Renovated Two-Unit
For Sale
$325,000
1282 STEEL AVENUE, Bethlehem, PA 18015
Two-unit property with separate utilities, updated electric heat, a fenced yard, and flexible living arrangements.
Property Size2,106 SF
Price / SF$154.32
Days on Market16
Property Features for 1282 STEEL AVENUE
General Information
Standard status
Active
Size
2,106 SF
Property subtype
Duplex
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Amenities
fenced yard
basement
washer and dryer
Building Details
Year Built
1916
Listing Agency:
NextHome Legacy Real Estate
(610) 568-2017
Listed By:
Thomas J McDonald
(610) 568-2017
Source:
Cummingsrealtors
Added: Aug 8
Changed: Aug 22
Last Checked: Aug 22 at 4:04AM
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 NextHome Legacy Real Estate
Investment Insights
Based on property information with market context.
This two-unit duplex contains 2,106 square feet and was built in 1916. The second-floor residence has been renovated and includes two bedrooms, one full bathroom, an eat-in kitchen, and a spacious living room. The first-floor unit includes an eat-in kitchen, two additional bedrooms, one full bathroom, and a living room currently used as a bedroom.
Each unit is separately metered for electricity and has its own utilities. The property also includes a fenced yard, a large basement with additional finished-space potential, and a washer and dryer that remain. The heating system has been updated to electric, supporting distinct utility management for both residences.
Each unit is separately metered for electricity and has its own utilities. The property also includes a fenced yard, a large basement with additional finished-space potential, and a washer and dryer that remain. The heating system has been updated to electric, supporting distinct utility management for both residences.
Key Highlights
- 2,106‑square‑foot duplex built in 1916
- Two separate units with individually metered electricity and separated utilities
- Renovated second‑floor unit with 2 bedrooms and 1 full bathroom
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
$14,086
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
4.33%
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%
$281,720
$281.7K
Cap Rate 7%
$201,229
$201.2K
Cap Rate 9%
$156,511
$156.5K
Market Conditions
NOI Build-Up for 2,106 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
$21.7K $10.32/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$20.1K $9.56/SF
− OpEx
−$6.0K −$2.87/SF
NOI
$14.1K $6.69/SF
Area
Lehigh County, PA
Vacancy
7.41%
Lease Rate
$10.32 /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%
$281,720
Cap Rate 7%
$201,229
Cap Rate 9%
$156,511
Alternative Uses
Best Use
Multifamily LT 5
$201.2K
$176.1K – $234.8K
NOI $14,086 @ 7.0% cap · market cap 4.33%
Second Best
Apartment 5plus
$175.8K
$153.8K – $205.1K
NOI $12,303 @ 7.0% cap · market cap 3.79%
Theoretical Best
Mixed Use
$309.7K
$271.0K – $361.3K
NOI $21,679 @ 7.0% cap · market cap 6.67%
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
333
Businesses Nearby
Explore this area
Business Placement
Demographics for 18015, PA
33,286
Population
12,867
Households
2.6
Avg Household Size
32
Median Age
31%
College-Educated
87%
High-School Grad
23.2 sq mi
ZIP Area
1,435
Density / Sq Mi
$58,470
Median Household Income
$32,703
Median Earnings
$1,310
Median Rent
$243,100
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 - Two-unit property with separate utilities, updated electric heat, a fenced yard, and flexible living arrangements.
Where is this duplex located?
The property is located at 1282 STEEL AVENUE Bethlehem, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 2,106‑square‑foot duplex built in 1916; Two separate units with individually metered electricity and separated utilities; Renovated second‑floor unit with 2 bedrooms and 1 full bathroom
