Historic Triplex with Detached
For Sale
$449,000
1423 N Main St, Honesdale, PA 18431
Period character, updated mechanical systems, and a detached two-car garage support the three-unit residential layout.
Property Size3,600 SF
Price / SF$124.72
Days on Market59
Property Features for 1423 N Main St
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,286
Listing Agency:
Iron Valley R E Innovate
(570) 390-1500
Listed By:
Joseph A Scarpaci, E-PRO, SFR · License #RS308578
(570) 499-0185
Source:
Exprealty
Added: Sep 3
Changed: Oct 25
Last Checked: Oct 30 at 4:22PM
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 Iron Valley R E Innovate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1869, this 3,600-square-foot triplex combines historic architectural details with several modern updates. Cedar siding, decorative trim, high ceilings, original hardwood flooring, and a sweeping staircase define the interior character. A new boiler and hot water heater add updated mechanical infrastructure, while the detached two-car garage provides on-site parking and storage.
The first-floor apartment includes a living room, formal dining room, remodeled kitchen and bath, hardwood floors, high ceilings, and fresh paint. The second-floor residence offers two bedrooms, a large living room, hardwood flooring, and an updated bath. The third apartment contains one bedroom, one bath, a living room, and an eat-in kitchen. The property is located on N Main St in Honesdale, near restaurants, shops, boutiques, and antique stores.
The first-floor apartment includes a living room, formal dining room, remodeled kitchen and bath, hardwood floors, high ceilings, and fresh paint. The second-floor residence offers two bedrooms, a large living room, hardwood flooring, and an updated bath. The third apartment contains one bedroom, one bath, a living room, and an eat-in kitchen. The property is located on N Main St in Honesdale, near restaurants, shops, boutiques, and antique stores.
Key Highlights
- Three‑unit residential property built in 1869
- 3,600 square feet with three separate apartments
- Detached two‑car garage for parking and storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,161
Cap Rate
8.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$783,220
$783.2K
Cap Rate 7%
$559,443
$559.4K
Cap Rate 9%
$435,122
$435.1K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$60.5K $16.80/SF
− Vacancy
−$4.5K −$1.26/SF
EGI
$55.9K $15.54/SF
− OpEx
−$16.8K −$4.66/SF
NOI
$39.2K $10.88/SF
Area
Wayne County, PA
Vacancy
7.50%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$783,220
Cap Rate 7%
$559,443
Cap Rate 9%
$435,122
Alternative Uses
Best Use
Multifamily LT 5
$559.4K
$489.5K – $652.7K
NOI $39,161 @ 7.0% cap · market cap 8.72%
Second Best
Apartment 5plus
$484.6K
$424.0K – $565.3K
NOI $33,919 @ 7.0% cap · market cap 7.55%
Theoretical Best
Office A
$877.8K
$768.1K – $1.02M
NOI $61,448 @ 7.0% cap · market cap 13.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
637
Businesses Nearby
Explore this area
Business Placement
Demographics for 18431, PA
12,602
Population
6,217
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
90%
High-School Grad
134.8 sq mi
ZIP Area
93
Density / Sq Mi
$55,323
Median Household Income
$33,298
Median Earnings
$1,013
Median Rent
$222,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Period character, updated mechanical systems, and a detached two-car garage support the three-unit residential layout.
Where is this triplex located?
The property is located at 1423 N Main St Honesdale, PA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Three‑unit residential property built in 1869; 3,600 square feet with three separate apartments; Detached two‑car garage for parking and storage
