Three-Unit Triplex with Updated
1200 S Main St, Old Forge, PA
For Sale
$379,900
Recent roof and mechanical upgrades complement the refreshed residential units.
Property Size3,200 SF
Price / SF$118.72
Days on Market40
Property Features for 1200 S Main St
General Information
Standard status
Size
Property subtype
Net Operating Income
Additional Details
Cap Rate
Public Transit
Multifamily Units
Taxes and HOA fees
Annual Taxes
Listing Agency:
LUXE Homes Real Estate LLC
(570) 818-5040
Listed By:
Eric Scritchfield
(570) 351-4045
Source:
Exprealty
Added: Oct 1
Changed: Nov 9
Last Checked: Nov 8 at 10:51AM
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 LUXE Homes Real Estate LLC
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Investment Insights
Based on property information with market context.
This triplex contains three income-producing apartments within 3,200 square feet. The units have been updated, and building improvements include a roof installed in 2021, water heaters replaced in 2021, 2024, and 2026, and a new furnace. The property is reported at a 10 cap rate.
At 1200 S Main St in Old Forge, the property is near restaurants, local businesses, and bus transportation.
At 1200 S Main St in Old Forge, the property is near restaurants, local businesses, and bus transportation.
Key Highlights
- Three residential units in 3,200 square feet
- 10 cap rate
- Roof installed in 2021
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,389
Cap Rate
6.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$527,780
$527.8K
Cap Rate 7%
$376,986
$377.0K
Cap Rate 9%
$293,211
$293.2K
Market Conditions
NOI Build-Up for 3,200 SF
Gross rent
$40.3K $12.60/SF
− Vacancy
−$2.6K −$0.82/SF
EGI
$37.7K $11.78/SF
− OpEx
−$11.3K −$3.53/SF
NOI
$26.4K $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 Rate 5%
$527,780
Cap Rate 7%
$376,986
Cap Rate 9%
$293,211
Alternative Uses
Best Use
Multifamily LT 5
$377.0K
$329.9K – $439.8K
NOI $26,389 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$352.4K
$308.4K – $411.2K
NOI $24,670 @ 7.0% cap · market cap 6.49%
Theoretical Best
Office A
$812.2K
$710.7K – $947.6K
NOI $56,855 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
510
Businesses Nearby
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Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Lackawanna County, PA
Properties on Market for Triplexes in Lackawanna County
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Recent roof and mechanical upgrades complement the refreshed residential units.
Where is this triplex located?
The property is located at 1200 S Main St Old Forge, PA.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Three residential units in 3,200 square feet; 10 cap rate; Roof installed in 2021
