Two-Unit Duplex with
New
For Sale
$185,000
219 Willow Avenue, Honesdale, PA 18431
Residential Income, Honesdale, PA
Property Size756 SF
Lot Size0.15 Acres
Price / SF$244.71
Days on Market6
Property Features for 219 Willow Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Basement, Bedroom 1
Parking features
On Street
Window features
Storm Window(s)
Patio and Porch features
Deck, Porch, Patio
Interior features
Eat-in Kitchen
Exterior features
Private Yard
Basement
Walk-Out Access, Sump Pump
Appliances
Electric Oven, Refrigerator, Gas Cooktop, Electric Water Heater, Electric Range
Elementary school district
Wayne Highlands
Middle school district
Wayne Highlands
High school district
Wayne Highlands
Directions
2minutes from the office heading toward route 6 plaza property is on the left side of the highway. just after Schwartz car dealership
Standard status
Active
APN
11-0-0012-0125
Size
756 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Annual Amount
2583
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1930
Floors in Building
3
Number of units
2
Flooring type
Wood, Carpet, Vinyl
Building materials
Asphalt, Stone, Masonite
Roof type
Asphalt
Architectural style
Other
Listing Agency:
RE/MAX WAYNE · RE/MAX International
(570) 253-9566
Listed By:
Stephen Langendoerfer · License #RS271198
(570) 470-2391
Added: Aug 28
Changed: Aug 31
Last Checked: Sep 2 at 10:06AM
MLS# PW-263004
Copyright © 2026 Pike/Wayne Association of Realtors MLS. 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 two efficiency apartment units within a 756-square-foot property on a 0.15-acre lot. Built in 1930, the property includes an eat-in kitchen, two bedrooms, two bathrooms, a basement, and private outdoor areas with a deck, porch, and patio. Interior finishes include wood, carpet, and vinyl flooring, while electric heating and wall or window cooling units serve the building.
The property is located on Route 6 in Honesdale, with shopping, parks, workout facilities, banks, and auto services described as nearby. Public water and public sewer serve the property, natural gas is available, and parking is provided on the street. Appliances include an electric oven, refrigerator, gas cooktop, electric water heater, and electric range.
The property is located on Route 6 in Honesdale, with shopping, parks, workout facilities, banks, and auto services described as nearby. Public water and public sewer serve the property, natural gas is available, and parking is provided on the street. Appliances include an electric oven, refrigerator, gas cooktop, electric water heater, and electric range.
Key Highlights
- Two efficiency apartment units
- 756 square feet on a 0.15‑acre lot
- Built in 1930 with 2 bedrooms, 2 bathrooms, and a basement
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
$8,224
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
4.45%
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%
$164,480
$164.5K
Cap Rate 7%
$117,486
$117.5K
Cap Rate 9%
$91,378
$91.4K
Market Conditions
NOI Build-Up for 756 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
$12.7K $16.80/SF
− Vacancy
−$953 −$1.26/SF
EGI
$11.7K $15.54/SF
− OpEx
−$3.5K −$4.66/SF
NOI
$8.2K $10.88/SF
Area
Wayne County, PA
Vacancy
7.50%
Lease Rate
$16.80 /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%
$164,480
Cap Rate 7%
$117,486
Cap Rate 9%
$91,378
Alternative Uses
Best Use
Multifamily LT 5
$117.5K
$102.8K – $137.1K
NOI $8,224 @ 7.0% cap · market cap 4.45%
Second Best
Apartment 5plus
$101.8K
$89.0K – $118.7K
NOI $7,123 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$184.3K
$161.3K – $215.1K
NOI $12,904 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 18431, PA
12,602
Population
6,217
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
90%
High-School Grad
134.8 sq mi
ZIP Area
93
Density / Sq Mi
$55,323
Median Household Income
$33,298
Median Earnings
$1,013
Median Rent
$222,000
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 efficiency apartments include private outdoor space, an eat-in kitchen, and convenient access to town amenities.
Where is this duplex located?
The property is located at 219 Willow Avenue Honesdale, PA.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: Two efficiency apartment units; 756 square feet on a 0.15‑acre lot; Built in 1930 with 2 bedrooms, 2 bathrooms, and a basement
