Brick Duplex With
For Sale
$399,900
1014 W Turner Street, Allentown, PA 18102
ResidentialIncome, Allentown City, PA
Property Size2,556 SF
Lot Size0.05 Acres
Price / SF$156.46
Days on Market9
Property Features for 1014 W Turner 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 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 3
Parking
4
Parking features
Carport, Garage
Subdivision
Old Allentn Historic
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Route 22 to 145 South, turn right onto Chew Street, left onto North 11th Street, left onto West Turner, destination is on the right.
Standard status
Active
APN
549780862130-1
Size
2,556 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3202
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Cooling system
Window Unit(s), Ceiling Fan(s)
Water source
Public
Amenities
front porch
deck
Building Details
Year built
1890
Floors in Building
3
Number of units
2
Building materials
Brick
Listing Agency:
IronValley RE of Lehigh Valley
(610) 766-7200
Listed By:
Donna J. Gasper · License #RM424351
(484) 241-1011
Added: Aug 24
Last Checked: Sep 1 at 5:06PM
MLS# 783073
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 2,556-square-foot duplex was built in 1890 and has a brick exterior, front porch, newer roof, and emergency exits serving the upper levels. The first-floor apartment is tenant-occupied and includes built-in shelving. The second and third floors are occupied by the owner, with a bathroom on each level and a partially covered deck adjoining the second floor.
Parking includes a two-car garage and carport with capacity for up to four vehicles. The property sits on 0.053 acres in Allentown’s Historic Old Allentown District and is served by public water and public sewer. Heating is provided by electric baseboard systems, while cooling includes window units and ceiling fans. Zoning is R-MH.
Parking includes a two-car garage and carport with capacity for up to four vehicles. The property sits on 0.053 acres in Allentown’s Historic Old Allentown District and is served by public water and public sewer. Heating is provided by electric baseboard systems, while cooling includes window units and ceiling fans. Zoning is R-MH.
Key Highlights
- Duplex totaling 2,556 square feet on a 0.053‑acre lot
- Built in 1890 with brick construction and a newer roof
- First‑floor unit is tenant‑occupied; owner occupies the second and third floors
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
$26,811
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
6.70%
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%
$536,220
$536.2K
Cap Rate 7%
$383,014
$383.0K
Cap Rate 9%
$297,900
$297.9K
Market Conditions
NOI Build-Up for 2,556 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
$41.4K $16.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$38.3K $14.99/SF
− OpEx
−$11.5K −$4.50/SF
NOI
$26.8K $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%
$536,220
Cap Rate 7%
$383,014
Cap Rate 9%
$297,900
Alternative Uses
Best Use
Multifamily LT 5
$383.0K
$335.1K – $446.9K
NOI $26,811 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$336.9K
$294.8K – $393.1K
NOI $23,584 @ 7.0% cap · market cap 5.90%
Theoretical Best
Specialty Retail
$502.1K
$439.4K – $585.8K
NOI $35,150 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,758
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
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 - Two-unit residence with a front porch, deck, garage, and carport in Allentown’s Historic Old Allentown District.
Where is this duplex located?
The property is located at 1014 W Turner Street Allentown, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Duplex totaling 2,556 square feet on a 0.053‑acre lot; Built in 1890 with brick construction and a newer roof; First‑floor unit is tenant‑occupied; owner occupies the second and third floors
