Two-Unit Apartment
For Sale
$159,900
1229-1231 WALNUT ST, Ashland, PA 17921
Duplex with two parcels and one currently vacant unit in Ashland, Pennsylvania.
Property Size2,440 SF
Price / SF$65.53
Days on Market48
Property Features for 1229-1231 WALNUT ST
General Information
Standard status
Active
Size
2,440 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Listing Agency:
Ramus Realty Group
(570) 728-0186
Listed By:
William Primeau · License #RS337743
(570) 728-0186
Source:
Davidyungmann.myrealestateplatform
Added: Jul 14
Changed: Aug 28
Last Checked: Aug 29 at 9:27AM
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 Ramus Realty Group
Investment Insights
Based on property information with market context.
This two-unit apartment property contains 2,440 square feet across two parcels at 1229-1231 Walnut Street in Ashland, Pennsylvania. One unit is currently vacant, while the other is occupied. The resident is responsible for electric, water, and electric heat; ownership covers trash, sewer, and property taxes.
Key Highlights
- Two‑unit apartment property totaling 2,440 square feet
- Sale includes 2 parcels
- 1229 Walnut Street unit is currently vacant
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
$14,373
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
8.99%
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%
$287,460
$287.5K
Cap Rate 7%
$205,329
$205.3K
Cap Rate 9%
$159,700
$159.7K
Market Conditions
NOI Build-Up for 2,440 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
$22.0K $9.00/SF
− Vacancy
−$1.4K −$0.59/SF
EGI
$20.5K $8.42/SF
− OpEx
−$6.2K −$2.52/SF
NOI
$14.4K $5.89/SF
Area
Schuylkill County, PA
Vacancy
6.50%
Lease Rate
$9.00 /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%
$287,460
Cap Rate 7%
$205,329
Cap Rate 9%
$159,700
Alternative Uses
Best Use
Multifamily LT 5
$205.3K
$179.7K – $239.6K
NOI $14,373 @ 7.0% cap · market cap 8.99%
Second Best
Apartment 5plus
$190.7K
$166.9K – $222.5K
NOI $13,350 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$366.0K
$320.3K – $427.0K
NOI $25,620 @ 7.0% cap · market cap 16.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
217
Businesses Nearby
Explore this area
Business Placement
Demographics for 17921, PA
7,038
Population
2,980
Households
2.4
Avg Household Size
44
Median Age
12%
College-Educated
87%
High-School Grad
35.0 sq mi
ZIP Area
201
Density / Sq Mi
$71,600
Median Household Income
$44,985
Median Earnings
$751
Median Rent
$136,400
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 - Duplex with two parcels and one currently vacant unit in Ashland, Pennsylvania.
Where is this duplex located?
The property is located at 1229-1231 WALNUT ST Ashland, PA.
What is the asking price?
The asking price for this property is $159,900.
What are key features of this property?
This property features: Two‑unit apartment property totaling 2,440 square feet; Sale includes 2 parcels; 1229 Walnut Street unit is currently vacant
