Four-Unit Quadplex with Vacant
For Sale
$479,000
217 Pen Argyl Street, Pen Argyl, PA 18072
ResidentialIncome, Pen Argyl Boro, PA
Property Size3,268 SF
Lot Size0.07 Acres
Price / SF$146.57
Days on Market34
Property Features for 217 Pen Argyl Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
25R78
Bedrooms
9
Bathrooms
4
Half bathrooms
4
Rooms
Bedroom 1, Bathroom 4, Bedroom 7, Bedroom 9, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 2, Bedroom 6, Bedroom 8
Parking
2
Parking features
Off Street, On Street
Subdivision
Not in Development
Elementary school district
Pen Argyl
Middle school district
Pen Argyl
High school district
Pen Argyl
Directions
From Bangor: Take Market St and PA-512 S/Blue Valley Dr to S Westbrook Ave in Pen Argyl. Take E Main St to A St
Standard status
Active
APN
E8NE2D-44-3-0625
Size
3,268 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
4317
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Building materials
VinylSiding
Listing Agency:
Steel City Realty
(484) 895-9005
Listed By:
Jennifer L. DeJesus · License #RM423820
(610) 217-6330
Added: Aug 5
Changed: Sep 5
Last Checked: Sep 7 at 10:06PM
MLS# 782008
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.
Located at 217 Pen Argyl Street in Pen Argyl Boro, Pennsylvania, this quadplex contains four units within a 3,268-square-foot building on 0.068 acres. The property includes 9 bedrooms and 4 bathrooms, with one unit currently vacant and rent-ready. Vinyl siding, electric baseboard heat, and a combination of on-street and off-street parking serve the building.
Constructed in 1910, the property is supported by public water and public sewer. The landlord currently pays water, sewer, and trash expenses. Zoning is 25R78. The existing four-unit configuration and available unit provide a defined operating profile for a multifamily owner.
Constructed in 1910, the property is supported by public water and public sewer. The landlord currently pays water, sewer, and trash expenses. Zoning is 25R78. The existing four-unit configuration and available unit provide a defined operating profile for a multifamily owner.
Key Highlights
- Four‑unit quadplex with one vacant, rent‑ready unit
- 3,268‑square‑foot building on 0.068 acres
- 9 bedrooms and 4 bathrooms
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
$21,605
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
4.51%
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%
$432,100
$432.1K
Cap Rate 7%
$308,643
$308.6K
Cap Rate 9%
$240,056
$240.1K
Market Conditions
NOI Build-Up for 3,268 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
$33.3K $10.20/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$30.9K $9.44/SF
− OpEx
−$9.3K −$2.83/SF
NOI
$21.6K $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%
$432,100
Cap Rate 7%
$308,643
Cap Rate 9%
$240,056
Alternative Uses
Best Use
Multifamily LT 5
$308.6K
$270.1K – $360.1K
NOI $21,605 @ 7.0% cap · market cap 4.51%
Second Best
Apartment 5plus
$284.1K
$248.6K – $331.4K
NOI $19,886 @ 7.0% cap · market cap 4.15%
Theoretical Best
Office A
$619.8K
$542.4K – $723.2K
NOI $43,389 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
249
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - One vacant, rent-ready unit complements public water and sewer service at this Pen Argyl multifamily property.
Where is this quadplex located?
The property is located at 217 Pen Argyl Street Pen Argyl, PA.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: Four‑unit quadplex with one vacant, rent‑ready unit; 3,268‑square‑foot building on 0.068 acres; 9 bedrooms and 4 bathrooms
