Two-Unit Duplex Investment
New
For Sale
$299,900
1242 Butler St, Easton, PA 18042
Fully occupied duplex with two large one-bedroom residences and landlord-paid water, sewer, and trash.
Property Size1,304 SF
Price / SF$229.98
Days on Market6
Property Features for 1242 Butler St
General Information
Standard status
Active
Size
1,304 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
EXP Realty LLC
Listed By:
Akinlana Popoola · License #RS379206
(412) 925-5551
Source:
Jennysoldmine
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 9 at 8:48PM
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 EXP Realty LLC
Investment Insights
Based on property information with market context.
This 1,304-square-foot duplex, built in 1900, contains two large one-bedroom units. Both residences are occupied by long-term Section 8 tenants, and the property is fully occupied. Landlord responsibilities are limited to water, sewer, and trash, creating a straightforward operating structure.
The property is located at 1242 Butler St in Easton, with access to downtown Easton, Lafayette College, St. Luke’s Easton Campus, shopping, dining, entertainment, and major roads across the Lehigh Valley. Butler Street provides a connected corridor for reaching area amenities and transportation routes.
The property is located at 1242 Butler St in Easton, with access to downtown Easton, Lafayette College, St. Luke’s Easton Campus, shopping, dining, entertainment, and major roads across the Lehigh Valley. Butler Street provides a connected corridor for reaching area amenities and transportation routes.
Key Highlights
- Two‑unit duplex with 1,304 SF of building area
- Two large 1‑bedroom units
- Fully occupied by long‑term Section 8 tenants
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
$8,621
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
2.87%
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%
$172,420
$172.4K
Cap Rate 7%
$123,157
$123.2K
Cap Rate 9%
$95,789
$95.8K
Market Conditions
NOI Build-Up for 1,304 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
$13.3K $10.20/SF
− Vacancy
−$986 −$0.76/SF
EGI
$12.3K $9.44/SF
− OpEx
−$3.7K −$2.83/SF
NOI
$8.6K $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%
$172,420
Cap Rate 7%
$123,157
Cap Rate 9%
$95,789
Alternative Uses
Best Use
Multifamily LT 5
$123.2K
$107.8K – $143.7K
NOI $8,621 @ 7.0% cap · market cap 2.87%
Second Best
Apartment 5plus
$113.4K
$99.2K – $132.3K
NOI $7,935 @ 7.0% cap · market cap 2.65%
Theoretical Best
Office A
$247.3K
$216.4K – $288.6K
NOI $17,313 @ 7.0% cap · market cap 5.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
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
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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?
Duplex - Fully occupied duplex with two large one-bedroom residences and landlord-paid water, sewer, and trash.
Where is this duplex located?
The property is located at 1242 Butler St Easton, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with 1,304 SF of building area; Two large 1‑bedroom units; Fully occupied by long‑term Section 8 tenants
