Updated Residential Income
For Sale
$245,000
Pending
118 VALLEY GREENE CIRCLE, Reading, PA 19610
Condominium residence with flexible loft space, enclosed porch, and association-maintained exterior services.
Property Size1,400 SF
Days on Market67
Property Features for 118 VALLEY GREENE CIRCLE
General Information
Standard status
Pending
Size
1,400 SF
Property subtype
Apartment
Additional Details
Multifamily Units
1
Building Details
Building Size
1,400 SF
Year Built
1986
Stories
2
Listing Agency:
RE/MAX Evolved
(717) 509-2880
Listed By:
Alayne Klopp
(717) 509-2880
Source:
Tylermillerteam.kw
Added: Jun 24
Changed: Aug 28
Last Checked: Aug 28 at 8:55AM
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 RE/MAX Evolved
Investment Insights
Based on property information with market context.
This updated condominium residence offers a refreshed kitchen with quartz countertops, tile backsplash, and stainless steel appliances. The main living area combines living and dining functions beneath vaulted ceilings and includes a fireplace. Laminate flooring extends through the home, while the primary bedroom features a private full bathroom, walk-in closet, and direct access to the enclosed porch.
The upper-level loft provides adaptable space for a third bedroom, den, or home office, along with another walk-in closet and attic storage access. The enclosed porch adds a separate area for everyday use and includes additional storage. Association services cover lawn care, snow removal, exterior maintenance, water, sewer, and trash. One pet under 25 lbs. is permitted. The community is set near shopping, restaurants, schools, and parks, with gated access at the Valley Greene Circle entrance off State Hill Road and alternate entry from Lawndale Road.
The upper-level loft provides adaptable space for a third bedroom, den, or home office, along with another walk-in closet and attic storage access. The enclosed porch adds a separate area for everyday use and includes additional storage. Association services cover lawn care, snow removal, exterior maintenance, water, sewer, and trash. One pet under 25 lbs. is permitted. The community is set near shopping, restaurants, schools, and parks, with gated access at the Valley Greene Circle entrance off State Hill Road and alternate entry from Lawndale Road.
Key Highlights
- Updated kitchen with quartz countertops, tile backsplash, and stainless steel appliances
- Vaulted‑ceiling living and dining area with fireplace
- Upper‑level loft suitable for a third bedroom, den, or home office
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
$12,064
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
4.92%
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%
$241,280
$241.3K
Cap Rate 7%
$172,343
$172.3K
Cap Rate 9%
$134,044
$134.0K
Market Conditions
NOI Build-Up for 1,400 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
$22.8K $16.32/SF
− Vacancy
−$914 −$0.65/SF
EGI
$21.9K $15.67/SF
− OpEx
−$9.9K −$7.05/SF
NOI
$12.1K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /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%
$241,280
Cap Rate 7%
$172,343
Cap Rate 9%
$134,044
Alternative Uses
Best Use
Apartment 5plus
$172.3K
$150.8K – $201.1K
NOI $12,064 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$229.8K
$201.1K – $268.1K
NOI $16,088 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,169
Businesses Nearby
Explore this area
Business Placement
Demographics for 19610, PA
16,024
Population
7,327
Households
2.2
Avg Household Size
46
Median Age
54%
College-Educated
98%
High-School Grad
7.1 sq mi
ZIP Area
2,257
Density / Sq Mi
$91,034
Median Household Income
$52,707
Median Earnings
$1,669
Median Rent
$320,100
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Condominium residence with flexible loft space, enclosed porch, and association-maintained exterior services.
Where is this residential income property located?
The property is located at 118 VALLEY GREENE CIRCLE Reading, PA.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: Updated kitchen with quartz countertops, tile backsplash, and stainless steel appliances; Vaulted‑ceiling living and dining area with fireplace; Upper‑level loft suitable for a third bedroom, den, or home office
