Brick Duplex with Separate
New
For Sale
$249,900
349 N 4TH Street, Reading, PA 19601
MULTI_FAMILY - Other - READING, PA
Property Size2,637 SF
Lot Size0.03 Acres
Price / SF$94.77
Days on Market6
Property Features for 349 N 4TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Elementary school district
READING
Middle school district
READING
High school district
READING
Standard status
Active
Size
2,637 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
1159
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1910
Floors in Building
2
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Iron Valley Real Estate of Berks
(484) 450-8771
Listed By:
Santos Julian Rivera · License #RS342817
(267) 467-3162
Added: Aug 7
Last Checked: Aug 12 at 10:06AM
MLS# PABK2076534
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 two-unit residential income property contains 2,637 square feet within a brick building constructed in 1910. The first-floor apartment has 1 bedroom and 1 bath, while the upper-level apartment provides 4 bedrooms and 1 bath. Both units are currently vacant, allowing the next owner to establish the preferred occupancy or rental arrangement from the outset.
Utilities are separately metered, supporting independent operation of the apartments. The property sits on a 0.03-acre lot at 349 N 4TH Street in Reading, Pennsylvania, within Berks County. Hot water heating serves the building, and the entire duplex will be delivered vacant for future rental or owner-occupancy plans.
Utilities are separately metered, supporting independent operation of the apartments. The property sits on a 0.03-acre lot at 349 N 4TH Street in Reading, Pennsylvania, within Berks County. Hot water heating serves the building, and the entire duplex will be delivered vacant for future rental or owner-occupancy plans.
Key Highlights
- 2,637‑square‑foot duplex on a 0.03‑acre lot
- First‑floor unit includes 1 bedroom and 1 bath
- Upper‑level unit offers 4 bedrooms and 1 bath
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
$22,723
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
9.09%
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%
$454,460
$454.5K
Cap Rate 7%
$324,614
$324.6K
Cap Rate 9%
$252,478
$252.5K
Market Conditions
NOI Build-Up for 2,637 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
$43.0K $16.32/SF
− Vacancy
−$1.7K −$0.65/SF
EGI
$41.3K $15.67/SF
− OpEx
−$18.6K −$7.05/SF
NOI
$22.7K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /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%
$454,460
Cap Rate 7%
$324,614
Cap Rate 9%
$252,478
Alternative Uses
Best Use
Multifamily LT 5
$371.4K
$325.0K – $433.3K
NOI $25,997 @ 7.0% cap · market cap 10.40%
Second Best
Apartment 5plus
$324.6K
$284.0K – $378.7K
NOI $22,723 @ 7.0% cap · market cap 9.09%
Theoretical Best
Office A
$432.9K
$378.8K – $505.0K
NOI $30,302 @ 7.0% cap · market cap 12.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
989
Businesses Nearby
Explore this area
Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
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?
Duplex - Vacant two-unit property supports owner occupancy, full rental use, or a combination of both.
Where is this duplex located?
The property is located at 349 N 4TH Street Reading, 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: 2,637‑square‑foot duplex on a 0.03‑acre lot; First‑floor unit includes 1 bedroom and 1 bath; Upper‑level unit offers 4 bedrooms and 1 bath
