Six-Unit Apartment Building with
For Sale
$769,900
361 Main St, Slatington, PA 18080
Select apartments feature renovated kitchens and bathrooms, while four units include private porches.
Property Size4,704 SF
Price / SF$163.67
Days on Market42
Property Features for 361 Main St
General Information
Standard status
Active
Size
4,704 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Net Operating Income
$56,993
Additional Details
Gross Income
$78,300
Multifamily Units
6
Amenities
private porches
park-like property
Building Details
Year Built
1920
Buildings
2
Listing Agency:
Bellman & Radcliff
(610) 432-4000
Listed By:
Gary Elbert
Source:
Jennysoldmine
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 30 at 7:02PM
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 Bellman & Radcliff
Investment Insights
Based on property information with market context.
This detached two-story apartment property contains six units on almost 1/2 acre. Four apartments have private porches, and select residences have updated kitchens and bathrooms. Each apartment is served by its own circuit breaker panel, with electric service used for heating, hot water, and other utilities. Tenants pay their individual electric costs.
A separate two-story garage provides space for two vehicles. The property was built in 1920 and includes an expansive attic area with an existing fire escape; conversion to an additional unit would require zoning review.
A separate two-story garage provides space for two vehicles. The property was built in 1920 and includes an expansive attic area with an existing fire escape; conversion to an additional unit would require zoning review.
Key Highlights
- Six detached apartment units on almost 1/2 acre
- Four units include private porches
- Some apartments feature renovated kitchens and bathrooms
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
$27,480
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
3.57%
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%
$549,600
$549.6K
Cap Rate 7%
$392,571
$392.6K
Cap Rate 9%
$305,333
$305.3K
Market Conditions
NOI Build-Up for 4,704 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
$54.2K $11.52/SF
− Vacancy
−$4.2K −$0.90/SF
EGI
$50.0K $10.62/SF
− OpEx
−$22.5K −$4.78/SF
NOI
$27.5K $5.84/SF
Area
Lehigh County, PA
Vacancy
7.80%
Lease Rate
$11.52 /SF/Yr
Expense Ratio
45.00%
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%
$549,600
Cap Rate 7%
$392,571
Cap Rate 9%
$305,333
Alternative Uses
Best Use
Apartment 5plus
$392.6K
$343.5K – $458.0K
NOI $27,480 @ 7.0% cap · market cap 3.57%
Second Best
—
—
no second resolved use
Theoretical Best
Mixed Use
$691.7K
$605.3K – $807.0K
NOI $48,422 @ 7.0% cap · market cap 6.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
316
Businesses Nearby
Explore this area
Business Placement
Demographics for 18080, PA
11,454
Population
4,947
Households
2.3
Avg Household Size
45
Median Age
20%
College-Educated
91%
High-School Grad
30.2 sq mi
ZIP Area
379
Density / Sq Mi
$73,947
Median Household Income
$47,723
Median Earnings
$808
Median Rent
$254,200
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?
Apartment building - Select apartments feature renovated kitchens and bathrooms, while four units include private porches.
Where is this apartment building located?
The property is located at 361 Main St Slatington, PA.
What is the asking price?
The asking price for this property is $769,900.
What are key features of this property?
This property features: Six detached apartment units on almost 1/2 acre; Four units include private porches; Some apartments feature renovated kitchens and bathrooms
