Duplex with Remodeled Garage
For Sale
$309,900
Pending
1237 CARBON STREET, Reading, PA 19601
Two-story 3BR/1.5BA home plus 2BR/1BA apartment over a detached two-car garage, remodeled 2021–2022.
Property Size2,060 SF
Days on Market103
Property Features for 1237 CARBON STREET
General Information
Standard status
Pending
Size
2,060 SF
Property subtype
Duplex
Additional Details
Highway Access
Yes
Multifamily Units
2
Building Details
Year Built
1950
Listing Agency:
Iron Valley Real Estate of Berks
(484) 450-8771
Listed By:
Justin M Crossley · License #AB067575
(610) 451-2169
Source:
Cummingsrealtors
Added: Jul 24
Changed: Nov 3
Last Checked: Nov 3 at 6:55AM
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 Iron Valley Real Estate of Berks
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Investment Insights
Based on property information with market context.
This duplex at 1237 Carbon Street in Reading, PA features two separate units. The main house is a two-story 3-bedroom, 1.5-bath home. One of the bedrooms is described as a small walkthrough space, better suited to be used as an office. A second unit consists of a 2-bedroom, 1-bath apartment located over a detached two-car garage. The apartment was completely remodeled in 2021–2022.
The property is positioned in an established neighborhood with access to a neighborhood trail connecting Glenside Park to Blue Marsh Lake. Commuters also have quick access to major routes including Rt 12, Rt 222/422, and Rt 183. The remarks further cite a turn-key gross monthly revenue potential of $2,700–$2,800.
The property is positioned in an established neighborhood with access to a neighborhood trail connecting Glenside Park to Blue Marsh Lake. Commuters also have quick access to major routes including Rt 12, Rt 222/422, and Rt 183. The remarks further cite a turn-key gross monthly revenue potential of $2,700–$2,800.
Key Highlights
- Two‑story 3BR/1.5BA home plus 2BR/1BA apartment over a detached two‑car garage
- Apartment above the detached garage was completely remodeled in 2021–2022
- Apartment size is 800 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,309
Cap Rate
6.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$406,180
$406.2K
Cap Rate 7%
$290,129
$290.1K
Cap Rate 9%
$225,656
$225.7K
Market Conditions
NOI Build-Up for 2,060 SF
Gross rent
$30.2K $14.64/SF
− Vacancy
−$1.1K −$0.56/SF
EGI
$29.0K $14.08/SF
− OpEx
−$8.7K −$4.23/SF
NOI
$20.3K $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%
$406,180
Cap Rate 7%
$290,129
Cap Rate 9%
$225,656
Alternative Uses
Best Use
Multifamily LT 5
$290.1K
$253.9K – $338.5K
NOI $20,309 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$253.6K
$221.9K – $295.9K
NOI $17,751 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$338.2K
$295.9K – $394.5K
NOI $23,672 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
573
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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-story 3BR/1.5BA home plus 2BR/1BA apartment over a detached two-car garage, remodeled 2021–2022.
Where is this duplex located?
The property is located at 1237 CARBON STREET Reading, PA.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Two‑story 3BR/1.5BA home plus 2BR/1BA apartment over a detached two‑car garage; Apartment above the detached garage was completely remodeled in 2021–2022; Apartment size is 800 SF
