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    40 S Hancock Street Wilkes Barre, PA 18702

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    For Sale
    $1,200,000

    MULTI_FAMILY - Wilkes-Barre, PA

    Property size:
    10,400 SF
    Lot size:
    0.56 Acres
    Price / SF:
    $115/SF
    Added:
    May 7, 2026
    Days on Market:
    2
    Last Refresh:
    May 8 at 4:06 am

    Property Features for 40 S Hancock Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    MF
    Bedrooms
    24
    Bathrooms
    40
    Rooms
    Bathroom 40, Bedroom 10, Bedroom 5, Bathroom 8, Bathroom 17, Bedroom 20, Bedroom 9, Bathroom 31, Bathroom 16, Bathroom 35, Bedroom 19, Bathroom 6, Bathroom 15, Bedroom 11, Bedroom 24, Bathroom 2, Bedroom 4, Bathroom 3, Bathroom 27, Bathroom 28, Bathroom 10, Bathroom 20, Bedroom 3, Bedroom 14, Bedroom 16, Bedroom 22, Bathroom 24, Bathroom 1, Bathroom 36, Bathroom 19, Bathroom 30, Bathroom 21, Bathroom 18, Bedroom 23, Bedroom 17, Bathroom 33, Bathroom 22, Bathroom 38, Bathroom 13, Bathroom 7, Bathroom 9, Bedroom 21, Bathroom 29, Bathroom 4, Bathroom 12, Bedroom 12, Bedroom 15, Bathroom 5, Bathroom 32, Bathroom 14, Bedroom 8, Bathroom 25, Bathroom 39, Bathroom 34, Bathroom 26, Bedroom 1, Bedroom 6, Bedroom 18, Bedroom 2, Bathroom 11, Bathroom 37, Bathroom 23, Bedroom 7, Bedroom 13
    Exterior features
    Balcony
    Appliances
    Electric Water Heater
    Standard status
    Active
    APN
    73-H10SW4-024-003
    Size
    10,400 SF
    Lot size
    0.56 Acres

    Taxes and HOA fees

    Tax Year
    2026

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Cooling system
    Wall Unit(s)
    Water source
    Public

    Building Details

    Year built
    1970
    Floors in Building
    2
    Number of units
    8
    Building materials
    Brick, Vinyl Siding, Wood Siding

    We can help!

    Listing Contact
    Jacob W. Rosenstein

    Listing agent Jacob W. Rosenstein License #RS369738

    Listing office ERA One Source Realty 230 Northern Blvd., Clarks Summit, PA

    Listing date May 7, 2026

    MLS# SC262055 Listing URL

    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.

    HighLights

    • Eight‑unit townhouse portfolio.
    • All units are 3 bed/2 bath.
    • Individually metered for all utilities.
    • Currently tenant‑occupied.
    • Townhouse‑style layout with private entrances and garage parking.
    • Strong occupancy history in an established Luzerne County rental neighborhood.

    Overview

    Eight-Unit Townhouse Portfolio

    This is an eight-unit townhouse portfolio situated across four parcels in Wilkes-Barre, Pennsylvania. The units, located on S. Hancock Street and Garnet Lane, are under common ownership. Each unit features a townhouse-style layout with private entrances and garage parking. All units are configured with 3 bedrooms and 2 bathrooms. Each unit is individually metered for all utilities. The property has a strong occupancy history within an established Luzerne County rental neighborhood. The total property size is 10400 square feet on a 0.56-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wilkes Barre
    County
    Luzerne
    State
    Pennsylvania
    Longitude
    -75.877229
    Latitude
    41.239373

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    FAQs

    What type of property is this?
    Apartment building - Tenant-occupied, townhouse-style units with private entrances and garage parking.
    Where is this apartment building located?
    The property is located at 40 S Hancock Street Wilkes Barre, PA.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Eight‑unit townhouse portfolio.; All units are **3 bed/2 bath**.; Individually metered for all utilities.
    (570) 955-7338
    We can help!
    Listing Contact
    Jacob W. Rosenstein
    Real Estate License ID: RS369738
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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