Two-Unit Duplex with Updated
For Sale
$229,900
412 Spruce St, Reading, PA 19602
Separate residences include a first-floor one-bedroom unit and a recently refreshed two-bedroom unit across two upper levels.
Property Size1,704 SF
Price / SF$134.92
Days on Market49
Property Features for 412 Spruce St
General Information
Standard status
Active
Size
1,704 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 1BR, 1 x 2BR
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Pagoda Realty ERA Powered
Listed By:
Jimmy Thelusca · License #RS333622
(610) 927-7466
Source:
Jennysoldmine
Added: Sep 16
Changed: Oct 26
Last Checked: Oct 7 at 4:29PM
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 Pagoda Realty ERA Powered
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Investment Insights
Based on property information with market context.
This duplex at 412 Spruce Street contains two distinct residential residences within a 1900-built property. The first-floor unit has one bedroom and is occupied by a month-to-month tenant. The second residence occupies the second and third floors, includes two bedrooms, and has been updated throughout; it is currently vacant and ready for occupancy or leasing.
Residents pay their own electricity and electric baseboard heating, with natural gas heat available as an option. The owner covers water, sewer, trash, and common-area electric service. A clear basement provides additional storage, and rear parking may be possible subject to verification. The property is located in Reading, Pennsylvania.
Residents pay their own electricity and electric baseboard heating, with natural gas heat available as an option. The owner covers water, sewer, trash, and common-area electric service. A clear basement provides additional storage, and rear parking may be possible subject to verification. The property is located in Reading, Pennsylvania.
Key Highlights
- Two separate residential units in a duplex configuration
- First‑floor one‑bedroom unit with a month‑to‑month tenant
- Two‑bedroom residence spans the second and third floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,799
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,980
$336.0K
Cap Rate 7%
$239,986
$240.0K
Cap Rate 9%
$186,656
$186.7K
Market Conditions
NOI Build-Up for 1,704 SF
Gross rent
$24.9K $14.64/SF
− Vacancy
−$948 −$0.56/SF
EGI
$24.0K $14.08/SF
− OpEx
−$7.2K −$4.23/SF
NOI
$16.8K $9.86/SF
Area
Berks County, PA
Vacancy
3.80%
Lease Rate
$14.64 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$335,980
Cap Rate 7%
$239,986
Cap Rate 9%
$186,656
Alternative Uses
Best Use
Multifamily LT 5
$240.0K
$210.0K – $280.0K
NOI $16,799 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$209.8K
$183.5K – $244.7K
NOI $14,683 @ 7.0% cap · market cap 6.39%
Theoretical Best
Office A
$279.7K
$244.8K – $326.4K
NOI $19,581 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,371
Businesses Nearby
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Business Placement
Demographics for 19602, PA
19,782
Population
7,907
Households
2.5
Avg Household Size
32
Median Age
11%
College-Educated
71%
High-School Grad
2.0 sq mi
ZIP Area
9,891
Density / Sq Mi
$38,179
Median Household Income
$30,848
Median Earnings
$978
Median Rent
$73,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Separate residences include a first-floor one-bedroom unit and a recently refreshed two-bedroom unit across two upper levels.
Where is this duplex located?
The property is located at 412 Spruce St Reading, PA.
What is the asking price?
The asking price for this property is $229,900.
What are key features of this property?
This property features: Two separate residential units in a duplex configuration; First‑floor one‑bedroom unit with a month‑to‑month tenant; Two‑bedroom residence spans the second and third floors
