Duplex with Two One-Bedroom
New
For Sale
$299,900
1242 Butler Street, Easton, PA 18042
ResidentialIncome, Easton, PA
Property Size1,304 SF
Lot Size0.06 Acres
Price / SF$229.98
Days on Market7
Property Features for 1242 Butler Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
10BNS
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1
Parking
3
Subdivision
Not in Development
Elementary school district
Easton
Middle school district
Easton
High school district
Easton
Directions
From Route 22, take the 13th Street exit toward Easton and continue south toward Butler Street. Turn left onto Butler Street and continue east-1242 Butler Street will be on your right.
Standard status
Active
APN
L9SE4A-1-2-0310
Size
1,304 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
2726
Utilities
Sewer type
Public Sewer
Heating system
Steam, Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
VinylSiding
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Akinlana Popoola · License #RS379206
(610) 735-6082
Added: Aug 26
Last Checked: Sep 1 at 11:06PM
MLS# 780712
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.
This 1,304-square-foot duplex contains two one-bedroom apartments and was built in 1900. The property is fully occupied by long-term Section 8 tenants, with each unit providing a straightforward residential rental configuration. Vinyl siding, window-unit cooling, steam and forced-air heating, public water, and public sewer are among the documented property features.
The building sits on 0.057 acres at 1242 Butler Street in Easton, with access to downtown Easton, Lafayette College, St. Luke's Easton Campus, shopping, dining, entertainment, and major Lehigh Valley roads. The landlord is responsible for water, sewer, and trash expenses. Zoning is identified as 10BNS.
The building sits on 0.057 acres at 1242 Butler Street in Easton, with access to downtown Easton, Lafayette College, St. Luke's Easton Campus, shopping, dining, entertainment, and major Lehigh Valley roads. The landlord is responsible for water, sewer, and trash expenses. Zoning is identified as 10BNS.
Key Highlights
- Two 1‑bedroom units within a 1,304‑square‑foot duplex
- Fully occupied by long‑term Section 8 tenants
- Built in 1900 on a 0.057‑acre lot
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
$8,621
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
2.87%
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%
$172,420
$172.4K
Cap Rate 7%
$123,157
$123.2K
Cap Rate 9%
$95,789
$95.8K
Market Conditions
NOI Build-Up for 1,304 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
$13.3K $10.20/SF
− Vacancy
−$986 −$0.76/SF
EGI
$12.3K $9.44/SF
− OpEx
−$3.7K −$2.83/SF
NOI
$8.6K $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%
$172,420
Cap Rate 7%
$123,157
Cap Rate 9%
$95,789
Alternative Uses
Best Use
Multifamily LT 5
$123.2K
$107.8K – $143.7K
NOI $8,621 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$113.4K
$99.2K – $132.3K
NOI $7,935 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$247.3K
$216.4K – $288.6K
NOI $17,313 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,200
Businesses Nearby
Explore this area
Business Placement
Demographics for 18042, PA
44,026
Population
17,932
Households
2.5
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
1,992
Density / Sq Mi
$75,806
Median Household Income
$40,015
Median Earnings
$1,245
Median Rent
$205,900
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 - Fully occupied duplex with two rental units and public water and sewer service.
Where is this duplex located?
The property is located at 1242 Butler Street Easton, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two 1‑bedroom units within a 1,304‑square‑foot duplex; Fully occupied by long‑term Section 8 tenants; Built in 1900 on a 0.057‑acre lot
