Updated Duplex with Detached
For Sale
$299,900
Pending
1603 W Tilghman St, Allentown, PA 18102
Two refreshed units offer private entrances, separate electric metering, and basement space with an exterior entry and full bath.
Property Size1,132 SF
Days on Market40
Property Features for 1603 W Tilghman St
General Information
Standard status
Pending
Size
1,132 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,528
Amenities
spacious basement with outside entrance and full bath
detached garage
private entrances
Listing Agency:
Weichert Realtors - Allentown
(610) 559-4281
Listed By:
Nidhi Sharma
(610) 559-4281
Source:
Exprealty
Added: Jul 24
Changed: Aug 21
Last Checked: Aug 30 at 8:17PM
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 Weichert Realtors - Allentown
Investment Insights
Based on property information with market context.
This duplex contains two refreshed units, each with a private entrance and its own electric meter. Both units are vacant, allowing the next owner to occupy one residence or lease both, subject to applicable requirements.
The property also includes a basement with an outside entrance and full bath, adding flexible living space. A detached garage provides an additional physical improvement. Shopping, medical facilities, Route 22, and major highways are located nearby.
The property also includes a basement with an outside entrance and full bath, adding flexible living space. A detached garage provides an additional physical improvement. Shopping, medical facilities, Route 22, and major highways are located nearby.
Key Highlights
- Two‑unit duplex with both residences currently vacant
- Each unit has a private entrance and separate electric meter
- Basement includes an outside entrance and full bath
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
$11,874
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
3.96%
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%
$237,480
$237.5K
Cap Rate 7%
$169,629
$169.6K
Cap Rate 9%
$131,933
$131.9K
Market Conditions
NOI Build-Up for 1,132 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
$18.3K $16.20/SF
− Vacancy
−$1.4K −$1.22/SF
EGI
$17.0K $14.99/SF
− OpEx
−$5.1K −$4.50/SF
NOI
$11.9K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /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%
$237,480
Cap Rate 7%
$169,629
Cap Rate 9%
$131,933
Alternative Uses
Best Use
Multifamily LT 5
$169.6K
$148.4K – $197.9K
NOI $11,874 @ 7.0% cap · market cap 3.96%
Second Best
Apartment 5plus
$149.2K
$130.6K – $174.1K
NOI $10,445 @ 7.0% cap · market cap 3.48%
Theoretical Best
Specialty Retail
$222.4K
$194.6K – $259.5K
NOI $15,567 @ 7.0% cap · market cap 5.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two refreshed units offer private entrances, separate electric metering, and basement space with an exterior entry and full bath.
Where is this duplex located?
The property is located at 1603 W Tilghman St Allentown, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with both residences currently vacant; Each unit has a private entrance and separate electric meter; Basement includes an outside entrance and full bath
