Two-Unit Duplex with Unfinished
For Sale
$300,000
209 E South Street, Slatington, PA 18080
MULTI_FAMILY - Slatington Boro, PA
Property Size2,032 SF
Lot Size0.08 Acres
Price / SF$147.64
Days on Market99
Property Features for 209 E South Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
Tr-Town Residential
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1
Parking
1
Parking features
Off Street
Subdivision
No Subdivision
Elementary school district
Northern Lehigh
Middle school district
Northern Lehigh
High school district
Northern Lehigh
Directions
off 309 n, continue straight onto 873 n, continue straight to stay on 873 n, turn right onto e south st. 209 e south st will be on your right hand side.
Standard status
Active
APN
556212401435 001
Size
2,032 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Annual Amount
3705
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Baseboard
Cooling system
Window Unit(s)
Water source
Public
Amenities
balcony/outdoor space
Building Details
Year built
1890
Floors in Building
3
Number of units
2
Building materials
VinylSiding
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Shawn Dullavin Sr
(888) 397-7352
Added: May 1
Changed: Aug 3
Last Checked: Aug 7 at 2:06PM
MLS# 776139
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-unit duplex at 209 E South Street in Slatington offers income-producing flexibility with separate living spaces. The first-floor unit is laid out as a 1-bedroom, 1-bath home, while the second-floor unit includes 3 bedrooms and additional room for configuration. The property includes an unfinished attic and balcony/outdoor space, adding potential to expand usable living area.
Built in 1890 and finished with vinyl siding, the home totals 2,032 square feet on a 0.084-acre lot. Utilities include public water and public sewer. Heating is provided by natural gas with forced air, supplemented by baseboard heat, and cooling is via window unit(s). Off-street parking is available.
The property is zoned Tr-Town Residential and is designed for both investor and owner-occupant scenarios, with rental income already supported by the existing two-unit configuration.
Built in 1890 and finished with vinyl siding, the home totals 2,032 square feet on a 0.084-acre lot. Utilities include public water and public sewer. Heating is provided by natural gas with forced air, supplemented by baseboard heat, and cooling is via window unit(s). Off-street parking is available.
The property is zoned Tr-Town Residential and is designed for both investor and owner-occupant scenarios, with rental income already supported by the existing two-unit configuration.
Key Highlights
- Two separate units: first‑floor 1 bedroom, 1 bath; second‑floor includes 3 bedrooms
- Unfinished attic provides potential for additional rooms or expansion
- 2,032 square feet on a 0.084‑acre lot
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
$13,591
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
4.53%
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%
$271,820
$271.8K
Cap Rate 7%
$194,157
$194.2K
Cap Rate 9%
$151,011
$151.0K
Market Conditions
NOI Build-Up for 2,032 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
$21.0K $10.32/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$19.4K $9.56/SF
− OpEx
−$5.8K −$2.87/SF
NOI
$13.6K $6.69/SF
Area
Lehigh County, PA
Vacancy
7.41%
Lease Rate
$10.32 /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%
$271,820
Cap Rate 7%
$194,157
Cap Rate 9%
$151,011
Alternative Uses
Best Use
Multifamily LT 5
$194.2K
$169.9K – $226.5K
NOI $13,591 @ 7.0% cap · market cap 4.53%
Second Best
Apartment 5plus
$169.6K
$148.4K – $197.9K
NOI $11,871 @ 7.0% cap · market cap 3.96%
Theoretical Best
Mixed Use
$298.8K
$261.5K – $348.6K
NOI $20,917 @ 7.0% cap · market cap 6.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
Explore this area
Business Placement
Demographics for 18080, PA
11,454
Population
4,947
Households
2.3
Avg Household Size
45
Median Age
20%
College-Educated
91%
High-School Grad
30.2 sq mi
ZIP Area
379
Density / Sq Mi
$73,947
Median Household Income
$47,723
Median Earnings
$808
Median Rent
$254,200
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-unit duplex with public utilities, off-street parking, and natural gas forced-air heating.
Where is this duplex located?
The property is located at 209 E South Street Slatington, PA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Two separate units: first‑floor 1 bedroom, 1 bath; second‑floor includes 3 bedrooms; Unfinished attic provides potential for additional rooms or expansion; 2,032 square feet on a 0.084‑acre lot
