Multifamily Property with Finished
For Sale
$234,900
274 E Elm St, Allentown, PA 18104
Updated kitchen, finished attic, manageable yard, and off-street parking support practical residential use.
Property Size1,281 SF
Price / SF$183.37
Days on Market35
Property Features for 274 E Elm St
General Information
Standard status
Active
Size
1,281 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Howard Hanna The Frederick Group
(610) 398-0411
Listed By:
Heather Kidd · License #RS371202
Source:
Harkesrealty
Added: Jul 29
Changed: Aug 29
Last Checked: Aug 30 at 8:54PM
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 Howard Hanna The Frederick Group
Investment Insights
Based on property information with market context.
This multifamily property at 274 E Elm St in Allentown offers 1,281 square feet of residential space within a home built in 1900. The layout includes comfortable living areas, an updated kitchen, well-proportioned bedrooms, and a finished attic that adds flexible usable space. Recent improvements and efficient mechanical systems are also noted.
The exterior includes a manageable yard and off-street parking options. These features provide practical functionality for occupants while keeping the property’s outdoor areas straightforward to maintain.
The exterior includes a manageable yard and off-street parking options. These features provide practical functionality for occupants while keeping the property’s outdoor areas straightforward to maintain.
Key Highlights
- 1,281‑square‑foot multifamily property at 274 E Elm St, Allentown, PA 18104
- Built in 1900 with recent improvements noted
- Finished attic adds flexible usable space
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
$11,820
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
5.03%
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%
$236,400
$236.4K
Cap Rate 7%
$168,857
$168.9K
Cap Rate 9%
$131,333
$131.3K
Market Conditions
NOI Build-Up for 1,281 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
$23.1K $18.00/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$21.5K $16.78/SF
− OpEx
−$9.7K −$7.55/SF
NOI
$11.8K $9.23/SF
Area
Allentown, PA
Vacancy
6.80%
Lease Rate
$18.00 /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%
$236,400
Cap Rate 7%
$168,857
Cap Rate 9%
$131,333
Alternative Uses
Best Use
Apartment 5plus
$168.9K
$147.8K – $197.0K
NOI $11,820 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$251.7K
$220.2K – $293.6K
NOI $17,616 @ 7.0% cap · market cap 7.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
Explore this area
Business Placement
Demographics for 18104, PA
47,289
Population
18,686
Households
2.5
Avg Household Size
42
Median Age
45%
College-Educated
93%
High-School Grad
23.0 sq mi
ZIP Area
2,056
Density / Sq Mi
$94,279
Median Household Income
$48,585
Median Earnings
$1,620
Median Rent
$296,800
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?
Multifamily property - Updated kitchen, finished attic, manageable yard, and off-street parking support practical residential use.
Where is this multifamily property located?
The property is located at 274 E Elm St Allentown, PA.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: 1,281‑square‑foot multifamily property at 274 E Elm St, Allentown, PA 18104; Built in 1900 with recent improvements noted; Finished attic adds flexible usable space
