Updated Four-Unit
For Sale
$619,900
662 Main Street, Slatington, PA 18080
Well-maintained income property with renovated kitchens, bathrooms, and LVP flooring, plus a daycare occupant on the first floor.
Property Size5,614 SF
Days on Market53
Property Features for 662 Main Street
General Information
Standard status
Active
Size
5,614 SF
Property subtype
Apartment
Net Operating Income
$63,542
Financials
Cap Rate
9.77%
Gross Income
$78,600
Additional Details
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$7,208
Building Details
Building Size
5,614 SF
Year Built
1900
Listing Agency:
RE/MAX Real Estate
Listed By:
Bob Susko Jr.
(610) 770-9000
Source:
Bhhspaulfordrealtors
Added: Jul 29
Changed: Sep 9
Last Checked: Sep 18 at 11:00AM
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 RE/MAX Real Estate
Investment Insights
Based on property information with market context.
This four-unit residential income property dates to 1900 and has received substantial updates, including a newer roof, refreshed kitchens and bathrooms, and LVP flooring across most of the building. A daycare occupies the first floor, while the property maintains an income-producing configuration with a 9.77% cap rate.
Off-street parking serves the building, with additional free public parking nearby for tenants and visitors. The property is positioned in downtown Slatington Boro at 662 Main Street, within walking distance of restaurants, shops, and everyday conveniences. Further operational possibilities identified for the property include adding on-site laundry, developing storage income, and expanding existing units, subject to feasibility and applicable approvals.
Off-street parking serves the building, with additional free public parking nearby for tenants and visitors. The property is positioned in downtown Slatington Boro at 662 Main Street, within walking distance of restaurants, shops, and everyday conveniences. Further operational possibilities identified for the property include adding on-site laundry, developing storage income, and expanding existing units, subject to feasibility and applicable approvals.
Key Highlights
- Four‑unit residential income property built in 1900
- 9.77% cap rate
- Updated roof, kitchens, bathrooms, and LVP flooring
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
$37,550
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
6.06%
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%
$751,000
$751.0K
Cap Rate 7%
$536,429
$536.4K
Cap Rate 9%
$417,222
$417.2K
Market Conditions
NOI Build-Up for 5,614 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
$57.9K $10.32/SF
− Vacancy
−$4.3K −$0.76/SF
EGI
$53.6K $9.56/SF
− OpEx
−$16.1K −$2.87/SF
NOI
$37.6K $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%
$751,000
Cap Rate 7%
$536,429
Cap Rate 9%
$417,222
Alternative Uses
Best Use
Mixed Use
$825.6K
$722.4K – $963.2K
NOI $57,789 @ 7.0% cap · market cap 9.32%
Second Best
Multifamily LT 5
$536.4K
$469.4K – $625.8K
NOI $37,550 @ 7.0% cap · market cap 6.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
274
Businesses Nearby
Explore this area
Business Placement
Demographics for 18080, PA
11,454
Population
4,947
Households
2.3
Avg Household Size
45
Median Age
20%
College-Educated
91%
High-School Grad
30.2 sq mi
ZIP Area
379
Density / Sq Mi
$73,947
Median Household Income
$47,723
Median Earnings
$808
Median Rent
$254,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained income property with renovated kitchens, bathrooms, and LVP flooring, plus a daycare occupant on the first floor.
Where is this quadplex located?
The property is located at 662 Main Street Slatington, PA.
What is the asking price?
The asking price for this property is $619,900.
What are key features of this property?
This property features: Four‑unit residential income property built in 1900; 9.77% cap rate; Updated roof, kitchens, bathrooms, and LVP flooring
