Updated Quadplex with
For Sale
$530,000
1337 Washington Street, Easton, PA 18042
Fully occupied property with tenant-paid utilities, lawn care, and snow removal.
Property Size3,778 SF
Days on Market54
Property Features for 1337 Washington Street
General Information
Standard status
Active
Size
3,778 SF
Total Parking Spaces
2
Property subtype
Apartment
Occupancy
100%
Net Operating Income
$54,746
Additional Details
Gross Income
$63,624
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,531
Building Details
Building Size
3,778 SF
Year Built
1922
Listing Agency:
Steel City Realty
Listed By:
Jennifer L. DeJesus · License #RM423820
(484) 895-9005
Source:
Bhhspaulfordrealtors
Added: Jul 29
Changed: Sep 18
Last Checked: Sep 19 at 10:35AM
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 Steel City Realty
Investment Insights
Based on property information with market context.
This fully occupied quadplex in Easton, Pennsylvania, was built in 1922 and has been updated with luxury vinyl plank flooring. The property includes a detached 2-car garage with a loft, adding functional space beyond the residential units. Tenants are responsible for utilities, lawn care, and snow removal, reducing the owner’s direct management obligations.
Located at 1337 Washington Street, the property is near downtown Easton, shopping, dining, and major commuter routes. Its combination of multifamily housing, a detached garage, and recent interior improvements provides a straightforward configuration for an owner-user or rental property investor.
Located at 1337 Washington Street, the property is near downtown Easton, shopping, dining, and major commuter routes. Its combination of multifamily housing, a detached garage, and recent interior improvements provides a straightforward configuration for an owner-user or rental property investor.
Key Highlights
- Quadplex at 1337 Washington Street in Easton, PA 18042
- Fully occupied multifamily property
- Detached 2‑car garage with loft
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
$24,976
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
4.71%
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%
$499,520
$499.5K
Cap Rate 7%
$356,800
$356.8K
Cap Rate 9%
$277,511
$277.5K
Market Conditions
NOI Build-Up for 3,778 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
$38.5K $10.20/SF
− Vacancy
−$2.9K −$0.76/SF
EGI
$35.7K $9.44/SF
− OpEx
−$10.7K −$2.83/SF
NOI
$25.0K $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%
$499,520
Cap Rate 7%
$356,800
Cap Rate 9%
$277,511
Alternative Uses
Best Use
Multifamily LT 5
$356.8K
$312.2K – $416.3K
NOI $24,976 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$328.4K
$287.4K – $383.2K
NOI $22,990 @ 7.0% cap · market cap 4.34%
Theoretical Best
Office A
$716.6K
$627.0K – $836.0K
NOI $50,160 @ 7.0% cap · market cap 9.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,200
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied property with tenant-paid utilities, lawn care, and snow removal.
Where is this quadplex located?
The property is located at 1337 Washington Street Easton, PA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Quadplex at 1337 Washington Street in Easton, PA 18042; Fully occupied multifamily property; Detached 2‑car garage with loft
