Two-Unit Residential Income
609 E LANCASTER AVENUE Reading, PA 19611
New
For Sale
$265,000
Well-maintained two-unit duplex with one occupied 1-bedroom unit and one vacant 2-bedroom unit.
Property Size1,636 SF
Price / SF$161.98
Days on Market7
Property Features for 609 E LANCASTER AVENUE
General Information
Standard status
Active
Size
1,636 SF
Property subtype
Duplex
Building Details
Year Built
1903
Listing Agency:
JM Diamond Realty
(484) 794-8363
Listed By:
Samantha Manzueta
(484) 794-8363
Source:
Cummingsrealtors
Added: Jul 23
Changed: Jul 26
Last Checked: Jul 29 at 5:54AM
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 JM Diamond Realty
Investment Insights
Based on property information with market context.
609 E Lancaster Ave is a well-maintained two-unit residential income property. The first-floor unit is currently occupied as a 1-bedroom apartment with electric heat that was installed this year. The second unit is a vacant 2-bedroom apartment, previously collecting rent with gas heat.
The property is positioned near nearby stores, schools, and restaurants. With one unit ready for new tenancy and the other currently in place, the building offers an owner-occupant or investor the ability to manage two separate residential units under one roof.
This is a two-unit duplex configuration with separate apartment layouts, including heating systems specified for each unit.
The property is positioned near nearby stores, schools, and restaurants. With one unit ready for new tenancy and the other currently in place, the building offers an owner-occupant or investor the ability to manage two separate residential units under one roof.
This is a two-unit duplex configuration with separate apartment layouts, including heating systems specified for each unit.
Key Highlights
- 1903‑built well‑maintained 2‑unit duplex
- First‑floor unit: 1‑bedroom, occupied; tenant pays $1,150/month
- First‑floor unit has electric heat; electric heat just installed this year
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $24.0k | $14.64 |
| − Vacancy | −$910 | −$0.56 |
| EGI | $23.0k | $14.08 |
| − OpEx | −$6.9k | −$4.23 |
| NOI | $16.1k | $9.86 |
1,636 SF · lease $14.64/SF/yr · vacancy 3.80% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$230.4K
$201.6K – $268.8K
NOI $16,129 @ 7.0% cap · market cap 6.09%
Second Best
Apartment 5plus
$201.4K
$176.2K – $235.0K
NOI $14,097 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$268.6K
$235.0K – $313.3K
NOI $18,800 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained two-unit duplex with one occupied 1-bedroom unit and one vacant 2-bedroom unit.
Where is this duplex located?
The property is located at 609 E LANCASTER AVENUE Reading, PA.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: 1903‑built well‑maintained 2‑unit duplex; First‑floor unit: 1‑bedroom, occupied; tenant pays $1,150/month; First‑floor unit has electric heat; electric heat just installed this year
