Brick Duplex with
For Sale
$399,900
2-1014 W Turner Street, Allentown, PA 18102
Upper-level owner residence includes bathrooms on both floors and a partially covered deck.
Property Size2,556 SF
Price / SF$156.46
Days on Market9
Property Features for 2-1014 W Turner Street
General Information
Standard status
Active
Size
2,556 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,202
Amenities
front porch
partially covered deck
Building Details
Construction
brick
Listing Agency:
IronValley RE of Lehigh Valley
(484) 241-1011
Listed By:
Donna J. Gasper · License #RM424351
(484) 241-1011
Source:
Exprealty
Added: Aug 24
Changed: Aug 30
Last Checked: Aug 31 at 7:17PM
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 IronValley RE of Lehigh Valley
Investment Insights
Based on property information with market context.
This two-unit duplex presents a brick exterior, front porch, newer roof, and emergency exits serving the upper levels. The first-floor residence is occupied by a tenant and includes built-in shelving, while the owner’s residence spans the second and third floors with a bathroom on each level. A partially covered deck adds outdoor space to the second floor.
Parking is provided by a two-car garage and a carport, accommodating up to four vehicles. The property is situated in Allentown’s Historic Old Allentown District, offering an owner-occupant configuration with an existing tenant arrangement.
Parking is provided by a two-car garage and a carport, accommodating up to four vehicles. The property is situated in Allentown’s Historic Old Allentown District, offering an owner-occupant configuration with an existing tenant arrangement.
Key Highlights
- Two‑unit duplex in Allentown’s Historic Old Allentown District
- Two‑car garage and carport provide parking for up to four vehicles
- Tenant‑occupied first‑floor unit includes built‑in shelving
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
$26,811
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
6.70%
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%
$536,220
$536.2K
Cap Rate 7%
$383,014
$383.0K
Cap Rate 9%
$297,900
$297.9K
Market Conditions
NOI Build-Up for 2,556 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
$41.4K $16.20/SF
− Vacancy
−$3.1K −$1.22/SF
EGI
$38.3K $14.99/SF
− OpEx
−$11.5K −$4.50/SF
NOI
$26.8K $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%
$536,220
Cap Rate 7%
$383,014
Cap Rate 9%
$297,900
Alternative Uses
Best Use
Multifamily LT 5
$383.0K
$335.1K – $446.9K
NOI $26,811 @ 7.0% cap · market cap 6.70%
Second Best
Apartment 5plus
$336.9K
$294.8K – $393.1K
NOI $23,584 @ 7.0% cap · market cap 5.90%
Theoretical Best
Specialty Retail
$502.1K
$439.4K – $585.8K
NOI $35,150 @ 7.0% cap · market cap 8.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,597
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
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Frequently Asked Questions
What type of property is this?
Duplex - Upper-level owner residence includes bathrooms on both floors and a partially covered deck.
Where is this duplex located?
The property is located at 2-1014 W Turner Street Allentown, PA.
What is the asking price?
The asking price for this property is $399,900.
What are key features of this property?
This property features: Two‑unit duplex in Allentown’s Historic Old Allentown District; Two‑car garage and carport provide parking for up to four vehicles; Tenant‑occupied first‑floor unit includes built‑in shelving
