2-Unit
New
For Sale
$298,000
Pending
3425 MARION STREET, Reading, PA 19605
The property offers two-unit residential use and an on-site parking area.
Property Size1,650 SF
Days on Market7
Property Features for 3425 MARION STREET
General Information
Standard status
Pending
Size
1,650 SF
Property subtype
Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
2
Building Details
Year Built
1991
Listing Agency:
Century 21 Gold
Listed By:
Paul W Ernst · License #RM052092A
(610) 779-2500
Source:
Cummingsrealtors
Added: Sep 30
Changed: Oct 6
Last Checked: Oct 5 at 7:37PM
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 Century 21 Gold
Investment Insights
Based on property information with market context.
This 1,650-square-foot duplex was built in 1991 and is described for use as either a two-unit residence or a single-family home. The property includes an on-site parking area.
Situated on Marion Street in Reading, the home is in a residential area near shopping, restaurants, major highways, and public transportation.
Situated on Marion Street in Reading, the home is in a residential area near shopping, restaurants, major highways, and public transportation.
Key Highlights
- 1,650‑square‑foot duplex built in 1991
- Can be used as a two‑unit residence or single‑family home
- On‑site parking area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,267
Cap Rate
5.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$325,340
$325.3K
Cap Rate 7%
$232,386
$232.4K
Cap Rate 9%
$180,744
$180.7K
Market Conditions
NOI Build-Up for 1,650 SF
Gross rent
$24.2K $14.64/SF
− Vacancy
−$918 −$0.56/SF
EGI
$23.2K $14.08/SF
− OpEx
−$7.0K −$4.23/SF
NOI
$16.3K $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 Rate 5%
$325,340
Cap Rate 7%
$232,386
Cap Rate 9%
$180,744
Alternative Uses
Best Use
Multifamily LT 5
$232.4K
$203.3K – $271.1K
NOI $16,267 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$203.1K
$177.7K – $237.0K
NOI $14,218 @ 7.0% cap · market cap 4.77%
Theoretical Best
Office A
$270.9K
$237.0K – $316.0K
NOI $18,960 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 19605, PA
21,356
Population
8,100
Households
2.6
Avg Household Size
43
Median Age
27%
College-Educated
90%
High-School Grad
17.6 sq mi
ZIP Area
1,213
Density / Sq Mi
$85,775
Median Household Income
$45,578
Median Earnings
$1,310
Median Rent
$218,500
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?
Duplex - The property offers two-unit residential use and an on-site parking area.
Where is this duplex located?
The property is located at 3425 MARION STREET Reading, PA.
What is the asking price?
The asking price for this property is $298,000.
What are key features of this property?
This property features: 1,650‑square‑foot duplex built in 1991; Can be used as a two‑unit residence or single‑family home; On‑site parking area
