Duplex with Rental
For Sale
$319,000
1213 Hazel Street, Harveys Lake, PA 18618
Multi-Family, Harveys Lake, PA
Property Size1,900 SF
Lot Size0.16 Acres
Price / SF$167.89
Days on Market46
Property Features for 1213 Hazel Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Residential
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 5, Basement, Bathroom 1, Bathroom 2, Bedroom 3, Bedroom 1, Bedroom 2
Exterior features
Vinyl
Basement
Full, Concrete
Elementary school district
Lake Lehman
Middle school district
Lake Lehman
High school district
Lake Lehman
Directions
right on Lakeside drive from The Grotto. Make a right on Carpenter Rd and a left on Hazel Street. The house is on the right
Subdivision
Back Mountain
Standard status
Active
APN
74-D6S3-002-009
Size
1,900 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
1801
Utilities
Heating system
Baseboard, Electric (Heating)
Water source
Well
Building Details
Roof type
Shingle
Listing Agency:
Keller Williams Real Estate, Kingston · Keller Williams Realty
(570) 585-5800
Listed By:
Michael Nastasiak · License #RS362481
(570) 406-0572
Added: Jul 24
Changed: Sep 5
Last Checked: Sep 7 at 8:06PM
MLS# 26-3651
Copyright © 2026 Luzerne County Association of 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 duplex contains 1,900 square feet on a 0.155-acre lot, with five bedrooms, two bathrooms, and a basement. The rear unit is rented, providing current rental income. Interior heating is supplied by electric baseboard systems, while the property has vinyl exterior siding, a shingle roof, and well water.
Located in Harveys Lake, the property offers access to boating, fishing, dining, and year-round recreation in the surrounding area. Residential zoning supports its existing residential use.
Located in Harveys Lake, the property offers access to boating, fishing, dining, and year-round recreation in the surrounding area. Residential zoning supports its existing residential use.
Key Highlights
- Duplex with 1,900 square feet of property size
- 0.155‑acre lot in Harveys Lake
- Five bedrooms and two 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
$15,334
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
4.81%
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%
$306,680
$306.7K
Cap Rate 7%
$219,057
$219.1K
Cap Rate 9%
$170,378
$170.4K
Market Conditions
NOI Build-Up for 1,900 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 $12.60/SF
− Vacancy
−$2.0K −$1.07/SF
EGI
$21.9K $11.53/SF
− OpEx
−$6.6K −$3.46/SF
NOI
$15.3K $8.07/SF
Area
Luzerne County, PA
Vacancy
8.50%
Lease Rate
$12.60 /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%
$306,680
Cap Rate 7%
$219,057
Cap Rate 9%
$170,378
Alternative Uses
Best Use
Multifamily LT 5
$219.1K
$191.7K – $255.6K
NOI $15,334 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$203.2K
$177.8K – $237.0K
NOI $14,221 @ 7.0% cap · market cap 4.46%
Theoretical Best
Office A
$601.9K
$526.7K – $702.2K
NOI $42,134 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
57
Businesses Nearby
Explore this area
Business Placement
Demographics for 18618, PA
3,732
Population
2,087
Households
1.8
Avg Household Size
49
Median Age
38%
College-Educated
96%
High-School Grad
21.2 sq mi
ZIP Area
176
Density / Sq Mi
$73,561
Median Household Income
$43,941
Median Earnings
$1,446
Median Rent
$236,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit residential property with a leased rear unit and well-based water service.
Where is this duplex located?
The property is located at 1213 Hazel Street Harveys Lake, PA.
What is the asking price?
The asking price for this property is $319,000.
What are key features of this property?
This property features: Duplex with 1,900 square feet of property size; 0.155‑acre lot in Harveys Lake; Five bedrooms and two bathrooms
