Renovated Two-Unit
New
For Sale
$499,900
2211 MILFORD SQUARE Pike, Quakertown, PA 18951
MULTI_FAMILY - Colonial - QUAKERTOWN, PA
Property Size2,558 SF
Lot Size0.29 Acres
Price / SF$195.43
Days on Market2
Property Features for 2211 MILFORD SQUARE Pike
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement
Parking features
Driveway
Interior features
Dining Area, Floor Plan - Open, Wood Floors
Elementary school district
QUAKERTOWN COMMUNITY
Middle school district
QUAKERTOWN COMMUNITY
High school district
QUAKERTOWN COMMUNITY
Standard status
Active
Size
2,558 SF
Lot size
0.29 Acres
Taxes and HOA fees
Tax Annual Amount
4220
Utilities
Heating system
Hot Water(Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1900
Number of units
2
Building materials
Frame
Architectural style
Colonial
Listing Agency:
Innovate Real Estate
(215) 723-4073
Listed By:
Daniel J. Smith · License #RS275421
(215) 723-4073
Added: Aug 15
Last Checked: Aug 16 at 2:06AM
MLS# PABU2128682
Copyright © 2026 Bright MLS. 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 Colonial duplex contains 2,558 square feet on a 0.2925-acre lot and provides two separate residential units. The first-floor apartment includes two bedrooms, one full bath, hardwood floors, a farmhouse-style kitchen, dining and living areas, ample closet storage, and a covered rear porch entrance. The upper unit has hardwood flooring, an updated kitchen, two full baths distributed across the second and third floors, and a laundry connection. A 2017 renovation included the roof, windows, and a comprehensive update to the upper residence. The property uses hot-water heat and window unit cooling, with frame construction dating to 1900.
One unit is occupied by a long-term tenant, while the other is vacant. A driveway provides dedicated parking, and the property is near the PA Turnpike, St. Luke's Hospital, Routes 663, 309, and 313. Tenants pay heat and electric; ownership covers trash, water, and sewer.
One unit is occupied by a long-term tenant, while the other is vacant. A driveway provides dedicated parking, and the property is near the PA Turnpike, St. Luke's Hospital, Routes 663, 309, and 313. Tenants pay heat and electric; ownership covers trash, water, and sewer.
Key Highlights
- Two‑unit duplex at 2211 MILFORD SQUARE Pike, QUAKERTOWN, PA 18951
- 2,558 square feet on a 0.2925‑acre lot
- 2017 improvements included a new roof, new windows, and an upper‑unit renovation
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
$31,672
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
6.34%
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%
$633,440
$633.4K
Cap Rate 7%
$452,457
$452.5K
Cap Rate 9%
$351,911
$351.9K
Market Conditions
NOI Build-Up for 2,558 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
$59.6K $23.28/SF
− Vacancy
−$2.0K −$0.77/SF
EGI
$57.6K $22.51/SF
− OpEx
−$25.9K −$10.13/SF
NOI
$31.7K $12.38/SF
Area
Bucks County, PA
Vacancy
3.30%
Lease Rate
$23.28 /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%
$633,440
Cap Rate 7%
$452,457
Cap Rate 9%
$351,911
Alternative Uses
Best Use
Apartment 5plus
$452.5K
$395.9K – $527.9K
NOI $31,672 @ 7.0% cap · market cap 6.34%
Second Best
Multifamily LT 5
$433.6K
$379.4K – $505.9K
NOI $30,351 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$775.6K
$678.6K – $904.8K
NOI $54,289 @ 7.0% cap · market cap 10.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
600
Businesses Nearby
Explore this area
Business Placement
Demographics for 18951, PA
36,111
Population
14,862
Households
2.4
Avg Household Size
43
Median Age
33%
College-Educated
94%
High-School Grad
71.7 sq mi
ZIP Area
504
Density / Sq Mi
$95,084
Median Household Income
$49,570
Median Earnings
$1,341
Median Rent
$339,000
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 - Colonial income property with one occupied unit, one vacant unit, updated interiors, and dedicated driveway parking.
Where is this duplex located?
The property is located at 2211 MILFORD SQUARE Pike Quakertown, PA.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: Two‑unit duplex at 2211 MILFORD SQUARE Pike, QUAKERTOWN, PA 18951; 2,558 square feet on a 0.2925‑acre lot; 2017 improvements included a new roof, new windows, and an upper‑unit renovation
