Brick Duplex with Garage and
For Sale
$399,900
1014 W TURNER Street, Allentown, PA 18102
Multi-Family, ALLENTOWN, 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
Other
Rooms
Basement
Parking
4
Parking features
Garage - Detached, Carport, On Street
Interior features
Bathroom - Jetted Tub, Bathroom - Stall Shower, Carpet, Ceiling Fan(s)
Appliances
Dishwasher, Dryer - Electric, Microwave, Oven/Range - Electric, Refrigerator, Stainless Steel Appliances, Washer, WaterHeater
Elementary school district
ALLENTOWN
Middle school district
ALLENTOWN
High school district
ALLENTOWN
Standard status
Active
Size
2,556 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
3266
Utilities
Heating system
Baseboard, Electric (Heating)
Cooling system
Ceiling Fan(s), Window Unit(s)
Amenities
front porch
deck
Building Details
Year built
1890
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Iron Valley Real Estate 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# PALH2016624
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 2,556-square-foot duplex is arranged as a first-floor residence plus living space spanning the second and third floors. The lower unit is tenant-occupied, while the upper levels are owner-occupied and include a bathroom on each floor. Interior features include built-in shelving, jetted tub and stall-shower bathrooms, ceiling fans, electric baseboard heat, and window-unit cooling. The brick structure dates to 1890 and includes a newer roof, upper-level emergency exits, and a partially covered deck.
Parking is provided by a detached two-car garage, carport, and on-street spaces, with capacity for up to four vehicles from the garage and carport. The property sits within Allentown’s Historic Old Allentown District on a 0.0528-acre lot.
Parking is provided by a detached two-car garage, carport, and on-street spaces, with capacity for up to four vehicles from the garage and carport. The property sits within Allentown’s Historic Old Allentown District on a 0.0528-acre lot.
Key Highlights
- 2,556‑square‑foot duplex with two residential units
- First‑floor unit is tenant‑occupied; owner occupies the second and third floors
- Detached two‑car garage and carport provide parking for up to four vehicles
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
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 residential units include separate upper-level living areas and access to a partially covered deck.
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: 2,556‑square‑foot duplex with two residential units; First‑floor unit is tenant‑occupied; owner occupies the second and third floors; Detached two‑car garage and carport provide parking for up to four vehicles
