Three-Unit Detached Apartment
For Sale
$400,000
Pending
500 Windsor Street, Hamburg, PA 19526
Detached three-unit building includes a detached two-car garage, fenced yard, and multiple heating systems and apartments.
Property Size3,952 SF
Days on Market135
Property Features for 500 Windsor Street
General Information
Standard status
Pending
Size
3,952 SF
Total Parking Spaces
5
Property subtype
Multi-Family / Fee Simple
Zoning
MDR-1/MDR-2
Taxes and HOA fees
Annual Taxes
$3,536
Amenities
Refrigerator
Breakfast Area, Combination Kitchen/Dining, Carpet, Dining Area, Floor Plan - Traditional, Pantry
No Pool
Building Details
Year Built
1900
Listing Agency:
Iron Valley Real Estate of Berks
(610) 406-8198
Listed By:
Fernando Hernandez · License #rs339935
(610) 406-8198
Source:
Compass
Added: Apr 11
Changed: Aug 23
Last Checked: Aug 22 at 5:46PM
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 Iron Valley Real Estate of Berks
Investment Insights
Based on property information with market context.
This detached three-unit apartment building offers income-producing residential space configured across two separate sides. Unit 502b is a three-bedroom apartment on the second and third floors, while Unit 502a is a one-bedroom apartment on the first floor; Units 502a and 502b share a heating system. Unit 500 occupies the entire left side and is a three-story home with three bedrooms, a full attic, and a basement, along with a separate heating system.
Outside, the property includes a detached two-car garage and a private fenced-in yard. Recent improvements mentioned include new gas high-efficiency boilers, new sidewalk, and a retaining wall.
The second parcel includes the garage, with described potential for additional income. The building is located just two blocks from Hamburg High School and is minutes from Rt 61 and I-78.
Outside, the property includes a detached two-car garage and a private fenced-in yard. Recent improvements mentioned include new gas high-efficiency boilers, new sidewalk, and a retaining wall.
The second parcel includes the garage, with described potential for additional income. The building is located just two blocks from Hamburg High School and is minutes from Rt 61 and I-78.
Key Highlights
- Detached 3‑unit building on a 0.35‑acre corner lot with a detached 2‑car garage and private fenced yard
- Unit 502b (right side) is a 3‑bedroom apartment on the second and third floors
- Unit 502a (right side) is a 1‑bedroom apartment on the first floor; 502a and 502b use a shared heating system
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
$34,054
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
8.51%
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%
$681,080
$681.1K
Cap Rate 7%
$486,486
$486.5K
Cap Rate 9%
$378,378
$378.4K
Market Conditions
NOI Build-Up for 3,952 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
$64.5K $16.32/SF
− Vacancy
−$2.6K −$0.65/SF
EGI
$61.9K $15.67/SF
− OpEx
−$27.9K −$7.05/SF
NOI
$34.1K $8.62/SF
Area
Berks County, PA
Vacancy
4.00%
Lease Rate
$16.32 /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%
$681,080
Cap Rate 7%
$486,486
Cap Rate 9%
$378,378
Alternative Uses
Best Use
Multifamily LT 5
$556.6K
$487.0K – $649.4K
NOI $38,961 @ 7.0% cap · market cap 9.74%
Second Best
Apartment 5plus
$486.5K
$425.7K – $567.6K
NOI $34,054 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$648.8K
$567.7K – $756.9K
NOI $45,413 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
461
Businesses Nearby
Explore this area
Business Placement
Demographics for 19526, PA
11,139
Population
5,240
Households
2.1
Avg Household Size
46
Median Age
20%
College-Educated
87%
High-School Grad
57.5 sq mi
ZIP Area
194
Density / Sq Mi
$72,165
Median Household Income
$47,148
Median Earnings
$1,072
Median Rent
$209,800
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?
Triplex - Detached three-unit building includes a detached two-car garage, fenced yard, and multiple heating systems and apartments.
Where is this triplex located?
The property is located at 500 Windsor Street Hamburg, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Detached 3‑unit building on a 0.35‑acre corner lot with a detached 2‑car garage and private fenced yard; Unit 502b (right side) is a 3‑bedroom apartment on the second and third floors; Unit 502a (right side) is a 1‑bedroom apartment on the first floor; 502a and 502b use a shared heating system
