Two-Unit Duplex with Detached
For Sale
$299,900
434 Main Street, Bethlehem, PA 18017
Two apartments offer updated kitchens and baths, with tenants covering most utility costs.
Property Size1,740 SF
Days on Market23
Property Features for 434 Main Street
General Information
Standard status
Active
Size
1,740 SF
Property subtype
Apartment
Taxes and HOA fees
Annual Taxes
$2,802
Building Details
Building Size
1,740 SF
Year Built
1900
Listing Agency:
Realty Outfitters
(484) 201-5251
Listed By:
Geoffrey B. Gunn
Source:
Bhhspaulfordrealtors
Added: Aug 11
Changed: Aug 31
Last Checked: Sep 1 at 11:25PM
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 Realty Outfitters
Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two separate apartments arranged across two floors. The first-floor residence has two bedrooms, while the second-floor apartment includes one bedroom. Both units feature modern kitchens and bathrooms, and the property also includes a detached garage.
Gas heat, hot water, and electric service are paid by the tenants; the owner remains responsible for water and sewer. The property is near shopping, entertainment venues, and major transportation routes. Current rents are identified as below-market, and the property is reported to produce an approximately 8.4% cap rate at the listed price.
Gas heat, hot water, and electric service are paid by the tenants; the owner remains responsible for water and sewer. The property is near shopping, entertainment venues, and major transportation routes. Current rents are identified as below-market, and the property is reported to produce an approximately 8.4% cap rate at the listed price.
Key Highlights
- Two‑unit duplex with a first‑floor 2‑bedroom apartment and second‑floor 1‑bedroom apartment
- Detached garage included
- Modern kitchens and baths in both apartments
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
$11,638
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
3.88%
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%
$232,760
$232.8K
Cap Rate 7%
$166,257
$166.3K
Cap Rate 9%
$129,311
$129.3K
Market Conditions
NOI Build-Up for 1,740 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
$18.0K $10.32/SF
− Vacancy
−$1.3K −$0.76/SF
EGI
$16.6K $9.56/SF
− OpEx
−$5.0K −$2.87/SF
NOI
$11.6K $6.69/SF
Area
Lehigh County, PA
Vacancy
7.41%
Lease Rate
$10.32 /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%
$232,760
Cap Rate 7%
$166,257
Cap Rate 9%
$129,311
Alternative Uses
Best Use
Multifamily LT 5
$166.3K
$145.5K – $194.0K
NOI $11,638 @ 7.0% cap · market cap 3.88%
Second Best
Apartment 5plus
$145.2K
$127.1K – $169.4K
NOI $10,165 @ 7.0% cap · market cap 3.39%
Theoretical Best
Mixed Use
$255.9K
$223.9K – $298.5K
NOI $17,911 @ 7.0% cap · market cap 5.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 18017, PA
39,663
Population
16,773
Households
2.4
Avg Household Size
46
Median Age
40%
College-Educated
93%
High-School Grad
16.8 sq mi
ZIP Area
2,361
Density / Sq Mi
$88,946
Median Household Income
$45,618
Median Earnings
$1,535
Median Rent
$310,600
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 updated kitchens and baths, with tenants covering most utility costs.
Where is this duplex located?
The property is located at 434 Main Street Bethlehem, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex with a first‑floor 2‑bedroom apartment and second‑floor 1‑bedroom apartment; Detached garage included; Modern kitchens and baths in both apartments
