Multi-Family Residence with Detached
For Sale
$265,000
1217 W Allen Street, Allentown, PA 18102
MULTI_FAMILY - Allentown City, PA
Property Size1,434 SF
Lot Size0.04 Acres
Price / SF$184.80
Days on Market130
Property Features for 1217 W Allen Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-Mh-Medium High Density
Bedrooms
3
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 3, Bedroom 2
Parking
1
Parking features
On Street, Off Street, Garage
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From Highway 22 west or east to 15th street exit towards Allentown. Left on Roth Ave, proceed through light and make slight right onto 13th St., Left on W Allen. Property will be on the left hand side.
Standard status
Active
APN
549762839211 001
Size
1,434 SF
Lot size
0.04 Acres
Taxes and HOA fees
Tax Annual Amount
2931
Utilities
Sewer type
Public Sewer
Heating system
Other (Heating), Natural Gas
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1916
Floors in Building
2
Number of units
1
Flooring type
Hardwood
Building materials
Brick
Listing Agency:
Howard Hanna TheFrederickGroup
(610) 398-0411
Listed By:
Heather Kidd
(302) 462-5143
Added: Mar 30
Changed: Aug 3
Last Checked: Aug 6 at 2:06PM
MLS# 772553
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.
1217 W Allen Street is a multi-family residence featuring a practical interior layout with a bright living area and separate dining space. The kitchen is described as modern yet functional, and the upper level includes three well-sized bedrooms and a full bathroom. Additional space on the upper floor provides flexibility for storage, a workspace, or other reconfiguration depending on an operator’s needs. Outside, the property includes a covered front entry, a manageable yard area designed to keep exterior maintenance manageable, and a detached garage that can support additional parking or storage.
The property is located in Allentown City, Lehigh County, Pennsylvania. It is zoned R-Mh-Medium High Density, offering a residential framework for multi-family use. The lot is listed at 0.041 acres, and the property size is noted as 1,434 square feet.
This home may appeal to buyers and investors looking for a residence with clear room separation, an established bedroom layout, and practical site features such as the detached garage and a covered entry. The flexible upper-floor area can be useful for tenants who need extra space, or for operators planning interior adjustments without changing the overall footprint.
The property is located in Allentown City, Lehigh County, Pennsylvania. It is zoned R-Mh-Medium High Density, offering a residential framework for multi-family use. The lot is listed at 0.041 acres, and the property size is noted as 1,434 square feet.
This home may appeal to buyers and investors looking for a residence with clear room separation, an established bedroom layout, and practical site features such as the detached garage and a covered entry. The flexible upper-floor area can be useful for tenants who need extra space, or for operators planning interior adjustments without changing the overall footprint.
Key Highlights
- Brick home built in 1916 with hardwood flooring
- 3 bedrooms and 2 bathrooms, including a full bath on the upper floor
- Public water and public sewer connection
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
$13,231
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
4.99%
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%
$264,620
$264.6K
Cap Rate 7%
$189,014
$189.0K
Cap Rate 9%
$147,011
$147.0K
Market Conditions
NOI Build-Up for 1,434 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
$25.8K $18.00/SF
− Vacancy
−$1.8K −$1.22/SF
EGI
$24.1K $16.78/SF
− OpEx
−$10.8K −$7.55/SF
NOI
$13.2K $9.23/SF
Area
Allentown, PA
Vacancy
6.80%
Lease Rate
$18.00 /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%
$264,620
Cap Rate 7%
$189,014
Cap Rate 9%
$147,011
Alternative Uses
Best Use
Apartment 5plus
$189.0K
$165.4K – $220.5K
NOI $13,231 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$281.7K
$246.5K – $328.7K
NOI $19,720 @ 7.0% cap · market cap 7.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,356
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Single family property - Well-laid-out residence with 3 bedrooms, manageable outdoor space, and a detached garage for parking or storage needs.
Where is this single family property located?
The property is located at 1217 W Allen Street Allentown, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Brick home built in 1916 with hardwood flooring; 3 bedrooms and 2 bathrooms, including a full bath on the upper floor; Public water and public sewer connection
