Riverfront Duplex with
For Sale
$850,000
429 Riverview Drive, Walnutport, PA 18088
Residential Income, Walnutport, PA
Property Size4,503 SF
Lot Size14.85 Acres
Price / SF$188.76
Days on Market23
Property Features for 429 Riverview Drive
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
GC
Zoning description
Commercial
Bedrooms
8
Full bathrooms
16
Rooms
Bedroom 5, Bathroom 12, Bathroom 2, Bathroom 4, Bedroom 2, Bathroom 8, Bathroom 11, Bathroom 16, Bathroom 6, Bathroom 3, Bathroom 5, Bathroom 14, Bathroom 15, Bedroom 8, Bedroom 7, Bathroom 10, Bedroom 3, Basement, Bedroom 6, Bathroom 7, Bedroom 1, Bedroom 4, Bathroom 9, Bathroom 1, Bathroom 13
Subdivision
Lehigh Township
Standard status
Active
APN
5157-17-8514-2800
Size
4,503 SF
Lot size
14.85 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4918
Amenities
greenhouse
walking trails
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Architectural style
Cape Cod
Listing Agency:
Keller Williams Real Estate - Palmerton · Keller Williams Realty
(610) 826-8100
Listed By:
James A Christman
(570) 421-2890
Added: Aug 7
Changed: Aug 26
Last Checked: Aug 29 at 4:06AM
MLS# PM-143739
Copyright © 2026 Pocono Mountains Association of 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 Cape Cod-style duplex, built in 1900, includes two residential units and a 150' x 32' greenhouse that was previously leased for commercial use. Both apartments are currently leased. The property consists of two parcels totaling 14.85 acres, with the front parcel containing approximately 10.85 acres and the rear parcel covering 4 acres.
The front parcel is zoned Highway Commercial, while the rear parcel is zoned Agricultural. Deeded railroad crossing access connects the parcels. The land includes open fields, mature woods, walking trails, direct access to the Lehigh River, and remnants associated with historic Lockport, including portions of the former canal lock system and other period structures. The property also has nearly 1,300 ft of frontage on 145.
The front parcel is zoned Highway Commercial, while the rear parcel is zoned Agricultural. Deeded railroad crossing access connects the parcels. The land includes open fields, mature woods, walking trails, direct access to the Lehigh River, and remnants associated with historic Lockport, including portions of the former canal lock system and other period structures. The property also has nearly 1,300 ft of frontage on 145.
Key Highlights
- Two‑unit duplex with both apartments currently leased
- 14.85 acres across two parcels
- Nearly 1,300 ft of frontage on 145
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
$29,769
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
3.50%
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%
$595,380
$595.4K
Cap Rate 7%
$425,271
$425.3K
Cap Rate 9%
$330,767
$330.8K
Market Conditions
NOI Build-Up for 4,503 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
$45.9K $10.20/SF
− Vacancy
−$3.4K −$0.76/SF
EGI
$42.5K $9.44/SF
− OpEx
−$12.8K −$2.83/SF
NOI
$29.8K $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%
$595,380
Cap Rate 7%
$425,271
Cap Rate 9%
$330,767
Alternative Uses
Best Use
Multifamily LT 5
$425.3K
$372.1K – $496.2K
NOI $29,769 @ 7.0% cap · market cap 3.50%
Second Best
Apartment 5plus
$391.5K
$342.5K – $456.7K
NOI $27,402 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$854.1K
$747.3K – $996.4K
NOI $59,785 @ 7.0% cap · market cap 7.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
25
Businesses Nearby
Explore this area
Business Placement
Demographics for 18088, PA
8,603
Population
3,612
Households
2.4
Avg Household Size
48
Median Age
19%
College-Educated
94%
High-School Grad
19.1 sq mi
ZIP Area
450
Density / Sq Mi
$76,025
Median Household Income
$46,269
Median Earnings
$1,236
Median Rent
$241,200
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a commercially leased greenhouse and land spanning Highway Commercial and Agricultural zoning.
Where is this duplex located?
The property is located at 429 Riverview Drive Walnutport, PA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Two‑unit duplex with both apartments currently leased; 14.85 acres across two parcels; Nearly 1,300 ft of frontage on 145
