Brick Triplex with Three
For Sale
$399,000
744 N 5th Street, Allentown, PA 18102
ResidentialIncome, Allentown City, PA
Property Size2,205 SF
Lot Size0.04 Acres
Price / SF$180.95
Days on Market135
Property Features for 744 N 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
R-MH
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 1, Bedroom 2, Bathroom 3
Parking
4
Parking features
On Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From Route 22, take the exit for Allentown and head south on N 5th Street. Continue on N 5th Street-744 N 5th Street will be on your right near the Center City area.
Standard status
Active
APN
640704469633 1
Size
2,205 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2437
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Building materials
Brick
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Akinlana Popoola · License #RS379206
(412) 925-5551
Added: Apr 29
Changed: Sep 5
Last Checked: Sep 10 at 10:06AM
MLS# 776024
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 2,205-square-foot triplex at 744 N 5th Street includes three one-bedroom apartments and a brick exterior dating to 1900. Each residence is occupied under a month-to-month lease. Electric baseboard heat and gas cooking are separately metered, while the property is served by public water and public sewer. Window units provide cooling, and the building includes a garage and large basement.
The property occupies a 0.041-acre corner lot in Allentown City, PA, with on-street parking and R-MH zoning. The basement offers room to evaluate future laundry or storage improvements, subject to applicable requirements. The unit configuration, separate utility metering, and existing occupancy provide a straightforward multifamily operating profile.
The property occupies a 0.041-acre corner lot in Allentown City, PA, with on-street parking and R-MH zoning. The basement offers room to evaluate future laundry or storage improvements, subject to applicable requirements. The unit configuration, separate utility metering, and existing occupancy provide a straightforward multifamily operating profile.
Key Highlights
- Three one‑bedroom apartments in a fully occupied triplex
- 2,205 square feet on a 0.041‑acre corner lot
- Brick construction with a 1900 year built
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
$23,129
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
5.80%
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%
$462,580
$462.6K
Cap Rate 7%
$330,414
$330.4K
Cap Rate 9%
$256,989
$257.0K
Market Conditions
NOI Build-Up for 2,205 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
$35.7K $16.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$33.0K $14.99/SF
− OpEx
−$9.9K −$4.50/SF
NOI
$23.1K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /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%
$462,580
Cap Rate 7%
$330,414
Cap Rate 9%
$256,989
Alternative Uses
Best Use
Multifamily LT 5
$330.4K
$289.1K – $385.5K
NOI $23,129 @ 7.0% cap · market cap 5.80%
Second Best
Apartment 5plus
$290.6K
$254.3K – $339.1K
NOI $20,345 @ 7.0% cap · market cap 5.10%
Theoretical Best
Specialty Retail
$433.2K
$379.0K – $505.4K
NOI $30,323 @ 7.0% cap · market cap 7.60%
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
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,701
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
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 - Fully occupied triplex with separately metered utilities, a corner-lot setting, and a substantial basement area.
Where is this triplex located?
The property is located at 744 N 5th Street Allentown, PA.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: Three one‑bedroom apartments in a fully occupied triplex; 2,205 square feet on a 0.041‑acre corner lot; Brick construction with a 1900 year built
