Two-Unit Efficiency
For Sale
$175,000
219 Willow Ave, Honesdale, PA 18431
Two efficiency apartments are located near shopping, parks, banks, and everyday services in Honesdale.
Property Size756 SF
Price / SF$231.48
Days on Market54
Property Features for 219 Willow Ave
General Information
Standard status
Active
Size
756 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,583
Listing Agency:
RE/MAX WAYNE
(570) 253-9566
Listed By:
Stephen Langendoerfer · License #RS271198
(570) 470-2391
Source:
Exprealty
Added: Aug 28
Changed: Oct 19
Last Checked: Oct 19 at 7:36AM
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 RE/MAX WAYNE
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Investment Insights
Based on property information with market context.
This duplex contains 2 efficiency apartments at 219 Willow Ave in Honesdale, Pennsylvania. The property is positioned on Route 6 and offers a compact residential configuration within town.
Shopping, stores, parks, workout facilities, banks, and auto services are all identified in the surrounding area. The property is also described as being within walking distance of several nearby amenities, supporting convenient access to daily services and recreation.
Shopping, stores, parks, workout facilities, banks, and auto services are all identified in the surrounding area. The property is also described as being within walking distance of several nearby amenities, supporting convenient access to daily services and recreation.
Key Highlights
- 2 efficiency apartments
- Located on Route 6 in Honesdale
- 219 Willow Ave, Honesdale, PA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$8,224
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$164,480
$164.5K
Cap Rate 7%
$117,486
$117.5K
Cap Rate 9%
$91,378
$91.4K
Market Conditions
NOI Build-Up for 756 SF
Gross rent
$12.7K $16.80/SF
− Vacancy
−$953 −$1.26/SF
EGI
$11.7K $15.54/SF
− OpEx
−$3.5K −$4.66/SF
NOI
$8.2K $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%
$164,480
Cap Rate 7%
$117,486
Cap Rate 9%
$91,378
Alternative Uses
Best Use
Multifamily LT 5
$117.5K
$102.8K – $137.1K
NOI $8,224 @ 7.0% cap · market cap 4.70%
Second Best
Apartment 5plus
$101.8K
$89.0K – $118.7K
NOI $7,123 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$184.3K
$161.3K – $215.1K
NOI $12,904 @ 7.0% cap · market cap 7.37%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
498
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two efficiency apartments are located near shopping, parks, banks, and everyday services in Honesdale.
Where is this duplex located?
The property is located at 219 Willow Ave Honesdale, PA.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 2 efficiency apartments; Located on Route 6 in Honesdale; 219 Willow Ave, Honesdale, PA
