Two-Unit Historic District
For Sale
$270,000
405 N 9th St, Allentown, PA 18102
Two residential units provide distinct layouts across the first, second, and third floors.
Property Size2,035 SF
Price / SF$132.68
Days on Market60
Property Features for 405 N 9th St
General Information
Standard status
Active
Size
2,035 SF
Property subtype
Multi-Family
Building Details
Year Built
1873
Listing Agency:
RE/MAX Real Estate
(610) 770-9000
Listed By:
Creighton Faust
Source:
Poconohomessearch
Added: Jul 4
Changed: Aug 30
Last Checked: Aug 31 at 5:39PM
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
Investment Insights
Based on property information with market context.
This 2,035-square-foot duplex, built in 1873, contains two residential units with distinct floor plans. The first-floor unit includes one bedroom, one full bathroom, basement access, and a garage. The upper residence occupies the second and third floors and offers two bedrooms plus one and a half bathrooms.
The lower unit is occupied under a month-to-month arrangement, while the upper unit has a lease running through 12/31/2026. The property is situated in Allentown's Historic District at 405 N 9th St, with downtown amenities, restaurants, parks, and major routes identified in the surrounding area.
The lower unit is occupied under a month-to-month arrangement, while the upper unit has a lease running through 12/31/2026. The property is situated in Allentown's Historic District at 405 N 9th St, with downtown amenities, restaurants, parks, and major routes identified in the surrounding area.
Key Highlights
- 2,035 SF duplex built in 1873
- Two‑unit configuration with 1‑bedroom and 2‑bedroom residences
- First‑floor unit includes basement access and a garage
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
$21,346
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
7.91%
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%
$426,920
$426.9K
Cap Rate 7%
$304,943
$304.9K
Cap Rate 9%
$237,178
$237.2K
Market Conditions
NOI Build-Up for 2,035 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
$33.0K $16.20/SF
− Vacancy
−$2.5K −$1.22/SF
EGI
$30.5K $14.99/SF
− OpEx
−$9.1K −$4.50/SF
NOI
$21.3K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /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%
$426,920
Cap Rate 7%
$304,943
Cap Rate 9%
$237,178
Alternative Uses
Best Use
Multifamily LT 5
$304.9K
$266.8K – $355.8K
NOI $21,346 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$268.2K
$234.7K – $313.0K
NOI $18,777 @ 7.0% cap · market cap 6.95%
Theoretical Best
Specialty Retail
$399.8K
$349.8K – $466.4K
NOI $27,985 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two residential units provide distinct layouts across the first, second, and third floors.
Where is this duplex located?
The property is located at 405 N 9th St Allentown, PA.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: 2,035 SF duplex built in 1873; Two‑unit configuration with 1‑bedroom and 2‑bedroom residences; First‑floor unit includes basement access and a garage
