Two-Unit Duplex with Detached
For Sale
$329,000
Pending
501 North Charlotte Street, Pottstown, PA 19464
Two one-bedroom apartments offer separate utilities, eat-in kitchens, and flexible month-to-month occupancy.
Property Size2,318 SF
Days on Market130
Property Features for 501 North Charlotte Street
General Information
Standard status
Pending
Size
2,318 SF
Total Parking Spaces
2
Property subtype
Multi-Family / Fee Simple
Zoning
RES
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,684
Amenities
No
Dryer - Electric, Oven/Range - Electric, Refrigerator, Washer
Kitchen - Eat-In
No Pool
Building Details
Year Built
1935
Buildings
1
Listing Agency:
EXP Realty, LLC
(610) 517-7594
Listed By:
Karen Chiodo · License #RS276193
(610) 517-7594
Source:
Compass
Added: Apr 23
Changed: Aug 29
Last Checked: Aug 29 at 2:24PM
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 EXP Realty, LLC
Investment Insights
Based on property information with market context.
Located at 501 North Charlotte Street in Pottstown, this 2,318-square-foot duplex contains two one-bedroom apartments, each with a full kitchen, full bath, and spacious living area. Both kitchens include dining space, while large windows bring natural light into the units. The first-floor apartment has access to the basement and laundry area; the upper unit includes pull-down attic storage.
A detached 2-car garage provides additional usable space and is currently rented. Separate electric service and individual water heaters support distinct utility management for the apartments. Built in 1935, the property is occupied by long-term tenants on month-to-month leases. The layout also offers a documented option to reconfigure the building as a 3BR/2BA single-family residence.
A detached 2-car garage provides additional usable space and is currently rented. Separate electric service and individual water heaters support distinct utility management for the apartments. Built in 1935, the property is occupied by long-term tenants on month-to-month leases. The layout also offers a documented option to reconfigure the building as a 3BR/2BA single-family residence.
Key Highlights
- 2,318‑square‑foot duplex with two 1‑bedroom apartments
- Detached 2‑car garage is currently rented
- Separate electric service and individual water heaters
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
$26,637
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
8.10%
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%
$532,740
$532.7K
Cap Rate 7%
$380,529
$380.5K
Cap Rate 9%
$295,967
$296.0K
Market Conditions
NOI Build-Up for 2,318 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
$44.5K $19.20/SF
− Vacancy
−$6.5K −$2.78/SF
EGI
$38.1K $16.42/SF
− OpEx
−$11.4K −$4.92/SF
NOI
$26.6K $11.49/SF
Area
Chester County, PA
Vacancy
14.50%
Lease Rate
$19.20 /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%
$532,740
Cap Rate 7%
$380,529
Cap Rate 9%
$295,967
Alternative Uses
Best Use
Multifamily LT 5
$380.5K
$333.0K – $444.0K
NOI $26,637 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$359.1K
$314.2K – $418.9K
NOI $25,135 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$702.8K
$615.0K – $819.9K
NOI $49,196 @ 7.0% cap · market cap 14.95%
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
667
Businesses Nearby
Explore this area
Business Placement
Demographics for 19464, PA
48,409
Population
19,985
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
91%
High-School Grad
25.6 sq mi
ZIP Area
1,891
Density / Sq Mi
$76,338
Median Household Income
$44,888
Median Earnings
$1,226
Median Rent
$231,700
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 one-bedroom apartments offer separate utilities, eat-in kitchens, and flexible month-to-month occupancy.
Where is this duplex located?
The property is located at 501 North Charlotte Street Pottstown, PA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 2,318‑square‑foot duplex with two 1‑bedroom apartments; Detached 2‑car garage is currently rented; Separate electric service and individual water heaters
