Duplex with Oversized
For Sale
$597,000
4435 Steuben Rd, Bethlehem, PA 18020
Two-unit property with refreshed flooring, flexible layouts, and substantial off-street parking near shopping and regional road connections.
Property Size3,342 SF
Price / SF$178.64
Days on Market140
Property Features for 4435 Steuben Rd
General Information
Standard status
Active
Size
3,342 SF
Property subtype
Residential Income
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,008
Listing Agency:
BHHS Fox & Roach Bethlehem
(610) 704-6200
Listed By:
John L. Ebeling
(610) 704-6200
Source:
Exprealty
Added: Mar 28
Changed: Aug 14
Last Checked: Aug 14 at 6:08AM
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 BHHS Fox & Roach Bethlehem
Investment Insights
Based on property information with market context.
This 3,342-square-foot duplex contains two functional residential units, offering a flexible setup for rental occupancy, owner use, or extended-family living. Interior finishes include hardwood plank, laminate, carpet, vinyl, and tile flooring, with new flooring installed in both kitchens. Bedroom carpeting has been professionally cleaned, and the main roof was replaced in 2024.
A detached 3-car garage measures 40' wide by 30' deep and adds meaningful storage, parking, or income-producing utility. Two garage bays are heated, while one includes a water source. The property also provides off-street parking for 8+ cars in the front and rear. Located in Lower Nazareth Twp., the property is near shopping, entertainment, restaurants, and routes 22, 33, and 78.
A detached 3-car garage measures 40' wide by 30' deep and adds meaningful storage, parking, or income-producing utility. Two garage bays are heated, while one includes a water source. The property also provides off-street parking for 8+ cars in the front and rear. Located in Lower Nazareth Twp., the property is near shopping, entertainment, restaurants, and routes 22, 33, and 78.
Key Highlights
- Two‑unit duplex with 3,342 SF of residential space
- Detached 3‑car garage measuring 40' wide x 30' deep
- Two heated garage bays; one garage includes a water source
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
$22,354
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
3.74%
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%
$447,080
$447.1K
Cap Rate 7%
$319,343
$319.3K
Cap Rate 9%
$248,378
$248.4K
Market Conditions
NOI Build-Up for 3,342 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
$34.5K $10.32/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$31.9K $9.56/SF
− OpEx
−$9.6K −$2.87/SF
NOI
$22.4K $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%
$447,080
Cap Rate 7%
$319,343
Cap Rate 9%
$248,378
Alternative Uses
Best Use
Multifamily LT 5
$319.3K
$279.4K – $372.6K
NOI $22,354 @ 7.0% cap · market cap 3.74%
Second Best
Apartment 5plus
$278.9K
$244.0K – $325.4K
NOI $19,523 @ 7.0% cap · market cap 3.27%
Theoretical Best
Mixed Use
$491.5K
$430.0K – $573.4K
NOI $34,402 @ 7.0% cap · market cap 5.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
195
Businesses Nearby
Explore this area
Business Placement
Demographics for 18020, PA
20,582
Population
7,940
Households
2.6
Avg Household Size
45
Median Age
42%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
1,583
Density / Sq Mi
$122,610
Median Household Income
$53,144
Median Earnings
$1,493
Median Rent
$348,900
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-unit property with refreshed flooring, flexible layouts, and substantial off-street parking near shopping and regional road connections.
Where is this duplex located?
The property is located at 4435 Steuben Rd Bethlehem, PA.
What is the asking price?
The asking price for this property is $597,000.
What are key features of this property?
This property features: Two‑unit duplex with 3,342 SF of residential space; Detached 3‑car garage measuring 40' wide x 30' deep; Two heated garage bays; one garage includes a water source
