Two-Unit Duplex with Detached
For Sale
Contact for pricing
Pending
242-244 S 1st St, Bangor, PA 18013
Well-maintained duplex with separate entrances, two three-bedroom residences, shared outdoor areas, and public water and sewer.
Property Size2,486 SF
Days on Market12
Property Features for 242-244 S 1st St
General Information
Standard status
Pending
Size
2,486 SF
Total Parking Spaces
2
Property subtype
Multifamily
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Amenities
covered front porch
rear patio
shared yard
hardwood flooring
Building Details
Buildings
1
Listing Agency:
Century 21 Pinnacle Bethlehem
Listed By:
Christopher Stager · License #PA
(570) 242-9072
Source:
Crexi
Added: Sep 9
Changed: Sep 18
Last Checked: Sep 20 at 9:04AM
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 Century 21 Pinnacle Bethlehem
Investment Insights
Based on property information with market context.
Located at 242-244 S 1st Street in Bangor Borough, this duplex contains approximately 2,486 total square feet across two separate residences. Each unit has three bedrooms, one full bath, a private entrance, hardwood flooring, covered front porch access, rear patio access, and use of the shared yard.
Unit 242 includes a kitchen, living room, dining room, and finished third-floor bonus room. Unit 244 offers separate living and family rooms, a walk-in closet, plus a mudroom and laundry area adjoining the kitchen. Public water and sewer serve the property. A detached two-car garage with electric is not currently part of either tenant’s space, allowing for additional storage or rental use. Capital improvements were completed throughout 2024 and 2025.
Unit 242 includes a kitchen, living room, dining room, and finished third-floor bonus room. Unit 244 offers separate living and family rooms, a walk-in closet, plus a mudroom and laundry area adjoining the kitchen. Public water and sewer serve the property. A detached two-car garage with electric is not currently part of either tenant’s space, allowing for additional storage or rental use. Capital improvements were completed throughout 2024 and 2025.
Key Highlights
- Two three‑bedroom, one‑bath residences totaling approximately 2,486 square feet
- Detached two‑car garage with electric, separate from current tenant spaces
- Both units feature private entrances and hardwood flooring
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
$16,435
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
6.85%
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%
$328,700
$328.7K
Cap Rate 7%
$234,786
$234.8K
Cap Rate 9%
$182,611
$182.6K
Market Conditions
NOI Build-Up for 2,486 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
$25.4K $10.20/SF
− Vacancy
−$1.9K −$0.76/SF
EGI
$23.5K $9.44/SF
− OpEx
−$7.0K −$2.83/SF
NOI
$16.4K $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%
$328,700
Cap Rate 7%
$234,786
Cap Rate 9%
$182,611
Alternative Uses
Best Use
Multifamily LT 5
$234.8K
$205.4K – $273.9K
NOI $16,435 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$216.1K
$189.1K – $252.1K
NOI $15,128 @ 7.0% cap · market cap 6.30%
Theoretical Best
Office A
$471.5K
$412.6K – $550.1K
NOI $33,006 @ 7.0% cap · market cap 13.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
428
Businesses Nearby
Explore this area
Business Placement
Demographics for 18013, PA
17,436
Population
7,401
Households
2.4
Avg Household Size
44
Median Age
24%
College-Educated
89%
High-School Grad
63.0 sq mi
ZIP Area
277
Density / Sq Mi
$76,116
Median Household Income
$37,107
Median Earnings
$1,088
Median Rent
$245,700
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 - Well-maintained duplex with separate entrances, two three-bedroom residences, shared outdoor areas, and public water and sewer.
Where is this duplex located?
The property is located at 242-244 S 1st St Bangor, PA.
What is the asking price?
The asking price for this property is $240,000.
What are key features of this property?
This property features: Two three‑bedroom, one‑bath residences totaling approximately 2,486 square feet; Detached two‑car garage with electric, separate from current tenant spaces; Both units feature private entrances and hardwood flooring
