3-Unit
New
For Sale
$389,900
315 2ND Street, Catasauqua, PA 18032
Multi-Family, CATASAUQUA, PA
Property Size3,058 SF
Lot Size0.10 Acres
Price / SF$127.50
Days on Market1
Property Features for 315 2ND Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Rooms
Basement
Parking
2
Parking features
Off Street
Subdivision
CATASAUQUA
Elementary school district
CATASAUQUA AREA
Middle school district
CATASAUQUA AREA
High school district
CATASAUQUA AREA
Standard status
Active
Size
3,058 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Annual Amount
7143
Utilities
Heating system
Electric (Heating), Radiant, Baseboard
Building Details
Year built
1880
Number of units
3
Building materials
Vinyl Siding, Frame
Architectural style
Other
Listing Agency:
Iron Valley Real Estate of Berks
(484) 450-8771
Listed By:
Christopher J Posch · License #RS381247
(484) 635-0798
Added: Sep 28
Last Checked: Sep 28 at 1:06PM
MLS# PALH2016968
Copyright © 2026 Bright MLS. 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 3,058-square-foot triplex contains three apartments: one with a bedroom, one with two bedrooms, and one with three. The 0.097-acre property was built in 1880 and has vinyl siding, a newer roof, and updated water heaters. Heating is electric, with radiant and baseboard systems. Off-street parking is available, and the property includes a basement.
The apartments are occupied under month-to-month leases, and residents pay their own utilities. The third-floor attic may offer room to expand the existing three-bedroom apartment. The property is in the Catasauqua Area School District.
The apartments are occupied under month-to-month leases, and residents pay their own utilities. The third-floor attic may offer room to expand the existing three-bedroom apartment. The property is in the Catasauqua Area School District.
Key Highlights
- Three apartments: one 1‑bedroom, one 2‑bedroom, and one 3‑bedroom
- 3,058 square feet on 0.097 acres
- Built in 1880
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
$20,454
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
5.25%
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%
$409,080
$409.1K
Cap Rate 7%
$292,200
$292.2K
Cap Rate 9%
$227,267
$227.3K
Market Conditions
NOI Build-Up for 3,058 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
$31.6K $10.32/SF
− Vacancy
−$2.3K −$0.76/SF
EGI
$29.2K $9.56/SF
− OpEx
−$8.8K −$2.87/SF
NOI
$20.5K $6.69/SF
Area
Lehigh County, PA
Vacancy
7.41%
Lease Rate
$10.32 /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%
$409,080
Cap Rate 7%
$292,200
Cap Rate 9%
$227,267
Alternative Uses
Best Use
Multifamily LT 5
$292.2K
$255.7K – $340.9K
NOI $20,454 @ 7.0% cap · market cap 5.25%
Second Best
Apartment 5plus
$255.2K
$223.3K – $297.7K
NOI $17,864 @ 7.0% cap · market cap 4.58%
Theoretical Best
Mixed Use
$449.7K
$393.5K – $524.6K
NOI $31,478 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 18032, PA
9,489
Population
4,142
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
4,745
Density / Sq Mi
$79,700
Median Household Income
$47,066
Median Earnings
$1,078
Median Rent
$213,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Triplex - Apartments offer a one-, two-, and three-bedroom mix, with utilities paid by residents.
Where is this triplex located?
The property is located at 315 2ND Street Catasauqua, PA.
What is the asking price?
The asking price for this property is $389,900.
What are key features of this property?
This property features: Three apartments: one 1‑bedroom, one 2‑bedroom, and one 3‑bedroom; 3,058 square feet on 0.097 acres; Built in 1880
