Two-Home Multifamily
For Sale
$530,000
28 1st St, Bangor, PA 18013
Two residences share one lot with a detached garage, auxiliary suite, and public utilities.
Property Size4,907 SF
Price / SF$108.01
Days on Market16
Property Features for 28 1st St
General Information
Standard status
Active
Size
4,907 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Building Details
Year Built
1890
Buildings
2
Construction
Victorian
Listing Agency:
Coldwell Banker Hearthside
(610) 936-9953
Listed By:
Michelle L. Rowe · License #RS296195
Source:
Jennysoldmine
Added: Aug 17
Changed: Aug 30
Last Checked: Aug 31 at 7:33PM
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 Coldwell Banker Hearthside
Investment Insights
Based on property information with market context.
This multifamily property combines two residences on one lot with a 2-car detached garage and an auxiliary suite. The 4,907-square-foot offering includes a 3,507-square-foot front home with 14 rooms, a wrap-around covered porch, screened-in area, formal living and dining rooms, office, modern kitchen, laundry room, and first-floor full bathroom. Five bedrooms, a full bath, and substantial closet space occupy the second floor. The third floor is configured as a separate suite with its own entrance, open living area, kitchen counter seating, bedroom, and full bath.
The second home measures 1,400 sq ft and contains 3 bedrooms, a kitchen, dining room, living room, full bath, and half bath. Both residences have natural gas and public utilities. Built in 1890, the property is located in downtown Bangor near restaurants, cafes, specialty shops, a brewery, and outdoor venues.
The second home measures 1,400 sq ft and contains 3 bedrooms, a kitchen, dining room, living room, full bath, and half bath. Both residences have natural gas and public utilities. Built in 1890, the property is located in downtown Bangor near restaurants, cafes, specialty shops, a brewery, and outdoor venues.
Key Highlights
- Two residences on one lot with a 2‑car detached garage
- 4,907‑square‑foot multifamily property built in 1890
- Front home measures 3,507 square feet and includes 5 bedrooms
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
$29,860
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
5.63%
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%
$597,200
$597.2K
Cap Rate 7%
$426,571
$426.6K
Cap Rate 9%
$331,778
$331.8K
Market Conditions
NOI Build-Up for 4,907 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
$58.9K $12.00/SF
− Vacancy
−$4.6K −$0.94/SF
EGI
$54.3K $11.06/SF
− OpEx
−$24.4K −$4.98/SF
NOI
$29.9K $6.09/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
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%
$597,200
Cap Rate 7%
$426,571
Cap Rate 9%
$331,778
Alternative Uses
Best Use
Apartment 5plus
$426.6K
$373.3K – $497.7K
NOI $29,860 @ 7.0% cap · market cap 5.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$930.7K
$814.4K – $1.09M
NOI $65,149 @ 7.0% cap · market cap 12.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
417
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?
Multifamily property - Two residences share one lot with a detached garage, auxiliary suite, and public utilities.
Where is this multifamily property located?
The property is located at 28 1st St Bangor, PA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two residences on one lot with a 2‑car detached garage; 4,907‑square‑foot multifamily property built in 1890; Front home measures 3,507 square feet and includes 5 bedrooms
