Tenant-Occupied
For Sale
$439,000
820 New Street, Bethlehem, PA 18018
Two residential units with zoning for 2-4 units and dedicated parking support an income-producing configuration.
Property Size1,872 SF
Days on Market52
Property Features for 820 New Street
General Information
Standard status
Active
Size
1,872 SF
Total Parking Spaces
6
Property subtype
Apartment
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,633
Building Details
Building Size
1,872 SF
Year Built
1900
Tenancy
Multi
Listing Agency:
Main St. Real Estate Group
(610) 533-1231
Listed By:
Lucy H. Lennon
Source:
Bhhspaulfordrealtors
Added: Jun 22
Changed: Aug 11
Last Checked: Aug 11 at 8:26AM
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 Main St. Real Estate Group
Investment Insights
Based on property information with market context.
This duplex contains two residential units and was built in 1900. Both units are occupied by long-term tenants, providing an existing rental configuration for a purchaser. The property includes six dedicated parking spaces, an important practical feature for a two-unit building.
Located in Historic Downtown Bethlehem, the property is within walking distance of local attractions and amenities. Zoning permits 2-4 units, allowing the existing duplex configuration to be evaluated alongside potential expansion options supported by the site’s zoning.
Located in Historic Downtown Bethlehem, the property is within walking distance of local attractions and amenities. Zoning permits 2-4 units, allowing the existing duplex configuration to be evaluated alongside potential expansion options supported by the site’s zoning.
Key Highlights
- Two‑unit duplex built in 1900
- Both units occupied by long‑term tenants
- Six dedicated parking spots
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
$12,521
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
2.85%
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%
$250,420
$250.4K
Cap Rate 7%
$178,871
$178.9K
Cap Rate 9%
$139,122
$139.1K
Market Conditions
NOI Build-Up for 1,872 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
$19.3K $10.32/SF
− Vacancy
−$1.4K −$0.76/SF
EGI
$17.9K $9.56/SF
− OpEx
−$5.4K −$2.87/SF
NOI
$12.5K $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%
$250,420
Cap Rate 7%
$178,871
Cap Rate 9%
$139,122
Alternative Uses
Best Use
Multifamily LT 5
$178.9K
$156.5K – $208.7K
NOI $12,521 @ 7.0% cap · market cap 2.85%
Second Best
Apartment 5plus
$156.2K
$136.7K – $182.3K
NOI $10,936 @ 7.0% cap · market cap 2.49%
Theoretical Best
Mixed Use
$275.3K
$240.9K – $321.2K
NOI $19,270 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
331
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 residential units with zoning for 2-4 units and dedicated parking support an income-producing configuration.
Where is this duplex located?
The property is located at 820 New Street Bethlehem, PA.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: Two‑unit duplex built in 1900; Both units occupied by long‑term tenants; Six dedicated parking spots
