2-Unit Duplex Under
215 South Madison Street, Allentown, PA 18102
For Sale
New
$249,900
One residence has a bedroom, while the other provides three bedrooms; kitchens, baths, flooring, and paint remain to be completed.
Property Size2,034 SF
Days on Market6
Property Features for 215 South Madison Street
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Setton Realty
Listed By:
Belinda S. Asmar
(484) 225-3697
Source:
Bhhspaulfordrealtors
Added: Nov 7
Changed: Nov 10
Last Checked: Nov 10 at 2:45PM
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 Setton Realty
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Investment Insights
Based on property information with market context.
Built in 1914, this duplex contains two separate residences: a one-bedroom unit and a three-bedroom unit. Recent reconstruction work includes new windows and doors, along with updated electrical and plumbing systems. Drywall and subflooring have also been replaced. The remaining interior work includes fitting kitchens and bathrooms, installing flooring, and painting.
Key Highlights
- Two units: one with 1 bedroom and one with 3 bedrooms
- Reconstruction includes new drywall, subflooring, plumbing, electrical, windows, and doors
- Kitchens, bathrooms, flooring, and paint remain unfinished
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,336
Cap Rate
8.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$426,720
$426.7K
Cap Rate 7%
$304,800
$304.8K
Cap Rate 9%
$237,067
$237.1K
Market Conditions
NOI Build-Up for 2,034 SF
Gross rent
$33.0K $16.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$30.5K $14.99/SF
− OpEx
−$9.1K −$4.50/SF
NOI
$21.3K $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 Rate 5%
$426,720
Cap Rate 7%
$304,800
Cap Rate 9%
$237,067
Alternative Uses
Best Use
Multifamily LT 5
$304.8K
$266.7K – $355.6K
NOI $21,336 @ 7.0% cap · market cap 8.54%
Second Best
Apartment 5plus
$268.1K
$234.6K – $312.8K
NOI $18,767 @ 7.0% cap · market cap 7.51%
Theoretical Best
Specialty Retail
$399.6K
$349.7K – $466.2K
NOI $27,972 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,525
Businesses Nearby
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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
$146,600
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Allentown, PA
Properties on Market for Duplexes in Allentown
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One residence has a bedroom, while the other provides three bedrooms; kitchens, baths, flooring, and paint remain to be completed.
Where is this duplex located?
The property is located at 215 South Madison Street Allentown, PA.
What is the asking price?
The asking price for this property is $249,900.
What are key features of this property?
This property features: Two units: one with 1 bedroom and one with 3 bedrooms; Reconstruction includes new drywall, subflooring, plumbing, electrical, windows, and doors; Kitchens, bathrooms, flooring, and paint remain unfinished
