Brick Duplex with
New
For Sale
$265,000
212 S 3RD STREET, Reading, PA 19602
Two-unit brick residence with a full basement, on-street parking, and convenient access to public transportation.
Property Size2,492 SF
Lot Size0.06 Acres
Price / SF$106.34
Days on Market4
Property Features for 212 S 3RD STREET
General Information
Standard status
Active
Size
2,492 SF
Lot size
0.06 Acres
Property subtype
Duplex
Units
Unit Mix
1 x 3BR, 1 x 2BR
Multifamily Units
2
Additional Details
Public Transit
Yes
Building Details
Year Built
1900
Construction
brick
Listing Agency:
BHHS Homesale Realty- Reading Berks
(610) 372-3200
Listed By:
Jonathan David Rodriguez · License #RS376334
(223) 379-0206
Source:
Cummingsrealtors
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 5:04PM
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 BHHS Homesale Realty- Reading Berks
Investment Insights
Based on property information with market context.
This traditional brick duplex was built in 1900 and contains 2,492 square feet across two residential units. The first-floor apartment has three bedrooms, while the second unit provides two bedrooms. The property is described as being in average condition and offers a full basement for storage or other use. On-street parking serves residents and guests.
Set on a 0.06-acre lot at 212 S 3RD STREET in Reading, the property is less than one mile from a bus stop. The compact site and two-unit layout provide a straightforward multifamily configuration with established residential improvements.
Set on a 0.06-acre lot at 212 S 3RD STREET in Reading, the property is less than one mile from a bus stop. The compact site and two-unit layout provide a straightforward multifamily configuration with established residential improvements.
Key Highlights
- Two‑unit duplex with 2,492 square feet
- Unit mix includes one three‑bedroom unit and one two‑bedroom unit
- Traditional brick construction dating to 1900
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
$21,473
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
8.10%
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%
$429,460
$429.5K
Cap Rate 7%
$306,757
$306.8K
Cap Rate 9%
$238,589
$238.6K
Market Conditions
NOI Build-Up for 2,492 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
$40.7K $16.32/SF
− Vacancy
−$1.6K −$0.65/SF
EGI
$39.0K $15.67/SF
− OpEx
−$17.6K −$7.05/SF
NOI
$21.5K $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%
$429,460
Cap Rate 7%
$306,757
Cap Rate 9%
$238,589
Alternative Uses
Best Use
Multifamily LT 5
$351.0K
$307.1K – $409.5K
NOI $24,568 @ 7.0% cap · market cap 9.27%
Second Best
Apartment 5plus
$306.8K
$268.4K – $357.9K
NOI $21,473 @ 7.0% cap · market cap 8.10%
Theoretical Best
Office A
$409.1K
$358.0K – $477.3K
NOI $28,636 @ 7.0% cap · market cap 10.81%
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
2,035
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
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 - Two-unit brick residence with a full basement, on-street parking, and convenient access to public transportation.
Where is this duplex located?
The property is located at 212 S 3RD STREET Reading, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Two‑unit duplex with 2,492 square feet; Unit mix includes one three‑bedroom unit and one two‑bedroom unit; Traditional brick construction dating to 1900
