Brick Four-Unit Apartment
New
For Sale
$850,000
506 W Berwick Street, Easton, PA 18042
ResidentialIncome, Easton, PA
Property Size3,816 SF
Lot Size0.13 Acres
Price / SF$222.75
Days on Market4
Property Features for 506 W Berwick Street
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Zoning
10BNS
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 8, Bathroom 1, Bedroom 6, Bathroom 4, Bedroom 4, Bedroom 5, Bathroom 3, Bedroom 2, Bathroom 2, Bedroom 7, Bedroom 1, Bedroom 3
Parking
8
Subdivision
Not in Development
Elementary school district
Easton
Middle school district
Easton
High school district
Easton
Directions
From Interstate 78 Travel South on Morgan Hill Rd. Turn Left on Philadelphia Rd. Turn Left on Berwick St.
Standard status
Active
APN
M9NE1B-3-11-0310
Size
3,816 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Annual Amount
6303
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Central Air
Water source
Public
Building Details
Year built
1910
Floors in Building
2
Number of units
4
Building materials
Brick
Listing Agency:
IronValley RE of Lehigh Valley
(610) 766-7200
Listed By:
Eric M. Riedinger
(610) 462-4680
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 12 at 10:06AM
MLS# 784283
Copyright © 2026 Greater Lehigh Valley REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,816-square-foot brick quadplex contains four two-bedroom, one-bathroom apartments. Each unit was fully renovated in 2015 and has separate heat pump HVAC, individually metered water and electric, and public utility service. The building was constructed in 1910 and includes an eight-car off-street parking lot.
The property is located at 506 W Berwick Street in Easton, Pennsylvania, with Interstate 78 less than one mile away and access to Routes 22 and 33. The 0.125-acre parcel is served by public water and public sewer and is zoned 10BNS.
The property is located at 506 W Berwick Street in Easton, Pennsylvania, with Interstate 78 less than one mile away and access to Routes 22 and 33. The 0.125-acre parcel is served by public water and public sewer and is zoned 10BNS.
Key Highlights
- Four two‑bedroom, one‑bathroom apartment units
- 3,816 square feet on a 0.125‑acre parcel
- All four units fully renovated in 2015
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
$25,227
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
2.97%
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%
$504,540
$504.5K
Cap Rate 7%
$360,386
$360.4K
Cap Rate 9%
$280,300
$280.3K
Market Conditions
NOI Build-Up for 3,816 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
$38.9K $10.20/SF
− Vacancy
−$2.9K −$0.76/SF
EGI
$36.0K $9.44/SF
− OpEx
−$10.8K −$2.83/SF
NOI
$25.2K $6.61/SF
Area
Northampton County, PA
Vacancy
7.41%
Lease Rate
$10.20 /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%
$504,540
Cap Rate 7%
$360,386
Cap Rate 9%
$280,300
Alternative Uses
Best Use
Multifamily LT 5
$360.4K
$315.3K – $420.5K
NOI $25,227 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$331.7K
$290.3K – $387.0K
NOI $23,221 @ 7.0% cap · market cap 2.73%
Theoretical Best
Office A
$723.8K
$633.3K – $844.4K
NOI $50,664 @ 7.0% cap · market cap 5.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
497
Businesses Nearby
Explore this area
Business Placement
Demographics for 18042, PA
44,026
Population
17,932
Households
2.5
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
22.1 sq mi
ZIP Area
1,992
Density / Sq Mi
$75,806
Median Household Income
$40,015
Median Earnings
$1,245
Median Rent
$205,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Renovated multifamily property with separately serviced apartments and off-street tenant parking.
Where is this quadplex located?
The property is located at 506 W Berwick Street Easton, PA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Four two‑bedroom, one‑bathroom apartment units; 3,816 square feet on a 0.125‑acre parcel; All four units fully renovated in 2015
