Fully Rented
For Sale
$230,000
1202 Mine Street, Old Forge, PA 18518
Two occupied residences include off-street parking and a large yard in Old Forge.
Property Size2,024 SF
Days on Market13
Property Features for 1202 Mine Street
General Information
Standard status
Active
Size
2,024 SF
Property subtype
Duplex
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,570
Amenities
large yard
off-street parking
Building Details
Building Size
2,024 SF
Year Built
1950
Listing Agency:
C21 Jack Ruddy Real Estate
(570) 585-5800
Listed By:
Sherri Hoban
Source:
Luxehomesnepa
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 28 at 7:13PM
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 C21 Jack Ruddy Real Estate
Investment Insights
Based on property information with market context.
This duplex at 1202 Mine St in Old Forge, PA, contains two separate living units and is currently fully rented. The configuration provides distinct residential spaces within one multifamily property, with established occupancy in both units.
Exterior features include a large yard and off-street parking. The property offers a straightforward two-unit layout in an established Old Forge neighborhood, with both residences occupied at the time of listing.
Exterior features include a large yard and off-street parking. The property offers a straightforward two-unit layout in an established Old Forge neighborhood, with both residences occupied at the time of listing.
Key Highlights
- Two‑unit multifamily property
- Both units are currently occupied
- Separate living units within one property
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
$16,691
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
7.26%
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%
$333,820
$333.8K
Cap Rate 7%
$238,443
$238.4K
Cap Rate 9%
$185,456
$185.5K
Market Conditions
NOI Build-Up for 2,024 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
$25.5K $12.60/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$23.8K $11.78/SF
− OpEx
−$7.2K −$3.53/SF
NOI
$16.7K $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%
$333,820
Cap Rate 7%
$238,443
Cap Rate 9%
$185,456
Alternative Uses
Best Use
Multifamily LT 5
$238.4K
$208.6K – $278.2K
NOI $16,691 @ 7.0% cap · market cap 7.26%
Second Best
Apartment 5plus
$222.9K
$195.1K – $260.1K
NOI $15,604 @ 7.0% cap · market cap 6.78%
Theoretical Best
Office A
$513.7K
$449.5K – $599.4K
NOI $35,961 @ 7.0% cap · market cap 15.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
102
Businesses Nearby
Explore this area
Business Placement
Demographics for 18518, PA
8,497
Population
3,949
Households
2.2
Avg Household Size
46
Median Age
32%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,124
Density / Sq Mi
$73,258
Median Household Income
$44,586
Median Earnings
$862
Median Rent
$169,700
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 - Two occupied residences include off-street parking and a large yard in Old Forge.
Where is this duplex located?
The property is located at 1202 Mine Street Old Forge, PA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two‑unit multifamily property; Both units are currently occupied; Separate living units within one property
