Detached Duplex with Three-Car
For Sale
$400,000
Pending
746 Center St, Bethlehem, PA 18018
Two-unit detached property with separate utility responsibility, off-street parking, and private outdoor space.
Property Size2,048 SF
Days on Market143
Property Features for 746 Center St
General Information
Standard status
Pending
Size
2,048 SF
Property subtype
Residential Income
Units
Unit Mix
first-floor unit: 2 bedrooms, second-floor unit: 2/3 bedrooms
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,811
Amenities
private backyard
covered side porch
private balcony
first-floor laundry
basement storage access
full walk up attic storage
Listing Agency:
IronValley RE of Lehigh Valley
(610) 737-7030
Listed By:
Jesse S. Moyer
(610) 737-7030
Source:
Exprealty
Added: Apr 12
Changed: Aug 31
Last Checked: Aug 31 at 5:55PM
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 IronValley RE of Lehigh Valley
Investment Insights
Based on property information with market context.
Located at 746 Center St in Bethlehem, this 2,048-square-foot detached duplex includes two residential units, a three-car garage, additional off-street parking, and a private backyard. The roof is approximately 10 years old, and the property has a clear certificate of occupancy from the City of Bethlehem.
The first-floor apartment has two bedrooms, tall ceilings, original pocket doors, a living room, kitchen, laundry, basement storage access, and a covered side porch. The upper unit includes two or three bedrooms, a living room, full bathroom, walk-up attic storage, and a private balcony. Tenants are responsible for their own gas and electric utilities. Shopping, dining, and major routes are nearby.
The first-floor apartment has two bedrooms, tall ceilings, original pocket doors, a living room, kitchen, laundry, basement storage access, and a covered side porch. The upper unit includes two or three bedrooms, a living room, full bathroom, walk-up attic storage, and a private balcony. Tenants are responsible for their own gas and electric utilities. Shopping, dining, and major routes are nearby.
Key Highlights
- 2,048‑square‑foot detached duplex with two residential units
- Three‑car garage plus additional off‑street parking
- First‑floor unit includes 2 bedrooms, laundry, basement storage access, and covered side porch
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
$13,698
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
3.42%
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%
$273,960
$274.0K
Cap Rate 7%
$195,686
$195.7K
Cap Rate 9%
$152,200
$152.2K
Market Conditions
NOI Build-Up for 2,048 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
$21.1K $10.32/SF
− Vacancy
−$1.6K −$0.76/SF
EGI
$19.6K $9.56/SF
− OpEx
−$5.9K −$2.87/SF
NOI
$13.7K $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%
$273,960
Cap Rate 7%
$195,686
Cap Rate 9%
$152,200
Alternative Uses
Best Use
Multifamily LT 5
$195.7K
$171.2K – $228.3K
NOI $13,698 @ 7.0% cap · market cap 3.42%
Second Best
Apartment 5plus
$170.9K
$149.6K – $199.4K
NOI $11,964 @ 7.0% cap · market cap 2.99%
Theoretical Best
Mixed Use
$301.2K
$263.5K – $351.4K
NOI $21,082 @ 7.0% cap · market cap 5.27%
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
2,159
Businesses Nearby
Explore this area
Business Placement
Demographics for 18018, PA
32,388
Population
14,669
Households
2.2
Avg Household Size
39
Median Age
37%
College-Educated
92%
High-School Grad
5.2 sq mi
ZIP Area
6,228
Density / Sq Mi
$71,968
Median Household Income
$43,471
Median Earnings
$1,261
Median Rent
$224,000
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 - Two-unit detached property with separate utility responsibility, off-street parking, and private outdoor space.
Where is this duplex located?
The property is located at 746 Center St Bethlehem, PA.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: 2,048‑square‑foot detached duplex with two residential units; Three‑car garage plus additional off‑street parking; First‑floor unit includes 2 bedrooms, laundry, basement storage access, and covered side porch
