Multifamily Asset with Income
For Sale
Contact for pricing
123 main st, Easton, PA 18102
Three-unit multifamily property with stable income and rent-growth upside.
Property Size2,260 SF
Price / SF$188.05
Days on Market179
Property Features for 123 main st
General Information
Standard status
Active
Size
2,260 SF
Class
B
Property subtype
Multifamily
Zoning
C
Building Details
Year Built
1900
Listing Agency:
eXp Commercial
(888) 397-7352
Listed By:
James Reardon · License #PA RS337438
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 8 at 6:44AM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This well-located three-unit multifamily asset generates $44,341 in gross income and $39,575 in net income. The property includes a standalone single-family residence at 318 and a separate two-unit building at 320, offering operational separation. The unit mix consists of two 2-bedroom/1-bath units and one 1-bedroom/1-bath unit. All units are fully occupied with staggered lease expirations through November 2026. Tenants are responsible for all utilities, including gas heat, electric, and water. Water is submetered and is the tenants’ responsibility. Landlord expenses are minimal, limited to taxes and insurance, both fully documented. The in-place rents provide stable monthly income, with potential for rent adjustments based on current market conditions. This asset is suitable for investors seeking a stabilized small multifamily property with a strong unit mix, operational clarity, and rent-growth upside. The property size is 2260 square feet.
Key Highlights
- Strong Net Operating Income: Property generates $39,575 in net income.
- Fully Occupied with Staggered Leases: All units are currently occupied with lease expirations extending through November 2026.
- Tenant‑Paid Utilities: Tenants are responsible for all utilities, including gas, electric, and water (submetered).
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
$14,941
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
3.52%
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%
$298,820
$298.8K
Cap Rate 7%
$213,443
$213.4K
Cap Rate 9%
$166,011
$166.0K
Market Conditions
NOI Build-Up for 2,260 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
$23.1K $10.20/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$21.3K $9.44/SF
− OpEx
−$6.4K −$2.83/SF
NOI
$14.9K $6.61/SF
Area
Northampton County, PA
Vacancy
7.41%
Lease Rate
$10.20 /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%
$298,820
Cap Rate 7%
$213,443
Cap Rate 9%
$166,011
Alternative Uses
Best Use
Multifamily LT 5
$213.4K
$186.8K – $249.0K
NOI $14,941 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$196.5K
$171.9K – $229.2K
NOI $13,753 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$428.7K
$375.1K – $500.1K
NOI $30,006 @ 7.0% cap · market cap 7.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
985
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?
Triplex - Three-unit multifamily property with stable income and rent-growth upside.
Where is this triplex located?
The property is located at 123 main st Easton, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Strong Net Operating Income: Property generates $39,575 in net income.; Fully Occupied with Staggered Leases: All units are currently occupied with lease expirations extending through November 2026.; Tenant‑Paid Utilities: Tenants are responsible for all utilities, including gas, electric, and water (submetered).
