All-Brick Duplex with Detached
For Sale
$340,000
Pending
1508 Delaware Ave, Wyomissing, PA 19610
Two residential units provide one-bedroom and two-bedroom layouts, plus a flexible third-floor area and shared basement laundry.
Property Size1,723 SF
Days on Market95
Property Features for 1508 Delaware Ave
General Information
Standard status
Pending
Size
1,723 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,418
Listing Agency:
RE/MAX Of Reading
(610) 670-2770
Listed By:
Robert Kearney · License #AB046642A
(610) 587-3419
Source:
Exprealty
Added: May 31
Changed: Sep 2
Last Checked: Aug 31 at 7:10PM
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 RE/MAX Of Reading
Investment Insights
Based on property information with market context.
This all-brick, semi-detached duplex in Wyomissing contains two residential units within 1,723 square feet of property size. The first-floor apartment has one bedroom and is occupied by a long-term tenant. A separate two-bedroom residence spans the second and third floors, with the top floor offering additional space identified for use as a studio, home office, or living area.
Both units have access to a shared laundry area in the basement. The property also includes an all-brick detached garage that is currently unleased and can provide storage or a separate rental arrangement. Located at 1508 Delaware Ave in Wyomissing, PA, the building combines a two-unit configuration with brick construction and supplemental garage space.
Both units have access to a shared laundry area in the basement. The property also includes an all-brick detached garage that is currently unleased and can provide storage or a separate rental arrangement. Located at 1508 Delaware Ave in Wyomissing, PA, the building combines a two-unit configuration with brick construction and supplemental garage space.
Key Highlights
- Two‑unit duplex at 1508 Delaware Ave, Wyomissing, PA
- 1,723 square feet of property size
- First‑floor unit with 1 bedroom and a long‑term tenant
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
$16,986
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
5.00%
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%
$339,720
$339.7K
Cap Rate 7%
$242,657
$242.7K
Cap Rate 9%
$188,733
$188.7K
Market Conditions
NOI Build-Up for 1,723 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
$25.2K $14.64/SF
− Vacancy
−$959 −$0.56/SF
EGI
$24.3K $14.08/SF
− OpEx
−$7.3K −$4.23/SF
NOI
$17.0K $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%
$339,720
Cap Rate 7%
$242,657
Cap Rate 9%
$188,733
Alternative Uses
Best Use
Multifamily LT 5
$242.7K
$212.3K – $283.1K
NOI $16,986 @ 7.0% cap · market cap 5.00%
Second Best
Apartment 5plus
$212.1K
$185.6K – $247.5K
NOI $14,847 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$282.8K
$247.5K – $330.0K
NOI $19,799 @ 7.0% cap · market cap 5.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
528
Businesses Nearby
Explore this area
Business Placement
Demographics for 19610, PA
16,024
Population
7,327
Households
2.2
Avg Household Size
46
Median Age
54%
College-Educated
98%
High-School Grad
7.1 sq mi
ZIP Area
2,257
Density / Sq Mi
$91,034
Median Household Income
$52,707
Median Earnings
$1,669
Median Rent
$320,100
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 residential units provide one-bedroom and two-bedroom layouts, plus a flexible third-floor area and shared basement laundry.
Where is this duplex located?
The property is located at 1508 Delaware Ave Wyomissing, PA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑unit duplex at 1508 Delaware Ave, Wyomissing, PA; 1,723 square feet of property size; First‑floor unit with 1 bedroom and a long‑term tenant
