Two-Unit Duplex with Canal
For Sale
$215,000
39 CANAL STREET, Lehighton, PA 18235
Two apartments offer matching two-bedroom, one-bath layouts, with one unit recently updated and the other occupied.
Property Size2,001 SF
Lot Size4.50 Acres
Price / SF$107.45
Days on Market11
Property Features for 39 CANAL STREET
General Information
Standard status
Active
Size
2,001 SF
Net Rentable
68,400 SF
Class
Class B
Total Parking Spaces
126
Elevators
No
Lot size
4.50 Acres
Property subtype
Duplex
Zoning
R-4
Occupancy
94%
Net Operating Income
$620,000
Financials
Asking Price
$10,780,000
Cap Rate
5.75%
Gross Income
$1,120,000
Gross Rent Multiplier
10.2
Average Monthly Rent
$1,090
Opportunity Zone
No
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
12 x studio, 48 x 1BR/1BA, 24 x 2BR/2BA
Multifamily Units
84
Parking per Unit
1.5
Additional Details
Furnished
No
Sprinkler System
Yes
Amenities
pool
fitness center
on-site laundry
Building Details
Year Built
1940
Year Renovated
2022
Buildings
3
Stories
2
Construction
garden-style
Tenancy
Multi
Listing Agency:
RE/MAX Real Estate-Allentown
(610) 770-9000
Listed By:
Pamela Gothard · License #AB065634
(610) 770-9000
Source:
Cummingsrealtors
Added: Aug 20
Changed: Aug 30
Last Checked: Aug 23 at 6:50AM
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 RE/MAX Real Estate-Allentown
Investment Insights
Based on property information with market context.
Located at 39 Canal St in Lehighton, this duplex contains two apartments with a consistent two-bedroom, one-bath configuration. The first-floor unit has updated kitchen and bathroom areas and is ready for occupancy, while the second-floor apartment is leased to a long-term resident.
The property sits beside the Weissport Canal, and the upper unit includes a large porch facing the canal and surrounding wildlife. A yard adds outdoor space, while shopping, dining, and everyday services along Routes 443 and 209 are only minutes away. The property is within the Lehighton Area School District.
The property sits beside the Weissport Canal, and the upper unit includes a large porch facing the canal and surrounding wildlife. A yard adds outdoor space, while shopping, dining, and everyday services along Routes 443 and 209 are only minutes away. The property is within the Lehighton Area School District.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bath
- First‑floor unit has recently updated kitchen and bathroom areas
- Second‑floor apartment is occupied by a long‑term tenant
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
$18,463
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
8.59%
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%
$369,260
$369.3K
Cap Rate 7%
$263,757
$263.8K
Cap Rate 9%
$205,144
$205.1K
Market Conditions
NOI Build-Up for 2,001 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
$36.0K $18.00/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$33.6K $16.78/SF
− OpEx
−$15.1K −$7.55/SF
NOI
$18.5K $9.23/SF
Area
Carbon County, PA
Vacancy
6.80%
Lease Rate
$18.00 /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%
$369,260
Cap Rate 7%
$263,757
Cap Rate 9%
$205,144
Alternative Uses
Best Use
Multifamily LT 5
$299.8K
$262.4K – $349.8K
NOI $20,989 @ 7.0% cap · market cap 9.76%
Second Best
Apartment 5plus
$263.8K
$230.8K – $307.7K
NOI $18,463 @ 7.0% cap · market cap 8.59%
Theoretical Best
Specialty Retail
$393.1K
$344.0K – $458.6K
NOI $27,518 @ 7.0% cap · market cap 12.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
84
Residential units
94%
Occupancy
Multi-tenant
Tenancy
Yes
Sprinkler system
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
Explore this area
Business Placement
Demographics for 18235, PA
19,139
Population
8,796
Households
2.2
Avg Household Size
47
Median Age
19%
College-Educated
89%
High-School Grad
86.9 sq mi
ZIP Area
220
Density / Sq Mi
$72,626
Median Household Income
$44,418
Median Earnings
$1,003
Median Rent
$218,000
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 apartments offer matching two-bedroom, one-bath layouts, with one unit recently updated and the other occupied.
Where is this duplex located?
The property is located at 39 CANAL STREET Lehighton, PA.
What is the asking price?
The asking price for this property is $215,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bath; First‑floor unit has recently updated kitchen and bathroom areas; Second‑floor apartment is occupied by a long‑term tenant
