Two-Unit Duplex with Storage
For Sale
$324,900
23 25 Prospect Street, Simpson, PA 18407
Residential Income, Simpson, PA
Property Size2,192 SF
Lot Size0.17 Acres
Price / SF$148.22
Days on Market168
Property Features for 23 25 Prospect Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
Multi-Family
Bedrooms
4
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Bathroom 2, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bedroom 2
Security features
Security System
Appliances
Free-Standing Electric Range, Refrigerator
Elementary school district
Carbondale Area School District
Middle school district
Carbondale Area School District
High school district
Carbondale Area School District
Directions
From BHHS Pocono Real Estate Office, turn right onto PA-590 W. Turn right onto Owego Turnpike. Continue straight onto Owego Turnpike/T465, Turn right onto Canaan Rd. Turn left onto Carbondale Rd. Turn left onto US6 W. Turn right onto US-6 W Business. Turn right onto Canaan St. Turn left onto Morse Ave. Slight left to stay on Morse Ave. Turn left onto Prospect St. Home is on the left.
Standard status
Active
APN
03519050011
Size
2,192 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Annual Amount
1348
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
storage sheds
Building Details
Year built
1920
Floors in Building
4
Number of units
2
Listing Agency:
Berkshire Hathaway HomeServices Pocono Real Estate Hawley
(570) 226-1800
Listed By:
Kimberly Stevens · License #RM423995
(570) 650-1978
Added: Apr 6
Changed: Sep 13
Last Checked: Sep 20 at 4:06PM
MLS# PW-260810
Copyright © 2026 Pike/Wayne Association of Realtors MLS. 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 two separate units, each arranged with two bedrooms, within a 2,192-square-foot residential property built in 1920. Exterior work includes vinyl siding, a newer roof, insulation improvements, foundation stone repairs, structural support pillars, and attic skylights. Two storage sheds provide additional on-site utility. The interiors remain ready for renovation, allowing the next owner to update the living areas and finishes. The attic may offer additional finished-space potential for a primary bedroom and bathroom, subject to applicable approvals.
The property sits on a 0.17-acre lot at 23 25 Prospect Street in Simpson, Pennsylvania. Public water and public sewer serve the property. Existing appliances include free-standing electric ranges and refrigerators.
The property sits on a 0.17-acre lot at 23 25 Prospect Street in Simpson, Pennsylvania. Public water and public sewer serve the property. Existing appliances include free-standing electric ranges and refrigerators.
Key Highlights
- Two‑unit duplex with 2 bedrooms in each unit
- 2,192 square feet on a 0.17‑acre lot
- 1920 construction with vinyl siding and a newer roof
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
$18,077
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
5.56%
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%
$361,540
$361.5K
Cap Rate 7%
$258,243
$258.2K
Cap Rate 9%
$200,856
$200.9K
Market Conditions
NOI Build-Up for 2,192 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
$27.6K $12.60/SF
− Vacancy
−$1.8K −$0.82/SF
EGI
$25.8K $11.78/SF
− OpEx
−$7.7K −$3.53/SF
NOI
$18.1K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
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%
$361,540
Cap Rate 7%
$258,243
Cap Rate 9%
$200,856
Alternative Uses
Best Use
Multifamily LT 5
$258.2K
$226.0K – $301.3K
NOI $18,077 @ 7.0% cap · market cap 5.56%
Second Best
Apartment 5plus
$241.4K
$211.2K – $281.7K
NOI $16,899 @ 7.0% cap · market cap 5.20%
Theoretical Best
Office A
$556.4K
$486.8K – $649.1K
NOI $38,946 @ 7.0% cap · market cap 11.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 18407, PA
14,047
Population
7,028
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
92%
High-School Grad
41.5 sq mi
ZIP Area
338
Density / Sq Mi
$57,261
Median Household Income
$40,174
Median Earnings
$826
Median Rent
$142,600
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
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Frequently Asked Questions
What type of property is this?
Duplex - Exterior upgrades are complete, leaving the interiors ready for renovation and personalization.
Where is this duplex located?
The property is located at 23 25 Prospect Street Simpson, PA.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: Two‑unit duplex with 2 bedrooms in each unit; 2,192 square feet on a 0.17‑acre lot; 1920 construction with vinyl siding and a newer roof
