Two-Unit Duplex with
For Sale
$322,500
Pending
1801 Greenleaf St, Allentown, PA 18109
Updated first-floor finishes accompany basement storage, off-street parking, and a detached garage.
Property Size2,232 SF
Days on Market22
Property Features for 1801 Greenleaf St
General Information
Standard status
Pending
Size
2,232 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1925
Listing Agency:
Weichert Realtors
(610) 905-9235
Listed By:
Charly Ribau
Source:
Jennysoldmine
Added: Aug 11
Changed: Aug 31
Last Checked: Aug 31 at 7:35PM
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
Investment Insights
Based on property information with market context.
Built in 1925, this 2,232-square-foot semi-detached duplex includes two residential units. The first-floor residence features updated finishes and full access to basement storage. The upper residence spans the second and third floors and includes two bedrooms plus a nursery that can serve as a third bedroom.
Ample off-street parking serves the occupants, while the detached garage adds functional storage and potential for additional income. The property is located in East Allentown near shopping, dining, and everyday amenities, making it suitable for an owner-occupant or investor.
Ample off-street parking serves the occupants, while the detached garage adds functional storage and potential for additional income. The property is located in East Allentown near shopping, dining, and everyday amenities, making it suitable for an owner-occupant or investor.
Key Highlights
- Two‑unit semi‑detached duplex in East Allentown
- 2,232‑square‑foot property built in 1925
- Upper unit includes two bedrooms plus a nursery that can serve as a third bedroom
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
$23,413
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
7.26%
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%
$468,260
$468.3K
Cap Rate 7%
$334,471
$334.5K
Cap Rate 9%
$260,144
$260.1K
Market Conditions
NOI Build-Up for 2,232 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
$36.2K $16.20/SF
− Vacancy
−$2.7K −$1.22/SF
EGI
$33.4K $14.99/SF
− OpEx
−$10.0K −$4.50/SF
NOI
$23.4K $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%
$468,260
Cap Rate 7%
$334,471
Cap Rate 9%
$260,144
Alternative Uses
Best Use
Multifamily LT 5
$334.5K
$292.7K – $390.2K
NOI $23,413 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$294.2K
$257.4K – $343.2K
NOI $20,594 @ 7.0% cap · market cap 6.39%
Theoretical Best
Specialty Retail
$438.5K
$383.7K – $511.6K
NOI $30,694 @ 7.0% cap · market cap 9.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
909
Businesses Nearby
Explore this area
Business Placement
Demographics for 18109, PA
18,915
Population
7,395
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
80%
High-School Grad
8.2 sq mi
ZIP Area
2,307
Density / Sq Mi
$55,437
Median Household Income
$36,632
Median Earnings
$1,239
Median Rent
$180,200
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 - Updated first-floor finishes accompany basement storage, off-street parking, and a detached garage.
Where is this duplex located?
The property is located at 1801 Greenleaf St Allentown, PA.
What is the asking price?
The asking price for this property is $322,500.
What are key features of this property?
This property features: Two‑unit semi‑detached duplex in East Allentown; 2,232‑square‑foot property built in 1925; Upper unit includes two bedrooms plus a nursery that can serve as a third bedroom
