Two-Unit Duplex With Detached
For Sale
$315,000
Pending
722 Cherokee St, Bethlehem, PA 18015
Separate house meters and recent system upgrades support the property’s two-apartment configuration.
Property Size2,560 SF
Days on Market15
Property Features for 722 Cherokee St
General Information
Standard status
Pending
Size
2,560 SF
Total Parking Spaces
1
Property subtype
Residential Income
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,482
Listing Agency:
BHHS Fox & Roach Bethlehem
(610) 533-6758
Listed By:
Kori A Andralis-Erceg
(610) 533-6758
Source:
Exprealty
Added: Jul 31
Changed: Aug 14
Last Checked: Aug 14 at 5:04AM
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 BHHS Fox & Roach Bethlehem
Investment Insights
Based on property information with market context.
This 2,560-square-foot duplex includes two apartments and a detached 1-car garage. Recent work includes chimney repairs and electrical upgrades with separate house meters. The first-floor apartment has a new dishwasher, microwave, and kitchen countertops, along with a new washer, dryer, and hot water heater in the basement. The second-floor apartment features new HVAC equipment and flooring.
The property is located near St. Luke's Hospital in Bethlehem, Pennsylvania. Municipal inspection repairs will be the buyer’s responsibility, except for the clear pest report and structural engineer letter provided by the seller.
The property is located near St. Luke's Hospital in Bethlehem, Pennsylvania. Municipal inspection repairs will be the buyer’s responsibility, except for the clear pest report and structural engineer letter provided by the seller.
Key Highlights
- 2,560‑square‑foot duplex with two apartments
- Detached 1‑car garage
- Chimney repairs and electrical upgrades completed, including separate house meters
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
$17,123
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
5.44%
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%
$342,460
$342.5K
Cap Rate 7%
$244,614
$244.6K
Cap Rate 9%
$190,256
$190.3K
Market Conditions
NOI Build-Up for 2,560 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
$26.4K $10.32/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$24.5K $9.56/SF
− OpEx
−$7.3K −$2.87/SF
NOI
$17.1K $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%
$342,460
Cap Rate 7%
$244,614
Cap Rate 9%
$190,256
Alternative Uses
Best Use
Multifamily LT 5
$244.6K
$214.0K – $285.4K
NOI $17,123 @ 7.0% cap · market cap 5.44%
Second Best
Apartment 5plus
$213.6K
$186.9K – $249.3K
NOI $14,955 @ 7.0% cap · market cap 4.75%
Theoretical Best
Mixed Use
$376.5K
$329.4K – $439.2K
NOI $26,352 @ 7.0% cap · market cap 8.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,101
Businesses Nearby
Explore this area
Business Placement
Demographics for 18015, PA
33,286
Population
12,867
Households
2.6
Avg Household Size
32
Median Age
31%
College-Educated
87%
High-School Grad
23.2 sq mi
ZIP Area
1,435
Density / Sq Mi
$58,470
Median Household Income
$32,703
Median Earnings
$1,310
Median Rent
$243,100
Median Home Value
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 - Separate house meters and recent system upgrades support the property’s two-apartment configuration.
Where is this duplex located?
The property is located at 722 Cherokee St Bethlehem, PA.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 2,560‑square‑foot duplex with two apartments; Detached 1‑car garage; Chimney repairs and electrical upgrades completed, including separate house meters
