Triplex with Three
For Sale
$459,900
1501 Washington St, Easton, PA 18042
Separate utility metering places electric, water, and heating responsibilities with each unit’s occupants.
Property Size2,708 SF
Price / SF$169.83
Days on Market27
Property Features for 1501 Washington St
General Information
Standard status
Active
Size
2,708 SF
Total Parking Spaces
5
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR, 1 x 2BR, 1 x 1BR
Multifamily Units
3
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$6,092
Listing Agency:
Allentown City Realty
(610) 570-3477
Listed By:
Kelvin Diaz
(610) 570-3477
Source:
Exprealty
Added: Jul 29
Changed: Aug 22
Last Checked: Aug 24 at 10:40AM
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 Allentown City Realty
Investment Insights
Based on property information with market context.
This triplex includes three separate residences with a combined six bedrooms and three full bathrooms. The unit mix consists of one three-bedroom apartment, one two-bedroom apartment, and one one-bedroom apartment. Heating is provided through both gas and electric systems, and utilities are separately metered for each unit, with occupants responsible for electric, water, and heat.
The property at 1501 Washington St in Easton, Pennsylvania, includes three one-car garages, a driveway accommodating two additional vehicles, and a spacious backyard. The location provides access to major highways serving New Jersey and New York and is near shopping, dining, and everyday conveniences.
The property at 1501 Washington St in Easton, Pennsylvania, includes three one-car garages, a driveway accommodating two additional vehicles, and a spacious backyard. The location provides access to major highways serving New Jersey and New York and is near shopping, dining, and everyday conveniences.
Key Highlights
- Three‑unit configuration with one 3‑bedroom, one 2‑bedroom, and one 1‑bedroom unit
- Combined total of 6 bedrooms and 3 full bathrooms
- Each unit has separately metered electric, water, and heat
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
$17,902
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
3.89%
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%
$358,040
$358.0K
Cap Rate 7%
$255,743
$255.7K
Cap Rate 9%
$198,911
$198.9K
Market Conditions
NOI Build-Up for 2,708 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
$27.6K $10.20/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$25.6K $9.44/SF
− OpEx
−$7.7K −$2.83/SF
NOI
$17.9K $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%
$358,040
Cap Rate 7%
$255,743
Cap Rate 9%
$198,911
Alternative Uses
Best Use
Multifamily LT 5
$255.7K
$223.8K – $298.4K
NOI $17,902 @ 7.0% cap · market cap 3.89%
Second Best
Apartment 5plus
$235.4K
$206.0K – $274.7K
NOI $16,479 @ 7.0% cap · market cap 3.58%
Theoretical Best
Office A
$513.6K
$449.4K – $599.2K
NOI $35,954 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,174
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Separate utility metering places electric, water, and heating responsibilities with each unit’s occupants.
Where is this triplex located?
The property is located at 1501 Washington St Easton, PA.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Three‑unit configuration with one 3‑bedroom, one 2‑bedroom, and one 1‑bedroom unit; Combined total of 6 bedrooms and 3 full bathrooms; Each unit has separately metered electric, water, and heat
