Two-Unit
For Sale
Contact for pricing
500 W GORDON ST, Allentown, PA 18102
R-MH-zoned residential property with a two-unit configuration.
Property Size3,620 SF
Price / SF$146.41
Days on Market27
Property Features for 500 W GORDON ST
General Information
Standard status
Active
Size
3,620 SF
Property subtype
Multifamily
Zoning
R-MH
Additional Details
Multifamily Units
2
Building Details
Year Built
1900
Stories
2
Units
2
Tenancy
Multi
Listing Agency:
Century 21 Ramos Realty Bethlehem
(610) 866-4423
Listed By:
Anthony Ramos · License #AB068035
Source:
Crexi
Added: Aug 5
Changed: Aug 21
Last Checked: Aug 29 at 9:55AM
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 Ramos Realty Bethlehem
Investment Insights
Based on property information with market context.
This duplex contains two residential units within approximately 3,620 square feet of building area. The property dates to 1900 and is classified under R-MH zoning, providing a defined residential framework for the existing configuration.
Located at 500 W Gordon St in Allentown, Pennsylvania, the property offers a compact multifamily format suited to residential income ownership. The two-unit layout keeps the asset focused and straightforward for evaluation.
Located at 500 W Gordon St in Allentown, Pennsylvania, the property offers a compact multifamily format suited to residential income ownership. The two-unit layout keeps the asset focused and straightforward for evaluation.
Key Highlights
- Two‑unit duplex configuration
- 3,620 square feet of building area
- R‑MH zoning
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
$37,972
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
7.16%
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%
$759,440
$759.4K
Cap Rate 7%
$542,457
$542.5K
Cap Rate 9%
$421,911
$421.9K
Market Conditions
NOI Build-Up for 3,620 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
$58.6K $16.20/SF
− Vacancy
−$4.4K −$1.22/SF
EGI
$54.2K $14.99/SF
− OpEx
−$16.3K −$4.50/SF
NOI
$38.0K $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 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%
$759,440
Cap Rate 7%
$542,457
Cap Rate 9%
$421,911
Alternative Uses
Best Use
Multifamily LT 5
$542.5K
$474.7K – $632.9K
NOI $37,972 @ 7.0% cap · market cap 7.16%
Second Best
Apartment 5plus
$477.2K
$417.5K – $556.7K
NOI $33,401 @ 7.0% cap · market cap 6.30%
Theoretical Best
Specialty Retail
$711.2K
$622.3K – $829.7K
NOI $49,782 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,424
Businesses Nearby
Explore this area
Business Placement
Demographics for 18102, PA
51,567
Population
18,788
Households
2.7
Avg Household Size
32
Median Age
11%
College-Educated
76%
High-School Grad
3.0 sq mi
ZIP Area
17,189
Density / Sq Mi
$40,681
Median Household Income
$29,501
Median Earnings
$1,224
Median Rent
$146,600
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?
Duplex - R-MH-zoned residential property with a two-unit configuration.
Where is this duplex located?
The property is located at 500 W GORDON ST Allentown, PA.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Two‑unit duplex configuration; 3,620 square feet of building area; R‑MH zoning
