Updated Two-Unit
New
For Sale
$355,000
1251 Northampton Street, Easton, PA 18042
Capital improvements include updated electrical, plumbing, mechanical, and interior systems.
Property Size2,035 SF
Days on Market7
Property Features for 1251 Northampton Street
General Information
Standard status
Active
Size
2,035 SF
Property subtype
Apartment
Financials
Asking Price
$355,000
Cap Rate
8.79%
Gross Income
$37,800
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,726
Building Details
Building Size
2,035 SF
Year Built
1900
Listing Agency:
Paranee Properties
Listed By:
Joseph E. Paranee
(610) 657-9515
Source:
Bhhspaulfordrealtors
Added: Sep 2
Changed: Sep 4
Last Checked: Sep 8 at 10:16AM
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 Paranee Properties
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.
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 = 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
$13,453
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
3.79%
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%
$269,060
$269.1K
Cap Rate 7%
$192,186
$192.2K
Cap Rate 9%
$149,478
$149.5K
Market Conditions
NOI Build-Up for 2,035 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
$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 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%
$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
NOI $13,453 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$176.9K
$154.8K – $206.4K
NOI $12,383 @ 7.0% cap · market cap 3.49%
Theoretical Best
Office A
$386.0K
$337.7K – $450.3K
NOI $27,018 @ 7.0% cap · market cap 7.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
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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
