Multifamily Property with Detached
For Sale
$200,000
736 North Lumber Street, Allentown, PA 18102
Occupied four-bedroom residence with a separate garage, substantial yard, and tenant-paid utilities.
Property Size1,330 SF
Price / SF$150.38
Days on Market238
Property Features for 736 North Lumber Street
General Information
Standard status
Active
Size
1,330 SF
Total Parking Spaces
1
Property subtype
Multi-Family / Fee Simple
Zoning
R-MH
Net Operating Income
$19,751
Units
Unit Mix
1 x 4BR/1BA
Multifamily Units
1
Additional Details
Gross Income
$23,040
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$2,094
Amenities
garage
large yard
No
2+ Access Exits
No Pool
Above Grade, Below Grade
Building Details
Year Built
1890
Construction
semi-detached
Tenancy
Multi
Listing Agency:
eXp Commercial
Listed By:
james J Reardon · License #RS342638
(484) 866-2495
Source:
Compass
Added: Jan 15
Changed: Sep 2
Last Checked: Aug 30 at 2:05PM
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 eXp Commercial
Investment Insights
Based on property information with market context.
This multifamily property at 736 North Lumber Street includes a semi-detached residential unit, a detached garage, and a large yard. The above-grade area measures approximately 1,330 square feet, with four bedrooms and one bathroom. The main residence is occupied, while the garage is leased separately, providing two distinct income sources. The property was built in 1890 and is zoned R-MH.
The residence lease runs through 5/31/2026, and the garage is leased month-to-month. Tenants pay all utilities, while landlord expenses include taxes, insurance, and maintenance. Bus service is located less than 1 mile away, and the airport is less than 10 miles from the property. The asset is within the Allentown School District and the Allentown City MLS area.
The residence lease runs through 5/31/2026, and the garage is leased month-to-month. Tenants pay all utilities, while landlord expenses include taxes, insurance, and maintenance. Bus service is located less than 1 mile away, and the airport is less than 10 miles from the property. The asset is within the Allentown School District and the Allentown City MLS area.
Key Highlights
- Approximately 1,330 sq ft above grade
- Four‑bedroom, one‑bath residential unit
- Detached garage leased separately from the main residence
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
$12,272
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
6.14%
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%
$245,440
$245.4K
Cap Rate 7%
$175,314
$175.3K
Cap Rate 9%
$136,356
$136.4K
Market Conditions
NOI Build-Up for 1,330 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
$23.9K $18.00/SF
− Vacancy
−$1.6K −$1.22/SF
EGI
$22.3K $16.78/SF
− OpEx
−$10.0K −$7.55/SF
NOI
$12.3K $9.23/SF
Area
Allentown, PA
Vacancy
6.80%
Lease Rate
$18.00 /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%
$245,440
Cap Rate 7%
$175,314
Cap Rate 9%
$136,356
Alternative Uses
Best Use
Apartment 5plus
$175.3K
$153.4K – $204.5K
NOI $12,272 @ 7.0% cap · market cap 6.14%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$261.3K
$228.6K – $304.8K
NOI $18,290 @ 7.0% cap · market cap 9.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,964
Businesses Nearby
Explore this area
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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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?
Multifamily property - Occupied four-bedroom residence with a separate garage, substantial yard, and tenant-paid utilities.
Where is this multifamily property located?
The property is located at 736 North Lumber Street Allentown, PA.
What is the asking price?
The asking price for this property is $200,000.
What are key features of this property?
This property features: Approximately 1,330 sq ft above grade; Four‑bedroom, one‑bath residential unit; Detached garage leased separately from the main residence
