Two-Unit Property with
New
For Sale
$240,000
244 South 1st Street, Bangor, PA 18013
Well-maintained duplex with separate entrances, private living areas, outdoor space, and a detached garage.
Property Size2,486 SF
Days on Market6
Property Features for 244 South 1st Street
General Information
Standard status
Active
Size
2,486 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$5,923
Building Details
Building Size
2,486 SF
Year Built
1920
Listing Agency:
CENTURY 21 Pinnacle
Listed By:
Christopher Stager
(570) 242-9072
Source:
Bhhspaulfordrealtors
Added: Sep 7
Changed: Sep 9
Last Checked: Sep 11 at 1:57PM
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
Investment Insights
Based on property information with market context.
This duplex contains two separate residences totaling approximately 2,486 square feet. Each unit offers three bedrooms and one full bath, along with its own entrance, hardwood flooring, and access to the covered front porch, rear patio, and shared yard. One residence includes a dining room and finished third-floor bonus room, while the other provides separate living and family rooms, a walk-in closet, and a mudroom with laundry area off 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 sewer, and ownership completed capital improvements during 2024 and 2025. Built in 1920, the property offers a two-unit residential configuration with additional garage and outdoor space.
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 sewer, and ownership completed capital improvements during 2024 and 2025. Built in 1920, the property offers a two-unit residential configuration with additional garage and outdoor space.
Key Highlights
- Two 3‑bedroom, 1‑bath residential units
- Approximately 2,486 total square feet
- Detached 2‑car garage with electric service
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
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Open Analytics
Current Use
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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with separate entrances, private living areas, outdoor space, and a detached garage.
Where is this duplex located?
The property is located at 244 South 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 3‑bedroom, 1‑bath residential units; Approximately 2,486 total square feet; Detached 2‑car garage with electric service
