Building Details

Building Size 2,035 SF

Year Built 1900

Listing Agency: Paranee Properties

Listed By: Joseph E. Paranee Show Phone

Source: Bhhspaulfordrealtors

Added: Sep 2 Changed: Oct 25 Last Checked: Oct 28 at 1:46PM

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Investment Insights

Based on property information with market context.

This two-unit duplex at 1251 Northampton Street includes refreshed interiors and substantial building-system work. Both residences received new flooring, while multiple windows were replaced. Electrical service was rewired throughout, with a dedicated landlord house meter added. The property also has two new hot water heaters, two energy-efficient boilers, and a new chimney liner. Its plumbing layout was redesigned to allow future separation of water and sewer service by unit. The roof replacement was completed approximately in 2013, and the building dates to 1900.

The lower residence generates $1,475 per month and the upper residence generates $1,675 per month, producing $37,800 in annual gross income. The property is reported at an 8.79% actual cap rate with a 17.5% operating expense ratio. Separate tenant utility footprints are in place, with additional utility separation available through the redesigned plumbing configuration.

Key Highlights

• Two‑unit duplex with updated interiors and building systems
• Both units rewired; dedicated landlord house meter installed
• Two new hot water heaters and two energy‑efficient boilers

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,453

Cap Rate

3.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$269,060 $269.1K

Cap Rate 7%

$192,186 $192.2K

Cap Rate 9%

$149,478 $149.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,035 SF

Gross rent

$20.8K $10.20/SF

− Vacancy

−$1.5K −$0.76/SF

EGI

$19.2K $9.44/SF

− OpEx

−$5.8K −$2.83/SF

NOI

$13.5K $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 Rate 5%

$269,060

Cap Rate 7%

$192,186

Cap Rate 9%

$149,478

Alternative Uses

Best Use

Multifamily LT 5

$192.2K

$168.2K – $224.2K (±1% cap)

NOI $13,453 @ 7.0% cap · market cap 3.79%

Second Best

Apartment 5plus

$176.9K

$154.8K – $206.4K (±1% cap)

NOI $12,383 @ 7.0% cap · market cap 3.49%

Theoretical Best

Office A

$386.0K

$337.7K – $450.3K (±1% cap)

NOI $27,018 @ 7.0% cap · market cap 7.61%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

2

Residential units

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

1,134

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

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Capital improvements include updated electrical, plumbing, mechanical, and interior systems.

Where is this duplex located?

The property is located at 1251 Northampton Street Easton, PA.

What is the asking price?

The asking price for this property is $355,000.

What are key features of this property?

This property features: Two‑unit duplex with updated interiors and building systems; Both units rewired; dedicated landlord house meter installed; Two new hot water heaters and two energy‑efficient boilers