Brick Duplex with Two
For Sale
$264,900
1388 PERKIOMEN Avenue, Reading, PA 19602
Multi-Family, READING, PA
Property Size2,425 SF
Lot Size0.06 Acres
Price / SF$109.24
Days on Market45
Property Features for 1388 PERKIOMEN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Parking features
On Street
Middle school
SOUTHERN
Elementary school district
READING
Middle school district
READING
High school district
READING
Standard status
Active
Size
2,425 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
1616
Utilities
Heating system
Hot Water(Heating)
Building Details
Year built
1900
Number of units
2
Building materials
Brick
Architectural style
Other
Listing Agency:
Iron Valley Real Estate of Berks
(484) 450-8771
Listed By:
John H Gantkowski Jr. · License #rs299403
(610) 780-3024
Added: Aug 23
Changed: Sep 21
Last Checked: Oct 6 at 7:06AM
MLS# PABK2077208
Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This brick duplex contains 2,425 square feet and is fully rented. The first-floor residence has two bedrooms, while the second unit is configured as a four-bedroom residence extending across the second and third floors. Built in 1900, the property uses hot-water heating and includes on-street parking.
Set on a 0.06-acre lot at 1388 Perkiomen Avenue in Reading, Pennsylvania, the property is located in Berks County and carries the 19602 postal designation. Its two-unit layout provides distinct residential spaces within a compact multifamily building.
Set on a 0.06-acre lot at 1388 Perkiomen Avenue in Reading, Pennsylvania, the property is located in Berks County and carries the 19602 postal designation. Its two-unit layout provides distinct residential spaces within a compact multifamily building.
Key Highlights
- Two‑unit building with 2,425 square feet
- First‑floor unit includes 2 bedrooms
- Upper residence contains 4 bedrooms across the 2nd and 3rd floors
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.
Property Analytics
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Open Analytics
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
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?
Duplex - Fully occupied residential income property with a two-bedroom unit and a larger four-bedroom unit across two upper floors.
Where is this duplex located?
The property is located at 1388 PERKIOMEN Avenue 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 building with 2,425 square feet; First‑floor unit includes 2 bedrooms; Upper residence contains 4 bedrooms across the 2nd and 3rd floors
