Two-Unit Property with Detached
New
For Sale
$240,000
244 S 1st Street, Bangor, PA 18013
ResidentialIncome, Bangor Boro, PA
Property Size2,486 SF
Lot Size0.13 Acres
Price / SF$96.54
Days on Market2
Property Features for 244 S 1st Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R-7.8-Medium Density Resi
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 6, Bedroom 2, Bedroom 5
Parking
2
Parking features
Garage
Patio and Porch features
Patio
Interior features
WiredForData
Subdivision
Not in Development
Elementary school district
Bangor
Middle school district
Bangor
High school district
Bangor
Directions
Route 512 into Bangor, turn onto South 1st Street, and continue to 242-244 S 1st Street, located at the corner of South 1st Street and Walnut Street.
Standard status
Active
APN
E9NE2D-19-9-0102
Size
2,486 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
5923
Utilities
Sewer type
Public Sewer
Heating system
Oil, Electric (Heating)
Cooling system
Attic Fan, Window Unit(s), Wall Unit(s)
Water source
Public
Amenities
covered front porch
rear patio
shared yard
Building Details
Year built
1920
Floors in Building
3
Number of units
2
Flooring type
Hardwood
Building materials
AluminumSiding, VinylSiding
Listing Agency:
CENTURY 21 Pinnacle · Century 21 Real Estate
(610) 691-0535
Listed By:
Christopher Stager
(570) 242-9072
Added: Sep 7
Last Checked: Sep 8 at 5:06PM
MLS# 784110
Copyright © 2026 Greater Lehigh Valley REALTORS. 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.
Located at 244 S 1st Street in Bangor Boro, this duplex includes approximately 2,486 square feet across two separate residences. Both units offer three bedrooms and one full bath, with private entrances, 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 has separate living and family rooms, a walk-in closet, and a mudroom with laundry area adjoining the kitchen.
A detached two-car garage with electric service is part of the property and is not currently included in either tenant's use. The building has public water and public sewer, R-7.8-Medium Density Resi zoning, and was constructed in 1920. Capital improvements were completed throughout 2024 and 2025. The property also includes oil and electric heating, window and wall unit cooling, and a 0.129-acre lot.
A detached two-car garage with electric service is part of the property and is not currently included in either tenant's use. The building has public water and public sewer, R-7.8-Medium Density Resi zoning, and was constructed in 1920. Capital improvements were completed throughout 2024 and 2025. The property also includes oil and electric heating, window and wall unit cooling, and a 0.129-acre lot.
Key Highlights
- Two three‑bedroom, one‑bath residences totaling approximately 2,486 square feet
- Detached two‑car garage with electric service, currently excluded from tenant use
- Capital improvements completed throughout 2024 and 2025
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
Property Profile
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences with private entrances, shared outdoor areas, and public water and sewer service.
Where is this duplex located?
The property is located at 244 S 1st Street 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 service, currently excluded from tenant use; Capital improvements completed throughout 2024 and 2025
