9-Unit Brick Apartment
For Sale
$550,000
14 E Pike St, Houston, PA 15342
Recent unit updates and a new roof enhance this solid brick multifamily property.
Property Size5,169 SF
Days on Market35
Property Features for 14 E Pike St
General Information
Standard status
Active
Size
5,169 SF
Property subtype
Multifamily
Units
Unit Mix
8 x 1BD/1BA, 1 x 2BD/1BA
Multifamily Units
9
Additional Details
Highway Access
Yes
Building Details
Building Size
5,169 SF
Buildings
1
Construction
brick
Listing Agency:
SVN | Three Rivers Commercial Advisors
Listed By:
Perry Nickleach II · License #PA #RS361479
(724) 859-8091
Source:
Svn
Added: Aug 2
Changed: Sep 3
Last Checked: Sep 5 at 6:29AM
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 SVN | Three Rivers Commercial Advisors
Investment Insights
Based on property information with market context.
Located at 14 E Pike St in Houston, PA, this solid brick apartment property contains nine residential units. The configuration includes eight one-bedroom, one-bath apartments and one two-bedroom, one-bath apartment, providing a mix of smaller and larger layouts within the same building.
Recent capital work includes updates to seven units and installation of a new roof. The property is near S Main St with access to I79, while residents are responsible for their own electric service. Its unit mix, brick construction, and completed improvements provide a clear overview of the building’s physical configuration and operating structure.
Recent capital work includes updates to seven units and installation of a new roof. The property is near S Main St with access to I79, while residents are responsible for their own electric service. Its unit mix, brick construction, and completed improvements provide a clear overview of the building’s physical configuration and operating structure.
Key Highlights
- Nine‑unit apartment building with 8 x 1BD/1BA units and 1 x 2BD/1BA unit
- Updates completed in 7 of the 9 units
- New roof installed
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
$42,606
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
7.75%
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%
$852,120
$852.1K
Cap Rate 7%
$608,657
$608.7K
Cap Rate 9%
$473,400
$473.4K
Market Conditions
NOI Build-Up for 5,169 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
$83.1K $16.08/SF
− Vacancy
−$5.7K −$1.09/SF
EGI
$77.5K $14.99/SF
− OpEx
−$34.9K −$6.74/SF
NOI
$42.6K $8.24/SF
Area
Washington County, PA
Vacancy
6.80%
Lease Rate
$16.08 /SF/Yr
Expense Ratio
45.00%
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%
$852,120
Cap Rate 7%
$608,657
Cap Rate 9%
$473,400
Alternative Uses
Best Use
Apartment 5plus
$608.7K
$532.6K – $710.1K
NOI $42,606 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.59M
$1.39M – $1.86M
NOI $111,492 @ 7.0% cap · market cap 20.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
9
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
257
Businesses Nearby
Explore this area
Business Placement
Demographics for 15342, PA
5,066
Population
2,493
Households
2
Avg Household Size
45
Median Age
36%
College-Educated
93%
High-School Grad
3.2 sq mi
ZIP Area
1,583
Density / Sq Mi
$89,702
Median Household Income
$56,603
Median Earnings
$1,067
Median Rent
$251,000
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?
Apartment building - Recent unit updates and a new roof enhance this solid brick multifamily property.
Where is this apartment building located?
The property is located at 14 E Pike St Houston, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Nine‑unit apartment building with 8 x 1BD/1BA units and 1 x 2BD/1BA unit; Updates completed in 7 of the 9 units; New roof installed
