2-Unit Duplex with
New
For Sale
$225,000
623 N Lumber Street, Allentown, PA 18102
ResidentialIncome, Allentown City, PA
Property Size1,283 SF
Lot Size0.04 Acres
Price / SF$175.37
Days on Market3
Property Features for 623 N Lumber Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
N1-Urban Neighborhood
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1
Parking
1
Parking features
Garage
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Traveling west on Tilghman, take a left at N Lumber. Property on your left.
Standard status
Active
APN
549793037678-1
Size
1,283 SF
Lot size
0.04 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Annual Amount
1685
Utilities
Sewer type
Public Sewer
Heating system
Baseboard
Water source
Public
Amenities
fenced backyard
oversized garage
laundry hookup
Building Details
Year built
1878
Floors in Building
2
Number of units
2
Building materials
VinylSiding
Listing Agency:
Keller Williams Allentown · Keller Williams Realty
(610) 435-1800
Listed By:
Christopher W. McKay
(215) 459-5689
Added: Oct 28
Last Checked: Oct 30 at 1:06PM
MLS# 786910
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.
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Investment Insights
Based on property information with market context.
This 1,283-square-foot duplex contains two one-bedroom, one-bathroom apartments on a 0.039-acre lot. Built in 1878, the property has vinyl siding, baseboard heat, public water and sewer, a garage, and a fenced backyard. The upper apartment has had upgrades, includes a laundry hookup, and has additional space on the third floor.
The apartments are leased on a yearly basis. A city inspection has been paid for and is awaiting scheduling; any municipal repairs required are the buyer’s responsibility. The property is being sold as-is.
The apartments are leased on a yearly basis. A city inspection has been paid for and is awaiting scheduling; any municipal repairs required are the buyer’s responsibility. The property is being sold as-is.
Key Highlights
- Two apartments, each with 1 bedroom and 1 bathroom
- 1,283 square feet on a 0.039‑acre lot
- Garage and fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,458
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$269,160
$269.2K
Cap Rate 7%
$192,257
$192.3K
Cap Rate 9%
$149,533
$149.5K
Market Conditions
NOI Build-Up for 1,283 SF
Gross rent
$20.8K $16.20/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$19.2K $14.99/SF
− OpEx
−$5.8K −$4.50/SF
NOI
$13.5K $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 Rate 5%
$269,160
Cap Rate 7%
$192,257
Cap Rate 9%
$149,533
Alternative Uses
Best Use
Multifamily LT 5
$192.3K
$168.2K – $224.3K
NOI $13,458 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$169.1K
$148.0K – $197.3K
NOI $11,838 @ 7.0% cap · market cap 5.26%
Theoretical Best
Specialty Retail
$252.1K
$220.6K – $294.1K
NOI $17,644 @ 7.0% cap · market cap 7.84%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Who owns this building?
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,574
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Each apartment has one bedroom and one bathroom, with additional third-floor space in the upper unit.
Where is this duplex located?
The property is located at 623 N Lumber Street Allentown, PA.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: Two apartments, each with 1 bedroom and 1 bathroom; 1,283 square feet on a 0.039‑acre lot; Garage and fenced backyard
