Two-Unit Duplex with
444 Hanover Ave, Allentown, PA 18109
For Sale
$299,900
One residence is occupied, while the second is vacant and available for leasing.
Property Size1,812 SF
Price / SF$165.51
Days on Market27
Property Features for 444 Hanover Ave
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Tenant in Place
Taxes and HOA fees
Annual Taxes
Listing Agency:
Lehigh Valley 4 Rent LLC
Listed By:
Kelly M. Smith
(484) 550-6778
Source:
Exprealty
Added: Oct 15
Changed: Nov 7
Last Checked: Nov 8 at 7:53AM
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 Lehigh Valley 4 Rent LLC
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Investment Insights
Based on property information with market context.
This 1,812-square-foot duplex includes two residential units and a garage. One unit is occupied; the other is vacant. The property is offered in as-is condition, and tenants are responsible for heat and electric. A 7.5% pro forma cap rate is cited.
Shopping, dining, and major roadways are noted in the surrounding area.
Shopping, dining, and major roadways are noted in the surrounding area.
Key Highlights
- 1,812‑square‑foot duplex with two units
- One unit occupied; second unit vacant
- Garage on the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,007
Cap Rate
6.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,140
$380.1K
Cap Rate 7%
$271,529
$271.5K
Cap Rate 9%
$211,189
$211.2K
Market Conditions
NOI Build-Up for 1,812 SF
Gross rent
$29.4K $16.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$27.2K $14.99/SF
− OpEx
−$8.1K −$4.50/SF
NOI
$19.0K $10.49/SF
Area
Allentown, PA
Vacancy
7.50%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$380,140
Cap Rate 7%
$271,529
Cap Rate 9%
$211,189
Alternative Uses
Best Use
Multifamily LT 5
$271.5K
$237.6K – $316.8K
NOI $19,007 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$238.8K
$209.0K – $278.7K
NOI $16,719 @ 7.0% cap · market cap 5.57%
Theoretical Best
Specialty Retail
$356.0K
$311.5K – $415.3K
NOI $24,919 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
509
Businesses Nearby
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Business Placement
Demographics for 18109, PA
18,915
Population
7,395
Households
2.6
Avg Household Size
37
Median Age
19%
College-Educated
80%
High-School Grad
8.2 sq mi
ZIP Area
2,307
Density / Sq Mi
$55,437
Median Household Income
$36,632
Median Earnings
$1,239
Median Rent
$180,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Duplexes in Allentown, PA
Properties on Market for Duplexes in Allentown
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - One residence is occupied, while the second is vacant and available for leasing.
Where is this duplex located?
The property is located at 444 Hanover Ave Allentown, 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: 1,812‑square‑foot duplex with two units; One unit occupied; second unit vacant; Garage on the property
