3-Unit Triplex with
For Sale
$279,900
30 N 2nd Street, Allentown, PA 18101
ResidentialIncome, Allentown City, PA
Property Size1,743 SF
Lot Size0.07 Acres
Price / SF$160.59
Days on Market296
Property Features for 30 N 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
R-Mh
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bedroom 2, Bedroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Parking
2
Parking features
Garage
Patio and Porch features
Patio
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From Hamilton St Turn on 2nd St the property it is on the left side (very close to American Parkway Shopping Center
Standard status
Active
APN
640741099609 001
Size
1,743 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
3080
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating), Electric (Heating), Natural Gas, Baseboard
Water source
Public
Building Details
Year built
1900
Floors in Building
2
Number of units
2
Building materials
Stucco
Listing Agency:
Century 21 Ramos Realty · Century 21 Real Estate
(484) 664-2340
Listed By:
Marlene I. Davila
(610) 866-4423
Added: Oct 29, 2025
Changed: Aug 19
Last Checked: Aug 20 at 11:06PM
MLS# 766714
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.
This 3-unit triplex includes two units in the main house and one unit above the garage. The exterior is stucco, and the property features a patio and garage parking. Heating is provided by a mix of heat pump, natural gas, electric, and baseboard systems. Public water and public sewer services are available, and the building was built in 1900.
The first floor was previously used as a daycare for up to 8 children, and the property originally operated as a plumbing company before maintaining commercial use. The current zoning is R-Mh, and the property offers the ability to apply for a zoning change back to residential.
The property contains multiple bedrooms and bathrooms across the three units, and it’s configured as a small residential income building while still reflecting its past commercial usage.
The first floor was previously used as a daycare for up to 8 children, and the property originally operated as a plumbing company before maintaining commercial use. The current zoning is R-Mh, and the property offers the ability to apply for a zoning change back to residential.
The property contains multiple bedrooms and bathrooms across the three units, and it’s configured as a small residential income building while still reflecting its past commercial usage.
Key Highlights
- 3 units: two in the house and one above the garage
- Stucco exterior with patio and garage parking
- R‑Mh zoning with ability to apply for a zoning change to residential
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
$18,283
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
6.53%
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%
$365,660
$365.7K
Cap Rate 7%
$261,186
$261.2K
Cap Rate 9%
$203,144
$203.1K
Market Conditions
NOI Build-Up for 1,743 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
$28.2K $16.20/SF
− Vacancy
−$2.1K −$1.22/SF
EGI
$26.1K $14.99/SF
− OpEx
−$7.8K −$4.50/SF
NOI
$18.3K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /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%
$365,660
Cap Rate 7%
$261,186
Cap Rate 9%
$203,144
Alternative Uses
Best Use
Multifamily LT 5
$261.2K
$228.5K – $304.7K
NOI $18,283 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$229.7K
$201.0K – $268.0K
NOI $16,082 @ 7.0% cap · market cap 5.75%
Theoretical Best
Specialty Retail
$342.4K
$299.6K – $399.5K
NOI $23,970 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,323
Businesses Nearby
Explore this area
Business Placement
Demographics for 18101, PA
5,108
Population
2,686
Households
1.9
Avg Household Size
32
Median Age
19%
College-Educated
79%
High-School Grad
0.3 sq mi
ZIP Area
17,027
Density / Sq Mi
$41,542
Median Household Income
$34,397
Median Earnings
$1,337
Median Rent
$153,800
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?
Triplex - 3-unit triplex with garage parking, stucco exterior, and a patio in R-Mh zoning near Allentown’s core.
Where is this triplex located?
The property is located at 30 N 2nd Street Allentown, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: 3 units: two in the house and one above the garage; Stucco exterior with patio and garage parking; R‑Mh zoning with ability to apply for a zoning change to residential
