8-Unit Apartment
For Sale
$1,599,000
435 W Main St, Pen Argyl, PA 18072
Eight two-bedroom apartments with garages, storage units, and recent building-system upgrades.
Property Size11,586 SF
Price / SF$138.01
Days on Market17
Property Features for 435 W Main St
General Information
Standard status
Active
Size
11,586 SF
Total Parking Spaces
6
Net Operating Income
$145,509
Financials
Cap Rate
8%
Gross Income
$172,620
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Building Details
Year Built
1900
Buildings
1
Listing Agency:
CENTURY 21 Keim Realtors
(610) 266-4000
Listed By:
Ira R Gordon
Source:
Jennysoldmine
Added: Aug 13
Changed: Aug 29
Last Checked: Aug 26 at 10:18AM
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 CENTURY 21 Keim Realtors
Investment Insights
Based on property information with market context.
This 11,586-square-foot apartment property, built in 1900, contains eight two-bedroom, one-bath residences. Several apartments feature hardwood flooring in the living areas and bedrooms, while many have received remodeling with updated finishes. Recent improvements include a new heating system, sump pump, and hot water heater. The owner currently provides heat and hot water for the apartments.
The property also includes six garages, 10 storage units, and a large basement storage area. Located at 435 Main St in Pen Argyl Boro, the building is near shopping, schools, and major commuter routes. An 8% cap rate and 6 garages and 10 storage units provide additional operating context for investors.
The property also includes six garages, 10 storage units, and a large basement storage area. Located at 435 Main St in Pen Argyl Boro, the building is near shopping, schools, and major commuter routes. An 8% cap rate and 6 garages and 10 storage units provide additional operating context for investors.
Key Highlights
- Eight 2‑bedroom, 1‑bath apartments in an 11,586‑square‑foot building
- 6 garages and 10 storage units provide supplemental property amenities
- Recent improvements include a new heating system, sump pump, and hot water heater
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
$70,503
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
4.41%
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%
$1,410,060
$1.4M
Cap Rate 7%
$1,007,186
$1.0M
Cap Rate 9%
$783,367
$783.4K
Market Conditions
NOI Build-Up for 11,586 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
$139.0K $12.00/SF
− Vacancy
−$10.8K −$0.94/SF
EGI
$128.2K $11.06/SF
− OpEx
−$57.7K −$4.98/SF
NOI
$70.5K $6.09/SF
Area
Northampton County, PA
Vacancy
7.80%
Lease Rate
$12.00 /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%
$1,410,060
Cap Rate 7%
$1,007,186
Cap Rate 9%
$783,367
Alternative Uses
Best Use
Apartment 5plus
$1.01M
$881.3K – $1.18M
NOI $70,503 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.20M
$1.92M – $2.56M
NOI $153,825 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 18072, PA
6,734
Population
2,779
Households
2.4
Avg Household Size
43
Median Age
23%
College-Educated
87%
High-School Grad
14.9 sq mi
ZIP Area
452
Density / Sq Mi
$79,067
Median Household Income
$41,056
Median Earnings
$1,525
Median Rent
$244,100
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?
Apartment building - Eight two-bedroom apartments with garages, storage units, and recent building-system upgrades.
Where is this apartment building located?
The property is located at 435 W Main St Pen Argyl, PA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Eight 2‑bedroom, 1‑bath apartments in an 11,586‑square‑foot building; 6 garages and 10 storage units provide supplemental property amenities; Recent improvements include a new heating system, sump pump, and hot water heater
