Renovated Turnkey
1-2 Loomis Park Road Wilkes Barre, PA 18706
1-2 Loomis Park Road, Wilkes Barre, PA, 18706
$279,000
For Sale
$279,000
Recently renovated duplex with two spacious units and tenant-paid utilities on a 0.34-acre lot.
Property Size2,880 SF
Lot Size0.34 Acres
Price / SF$96.88
Days on Market175
Property Features for 1-2 Loomis Park Road
General Information
- Standard status
- Active
- Size
- 2,880 SF
- Lot size
- 0.34 Acres
- Property subtype
- Multi-Family / Fee Simple
Building Details
- Year Built
- 1950
Listing agency
RE/MAX Preferred - Cherry Hill
(570) 351-5242
Listed by
Alexander Schwartz · License #RS354220
(570) 351-5242
Source
Compass
Added: Jan 29 Updated: Jul 22 at 1:57PM Checked: Jul 22 at 1:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Preferred - Cherry Hill
Investment Insights
Based on property information with market context.
This recently renovated, turnkey duplex offers two separate residential units on a single lot. Each unit is described as spacious, with one unit configured as 3 bedrooms and 1 bathroom and the other configured as 3 bedrooms and 1.5 bathrooms. The property is presented as solid brick construction.
The duplex is located at 1-2 Loomis Park Road in Wilkes-Barre, Pennsylvania, within Luzerne County. The listing information references the Hanover Township area (MLS area 13725) and the Hanover Area School District.
According to the provided remarks, tenants pay all utilities, which can simplify ongoing operating responsibilities for the owner.
The duplex is located at 1-2 Loomis Park Road in Wilkes-Barre, Pennsylvania, within Luzerne County. The listing information references the Hanover Township area (MLS area 13725) and the Hanover Area School District.
According to the provided remarks, tenants pay all utilities, which can simplify ongoing operating responsibilities for the owner.
Key Highlights
- Recently renovated duplex built in 1950 on a 0.34‑acre lot
- Two spacious units: each has 3 bedrooms (1 bath in one unit; 1.5 bath in the other)
- $2,700/month rent income; tenants pay all utilities
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $36.3k | $12.60 |
| − Vacancy | −$3.1k | −$1.07 |
| EGI | $33.2k | $11.53 |
| − OpEx | −$10.0k | −$3.46 |
| NOI | $23.2k | $8.07 |
2,880 SF · lease $12.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$332.0K
$290.5K – $387.4K
NOI $23,242 @ 7.0% cap · market cap 8.33%
Second Best
Apartment 5plus
$307.9K
$269.5K – $359.3K
NOI $21,556 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$912.4K
$798.3K – $1.06M
NOI $63,867 @ 7.0% cap · market cap 22.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Recently renovated duplex with two spacious units and tenant-paid utilities on a 0.34-acre lot.
Where is this duplex located?
The property is located at 1-2 Loomis Park Road Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Recently renovated duplex built in 1950 on a 0.34‑acre lot; Two spacious units: each has 3 bedrooms (1 bath in one unit; 1.5 bath in the other); $2,700/month rent income; tenants pay all utilities
