Two-Unit
For Sale
$299,900
226 N 16th St, Allentown, PA 18102
One apartment is leased, while the recently cleaned upper residence offers three bedrooms and more than 1,100 square feet.
Property Size1,758 SF
Price / SF$170.59
Days on Market188
Property Features for 226 N 16th St
General Information
Standard status
Active
Size
1,758 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$2,798
Listing Agency:
Harvey Z Raad Real Estate
(610) 390-2803
Listed By:
Christopher G. Raad
(610) 390-2803
Source:
Exprealty
Added: Feb 25
Changed: Aug 30
Last Checked: Aug 31 at 6:08PM
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 Harvey Z Raad Real Estate
Investment Insights
Based on property information with market context.
This two-unit townhouse contains distinct residences with different bedroom configurations. The first-floor apartment includes one bedroom and access to the basement, and it is currently leased to long-term tenants. The upper apartment provides three bedrooms, measures more than 1,100 square feet, and has been recently vacated and cleaned.
The property includes off-street parking in the rear yard and is positioned near West Park. Downtown Allentown, shopping, parks, Route 22, the Pennsylvania Turnpike, and other major highways are all identified as nearby. The property is located at 226 N 16th St in Allentown, Pennsylvania.
The property includes off-street parking in the rear yard and is positioned near West Park. Downtown Allentown, shopping, parks, Route 22, the Pennsylvania Turnpike, and other major highways are all identified as nearby. The property is located at 226 N 16th St in Allentown, Pennsylvania.
Key Highlights
- Two‑unit townhouse at 226 N 16th St, Allentown, PA
- First‑floor 1‑bedroom apartment with basement access
- Upper apartment has 3 bedrooms and more than 1,100sf
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
$18,441
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
6.15%
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%
$368,820
$368.8K
Cap Rate 7%
$263,443
$263.4K
Cap Rate 9%
$204,900
$204.9K
Market Conditions
NOI Build-Up for 1,758 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
$28.5K $16.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$26.3K $14.99/SF
− OpEx
−$7.9K −$4.50/SF
NOI
$18.4K $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 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%
$368,820
Cap Rate 7%
$263,443
Cap Rate 9%
$204,900
Alternative Uses
Best Use
Multifamily LT 5
$263.4K
$230.5K – $307.4K
NOI $18,441 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$231.7K
$202.8K – $270.4K
NOI $16,221 @ 7.0% cap · market cap 5.41%
Theoretical Best
Specialty Retail
$345.4K
$302.2K – $402.9K
NOI $24,176 @ 7.0% cap · market cap 8.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,895
Businesses Nearby
Explore this area
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
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 - One apartment is leased, while the recently cleaned upper residence offers three bedrooms and more than 1,100 square feet.
Where is this duplex located?
The property is located at 226 N 16th St Allentown, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit townhouse at 226 N 16th St, Allentown, PA; First‑floor 1‑bedroom apartment with basement access; Upper apartment has 3 bedrooms and more than 1,100sf
