Vacant Two-Unit
New
For Sale
$385,000
1048 Mirror St, Pittsburgh, PA 15217
Two unoccupied residences provide flexibility for an owner-occupant or rental strategy.
Property Size2,550 SF
Price / SF$150.98
Days on Market2
Property Features for 1048 Mirror St
General Information
Standard status
Active
Size
2,550 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
renovate
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1940
Listing Agency:
Exp Realty LLC
(888) 397-7352
Listed By:
Jackson Realty Group
(412) 790-2779
Source:
Jacksonrealty
Added: Sep 9
Last Checked: Sep 9 at 3:08PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Exp Realty LLC
Investment Insights
Based on property information with market context.
This two-unit duplex contains approximately 2,550 square feet of living space, with each residence offering two bedrooms and one full bathroom. Both units are currently vacant, allowing the next owner to address improvements and establish occupancy according to their plans. An unfinished basement adds separate utility and storage potential within the existing structure.
Built in 1940, the property is located at 1048 Mirror Street in Pittsburgh, Pennsylvania. Its duplex configuration supports a range of ownership approaches, including occupying one residence while leasing the other, subject to the owner’s plans and applicable requirements.
Built in 1940, the property is located at 1048 Mirror Street in Pittsburgh, Pennsylvania. Its duplex configuration supports a range of ownership approaches, including occupying one residence while leasing the other, subject to the owner’s plans and applicable requirements.
Key Highlights
- Two‑unit duplex with approximately 2,550 square feet of living space
- Each unit includes two bedrooms and one full bathroom
- Both units are currently vacant
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
$29,040
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
7.54%
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%
$580,800
$580.8K
Cap Rate 7%
$414,857
$414.9K
Cap Rate 9%
$322,667
$322.7K
Market Conditions
NOI Build-Up for 2,550 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
$44.4K $17.40/SF
− Vacancy
−$2.9K −$1.13/SF
EGI
$41.5K $16.27/SF
− OpEx
−$12.4K −$4.88/SF
NOI
$29.0K $11.39/SF
Area
Pittsburgh, PA
Vacancy
6.50%
Lease Rate
$17.40 /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%
$580,800
Cap Rate 7%
$414,857
Cap Rate 9%
$322,667
Alternative Uses
Best Use
Multifamily LT 5
$414.9K
$363.0K – $484.0K
NOI $29,040 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$384.2K
$336.2K – $448.2K
NOI $26,894 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$812.1K
$710.6K – $947.5K
NOI $56,848 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
917
Businesses Nearby
Explore this area
Business Placement
Demographics for 15217, PA
26,851
Population
12,582
Households
2.1
Avg Household Size
36
Median Age
74%
College-Educated
97%
High-School Grad
3.9 sq mi
ZIP Area
6,885
Density / Sq Mi
$91,695
Median Household Income
$55,890
Median Earnings
$1,412
Median Rent
$431,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 unoccupied residences provide flexibility for an owner-occupant or rental strategy.
Where is this duplex located?
The property is located at 1048 Mirror St Pittsburgh, PA.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Two‑unit duplex with approximately 2,550 square feet of living space; Each unit includes two bedrooms and one full bathroom; Both units are currently vacant
