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    Vacant Two-Unit Duplex Opportunity Title is generated by Realmo AI

    1050 North 5th Street, Reading, PA 19601

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    New
    For Sale
    $249,900

    Move-in-ready duplex with both units delivered vacant and gas available for flexible heating upgrades.

    Type:Multi-Family / Fee Simple
    Property size:
    2,054 SF
    Price / SF:
    $121/SF
    Added:
    Jun 1, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 6 at 2:50 am

    Property Features for 1050 North 5th Street

    General Information

    Standard status
    Active
    Size
    2,054 SF
    Property subtype
    Multi-Family / Fee Simple

    Building Details

    Year Built
    1903

    We can help!

    Listing Contact
    Jose Vazquez

    Listing agent Jose Vazquez License #RS345181

    Listing office Light House Realtors, LLC

    Listing date Jun 1, 2026

    Source Compass

    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 Light House Realtors, LLC

    HighLights

    • Move‑in‑ready two‑unit duplex built in 1903, with both units delivered vacant
    • Option to live in one unit and rent the other, or lease both units for rental income
    • Gas is already available in the building for flexible heating upgrades
    • Heating setup includes electric baseboards on the first floor and gas on the second
    • Minutes from Giant, Aldi, Target, and Redner's
    • Convenient access to Routes 61, 222, and 12

    Overview

    This move-in-ready two-unit duplex is offered with both units delivered vacant, giving the next owner a clean slate for occupancy planning from day one. The building includes heating flexibility: the first floor uses electric baseboards, while gas is available on the second unit. The property is configured as a straightforward owner-occupy or rent-both setup, with two separate units under one roof.

    Located in one of North Reading’s most sought-after pockets, the property is described as minutes from Giant, Aldi, Target, and Redner’s. It also benefits from seamless access to Routes 61, 222, and 12, which can support convenient commuting and everyday shopping access.

    For owner-occupants, the layout allows you to live in one unit while the other provides rental income potential. For investors or buyers looking for turn-key occupancy, the vacant delivery of both units removes the need to assume existing leases. With gas already available and differing heating types across the building, the duplex also offers practical flexibility if you plan to modernize the system on your own timeline.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $30.1k $14.64
    − Vacancy −$1.1k −$0.56
    EGI $28.9k $14.08
    − OpEx −$8.7k −$4.23
    NOI $20.2k $9.86
    2,054 SF · lease $14.64/SF/yr · vacancy 3.80% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $289.3K
    $253.1K – $337.5K (±1% cap)
    NOI $20,250 @ 7.0% cap · market cap 8.10%
    Second Best
    Apartment 5plus
    $252.8K
    $221.2K – $295.0K (±1% cap)
    NOI $17,699 @ 7.0% cap · market cap 7.08%
    Theoretical Best
    Office A
    $337.2K
    $295.0K – $393.4K (±1% cap)
    NOI $23,603 @ 7.0% cap · market cap 9.44%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Reading
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.9293507
    Latitude
    40.3908408

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    FAQs

    What type of property is this?
    Duplex - Move-in-ready duplex with both units delivered vacant and gas available for flexible heating upgrades.
    Where is this duplex located?
    The property is located at 1050 North 5th Street Reading, PA.
    What is the asking price?
    The asking price for this property is $249,900.
    What are key features of this property?
    This property features: Move‑in‑ready two‑unit duplex built in 1903, with both units delivered vacant; Option to live in one unit and rent the other, or lease both units for rental income; Gas is already available in the building for flexible heating upgrades
    (610) 510-4445
    We can help!
    Listing Contact
    Jose Vazquez
    Real Estate License ID: RS345181
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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