Duplex with Finished
New
For Sale
$279,900
220-222 New Mallery Place Wilkes-Barre, Wilkes Barre, PA 18702
Each residence has separate utilities, off-street parking, and its own backyard area.
Property Size2,800 SF
Days on Market4
Property Features for 220-222 New Mallery Place Wilkes-Barre
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 4BR/1.5BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,298
Building Details
Building Size
2,800 SF
Buildings
1
Listing Agency:
Dream Homes Real Estate LLC
Listed By:
John Clawson · License #RS336506
(570) 817-9162
Source:
Luxehomesnepa
Added: Oct 6
Changed: Oct 7
Last Checked: Oct 7 at 2:01PM
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 Dream Homes Real Estate LLC
Investment Insights
Based on property information with market context.
This duplex contains two residences with distinct layouts. The remodeled owner's unit has 3 bedrooms, 1.5 baths, and a finished attic that may accommodate a fourth bedroom. The other unit offers 4 bedrooms and 1.5 baths and is currently occupied by a tenant. Both residences use forced-air gas heat and have separate utilities, off-street parking, and individual backyard areas.
The occupied unit provides current rental income, while the owner-occupied residence can remain in use or be leased. Showings for the owner's unit require 24 hours' notice and are available after 5 p.m. on weekdays; weekends are flexible.
The occupied unit provides current rental income, while the owner-occupied residence can remain in use or be leased. Showings for the owner's unit require 24 hours' notice and are available after 5 p.m. on weekdays; weekends are flexible.
Key Highlights
- Remodeled owner's residence with 3 bedrooms, 1.5 baths, and finished attic with potential for a 4th bedroom
- Tenant residence has 4 bedrooms and 1.5 baths and is currently rented
- Forced‑air gas heat and separate utilities in both units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,597
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,940
$451.9K
Cap Rate 7%
$322,814
$322.8K
Cap Rate 9%
$251,078
$251.1K
Market Conditions
NOI Build-Up for 2,800 SF
Gross rent
$35.3K $12.60/SF
− Vacancy
−$3.0K −$1.07/SF
EGI
$32.3K $11.53/SF
− OpEx
−$9.7K −$3.46/SF
NOI
$22.6K $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 Rate 5%
$451,940
Cap Rate 7%
$322,814
Cap Rate 9%
$251,078
Alternative Uses
Best Use
Multifamily LT 5
$322.8K
$282.5K – $376.6K
NOI $22,597 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$299.4K
$262.0K – $349.3K
NOI $20,957 @ 7.0% cap · market cap 7.49%
Theoretical Best
Office A
$887.0K
$776.2K – $1.03M
NOI $62,093 @ 7.0% cap · market cap 22.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
803
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
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 - Each residence has separate utilities, off-street parking, and its own backyard area.
Where is this duplex located?
The property is located at 220-222 New Mallery Place Wilkes-Barre Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $279,900.
What are key features of this property?
This property features: Remodeled owner's residence with 3 bedrooms, 1.5 baths, and finished attic with potential for a 4th bedroom; Tenant residence has 4 bedrooms and 1.5 baths and is currently rented; Forced‑air gas heat and separate utilities in both units
