Listing Agency: BHHS Regency Real Estate b***@gmail.com Show Phone

Listed By: Brandon J. Carrigan Show Phone

Source: Exprealty

Added: Jul 16 Changed: Aug 11 Last Checked: Aug 11 at 6:17AM

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Investment Insights

Based on property information with market context.

This 2,362-square-foot duplex contains two residential units with matching layouts. Each residence includes a living room, kitchen, two bedrooms, and one bathroom, creating a straightforward configuration for separate occupancy or an owner-occupied arrangement.

The property is located at 229 Main St in Freemansburg Borough, with access to Southside Bethlehem, downtown Bethlehem, major commuter routes, the D&L Trail, and area parks. Its two-unit design provides separate living spaces within a single residential income property.

Key Highlights

• 2,362‑square‑foot duplex at 229 Main St, Freemansburg, PA
• Two residential units within one property
• Each unit includes two bedrooms and one bathroom

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

$15,615

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

5.56%

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%

$312,300 $312.3K

Cap Rate 7%

$223,071 $223.1K

Cap Rate 9%

$173,500 $173.5K

Market Conditions

NOI Build-Up for 2,362 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

$24.1K $10.20/SF

− Vacancy

−$1.8K −$0.76/SF

EGI

$22.3K $9.44/SF

− OpEx

−$6.7K −$2.83/SF

NOI

$15.6K $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 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%

$312,300

Cap Rate 7%

$223,071

Cap Rate 9%

$173,500

Alternative Uses

Best Use

Multifamily LT 5

$223.1K

$195.2K – $260.3K (±1% cap)

NOI $15,615 @ 7.0% cap · market cap 5.56%

Second Best

Apartment 5plus

$205.3K

$179.7K – $239.6K (±1% cap)

NOI $14,373 @ 7.0% cap · market cap 5.11%

Theoretical Best

Office A

$448.0K

$392.0K – $522.7K (±1% cap)

NOI $31,360 @ 7.0% cap · market cap 11.16%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Real Estate Agency Hair Salon Spa & Massage Center Law Firm Nail Salon Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

197

Businesses Nearby

Explore this area Business Placement

Demographics for 18017, PA

39,663

Population

16,773

Households

2.4

Avg Household Size

46

Median Age

40%

College-Educated

93%

High-School Grad

16.8 sq mi

ZIP Area

2,361

Density / Sq Mi

$88,946

Median Household Income

$45,618

Median Earnings

$1,535

Median Rent

$310,600

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences offer two bedrooms, one bathroom, a living room, and a kitchen.

Where is this duplex located?

The property is located at 229 Main St Freemansburg, PA.

What is the asking price?

The asking price for this property is $281,000.

What are key features of this property?

This property features: 2,362‑square‑foot duplex at 229 Main St, Freemansburg, PA; Two residential units within one property; Each unit includes two bedrooms and one bathroom