Two-Unit Duplex
New
For Sale
$264,900
1388 PERKIOMEN AVE, Reading, PA 19602
Both residences are occupied, with a two-bedroom unit on the first floor and a four-bedroom home across the upper levels.
Property Size2,425 SF
Price / SF$109.24
Days on Market3
Property Features for 1388 PERKIOMEN AVE
General Information
Standard status
Active
Size
2,425 SF
Property subtype
Multi-family
Occupancy
100%
Units
Unit Mix
1 x 2BR, 1 x 4BR
Multifamily Units
2
Building Details
Buildings
1
Listing Agency:
Iron Valley Real Estate of Berks
(484) 450-8771
Listed By:
John H Gantkowski Jr. · License #rs299403
(610) 780-3024
Source:
Hostetterrealty
Added: Oct 14
Changed: Oct 15
Last Checked: Oct 16 at 9:04AM
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 Iron Valley Real Estate of Berks
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Investment Insights
Based on property information with market context.
This duplex contains two residential units totaling 2,425 square feet. The first-floor residence has two bedrooms, while the larger second unit offers four bedrooms across the second and third floors. Both units are fully rented, providing existing occupancy in a two-unit configuration.
Key Highlights
- Two‑unit residential building totaling 2,425 square feet
- Fully rented at present
- First‑floor unit has 2 bedrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,907
Cap Rate
9.02%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$478,140
$478.1K
Cap Rate 7%
$341,529
$341.5K
Cap Rate 9%
$265,633
$265.6K
Market Conditions
NOI Build-Up for 2,425 SF
Gross rent
$35.5K $14.64/SF
− Vacancy
−$1.3K −$0.56/SF
EGI
$34.2K $14.08/SF
− OpEx
−$10.2K −$4.23/SF
NOI
$23.9K $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 Rate 5%
$478,140
Cap Rate 7%
$341,529
Cap Rate 9%
$265,633
Alternative Uses
Best Use
Multifamily LT 5
$341.5K
$298.8K – $398.5K
NOI $23,907 @ 7.0% cap · market cap 9.02%
Second Best
Apartment 5plus
$298.5K
$261.2K – $348.3K
NOI $20,896 @ 7.0% cap · market cap 7.89%
Theoretical Best
Office A
$398.1K
$348.3K – $464.4K
NOI $27,866 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
723
Businesses Nearby
Explore this area
Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
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
Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied, with a two-bedroom unit on the first floor and a four-bedroom home across the upper levels.
Where is this duplex located?
The property is located at 1388 PERKIOMEN AVE Reading, PA.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Two‑unit residential building totaling 2,425 square feet; Fully rented at present; First‑floor unit has 2 bedrooms
