Brick Multifamily
For Sale
$194,900
745 S Delaware Street, Allentown, PA 18103
ResidentialIncome, Allentown City, PA
Property Size1,236 SF
Lot Size0.03 Acres
Price / SF$157.69
Days on Market10
Property Features for 745 S Delaware Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-MH
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 2
Parking features
On Street
Subdivision
Not in Development
Elementary school district
Allentown
Middle school district
Allentown
High school district
Allentown
Directions
Take 8th St.(bridge) into South Allentown. Turn left onto Harrison St. and right onto Delaware St.(allley). Property is on the left.
Standard status
Active
APN
640617904184-1
Size
1,236 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Annual Amount
2186
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
water purification system
laundry room
patio
front porch
Building Details
Year built
1920
Floors in Building
2
Number of units
1
Building materials
Brick
Listing Agency:
RE/MAX Real Estate · RE/MAX International
(610) 691-6100
Listed By:
Janice M. Benner · License #RS300336
(610) 393-9877
Added: Sep 1
Changed: Sep 2
Last Checked: Sep 10 at 7:06AM
MLS# 783735
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.
Investment Insights
Based on property information with market context.
This 1920 brick multifamily property offers 1,236 square feet on a 0.033-acre lot. The two-story layout includes open living and dining areas, an eat-in kitchen with stainless steel appliances, three bedrooms, and two full bathrooms. A partially finished basement adds a laundry room, storage, two finished areas, and egress to the backyard. Additional features include engineered flooring, crown molding, a covered front porch, small patio, natural gas baseboard heat, ceiling fans, and on-street parking.
The property is located at 745 Delaware Street in Allentown City, near shopping, transportation, hospitals, restaurants, and entertainment. Public water and public sewer serve the home, and the property is zoned R-MH. The property information reports an 8.9% cap rate.
The property is located at 745 Delaware Street in Allentown City, near shopping, transportation, hospitals, restaurants, and entertainment. Public water and public sewer serve the home, and the property is zoned R-MH. The property information reports an 8.9% cap rate.
Key Highlights
- 1,236‑square‑foot brick multifamily property built in 1920
- 0.033‑acre lot at 745 Delaware Street, Allentown City, PA 18103
- Three bedrooms and two full bathrooms
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
$11,404
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
5.85%
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%
$228,080
$228.1K
Cap Rate 7%
$162,914
$162.9K
Cap Rate 9%
$126,711
$126.7K
Market Conditions
NOI Build-Up for 1,236 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
$22.2K $18.00/SF
− Vacancy
−$1.5K −$1.22/SF
EGI
$20.7K $16.78/SF
− OpEx
−$9.3K −$7.55/SF
NOI
$11.4K $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%
$228,080
Cap Rate 7%
$162,914
Cap Rate 9%
$126,711
Alternative Uses
Best Use
Apartment 5plus
$162.9K
$142.6K – $190.1K
NOI $11,404 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$242.8K
$212.5K – $283.3K
NOI $16,997 @ 7.0% cap · market cap 8.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
1,452
Businesses Nearby
Explore this area
Business Placement
Demographics for 18103, PA
48,358
Population
19,769
Households
2.4
Avg Household Size
39
Median Age
28%
College-Educated
88%
High-School Grad
17.2 sq mi
ZIP Area
2,812
Density / Sq Mi
$72,545
Median Household Income
$38,377
Median Earnings
$1,333
Median Rent
$242,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Single family property - Two-story residence with an eat-in kitchen, covered porch, and partially finished basement.
Where is this single family property located?
The property is located at 745 S Delaware Street Allentown, PA.
What is the asking price?
The asking price for this property is $194,900.
What are key features of this property?
This property features: 1,236‑square‑foot brick multifamily property built in 1920; 0.033‑acre lot at 745 Delaware Street, Allentown City, PA 18103; Three bedrooms and two full bathrooms
