Renovated Multi-Family
For Sale
$199,900
410 N 2nd Street, Allentown, PA 18102
MULTI_FAMILY - Allentown City, PA
Property Size1,955 SF
Lot Size0.03 Acres
Price / SF$102.25
Days on Market17
Property Features for 410 N 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-Mh
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1
Parking features
On Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
From Fullerton Ave South to Right on Tilghman St, Left on Second St to home on Right. (Between Liberty and Gordon)
Standard status
Active
APN
640733472828-00001
Size
1,955 SF
Lot size
0.03 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
1
Building materials
Brick
Listing Agency:
Century 21 Ramos Realty · Century 21 Real Estate
(484) 664-2340
Listed By:
Maria Rossi
(908) 358-9408
Added: Jul 21
Changed: Aug 1
Last Checked: Aug 6 at 2:06PM
MLS# 781206
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is a residential income asset featuring 5 bedrooms and 2 bathrooms. Updates include an added second bathroom, completed renovations, brand-new carpet, and fresh paint throughout. Larger mechanical and exterior components are already addressed, including a water heater installed approximately three years ago and roof work completed.
The home is located in Allentown City, Pennsylvania on N 2nd Street within Lehigh County. The listing notes that it is positioned close to schools and everyday conveniences.
With its renovated interior and documented improvements, the residence is presented as move-in ready for a new owner and tenant.
The home is located in Allentown City, Pennsylvania on N 2nd Street within Lehigh County. The listing notes that it is positioned close to schools and everyday conveniences.
With its renovated interior and documented improvements, the residence is presented as move-in ready for a new owner and tenant.
Key Highlights
- 5‑bedroom, 2‑bath home with public water and public sewer
- Brick construction with forced air natural gas heating
- Window unit cooling
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
$18,038
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
9.02%
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%
$360,760
$360.8K
Cap Rate 7%
$257,686
$257.7K
Cap Rate 9%
$200,422
$200.4K
Market Conditions
NOI Build-Up for 1,955 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
$35.2K $18.00/SF
− Vacancy
−$2.4K −$1.22/SF
EGI
$32.8K $16.78/SF
− OpEx
−$14.8K −$7.55/SF
NOI
$18.0K $9.23/SF
Area
Allentown, 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%
$360,760
Cap Rate 7%
$257,686
Cap Rate 9%
$200,422
Alternative Uses
Best Use
Apartment 5plus
$257.7K
$225.5K – $300.6K
NOI $18,038 @ 7.0% cap · market cap 9.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$384.1K
$336.1K – $448.1K
NOI $26,885 @ 7.0% cap · market cap 13.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,189
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Single family property - Renovated multi-family home with 5 bedrooms and 2 bathrooms, featuring a newer water heater and recent roof work.
Where is this single family property located?
The property is located at 410 N 2nd Street Allentown, PA.
What is the asking price?
The asking price for this property is $199,900.
What are key features of this property?
This property features: 5‑bedroom, 2‑bath home with public water and public sewer; Brick construction with forced air natural gas heating; Window unit cooling
