Two-Unit Duplex with Separate
For Sale
$374,000
115 S 4TH STREET, Perkasie, PA 18944
Move-in-ready duplex with two complete residences and walkable access to Perkasie Borough shops, restaurants, parks, and community events.
Property Size1,608 SF
Price / SF$232.59
Days on Market14
Property Features for 115 S 4TH STREET
General Information
Standard status
Active
Size
1,608 SF
Property subtype
Duplex
Building Details
Year Built
1920
Listing Agency:
Keller Williams Realty Group
(215) 892-2178
Listed By:
Shelby Leight · License #AB069472
(215) 892-2178
Source:
Cummingsrealtors
Added: Aug 16
Changed: Aug 29
Last Checked: Aug 25 at 4:33AM
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 Keller Williams Realty Group
Investment Insights
Based on property information with market context.
This 1,608-square-foot duplex, built in 1920, contains two separate residential units. Each side includes two bedrooms, one full bathroom, a living room, and a kitchen, creating a practical two-unit layout for occupancy by separate households. Both units also have private access to an unfinished basement, providing additional storage and utility space.
The property is located at 115 S 4th St in Perkasie Borough, with walking access to local shops, restaurants, parks, and community events. Its configuration supports a range of residential ownership arrangements, including use by an investor or an owner-occupant, subject to applicable requirements.
The property is located at 115 S 4th St in Perkasie Borough, with walking access to local shops, restaurants, parks, and community events. Its configuration supports a range of residential ownership arrangements, including use by an investor or an owner-occupant, subject to applicable requirements.
Key Highlights
- Two‑unit duplex with 1,608 square feet
- Each unit includes 2 bedrooms, 1 full bathroom, living room, and kitchen
- Private access to an unfinished basement for each unit
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
$19,909
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
5.32%
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%
$398,180
$398.2K
Cap Rate 7%
$284,414
$284.4K
Cap Rate 9%
$221,211
$221.2K
Market Conditions
NOI Build-Up for 1,608 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
$37.4K $23.28/SF
− Vacancy
−$1.2K −$0.77/SF
EGI
$36.2K $22.51/SF
− OpEx
−$16.3K −$10.13/SF
NOI
$19.9K $12.38/SF
Area
Bucks County, PA
Vacancy
3.30%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$398,180
Cap Rate 7%
$284,414
Cap Rate 9%
$221,211
Alternative Uses
Best Use
Apartment 5plus
$284.4K
$248.9K – $331.8K
NOI $19,909 @ 7.0% cap · market cap 5.32%
Second Best
Multifamily LT 5
$272.6K
$238.5K – $318.0K
NOI $19,079 @ 7.0% cap · market cap 5.10%
Theoretical Best
Office A
$487.5K
$426.6K – $568.8K
NOI $34,127 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
549
Businesses Nearby
Explore this area
Business Placement
Demographics for 18944, PA
26,396
Population
10,107
Households
2.6
Avg Household Size
43
Median Age
44%
College-Educated
95%
High-School Grad
45.4 sq mi
ZIP Area
581
Density / Sq Mi
$133,131
Median Household Income
$59,564
Median Earnings
$1,383
Median Rent
$411,200
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 - Move-in-ready duplex with two complete residences and walkable access to Perkasie Borough shops, restaurants, parks, and community events.
Where is this duplex located?
The property is located at 115 S 4TH STREET Perkasie, PA.
What is the asking price?
The asking price for this property is $374,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,608 square feet; Each unit includes 2 bedrooms, 1 full bathroom, living room, and kitchen; Private access to an unfinished basement for each unit
