Three-Unit Interior
For Sale
$249,900
Pending
163 W GREENWICH STREET, Reading, PA 19601
Registered interior townhouse with a two-bedroom and one-bedroom unit mix.
Property Size2,408 SF
Days on Market220
Property Features for 163 W GREENWICH STREET
General Information
Standard status
Pending
Size
2,408 SF
Property subtype
Triplex
Units
Unit Mix
2 x 2-bedroom, 1 x 1-bedroom
Multifamily Units
3
Building Details
Building Size
2,408 SF
Year Built
1910
Stories
3
Listing Agency:
Keller Williams Platinum Realty - Wyomissing
(610) 898-1441
Listed By:
Rebecca L. Quell
(610) 898-1441
Source:
Tylermillerteam.kw
Added: Jan 22
Changed: Aug 29
Last Checked: Aug 30 at 1:19PM
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 Keller Williams Platinum Realty - Wyomissing
Investment Insights
Based on property information with market context.
Located at 163 W Greenwich Street in Reading, this registered interior townhouse is configured as a three-unit multifamily property. The layout includes two 2-bedroom units and one 1-bedroom unit, creating a defined mix within the building. Each residence is described as having a functional floor plan with natural light and room for future updates. Built in 1910, the property offers an established multifamily configuration for an investor or an owner-occupant seeking multiple residential units. The building’s interior townhouse design and varied unit sizes provide distinct spaces within a compact residential asset.
Key Highlights
- Registered 3‑unit interior townhouse
- Unit mix includes two 2‑bedroom units and one 1‑bedroom unit
- Functional floor plans with natural light
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
$20,750
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
8.30%
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%
$415,000
$415.0K
Cap Rate 7%
$296,429
$296.4K
Cap Rate 9%
$230,556
$230.6K
Market Conditions
NOI Build-Up for 2,408 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
$39.3K $16.32/SF
− Vacancy
−$1.6K −$0.65/SF
EGI
$37.7K $15.67/SF
− OpEx
−$17.0K −$7.05/SF
NOI
$20.7K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /SF/Yr
Expense Ratio
45.00%
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%
$415,000
Cap Rate 7%
$296,429
Cap Rate 9%
$230,556
Alternative Uses
Best Use
Multifamily LT 5
$339.1K
$296.7K – $395.7K
NOI $23,739 @ 7.0% cap · market cap 9.50%
Second Best
Apartment 5plus
$296.4K
$259.4K – $345.8K
NOI $20,750 @ 7.0% cap · market cap 8.30%
Theoretical Best
Office A
$395.3K
$345.9K – $461.2K
NOI $27,671 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,115
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?
Triplex - Registered interior townhouse with a two-bedroom and one-bedroom unit mix.
Where is this triplex located?
The property is located at 163 W GREENWICH STREET Reading, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Registered 3‑unit interior townhouse; Unit mix includes two 2‑bedroom units and one 1‑bedroom unit; Functional floor plans with natural light
