 663-3747
Added: Sep 28
Last Checked: Oct 6 at 1:06PM
MLS# PABK2078652
Copyright © 2026 Bright MLS. 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 2,538-square-foot triplex contains three residential units and includes a basement. Stone construction dates to 1905, and the building is heated by a hot-water system. Parking is available on the street.
The property occupies a 0.05-acre lot in Reading, Pennsylvania.
The property occupies a 0.05-acre lot in Reading, Pennsylvania.
Key Highlights
- Three‑unit residential building
- 2,538 square feet of building area
- 0.05‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,021
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,420
$500.4K
Cap Rate 7%
$357,443
$357.4K
Cap Rate 9%
$278,011
$278.0K
Market Conditions
NOI Build-Up for 2,538 SF
Gross rent
$37.2K $14.64/SF
− Vacancy
−$1.4K −$0.56/SF
EGI
$35.7K $14.08/SF
− OpEx
−$10.7K −$4.23/SF
NOI
$25.0K $9.86/SF
Area
Berks County, PA
Vacancy
3.80%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$500,420
Cap Rate 7%
$357,443
Cap Rate 9%
$278,011
Alternative Uses
Best Use
Multifamily LT 5
$357.4K
$312.8K – $417.0K
NOI $25,021 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$312.4K
$273.4K – $364.5K
NOI $21,870 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$416.6K
$364.6K – $486.1K
NOI $29,165 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residential units are housed in a single building.
Where is this triplex located?
The property is located at 1642 MINERAL SPRING Road Reading, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit residential building; 2,538 square feet of building area; 0.05‑acre lot
