Two-Unit
For Sale
$329,900
Pending
329 LOMBARD STREET, Reading, PA 19604
Two residential units offer distinct bedroom and bathroom configurations for occupants.
Property Size2,108 SF
Days on Market82
Property Features for 329 LOMBARD STREET
General Information
Standard status
Pending
Size
2,108 SF
Property subtype
Duplex
Building Details
Building Size
2,108 SF
Year Built
1875
Listing Agency:
Realty One Group Alliance
(610) 484-8663
Listed By:
Nehemiah J Lindo
(610) 484-8663
Source:
Tylermillerteam.kw
Added: Jun 12
Changed: Aug 31
Last Checked: Sep 1 at 2:45PM
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 Realty One Group Alliance
Investment Insights
Based on property information with market context.
This duplex contains two residential units with distinct layouts. The first unit has 2 bedrooms and 1 bathroom, while the second includes 3 bedrooms and 1 bathroom. The property was built in 1875 and is located at 329 Lombard Street in Reading, Pennsylvania.
The surrounding area includes schools, shopping, restaurants, public transportation, and major roadways. The two-unit configuration provides separate residential spaces within one property, with a mix of bedroom counts suited to different household needs.
The surrounding area includes schools, shopping, restaurants, public transportation, and major roadways. The two-unit configuration provides separate residential spaces within one property, with a mix of bedroom counts suited to different household needs.
Key Highlights
- Two‑unit duplex at 329 Lombard Street, Reading, PA 19604
- Unit 1 includes 2 bedrooms and 1 bathroom
- Unit 2 includes 3 bedrooms and 1 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
$20,782
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
6.30%
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%
$415,640
$415.6K
Cap Rate 7%
$296,886
$296.9K
Cap Rate 9%
$230,911
$230.9K
Market Conditions
NOI Build-Up for 2,108 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
$30.9K $14.64/SF
− Vacancy
−$1.2K −$0.56/SF
EGI
$29.7K $14.08/SF
− OpEx
−$8.9K −$4.23/SF
NOI
$20.8K $9.86/SF
Area
Berks County, PA
Vacancy
3.80%
Lease Rate
$14.64 /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%
$415,640
Cap Rate 7%
$296,886
Cap Rate 9%
$230,911
Alternative Uses
Best Use
Multifamily LT 5
$296.9K
$259.8K – $346.4K
NOI $20,782 @ 7.0% cap · market cap 6.30%
Second Best
Apartment 5plus
$259.5K
$227.1K – $302.8K
NOI $18,165 @ 7.0% cap · market cap 5.51%
Theoretical Best
Office A
$346.0K
$302.8K – $403.7K
NOI $24,223 @ 7.0% cap · market cap 7.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,218
Businesses Nearby
Explore this area
Business Placement
Demographics for 19604, PA
29,347
Population
10,089
Households
2.9
Avg Household Size
29
Median Age
10%
College-Educated
70%
High-School Grad
2.5 sq mi
ZIP Area
11,739
Density / Sq Mi
$52,863
Median Household Income
$30,975
Median Earnings
$1,100
Median Rent
$110,800
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?
Duplex - Two residential units offer distinct bedroom and bathroom configurations for occupants.
Where is this duplex located?
The property is located at 329 LOMBARD STREET Reading, PA.
What is the asking price?
The asking price for this property is $329,900.
What are key features of this property?
This property features: Two‑unit duplex at 329 Lombard Street, Reading, PA 19604; Unit 1 includes 2 bedrooms and 1 bathroom; Unit 2 includes 3 bedrooms and 1 bathroom
