Two-Family Ranch
For Sale
$329,000
309 Columbia Avenue, Clarks Summit, PA 18411
Residential Income, Clarks Summit, PA
Property Size2,620 SF
Lot Size0.34 Acres
Price / SF$125.57
Days on Market12
Property Features for 309 Columbia Avenue
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Zoning
R2
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 6, Bathroom 1, Bathroom 2
Parking features
Off Street
Patio and Porch features
Deck
Basement
Walk-Out Access, Finished
Lot features
Interior Lot
Elementary school district
Abington Heights
Middle school district
Abington Heights
High school district
Abington Heights
Directions
State Street, turn up Clark St, then first left onto Columbia Ave, property on left (Sign)
Standard status
Active
APN
0901501004000
Size
2,620 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
100X150 Highland Park L 229 & 230 W-01 B-025 L-009
Tax Annual Amount
3782
Legal Description
100X150 Highland Park L 229 & 230 W-01 B-025 L-009
Utilities
Sewer type
Public Sewer
Heating system
Baseboard, Electric (Heating)
Water source
Public
Amenities
off-street parking
semi private yard
Building Details
Year built
1980
Floors in Building
1
Number of units
2
Flooring type
Vinyl, Carpet
Roof type
Shingle
Architectural style
Ranch
Listing Agency:
NASSER REAL ESTATE, INC.
(570) 342-4115
Listed By:
Jim Nasser · License #AB065869
(570) 309-8799
Added: Aug 25
Changed: Sep 4
Last Checked: Sep 5 at 2:06AM
MLS# SC264206
Copyright © 2026 Greater Scranton Board 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 two-family ranch property offers 2,620 square feet of finished space with flexible layouts of two or three bedrooms per unit. Built in 1980, the home includes vinyl and carpet flooring, baseboard and electric heating, a basement, two bathrooms, and a deck. A shingle roof and public water and sewer complete the core improvements.
Set on 0.34 acres at 309 Columbia Avenue in Clarks Summit, the property provides paved off-street parking and a semi-private yard. R2 zoning supports its residential configuration, while the two-unit layout accommodates separate household arrangements within one building.
Set on 0.34 acres at 309 Columbia Avenue in Clarks Summit, the property provides paved off-street parking and a semi-private yard. R2 zoning supports its residential configuration, while the two-unit layout accommodates separate household arrangements within one building.
Key Highlights
- Two‑family property with 2,620 square feet of space
- Each unit offers a two- or three‑bedroom layout
- Built in 1980 with ranch architectural style
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
$21,606
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%
$432,120
$432.1K
Cap Rate 7%
$308,657
$308.7K
Cap Rate 9%
$240,067
$240.1K
Market Conditions
NOI Build-Up for 2,620 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
$33.0K $12.60/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$30.9K $11.78/SF
− OpEx
−$9.3K −$3.53/SF
NOI
$21.6K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
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%
$432,120
Cap Rate 7%
$308,657
Cap Rate 9%
$240,067
Alternative Uses
Best Use
Multifamily LT 5
$308.7K
$270.1K – $360.1K
NOI $21,606 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$288.5K
$252.5K – $336.6K
NOI $20,198 @ 7.0% cap · market cap 6.14%
Theoretical Best
Office A
$665.0K
$581.9K – $775.8K
NOI $46,550 @ 7.0% cap · market cap 14.15%
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
720
Businesses Nearby
Explore this area
Business Placement
Demographics for 18411, PA
22,851
Population
9,375
Households
2.4
Avg Household Size
45
Median Age
51%
College-Educated
96%
High-School Grad
55.4 sq mi
ZIP Area
412
Density / Sq Mi
$96,471
Median Household Income
$51,224
Median Earnings
$1,253
Median Rent
$274,200
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 - Ranch-style duplex with flexible bedroom layouts, paved off-street parking, and a semi-private yard.
Where is this duplex located?
The property is located at 309 Columbia Avenue Clarks Summit, PA.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: Two‑family property with 2,620 square feet of space; Each unit offers a two- or three‑bedroom layout; Built in 1980 with ranch architectural style
