Duplex With Detached
For Sale
$240,000
Pending
113 W OLEY STREET, Reading, PA 19601
Residential property with two leased units, flexible month-to-month occupancy, and a rear garage.
Property Size1,663 SF
Days on Market132
Property Features for 113 W OLEY STREET
General Information
Standard status
Pending
Size
1,663 SF
Property subtype
Duplex
Occupancy
100%
Units
Unit Mix
1 x 1BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Additional Details
Cap Rate
9.6%
Building Details
Building Size
1,663 SF
Year Built
1895
Buildings
1
Listing Agency:
Coldwell Banker Realty
(610) 373-9900
Listed By:
Joe Colon · License #RS343304
(610) 373-9900
Source:
Tylermillerteam.kw
Added: Apr 23
Changed: Aug 30
Last Checked: Aug 31 at 12:40PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This 1895 duplex at 113 W Oley Street in Reading, Pennsylvania, contains two residential units with distinct layouts. One unit has 1 bedroom and 1 bathroom, while the other offers 3 bedrooms and 1 bathroom. Both units are occupied under month-to-month leases, providing flexible lease terms.
A detached garage at the rear adds a separate leased component. Tenants pay their own heat and electricity; the owner handles water, sewer, and trash. The property carries a reported 9.6% cap rate and provides an established two-unit configuration with additional garage revenue.
A detached garage at the rear adds a separate leased component. Tenants pay their own heat and electricity; the owner handles water, sewer, and trash. The property carries a reported 9.6% cap rate and provides an established two-unit configuration with additional garage revenue.
Key Highlights
- Two residential units: 1‑bedroom/1‑bathroom and 3‑bedroom/1‑bathroom layouts
- Both apartments are occupied under month‑to‑month leases
- Detached rear garage is separately leased
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
$16,395
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
6.83%
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%
$327,900
$327.9K
Cap Rate 7%
$234,214
$234.2K
Cap Rate 9%
$182,167
$182.2K
Market Conditions
NOI Build-Up for 1,663 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
$24.3K $14.64/SF
− Vacancy
−$925 −$0.56/SF
EGI
$23.4K $14.08/SF
− OpEx
−$7.0K −$4.23/SF
NOI
$16.4K $9.86/SF
Area
Berks County, PA
Vacancy
3.80%
Lease Rate
$14.64 /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%
$327,900
Cap Rate 7%
$234,214
Cap Rate 9%
$182,167
Alternative Uses
Best Use
Multifamily LT 5
$234.2K
$204.9K – $273.3K
NOI $16,395 @ 7.0% cap · market cap 6.83%
Second Best
Apartment 5plus
$204.7K
$179.1K – $238.8K
NOI $14,330 @ 7.0% cap · market cap 5.97%
Theoretical Best
Office A
$273.0K
$238.9K – $318.5K
NOI $19,110 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,115
Businesses Nearby
Explore this area
Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
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 - Residential property with two leased units, flexible month-to-month occupancy, and a rear garage.
Where is this duplex located?
The property is located at 113 W OLEY STREET Reading, PA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two residential units: 1‑bedroom/1‑bathroom and 3‑bedroom/1‑bathroom layouts; Both apartments are occupied under month‑to‑month leases; Detached rear garage is separately leased
