Two-Unit Duplex with Off-Street
For Sale
$205,000
38 W Columbus Avenue, Pittston, PA 18640
Residential Income, Pittston, PA
Property Size1,550 SF
Lot Size0.05 Acres
Price / SF$132.26
Days on Market48
Property Features for 38 W Columbus Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Basement, Bathroom 1, Bedroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Parking
1
Parking features
Off Street
Patio and Porch features
Porch
Basement
Unfinished, Interior Entry, Dirt Floor
Appliances
Electric Range, Refrigerator
Lot features
Corner Lot, Not In Development
Elementary school district
Pittston Area
Middle school district
Pittston Area
High school district
Pittston Area
Directions
From Scranton, take I-81S to exit 175B. Turn right on Oak Street and follow down to S. Township Blvd. Turn left on S. Township Blvd and then right onto Bypass Access Road. Follow to Tedrick Street and turn right. Turn left on E. Columbus Ave and follow down to Main Street. Turn left on Main Street and then right on W. Oak Street. Turn right on High Street. Home is on the corner of W. Columbus Ave.
Standard status
Active
APN
72-E11SE1-027-003
Size
1,550 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
2136
Utilities
Sewer type
Public Sewer
Heating system
Steam, Baseboard, Natural Gas, Electric (Heating)
Water source
Public
Amenities
washer/dryer hookup
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Roof type
Shingle, Composition
Listing Agency:
C21 Jack Ruddy Real Estate · Century 21 Real Estate
(570) 344-6724
Listed By:
James Caceres
(570) 352-7106
Added: Jul 27
Changed: Sep 12
Last Checked: Sep 12 at 5:06PM
MLS# SC263680
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 R2-zoned duplex contains 1,550 square feet arranged as two separate apartments. The first-floor residence offers three bedrooms, one bathroom, two porches, a kitchen with washer and dryer hookups, and interior access to the basement. The second-floor apartment includes one bedroom and one bathroom. Electric baseboard and steam heating are present, with natural gas also serving the property. Additional features include vinyl flooring, electric range, refrigerator, composition and shingle roofing, public water, and public sewer.
The property occupies a 0.05-acre corner lot in Pittston, Pennsylvania, with off-street parking. One unit is tenant occupied, while the other requires some TLC. Built in 1930, the duplex provides a two-unit residential income configuration with existing porch and basement features.
The property occupies a 0.05-acre corner lot in Pittston, Pennsylvania, with off-street parking. One unit is tenant occupied, while the other requires some TLC. Built in 1930, the duplex provides a two-unit residential income configuration with existing porch and basement features.
Key Highlights
- Two‑unit duplex with 1,550 square feet of residential space
- First‑floor unit has 3 bedrooms, 1 bathroom, 2 porches, and basement access
- Second‑floor apartment includes 1 bedroom and 1 bathroom
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
$12,509
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
6.10%
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%
$250,180
$250.2K
Cap Rate 7%
$178,700
$178.7K
Cap Rate 9%
$138,989
$139.0K
Market Conditions
NOI Build-Up for 1,550 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
$19.5K $12.60/SF
− Vacancy
−$1.7K −$1.07/SF
EGI
$17.9K $11.53/SF
− OpEx
−$5.4K −$3.46/SF
NOI
$12.5K $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%
$250,180
Cap Rate 7%
$178,700
Cap Rate 9%
$138,989
Alternative Uses
Best Use
Multifamily LT 5
$178.7K
$156.4K – $208.5K
NOI $12,509 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$165.7K
$145.0K – $193.4K
NOI $11,601 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$491.0K
$429.7K – $572.9K
NOI $34,373 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
50%
Occupancy
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 18640, PA
16,351
Population
8,036
Households
2
Avg Household Size
46
Median Age
25%
College-Educated
94%
High-School Grad
27.9 sq mi
ZIP Area
586
Density / Sq Mi
$57,358
Median Household Income
$39,733
Median Earnings
$890
Median Rent
$135,200
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
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Frequently Asked Questions
What type of property is this?
Duplex - R2-zoned duplex with separate apartments, porches, basement access, and one unit currently occupied.
Where is this duplex located?
The property is located at 38 W Columbus Avenue Pittston, PA.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,550 square feet of residential space; First‑floor unit has 3 bedrooms, 1 bathroom, 2 porches, and basement access; Second‑floor apartment includes 1 bedroom and 1 bathroom
