Two-Unit
New
For Sale
$235,000
604 N MARKET STREET, Berwick, PA 18603
Two separate apartments provide a compact residential income property near downtown Berwick.
Property Size1,840 SF
Price / SF$127.72
Days on Market5
Property Features for 604 N MARKET STREET
General Information
Standard status
Active
Size
1,840 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Building Details
Year Built
1900
Listing Agency:
Pro Real Estate Services, Inc.
(570) 784-4499
Listed By:
Mark E Humphreys · License #RM425322
(570) 441-5562
Source:
Cummingsrealtors
Added: Sep 23
Changed: Sep 26
Last Checked: Sep 26 at 2:35PM
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 Pro Real Estate Services, Inc.
Investment Insights
Based on property information with market context.
This duplex contains two separate apartments, each with two bedrooms and one full bathroom. The building has 1,840 square feet and was constructed in 1900.
At 604 N Market Street, the property is near downtown Berwick, Pennsylvania.
At 604 N Market Street, the property is near downtown Berwick, Pennsylvania.
Key Highlights
- Two apartments, each with 2 bedrooms and 1 full bathroom
- 1,840‑square‑foot building
- Built in 1900
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
$19,461
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
8.28%
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%
$389,220
$389.2K
Cap Rate 7%
$278,014
$278.0K
Cap Rate 9%
$216,233
$216.2K
Market Conditions
NOI Build-Up for 1,840 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
$38.4K $20.88/SF
− Vacancy
−$3.0K −$1.65/SF
EGI
$35.4K $19.23/SF
− OpEx
−$15.9K −$8.65/SF
NOI
$19.5K $10.58/SF
Area
Columbia County, PA
Vacancy
7.90%
Lease Rate
$20.88 /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%
$389,220
Cap Rate 7%
$278,014
Cap Rate 9%
$216,233
Alternative Uses
Best Use
Multifamily LT 5
$312.5K
$273.4K – $364.6K
NOI $21,874 @ 7.0% cap · market cap 9.31%
Second Best
Apartment 5plus
$278.0K
$243.3K – $324.4K
NOI $19,461 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$616.9K
$539.8K – $719.7K
NOI $43,184 @ 7.0% cap · market cap 18.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Explore this area
Business Placement
Demographics for 18603, PA
18,728
Population
9,235
Households
2
Avg Household Size
45
Median Age
18%
College-Educated
90%
High-School Grad
53.4 sq mi
ZIP Area
351
Density / Sq Mi
$55,969
Median Household Income
$40,323
Median Earnings
$789
Median Rent
$164,500
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate apartments provide a compact residential income property near downtown Berwick.
Where is this duplex located?
The property is located at 604 N MARKET STREET Berwick, PA.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two apartments, each with 2 bedrooms and 1 full bathroom; 1,840‑square‑foot building; Built in 1900
