Renovated Duplex with Off-Street
For Sale
$279,900
Pending
149 N FRONT STREET, Reading, PA 19601
Two separate units offer updated kitchens and distinct living areas.
Property Size1,950 SF
Days on Market17
Property Features for 149 N FRONT STREET
General Information
Standard status
Pending
Size
1,950 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Realty One Group Alliance
(610) 816-3873
Listed By:
Jose Espinal Gil · License #RS360737
(610) 816-3873
Source:
Cummingsrealtors
Added: Aug 7
Changed: Aug 23
Last Checked: Aug 22 at 4:34AM
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 Realty One Group Alliance
Investment Insights
Based on property information with market context.
This 1,950-square-foot duplex, built in 1900, contains two separate residential units with distinct living spaces. Unit 1 includes 2 bedrooms and 1 full bathroom, while Unit 2 provides 3 bedrooms and 1 full bathroom along with an open-concept living area.
Recent improvements include new gas heating systems, electrical and plumbing upgrades, replacement windows, and remodeled kitchens with quartz countertops and new cabinetry. The property also provides off-street parking at the rear. Water service is the owner’s responsibility, while the separate layouts support independent occupancy arrangements.
Recent improvements include new gas heating systems, electrical and plumbing upgrades, replacement windows, and remodeled kitchens with quartz countertops and new cabinetry. The property also provides off-street parking at the rear. Water service is the owner’s responsibility, while the separate layouts support independent occupancy arrangements.
Key Highlights
- 1,950‑square‑foot duplex with two separate residential units
- Unit 1 includes 2 bedrooms and 1 full bathroom
- Unit 2 offers 3 bedrooms, 1 full bathroom, and an open‑concept layout
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
$19,224
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
6.87%
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%
$384,480
$384.5K
Cap Rate 7%
$274,629
$274.6K
Cap Rate 9%
$213,600
$213.6K
Market Conditions
NOI Build-Up for 1,950 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
$28.5K $14.64/SF
− Vacancy
−$1.1K −$0.56/SF
EGI
$27.5K $14.08/SF
− OpEx
−$8.2K −$4.23/SF
NOI
$19.2K $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%
$384,480
Cap Rate 7%
$274,629
Cap Rate 9%
$213,600
Alternative Uses
Best Use
Multifamily LT 5
$274.6K
$240.3K – $320.4K
NOI $19,224 @ 7.0% cap · market cap 6.87%
Second Best
Apartment 5plus
$240.0K
$210.0K – $280.1K
NOI $16,803 @ 7.0% cap · market cap 6.00%
Theoretical Best
Office A
$320.1K
$280.1K – $373.5K
NOI $22,408 @ 7.0% cap · market cap 8.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,151
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 - Two separate units offer updated kitchens and distinct living areas.
Where is this duplex located?
The property is located at 149 N FRONT STREET Reading, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 1,950‑square‑foot duplex with two separate residential units; Unit 1 includes 2 bedrooms and 1 full bathroom; Unit 2 offers 3 bedrooms, 1 full bathroom, and an open‑concept layout
