Two-Unit Duplex with
For Sale
$340,000
535 West Tilghman Street, Allentown, PA 18102
Two residential units include covered off-street parking and separate bedroom configurations.
Property Size2,660 SF
Days on Market19
Property Features for 535 West Tilghman Street
General Information
Standard status
Active
Size
2,660 SF
Total Parking Spaces
1
Property subtype
Apartment
Units
Unit Mix
1 x 2BR, 1 x 4BR
Multifamily Units
2
Additional Details
Gross Income
$39,540
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,799
Building Details
Building Size
2,660 SF
Year Built
1900
Listing Agency:
Full CircleRealty&PropertyMgmt
(610) 762-8995
Listed By:
Kristine McCreary-Williams
Source:
Bhhspaulfordrealtors
Added: Aug 11
Changed: Aug 25
Last Checked: Aug 28 at 6:25PM
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 Full CircleRealty&PropertyMgmt
Investment Insights
Based on property information with market context.
This 2,660-square-foot duplex contains two residential units. The first-floor apartment has two bedrooms, while the second-floor unit offers four bedrooms. A one-car garage provides covered, off-street parking associated with the first-floor residence.
Located at 535 W Tilghman St in Allentown, PA, the property offers tenant access to major highways, shopping, and restaurants. Tenants pay for trash, electric, and gas, supporting a clearly defined utility arrangement for the residences.
Located at 535 W Tilghman St in Allentown, PA, the property offers tenant access to major highways, shopping, and restaurants. Tenants pay for trash, electric, and gas, supporting a clearly defined utility arrangement for the residences.
Key Highlights
- 2,660‑square‑foot duplex with two residential units
- First‑floor unit has 2 bedrooms
- Second‑floor unit has 4 bedrooms
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
$27,902
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
8.21%
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%
$558,040
$558.0K
Cap Rate 7%
$398,600
$398.6K
Cap Rate 9%
$310,022
$310.0K
Market Conditions
NOI Build-Up for 2,660 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
$43.1K $16.20/SF
− Vacancy
−$3.2K −$1.22/SF
EGI
$39.9K $14.99/SF
− OpEx
−$12.0K −$4.50/SF
NOI
$27.9K $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%
$558,040
Cap Rate 7%
$398,600
Cap Rate 9%
$310,022
Alternative Uses
Best Use
Multifamily LT 5
$398.6K
$348.8K – $465.0K
NOI $27,902 @ 7.0% cap · market cap 8.21%
Second Best
Apartment 5plus
$350.6K
$306.8K – $409.1K
NOI $24,543 @ 7.0% cap · market cap 7.22%
Theoretical Best
Specialty Retail
$522.6K
$457.3K – $609.7K
NOI $36,580 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,701
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 - Two residential units include covered off-street parking and separate bedroom configurations.
Where is this duplex located?
The property is located at 535 West Tilghman Street Allentown, PA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 2,660‑square‑foot duplex with two residential units; First‑floor unit has 2 bedrooms; Second‑floor unit has 4 bedrooms
