3-Unit
New
For Sale
$375,000
1642 MINERAL SPRING ROAD, Reading, PA 19602
Three separate residences create a multi-unit residential layout.
Property Size2,538 SF
Days on Market5
Property Features for 1642 MINERAL SPRING ROAD
General Information
Standard status
Active
Size
2,538 SF
Property subtype
Triplex
Additional Details
Multifamily Units
3
Building Details
Building Size
2,538 SF
Year Built
1905
Listing Agency:
Century 21 Gold
Listed By:
William Roman
(610) 779-2500
Source:
Tylermillerteam.kw
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:15PM
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 Century 21 Gold
Investment Insights
Based on property information with market context.
This triplex contains three separate residential units. Built in 1905, the property is located at 1642 Mineral Spring Road in Reading, Pennsylvania.
Key Highlights
- Three separate residential units
- Built in 1905
- 1642 Mineral Spring Road in Reading, PA 19602
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
$25,021
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
6.67%
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%
$500,420
$500.4K
Cap Rate 7%
$357,443
$357.4K
Cap Rate 9%
$278,011
$278.0K
Market Conditions
NOI Build-Up for 2,538 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
$37.2K $14.64/SF
− Vacancy
−$1.4K −$0.56/SF
EGI
$35.7K $14.08/SF
− OpEx
−$10.7K −$4.23/SF
NOI
$25.0K $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%
$500,420
Cap Rate 7%
$357,443
Cap Rate 9%
$278,011
Alternative Uses
Best Use
Multifamily LT 5
$357.4K
$312.8K – $417.0K
NOI $25,021 @ 7.0% cap · market cap 6.67%
Second Best
Apartment 5plus
$312.4K
$273.4K – $364.5K
NOI $21,870 @ 7.0% cap · market cap 5.83%
Theoretical Best
Office A
$416.6K
$364.6K – $486.1K
NOI $29,165 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
350
Businesses Nearby
Explore this area
Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Three separate residences create a multi-unit residential layout.
Where is this triplex located?
The property is located at 1642 MINERAL SPRING ROAD Reading, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three separate residential units; Built in 1905; 1642 Mineral Spring Road in Reading, PA 19602
