Two-Unit Duplex with
For Sale
$175,000
Pending
120 W ELM STREET, Reading, PA 19601
Professionally managed residential income property with separate utility metering and a remodeled vacant unit.
Property Size1,080 SF
Days on Market60
Property Features for 120 W ELM STREET
General Information
Standard status
Pending
Size
1,080 SF
Total Parking Spaces
4
Property subtype
Duplex
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Building Details
Year Built
1910
Buildings
1
Tenancy
Single
Listing Agency:
Iron Valley Real Estate of Berks
(484) 450-8771
Listed By:
MOUNA TABAT · License #RS375006
(484) 529-3923
Source:
Cummingsrealtors
Added: Aug 15
Changed: Oct 13
Last Checked: Oct 12 at 7:00PM
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 Iron Valley Real Estate of Berks
Investment Insights
Based on property information with market context.
This 1,080-square-foot duplex, built in 1910, contains two one-bedroom units. The first-floor residence is vacant and freshly remodeled, while the second-floor unit is occupied. Both apartments are described as being in good condition, and each has its own electric water heater, replaced in 2024.
Separate metering covers heat and electric service, with tenants responsible for those utility costs. The property is professionally managed and includes a two-car garage at the rear without a current garage door, along with additional parking for two vehicles in front of the garage. The configuration supports continued rental use or an owner-occupant arrangement.
Separate metering covers heat and electric service, with tenants responsible for those utility costs. The property is professionally managed and includes a two-car garage at the rear without a current garage door, along with additional parking for two vehicles in front of the garage. The configuration supports continued rental use or an owner-occupant arrangement.
Key Highlights
- Two one‑bedroom units within a 1,080‑square‑foot duplex
- First‑floor unit is vacant and freshly remodeled
- Second‑floor unit is currently occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,647
Cap Rate
6.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$212,940
$212.9K
Cap Rate 7%
$152,100
$152.1K
Cap Rate 9%
$118,300
$118.3K
Market Conditions
NOI Build-Up for 1,080 SF
Gross rent
$15.8K $14.64/SF
− Vacancy
−$601 −$0.56/SF
EGI
$15.2K $14.08/SF
− OpEx
−$4.6K −$4.23/SF
NOI
$10.6K $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 Rate 5%
$212,940
Cap Rate 7%
$152,100
Cap Rate 9%
$118,300
Alternative Uses
Best Use
Multifamily LT 5
$152.1K
$133.1K – $177.5K
NOI $10,647 @ 7.0% cap · market cap 6.08%
Second Best
Apartment 5plus
$132.9K
$116.3K – $155.1K
NOI $9,306 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$177.3K
$155.1K – $206.8K
NOI $12,410 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
2
Residential units
Single-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,121
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Professionally managed residential income property with separate utility metering and a remodeled vacant unit.
Where is this duplex located?
The property is located at 120 W ELM STREET Reading, PA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: Two one‑bedroom units within a 1,080‑square‑foot duplex; First‑floor unit is vacant and freshly remodeled; Second‑floor unit is currently occupied
