Three-Unit Property with
New
For Sale
$160,000
445-449 Jefferson Ave, Washington, PA 15301
Mixed-use property with two occupied apartments, a third unit under renovation, and additional finished and unfinished areas.
Property Size797 SF
Price / SF$200.75
Days on Market7
Property Features for 445-449 Jefferson Ave
General Information
Standard status
Active
Size
797 SF
Property subtype
Multi-Family
Building Details
Year Built
1903
Listing Agency:
RE/MAX Real Estate Solutions
(412) 790-2779
Listed By:
Jackson Realty Group
(412) 790-2779
Source:
Jacksonrealty
Added: Aug 23
Changed: Aug 27
Last Checked: Aug 28 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 RE/MAX Real Estate Solutions
Investment Insights
Based on property information with market context.
This 1903 triplex includes a commercial storefront and three one-bedroom apartment areas. Two apartments are currently rented, while the third one-bedroom unit is slated for remodeling. The property also includes 797 square feet of additional finished area on the lower level, a large unfinished second floor formerly configured as an apartment, and a basement designated for storage.
The combination of storefront space, residential units, and supplementary areas creates a multi-level layout with several distinct components. Existing apartment occupancy is complemented by space requiring renovation and unfinished portions that may support additional use, subject to applicable approvals and construction requirements.
The combination of storefront space, residential units, and supplementary areas creates a multi-level layout with several distinct components. Existing apartment occupancy is complemented by space requiring renovation and unfinished portions that may support additional use, subject to applicable approvals and construction requirements.
Key Highlights
- Triplex with commercial storefront and three one‑bedroom apartment areas
- Two one‑bedroom apartments currently rented
- Third one‑bedroom apartment requires remodeling
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
$8,034
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
5.02%
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%
$160,680
$160.7K
Cap Rate 7%
$114,771
$114.8K
Cap Rate 9%
$89,267
$89.3K
Market Conditions
NOI Build-Up for 797 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
$12.0K $15.00/SF
− Vacancy
−$478 −$0.60/SF
EGI
$11.5K $14.40/SF
− OpEx
−$3.4K −$4.32/SF
NOI
$8.0K $10.08/SF
Area
Washington County, PA
Vacancy
4.00%
Lease Rate
$15.00 /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%
$160,680
Cap Rate 7%
$114,771
Cap Rate 9%
$89,267
Alternative Uses
Best Use
Retail
$114.8K
$100.4K – $133.9K
NOI $8,034 @ 7.0% cap · market cap 5.02%
Second Best
Multifamily LT 5
$99.1K
$86.7K – $115.6K
NOI $6,936 @ 7.0% cap · market cap 4.34%
Theoretical Best
Specialty Retail
$245.6K
$214.9K – $286.5K
NOI $17,191 @ 7.0% cap · market cap 10.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,572
Businesses Nearby
Explore this area
Business Placement
Demographics for 15301, PA
48,963
Population
24,001
Households
2
Avg Household Size
45
Median Age
27%
College-Educated
92%
High-School Grad
122.0 sq mi
ZIP Area
401
Density / Sq Mi
$69,275
Median Household Income
$43,546
Median Earnings
$927
Median Rent
$205,800
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?
Triplex - Mixed-use property with two occupied apartments, a third unit under renovation, and additional finished and unfinished areas.
Where is this triplex located?
The property is located at 445-449 Jefferson Ave Washington, PA.
What is the asking price?
The asking price for this property is $160,000.
What are key features of this property?
This property features: Triplex with commercial storefront and three one‑bedroom apartment areas; Two one‑bedroom apartments currently rented; Third one‑bedroom apartment requires remodeling
