2-Unit Duplex with Basement
For Sale
$274,900
215 Washington St, Walnutport, PA 18088
Both apartments are leased, and residents cover the cost of electric baseboard heat.
Property Size2,233 SF
Price / SF$123.11
Days on Market15
Property Features for 215 Washington St
General Information
Standard status
Active
Size
2,233 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,120
Building Details
Tenancy
Multi
Listing Agency:
Advanced Realty Services
(610) 439-8002
Listed By:
Matthew J. Hartman
(610) 533-9748
Source:
Exprealty
Added: Sep 23
Changed: Sep 29
Last Checked: Oct 7 at 12:46PM
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 Advanced Realty Services
Investment Insights
Based on property information with market context.
This 2,233-square-foot duplex contains two apartments: a first-floor unit with two bedrooms and one bathroom, and a three-bedroom, one-bathroom unit spanning the second and third floors. Both are tenant occupied. Each apartment has electric baseboard heat, with tenants paying the heating expense. Separate water heaters serve the units, and a large basement offers storage space.
Property updates include siding installed in 2016, electric baseboards added in 2017, a newer roof, and updated electrical panels. The property also has a backyard for tenant use.
Property updates include siding installed in 2016, electric baseboards added in 2017, a newer roof, and updated electrical panels. The property also has a backyard for tenant use.
Key Highlights
- 2,233‑square‑foot duplex with two tenant‑occupied apartments
- First‑floor apartment has 2 bedrooms and 1 bathroom
- Second- and third‑floor apartment has 3 bedrooms and 1 bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,762
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,240
$295.2K
Cap Rate 7%
$210,886
$210.9K
Cap Rate 9%
$164,022
$164.0K
Market Conditions
NOI Build-Up for 2,233 SF
Gross rent
$22.8K $10.20/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$21.1K $9.44/SF
− OpEx
−$6.3K −$2.83/SF
NOI
$14.8K $6.61/SF
Area
Northampton County, PA
Vacancy
7.41%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$295,240
Cap Rate 7%
$210,886
Cap Rate 9%
$164,022
Alternative Uses
Best Use
Multifamily LT 5
$210.9K
$184.5K – $246.0K
NOI $14,762 @ 7.0% cap · market cap 5.37%
Second Best
Apartment 5plus
$194.1K
$169.9K – $226.5K
NOI $13,588 @ 7.0% cap · market cap 4.94%
Theoretical Best
Office A
$423.5K
$370.6K – $494.1K
NOI $29,647 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
Explore this area
Business Placement
Demographics for 18088, PA
8,603
Population
3,612
Households
2.4
Avg Household Size
48
Median Age
19%
College-Educated
94%
High-School Grad
19.1 sq mi
ZIP Area
450
Density / Sq Mi
$76,025
Median Household Income
$46,269
Median Earnings
$1,236
Median Rent
$241,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Both apartments are leased, and residents cover the cost of electric baseboard heat.
Where is this duplex located?
The property is located at 215 Washington St Walnutport, PA.
What is the asking price?
The asking price for this property is $274,900.
What are key features of this property?
This property features: 2,233‑square‑foot duplex with two tenant‑occupied apartments; First‑floor apartment has 2 bedrooms and 1 bathroom; Second- and third‑floor apartment has 3 bedrooms and 1 bathroom
