15-Unit Apartment
For Sale
$1,999,999
306 Merwinsburg Road, Effort, PA 18330
Residential Income, Effort, PA
Property Size14,672 SF
Lot Size21.16 Acres
Price / SF$136.31
Days on Market231
Property Features for 306 Merwinsburg Road
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Agricultural
Bedrooms
16
Full bathrooms
12
Rooms
Bedroom 7, Bedroom 9, Bathroom 9, Bedroom 10, Bedroom 3, Bedroom 4, Bathroom 5, Bedroom 14, Bedroom 5, Bedroom 12, Bathroom 7, Bedroom 6, Bedroom 8, Bathroom 10, Bathroom 11, Bedroom 1, Bedroom 11, Bathroom 8, Bedroom 15, Bathroom 4, Bedroom 16, Bathroom 3, Bathroom 6, Bedroom 13, Bathroom 2, Bathroom 12, Basement, Bedroom 2, Bathroom 1
Patio and Porch features
Deck, Patio, Porch
Basement
Unfinished, Exterior Entry, Walk-Out Access
Lot features
Level, Sloped, Agricultural, Cleared, Wooded, Paved
Elementary school district
Pleasant Valley
Middle school district
Pleasant Valley
High school district
Pleasant Valley
Subdivision
Chestnuthill Township
Standard status
Active
APN
02.13.1.31
Size
14,672 SF
Lot size
21.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Lot 1
Tax Annual Amount
18363
Legal Description
Lot 1
Utilities
Sewer type
Perc Test On File, Septic Tank
Heating system
Baseboard, Electric (Heating)
Water source
Well
Water front
1
Amenities
pond
manicured grounds
Building Details
Year built
1902
Floors in Building
2
Number of units
10
Flooring type
Laminate, Vinyl, Tile, Carpet
Building materials
Aluminum Siding, Vinyl Siding
Roof type
Asphalt, Shingle, Fiberglass
Listing Agency:
Keller Williams Real Estate - Stroudsburg 637 Main · Keller Williams Realty
Listed By:
Bob Kelly
(570) 213-4884
Added: Jan 31
Changed: Sep 15
Last Checked: Sep 19 at 10:06PM
MLS# PM-138595
Copyright © 2026 Pocono Mountains 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 15-unit residential income property includes 14,672 square feet on 21.16 acres and is currently occupied by long-term tenants. Approximately 75% of the units have been remodeled, while the largest building remains available for renovation. Existing layouts include cabin-style, traditional apartment, studio, and home configurations. The property was originally constructed in 1902 and includes decks, porches, patios, parking, and a pond surrounded by landscaped grounds.
The property is located at 306 Merwinsburg Road in Effort, Pennsylvania, with access to Lake Harmony, Big Boulder, Jack Frost, Camelback, Kalahari, Great Wolf Lodge, Aquatopia, Pocono Raceway, Pocono Premium Outlets, Mount Airy Casino, and Beltzville Lake. General Commercial zoning is in place, with future uses subject to applicable zoning requirements and approvals. Water is supplied by a well, and wastewater service is provided through a septic tank.
The property is located at 306 Merwinsburg Road in Effort, Pennsylvania, with access to Lake Harmony, Big Boulder, Jack Frost, Camelback, Kalahari, Great Wolf Lodge, Aquatopia, Pocono Raceway, Pocono Premium Outlets, Mount Airy Casino, and Beltzville Lake. General Commercial zoning is in place, with future uses subject to applicable zoning requirements and approvals. Water is supplied by a well, and wastewater service is provided through a septic tank.
Key Highlights
- 15‑unit income property with long‑term tenants in place
- 14,672 square feet on 21.16 acres
- Approximately 75% of units recently remodeled
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
$131,486
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
6.57%
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%
$2,629,720
$2.6M
Cap Rate 7%
$1,878,371
$1.9M
Cap Rate 9%
$1,460,956
$1.5M
Market Conditions
NOI Build-Up for 14,672 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
$248.3K $16.92/SF
− Vacancy
−$9.2K −$0.63/SF
EGI
$239.1K $16.29/SF
− OpEx
−$107.6K −$7.33/SF
NOI
$131.5K $8.96/SF
Area
Monroe County, PA
Vacancy
3.70%
Lease Rate
$16.92 /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%
$2,629,720
Cap Rate 7%
$1,878,371
Cap Rate 9%
$1,460,956
Alternative Uses
Best Use
Apartment 5plus
$1.88M
$1.64M – $2.19M
NOI $131,486 @ 7.0% cap · market cap 6.57%
Second Best
Hotel Hospitality
$1.61M
$1.41M – $1.88M
NOI $112,901 @ 7.0% cap · market cap 5.65%
Theoretical Best
Office A
$4.39M
$3.84M – $5.12M
NOI $307,408 @ 7.0% cap · market cap 15.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 18330, PA
8,351
Population
3,196
Households
2.6
Avg Household Size
42
Median Age
23%
College-Educated
94%
High-School Grad
14.5 sq mi
ZIP Area
576
Density / Sq Mi
$92,907
Median Household Income
$41,313
Median Earnings
$1,809
Median Rent
$251,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Income-producing apartment property with General Commercial zoning and multiple existing residential layouts.
Where is this apartment building located?
The property is located at 306 Merwinsburg Road Effort, PA.
What is the asking price?
The asking price for this property is $1,999,999.
What are key features of this property?
This property features: 15‑unit income property with long‑term tenants in place; 14,672 square feet on 21.16 acres; Approximately 75% of units recently remodeled
