Brick Duplex with Five
New
For Sale
$325,000
115 N 13th Street, Allentown, PA 18102
MULTI_FAMILY - Allentown City, PA
Property Size2,176 SF
Lot Size0.05 Acres
Price / SF$149.36
Days on Market5
Property Features for 115 N 13th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-H
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 3, Bedroom 1, Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 2
Parking
2
Parking features
Driveway, On Street, Off Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From Tilghman St South on 13th St to 115 on left.
Standard status
Active
APN
02 11 H09NW2B 006 007 or 549679583304 1
Size
2,176 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
2881
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Brick, BrickVeneer
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
(610) 435-1800
Listed By:
Dave Capece
(610) 435-5555
Added: Aug 8
Changed: Aug 12
Last Checked: Aug 12 at 9:06AM
MLS# 782580
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 2176-square-foot duplex contains two residential units, five bedrooms, and two bathrooms. Built in 1900, the property features brick and brick veneer construction, electric baseboard heating, and ceiling fans for cooling. The existing leases are month-to-month, and the property is described as suitable for an owner occupant.
Located at 115 N 13th Street in Allentown City, the property occupies a 0.05-acre lot within Lehigh County. Parking options include off-street spaces, a driveway, and on-street parking. Public water and public sewer serve the property, which carries R-H zoning.
Located at 115 N 13th Street in Allentown City, the property occupies a 0.05-acre lot within Lehigh County. Parking options include off-street spaces, a driveway, and on-street parking. Public water and public sewer serve the property, which carries R-H zoning.
Key Highlights
- 2176 SF masonry duplex with two residential units
- Five bedrooms and two bathrooms
- Brick and brick veneer construction; built in 1900
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
$22,825
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
7.02%
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%
$456,500
$456.5K
Cap Rate 7%
$326,071
$326.1K
Cap Rate 9%
$253,611
$253.6K
Market Conditions
NOI Build-Up for 2,176 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
$35.3K $16.20/SF
− Vacancy
−$2.6K −$1.22/SF
EGI
$32.6K $14.99/SF
− OpEx
−$9.8K −$4.50/SF
NOI
$22.8K $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%
$456,500
Cap Rate 7%
$326,071
Cap Rate 9%
$253,611
Alternative Uses
Best Use
Multifamily LT 5
$326.1K
$285.3K – $380.4K
NOI $22,825 @ 7.0% cap · market cap 7.02%
Second Best
Apartment 5plus
$286.8K
$251.0K – $334.6K
NOI $20,078 @ 7.0% cap · market cap 6.18%
Theoretical Best
Specialty Retail
$427.5K
$374.1K – $498.7K
NOI $29,924 @ 7.0% cap · market cap 9.21%
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
1,473
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Located in Allentown City with R-H zoning, public water, and public sewer.
Where is this duplex located?
The property is located at 115 N 13th Street Allentown, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2176 SF masonry duplex with two residential units; Five bedrooms and two bathrooms; Brick and brick veneer construction; built in 1900
