Two-Unit Duplex
For Sale
$300,000
1222 W Gordon St, Allentown, PA 18102
Income-producing residential property with two separate units and an established rental operation.
Property Size2,044 SF
Price / SF$146.77
Days on Market42
Property Features for 1222 W Gordon St
General Information
Standard status
Active
Size
2,044 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,514
Listing Agency:
IronValley RE of Lehigh Valley
(610) 905-1320
Listed By:
Jacqueline Romero
(610) 905-1320
Source:
Exprealty
Added: Jul 21
Changed: Aug 20
Last Checked: Aug 30 at 10:16PM
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 IronValley RE of Lehigh Valley
Investment Insights
Based on property information with market context.
This duplex contains two residential units within approximately 2,044 square feet. The property is currently producing rental income and has been maintained by the owner, who has personally completed much of the repair and upkeep work.
The property is located at 1222 W Gordon St in Allentown, Pennsylvania. Its two-unit configuration provides a straightforward residential income property format for an investor seeking an existing rental asset.
The property is located at 1222 W Gordon St in Allentown, Pennsylvania. Its two-unit configuration provides a straightforward residential income property format for an investor seeking an existing rental asset.
Key Highlights
- Two‑unit duplex configuration
- Approximately 2,044 square feet
- Currently generating rental income
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
$21,441
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
7.15%
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%
$428,820
$428.8K
Cap Rate 7%
$306,300
$306.3K
Cap Rate 9%
$238,233
$238.2K
Market Conditions
NOI Build-Up for 2,044 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
$33.1K $16.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$30.6K $14.99/SF
− OpEx
−$9.2K −$4.50/SF
NOI
$21.4K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
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%
$428,820
Cap Rate 7%
$306,300
Cap Rate 9%
$238,233
Alternative Uses
Best Use
Multifamily LT 5
$306.3K
$268.0K – $357.4K
NOI $21,441 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$269.4K
$235.8K – $314.3K
NOI $18,860 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$401.6K
$351.4K – $468.5K
NOI $28,109 @ 7.0% cap · market cap 9.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,194
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
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 - Income-producing residential property with two separate units and an established rental operation.
Where is this duplex located?
The property is located at 1222 W Gordon St Allentown, PA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; Approximately 2,044 square feet; Currently generating rental income
