Building Details

Year built 1920

Number of units 2

Building materials Vinyl Siding

Listing Agency: Keller Williams Realty Group t***@kw.com Show Phone

Listed By: Shelby Leight · License #AB069472 Show Phone

Added: Aug 20 Last Checked: Aug 22 at 8:06AM

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MLS# PABU2129158

Copyright © 2026 Bright MLS. 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 two-unit duplex contains 1,608 square feet on a 0.21-acre lot. Each residence offers two bedrooms, one full bathroom, a living room, and a private kitchen, creating two distinct living quarters. Both units also have individual access to unfinished basement areas for storage and utility space. The property was built in 1920 and has vinyl siding, baseboard and electric heating, along with both off-street and on-street parking options.

Located at 115 S 4TH Street in Perkasie, the property is positioned within the borough’s in-town setting. Local shops, restaurants, parks, and community events are identified as being within walking distance. The configuration provides a duplex layout with separate unit amenities and basement areas in a Bucks County borough location.

Key Highlights

• Two‑unit duplex with 1,608 square feet of property size
• Each unit includes 2 bedrooms, 1 full bathroom, living room, and kitchen
• Private access to unfinished basement space for both units

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 (±1% cap)

NOI $19,909 @ 7.0% cap · market cap 5.32%

Second Best

Multifamily LT 5

$272.6K

$238.5K – $318.0K (±1% cap)

NOI $19,079 @ 7.0% cap · market cap 5.10%

Theoretical Best

Office A

$487.5K

$426.6K – $568.8K (±1% cap)

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

Healthy Cooking Concepts Weight Loss Service

Suggested Use

Top Pick Dental Office Skin Care Clinic Auto Parts Store Grocery & Convenience Store (Bike/Boat/Book/etc) Store Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

542

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Separate living quarters include private kitchens, full bathrooms, and additional basement storage.

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 of property size; Each unit includes 2 bedrooms, 1 full bathroom, living room, and kitchen; Private access to unfinished basement space for both units