Two-Unit Efficiency
New
For Sale
$185,000
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$244.71
Days on Market6
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: Sep 1
Last Checked: Sep 1 at 10:08PM
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
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 = 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
$8,224
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
4.45%
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%
$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
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
$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 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%
$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 4.45%
Second Best
Apartment 5plus
$101.8K
$89.0K – $118.7K
NOI $7,123 @ 7.0% cap · market cap 3.85%
Theoretical Best
Office A
$184.3K
$161.3K – $215.1K
NOI $12,904 @ 7.0% cap · market cap 6.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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 $185,000.
What are key features of this property?
This property features: 2 efficiency apartments; Located on Route 6 in Honesdale; 219 Willow Ave, Honesdale, PA
