8-Bedroom
For Sale
$395,000
188-192 High St, Wilkes Barre, PA 18702
Multi-Family, Wilkes-Barre, PA
Property Size3,600 SF
Lot Size0.10 Acres
Price / SF$109.72
Days on Market58
Property Features for 188-192 High St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 5, Basement, Bedroom 7, Bathroom 1, Bathroom 4, Bedroom 3, Bedroom 8, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 1, Bedroom 4
Parking features
On Street
Exterior features
Vinyl
Basement
Partially Finished, Concrete
Elementary school district
Wilkes-Barre
Middle school district
Wilkes-Barre
High school district
Wilkes-Barre
Directions
From Blackman street turn left onto high street and property will be on right.
Subdivision
Wilkes Barre
Standard status
Active
APN
73-I9NE1-036-027
Size
3,600 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Tenant and Seller personal items
Tax Annual Amount
537
Legal Description
Tenant and Seller personal items
Utilities
Heating system
Hot Water(Heating), Baseboard
Water source
Public
Building Details
Roof type
Rubber
Listing Agency:
Antonik & Associates, Inc. Nanticoke
(570) 735-7494
Listed By:
Christi Skiro
(570) 262-6586
Added: Aug 5
Changed: Sep 13
Last Checked: Oct 1 at 6:06PM
MLS# 26-3856
Copyright © 2026 Luzerne County Association of REALTORS®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains 3,600 square feet with eight bedrooms, four bathrooms, and a basement. The building features vinyl exterior siding, a rubber roof, and hot-water baseboard heating. Public water serves the property, while parking is provided on the street.
The parcel encompasses 0.0956 acres and carries Multi-Family zoning. Its two-unit configuration and bedroom count provide a defined residential income property format within the existing building.
The parcel encompasses 0.0956 acres and carries Multi-Family zoning. Its two-unit configuration and bedroom count provide a defined residential income property format within the existing building.
Key Highlights
- 3,600 square feet with eight bedrooms and four bathrooms
- Two‑unit duplex configuration
- 0.0956‑acre parcel with Multi‑Family zoning
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
$29,053
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
7.36%
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%
$581,060
$581.1K
Cap Rate 7%
$415,043
$415.0K
Cap Rate 9%
$322,811
$322.8K
Market Conditions
NOI Build-Up for 3,600 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
$45.4K $12.60/SF
− Vacancy
−$3.9K −$1.07/SF
EGI
$41.5K $11.53/SF
− OpEx
−$12.5K −$3.46/SF
NOI
$29.1K $8.07/SF
Area
Luzerne County, PA
Vacancy
8.50%
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%
$581,060
Cap Rate 7%
$415,043
Cap Rate 9%
$322,811
Alternative Uses
Best Use
Multifamily LT 5
$415.0K
$363.2K – $484.2K
NOI $29,053 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$384.9K
$336.8K – $449.1K
NOI $26,945 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$1.14M
$997.9K – $1.33M
NOI $79,834 @ 7.0% cap · market cap 20.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 18702, PA
42,133
Population
19,738
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
78.1 sq mi
ZIP Area
539
Density / Sq Mi
$54,892
Median Household Income
$36,911
Median Earnings
$971
Median Rent
$115,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Multi-Family zoning, a basement, and public water serve this two-unit residential property.
Where is this duplex located?
The property is located at 188-192 High St Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: 3,600 square feet with eight bedrooms and four bathrooms; Two‑unit duplex configuration; 0.0956‑acre parcel with Multi‑Family zoning
