Two-Unit Duplex with
For Sale
$285,000
1342 ALLEGHENY AVE, Reading, PA 19601
Fully occupied duplex with two one-bedroom residences, renovated garages, and private parking.
Property Size1,148 SF
Price / SF$248.26
Days on Market46
Property Features for 1342 ALLEGHENY AVE
General Information
Standard status
Active
Size
1,148 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Tenancy
Multi
Listing Agency:
JM Diamond Realty
(484) 219-9232
Listed By:
Jose F Manzueta · License #RM426115
(484) 219-9232
Source:
Graves
Added: Jul 15
Changed: Aug 28
Last Checked: Aug 28 at 8:29PM
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 JM Diamond Realty
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two separate one-bedroom residences, with one unit on each floor. Both apartments are currently occupied, and the property also includes garages that have been renovated and are rented separately. Private parking serves the property. The address provides access to major highways, stores, and schools while remaining outside the major city. The two-level configuration and additional garage space create a straightforward residential income property profile.
Key Highlights
- Two‑unit duplex with one one‑bedroom residence on each floor
- Both residential units are currently tenant occupied
- Garages have been recently renovated and are rented
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
$11,318
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
3.97%
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%
$226,360
$226.4K
Cap Rate 7%
$161,686
$161.7K
Cap Rate 9%
$125,756
$125.8K
Market Conditions
NOI Build-Up for 1,148 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
$16.8K $14.64/SF
− Vacancy
−$639 −$0.56/SF
EGI
$16.2K $14.08/SF
− OpEx
−$4.9K −$4.23/SF
NOI
$11.3K $9.86/SF
Area
Berks County, PA
Vacancy
3.80%
Lease Rate
$14.64 /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%
$226,360
Cap Rate 7%
$161,686
Cap Rate 9%
$125,756
Alternative Uses
Best Use
Multifamily LT 5
$161.7K
$141.5K – $188.6K
NOI $11,318 @ 7.0% cap · market cap 3.97%
Second Best
Apartment 5plus
$141.3K
$123.7K – $164.9K
NOI $9,892 @ 7.0% cap · market cap 3.47%
Theoretical Best
Office A
$188.5K
$164.9K – $219.9K
NOI $13,192 @ 7.0% cap · market cap 4.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
526
Businesses Nearby
Explore this area
Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
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 - Fully occupied duplex with two one-bedroom residences, renovated garages, and private parking.
Where is this duplex located?
The property is located at 1342 ALLEGHENY AVE Reading, PA.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two‑unit duplex with one one‑bedroom residence on each floor; Both residential units are currently tenant occupied; Garages have been recently renovated and are rented
