Two-Unit
For Sale
$279,900
353 N 2ND STREET, Reading, PA 19601
Separate apartments offer distinct bedroom layouts, with one unit larger than the other.
Property Size1,911 SF
Price / SF$146.47
Days on Market12
Property Features for 353 N 2ND STREET
General Information
Standard status
Active
Size
1,911 SF
Property subtype
Duplex
Units
Unit Mix
1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
United Real Estate Strive 212
(610) 372-0212
Listed By:
Flordeliz Rodriguez-Rosario · License #RS347476
(443) 967-3261
Source:
Cummingsrealtors
Added: Sep 25
Changed: Oct 4
Last Checked: Oct 5 at 7:30PM
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 United Real Estate Strive 212
Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two separate apartments: one with 2 bedrooms and 1 bathroom, and another with 3 bedrooms and 1 bathroom. The property has 5 bedrooms in total, along with two new water heaters. Heating is provided by a natural-gas furnace.
Key Highlights
- Two apartments with 2‑bedroom, 1‑bathroom and 3‑bedroom, 1‑bathroom layouts
- 5 bedrooms across the property
- Two new water heaters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,840
Cap Rate
6.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$376,800
$376.8K
Cap Rate 7%
$269,143
$269.1K
Cap Rate 9%
$209,333
$209.3K
Market Conditions
NOI Build-Up for 1,911 SF
Gross rent
$28.0K $14.64/SF
− Vacancy
−$1.1K −$0.56/SF
EGI
$26.9K $14.08/SF
− OpEx
−$8.1K −$4.23/SF
NOI
$18.8K $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 Rate 5%
$376,800
Cap Rate 7%
$269,143
Cap Rate 9%
$209,333
Alternative Uses
Best Use
Multifamily LT 5
$269.1K
$235.5K – $314.0K
NOI $18,840 @ 7.0% cap · market cap 6.73%
Second Best
Apartment 5plus
$235.2K
$205.8K – $274.5K
NOI $16,467 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$313.7K
$274.5K – $366.0K
NOI $21,960 @ 7.0% cap · market cap 7.85%
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
2,296
Businesses Nearby
Explore this area
Business Placement
Demographics for 19601, PA
35,477
Population
14,024
Households
2.5
Avg Household Size
34
Median Age
12%
College-Educated
73%
High-School Grad
3.8 sq mi
ZIP Area
9,336
Density / Sq Mi
$41,133
Median Household Income
$30,433
Median Earnings
$986
Median Rent
$110,700
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 - Separate apartments offer distinct bedroom layouts, with one unit larger than the other.
Where is this duplex located?
The property is located at 353 N 2ND STREET Reading, 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: Two apartments with 2‑bedroom, 1‑bathroom and 3‑bedroom, 1‑bathroom layouts; 5 bedrooms across the property; Two new water heaters
