Updated Two-Unit
New
For Sale
$362,000
317 N 10TH Street, Allentown, PA 18102
Multi-Family, ALLENTOWN, PA
Property Size1,842 SF
Lot Size0.05 Acres
Price / SF$196.53
Days on Market2
Property Features for 317 N 10TH Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Rooms
Basement
Parking features
Off Street
Appliances
Dishwasher, Oven/Range - Electric, Refrigerator
Subdivision
ALLENTOWN CITY
Elementary school
ROOSEVELT
Middle school
FRANCIS D RAUB
High school
WILLIAM ALLEN
Elementary school district
ALLENTOWN
Middle school district
ALLENTOWN
High school district
ALLENTOWN
Standard status
Active
Size
1,842 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Annual Amount
2144
Utilities
Heating system
Forced Air
Cooling system
Window Unit(s)
Building Details
Year built
1875
Number of units
2
Building materials
Brick Front, Vinyl Siding
Listing Agency:
Keller Williams Real Estate - Bethlehem · Keller Williams Realty
(610) 867-8888
Listed By:
Edmund Langley Cooley Jr. · License #RS375853
(610) 217-3963
Added: Oct 1
Last Checked: Oct 2 at 3:06PM
MLS# PALH2017058
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 two-unit duplex contains 1,842 square feet across multiple levels and dates to 1875. Recent work includes subfloor repairs, fresh paint, and solid oak hardwood flooring in the first-floor apartment. Tile finishes are in the first-floor kitchen and bathroom. Both apartments have new toilets and sinks; the first-floor kitchen also has a stainless steel refrigerator and dishwasher, and the upstairs apartment includes a new stainless steel dishwasher. The building has a basement, forced-air heat, window-unit cooling, and off-street parking, with brick at the front and vinyl siding elsewhere.
The first-floor unit is vacant, and the second-floor unit is occupied by a tenant. The property is near downtown Allentown, with shopping, dining, entertainment, public transportation, and major routes accessible nearby.
The first-floor unit is vacant, and the second-floor unit is occupied by a tenant. The property is near downtown Allentown, with shopping, dining, entertainment, public transportation, and major routes accessible nearby.
Key Highlights
- Two apartments with 1,842 square feet of living space
- 0.053‑acre lot; built in 1875
- First‑floor unit features solid oak hardwood flooring and tile in the kitchen and bathroom
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
$19,322
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
5.34%
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%
$386,440
$386.4K
Cap Rate 7%
$276,029
$276.0K
Cap Rate 9%
$214,689
$214.7K
Market Conditions
NOI Build-Up for 1,842 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
$29.8K $16.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$27.6K $14.99/SF
− OpEx
−$8.3K −$4.50/SF
NOI
$19.3K $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%
$386,440
Cap Rate 7%
$276,029
Cap Rate 9%
$214,689
Alternative Uses
Best Use
Multifamily LT 5
$276.0K
$241.5K – $322.0K
NOI $19,322 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$242.8K
$212.5K – $283.3K
NOI $16,996 @ 7.0% cap · market cap 4.70%
Theoretical Best
Specialty Retail
$361.9K
$316.6K – $422.2K
NOI $25,331 @ 7.0% cap · market cap 7.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,092
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The first-floor apartment is vacant, while the upstairs unit remains tenant occupied.
Where is this duplex located?
The property is located at 317 N 10TH Street Allentown, PA.
What is the asking price?
The asking price for this property is $362,000.
What are key features of this property?
This property features: Two apartments with 1,842 square feet of living space; 0.053‑acre lot; built in 1875; First‑floor unit features solid oak hardwood flooring and tile in the kitchen and bathroom
