Two-Unit Duplex with
For Sale
$239,000
Pending
108 3rd St, Blakely, PA 18447
Occupied income property with flexible lease terms, individual residential layouts, and laundry access for both households.
Property Size1,750 SF
Days on Market352
Property Features for 108 3rd St
General Information
Standard status
Pending
Size
1,750 SF
Total Parking Spaces
1
Property subtype
Residential Income
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Average Monthly Rent
$687.50
Taxes and HOA fees
Annual Taxes
$1,782
Amenities
laundry
backyard
Building Details
Tenancy
Multi
Listing Agency:
Dwell Real Estate C.S. Branch Office
(570) 871-0780
Listed By:
Rita Doria
(570) 916-1510
Source:
Exprealty
Added: Sep 16, 2025
Changed: Aug 30
Last Checked: Aug 31 at 7:12PM
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 Dwell Real Estate C.S. Branch Office
Investment Insights
Based on property information with market context.
This 1,750-square-foot duplex contains two residential units, each with a living room, kitchen, two bedrooms, and one full bathroom. The first-floor unit includes laundry, while the upstairs household has access to laundry facilities in the basement. Exterior features include a backyard, a one-car garage, and a newer roof.
Both units are currently occupied. The first-floor tenancy is month-to-month, and the second-floor unit is subject to a six-month lease that began February 1, 2026. Tenants pay heat and electric; the landlord pays water and sewer. The property is located in Blakely, with access to shopping, highways, and schools, and is within the Valley View School District.
Both units are currently occupied. The first-floor tenancy is month-to-month, and the second-floor unit is subject to a six-month lease that began February 1, 2026. Tenants pay heat and electric; the landlord pays water and sewer. The property is located in Blakely, with access to shopping, highways, and schools, and is within the Valley View School District.
Key Highlights
- 1750‑square‑foot duplex with 2 residential units
- Each unit offers 2 bedrooms, 1 full bath, living room, and kitchen
- First‑floor unit includes laundry; basement laundry serves the 2nd floor
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
$14,432
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
6.04%
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%
$288,640
$288.6K
Cap Rate 7%
$206,171
$206.2K
Cap Rate 9%
$160,356
$160.4K
Market Conditions
NOI Build-Up for 1,750 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
$22.1K $12.60/SF
− Vacancy
−$1.4K −$0.82/SF
EGI
$20.6K $11.78/SF
− OpEx
−$6.2K −$3.53/SF
NOI
$14.4K $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%
$288,640
Cap Rate 7%
$206,171
Cap Rate 9%
$160,356
Alternative Uses
Best Use
Multifamily LT 5
$206.2K
$180.4K – $240.5K
NOI $14,432 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$192.7K
$168.6K – $224.9K
NOI $13,491 @ 7.0% cap · market cap 5.64%
Theoretical Best
Office A
$444.2K
$388.7K – $518.2K
NOI $31,093 @ 7.0% cap · market cap 13.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
636
Businesses Nearby
Explore this area
Business Placement
Demographics for 18447, PA
10,362
Population
4,799
Households
2.2
Avg Household Size
45
Median Age
28%
College-Educated
96%
High-School Grad
19.9 sq mi
ZIP Area
521
Density / Sq Mi
$64,276
Median Household Income
$42,470
Median Earnings
$971
Median Rent
$194,600
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 - Occupied income property with flexible lease terms, individual residential layouts, and laundry access for both households.
Where is this duplex located?
The property is located at 108 3rd St Blakely, PA.
What is the asking price?
The asking price for this property is $239,000.
What are key features of this property?
This property features: 1750‑square‑foot duplex with 2 residential units; Each unit offers 2 bedrooms, 1 full bath, living room, and kitchen; First‑floor unit includes laundry; basement laundry serves the 2nd floor
