Brick Duplex with
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 Market48
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: Sep 1
Changed: Oct 16
Last Checked: Oct 16 at 8:02AM
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
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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 / Yr
$21,473
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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
