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    Charming Victorian Duplex Income Property Title is generated by Realmo AI

    406 NOBLE Street, Kutztown, PA 19530

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    For Sale
    $505,000

    MULTI_FAMILY - National - KUTZTOWN, PA

    Property size:
    3,294 SF
    Lot size:
    0.49 Acres
    Price / SF:
    $153/SF
    Added:
    Apr 29, 2026
    Days on Market:
    38
    Last Refresh:
    Jun 5 at 7:06 am

    Property Features for 406 NOBLE Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Rooms
    Dining Room, Basement
    Parking features
    Off Street, Parking Lot
    Interior features
    Breakfast Area, Built-Ins, Dining Area, Floor Plan - Traditional, Kitchen - Country, Kitchen - Island, Wood Floors
    Fireplace
    1
    Standard status
    Active
    Size
    3,294 SF
    Lot size
    0.49 Acres

    Taxes and HOA fees

    Tax Annual Amount
    4372

    Utilities

    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Year built
    1900
    Number of units
    2
    Building materials
    Brick
    Architectural style
    National

    We can help!

    Listing Contact
    Carolyn G Ilg

    Listing agent Carolyn G Ilg License #RS333156

    Listing office BHHS Homesale Realty- Reading Berks 955 Berkshire Boulevard, Lancaster, PA

    Listing date Apr 29, 2026

    MLS# PABK2071188 Listing URL

    Copyright © 2026 Bright MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Brick Victorian built in 1900 with forced‑air heating and central air
    • Main residence features an expansive kitchen with island plus breakfast area and wood floors
    • Formal dining room with custom built‑ins, wood floors, and large windows with deep sills
    • Family room includes a propane fireplace and built‑in shelving; study/recreation space off the dining room
    • Semi‑detached rental home with a private entrance, laundry hookup, and recently refreshed new flooring, fresh paint, and brand‑new kitchen
    • Half‑acre landscaped lot with a large deck and enclosed gazebo, hot tub hookup, and koi pond; off‑street parking

    Overview

    Located at 406 Noble Street, this charming brick Victorian offers a main residence plus a semi-detached rental home, creating genuine income potential. The main home features an expansive kitchen with a center island and abundant cabinetry, a formal dining room with custom built-ins, and hardwood floors with large windows. A versatile study or recreation space sits just off the dining room, while the generous family room includes a propane fireplace and built-in shelving. Additional flexibility is provided by a kitchenette and a full bathroom nearby. Upstairs, the second floor includes four spacious bedrooms, a laundry room filled with natural light, and a full bathroom with a walk-in shower.

    The semi-detached rental home was recently refreshed with new flooring, fresh paint, and a brand-new kitchen (appliances not included). It includes its own private entrance and laundry hookup, along with two bedrooms on the second floor and a walk-through layout in one bedroom, plus a full bathroom. The property is set on a beautifully landscaped half-acre lot with a large deck, enclosed gazebo, hot tub hookup, tranquil koi pond, and off-street parking. Recent updates include new natural gas heating and updated vinyl windows throughout both units.

    For buyers seeking a residential income property with character and practical separation between units, this layout supports either owner-occupancy with rental income or a straightforward two-home investment approach. The combination of flexible interior space, updated mechanicals, and outdoor entertaining areas provides a solid base for personalization through additional cosmetic improvements.

    Local Financial Insights For Multifamily LT 5

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $48.2k $14.64
    − Vacancy −$1.8k −$0.56
    EGI $46.4k $14.08
    − OpEx −$13.9k −$4.23
    NOI $32.5k $9.86
    3,294 SF · lease $14.64/SF/yr · vacancy 3.80% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $463.9K
    $405.9K – $541.2K (±1% cap)
    NOI $32,474 @ 7.0% cap · market cap 6.43%
    Second Best
    Apartment 5plus
    $405.5K
    $354.8K – $473.1K (±1% cap)
    NOI $28,384 @ 7.0% cap · market cap 5.62%
    Theoretical Best
    Office A
    $540.7K
    $473.2K – $630.9K (±1% cap)
    NOI $37,852 @ 7.0% cap · market cap 7.50%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Kutztown
    County
    Berks
    State
    Pennsylvania
    Longitude
    -75.77190399
    Latitude
    40.51079559

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    FAQs

    What type of property is this?
    Duplex - Brick Victorian duplex offers separate living spaces, updated systems, and rental flexibility near Kutztown University.
    Where is this duplex located?
    The property is located at 406 NOBLE Street Kutztown, PA.
    What is the asking price?
    The asking price for this property is $505,000.
    What are key features of this property?
    This property features: Brick Victorian built in 1900 with forced‑air heating and central air; Main residence features an expansive kitchen with island plus breakfast area and wood floors; Formal dining room with custom built‑ins, wood floors, and large windows with deep sills
    (484) 663-3332
    We can help!
    Listing Contact
    Carolyn G Ilg
    Real Estate License ID: RS333156
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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