Triplex With Remodeled
For Sale
$450,000
526-528 Pearl Street, Catasauqua, PA 18032
ResidentialIncome, Catasauqua Boro, PA
Property Size2,416 SF
Lot Size0.09 Acres
Price / SF$186.26
Days on Market9
Property Features for 526-528 Pearl Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2-Medium Density Residen
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 3
Subdivision
Not in Development
Elementary school district
Catasauqua
Middle school district
Catasauqua
High school district
Catasauqua
Directions
From Allentown, East on Race St to left on 12th to Pearl on left
Standard status
Active
APN
640838991835 1
Size
2,416 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Annual Amount
7039
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Amenities
fenced yard
concrete patio
sheds
full basements with washer and dryer hookups
Building Details
Year built
1879
Floors in Building
2
Number of units
3
Building materials
Frame, Stone, VinylSiding
Listing Agency:
Howard Hanna TheFrederickGroup
(610) 398-0411
Listed By:
Steve Dreisbach
(610) 730-2899
Added: Aug 13
Changed: Aug 19
Last Checked: Aug 21 at 1:06AM
MLS# 778967
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 2,416-square-foot triplex comprises three separate townhome-style units, each arranged with two bedrooms and one full bathroom. Interior improvements include remodeled kitchens and bathrooms, gas range/ovens, a combination of wall-to-wall carpeting and vinyl flooring, and full basements with washer and dryer hookups. The property was built in 1879 and uses natural-gas heating with forced air and baseboard systems, while cooling is provided by window units.
Set on a 0.085-acre corner lot in Catasauqua Boro, the property includes a fenced yard, concrete patio, and storage sheds. Public water and public sewer serve the building. All three units are occupied, and the property carries a 7% cap rate. R2-Medium Density Residen zoning supports its multifamily configuration.
Set on a 0.085-acre corner lot in Catasauqua Boro, the property includes a fenced yard, concrete patio, and storage sheds. Public water and public sewer serve the building. All three units are occupied, and the property carries a 7% cap rate. R2-Medium Density Residen zoning supports its multifamily configuration.
Key Highlights
- Three separate townhome units, each with 2 bedrooms and 1 full bathroom
- 2,416 square feet on a 0.085‑acre corner lot
- 7% cap rate with all three units occupied
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
$16,160
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
3.59%
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%
$323,200
$323.2K
Cap Rate 7%
$230,857
$230.9K
Cap Rate 9%
$179,556
$179.6K
Market Conditions
NOI Build-Up for 2,416 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
$24.9K $10.32/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$23.1K $9.56/SF
− OpEx
−$6.9K −$2.87/SF
NOI
$16.2K $6.69/SF
Area
Lehigh County, PA
Vacancy
7.41%
Lease Rate
$10.32 /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%
$323,200
Cap Rate 7%
$230,857
Cap Rate 9%
$179,556
Alternative Uses
Best Use
Multifamily LT 5
$230.9K
$202.0K – $269.3K
NOI $16,160 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$201.6K
$176.4K – $235.2K
NOI $14,114 @ 7.0% cap · market cap 3.14%
Theoretical Best
Mixed Use
$355.3K
$310.9K – $414.5K
NOI $24,870 @ 7.0% cap · market cap 5.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 18032, PA
9,489
Population
4,142
Households
2.3
Avg Household Size
40
Median Age
30%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
4,745
Density / Sq Mi
$79,700
Median Household Income
$47,066
Median Earnings
$1,078
Median Rent
$213,500
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?
Triplex - Fully occupied three-townhome property with private basements, outdoor areas, and R2-Medium Density Residen zoning.
Where is this triplex located?
The property is located at 526-528 Pearl Street Catasauqua, PA.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Three separate townhome units, each with 2 bedrooms and 1 full bathroom; 2,416 square feet on a 0.085‑acre corner lot; 7% cap rate with all three units occupied
