Three-Unit Multifamily
For Sale
$345,000
2328 Lakeside Drive, Tobyhanna, PA 18466
Multi-unit residential property with a ranch home, detached cottage, and efficiency unit near Tobyhanna Lake.
Property Size1,882 SF
Days on Market117
Property Features for 2328 Lakeside Drive
General Information
Standard status
Active
Size
1,882 SF
Property subtype
Residential Income
Zoning
Multi-Family
Taxes and HOA fees
Annual Taxes
$3,075
Building Details
Building Size
1,882 SF
Year Built
1949
Stories
1
Units
3
Listing Agency:
RE/MAX Crossroads
(570) 424-8850
Listed By:
Yarrow A. Wilkins · License #RM423056
(570) 424-8850
Source:
Sercommercial
Added: Apr 15
Changed: Aug 7
Last Checked: Aug 8 at 12:06PM
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 Crossroads
Investment Insights
Based on property information with market context.
This multifamily property contains three separate residential units: a three-bedroom ranch with one and a half baths, a detached two-bedroom cottage with one bath, and an efficiency unit. The improvements date to 1949, and the property carries Multi-Family zoning. No HOA is identified.
Located at 2328 Lakeside Drive in Tobyhanna, the property sits near Tobyhanna Lake in Coolbaugh Township. State gamelands are also part of the surrounding setting, providing direct context for the area's outdoor-oriented location.
The separate-building configuration provides a mix of unit sizes within one property, including a full-size ranch residence, a cottage, and a compact efficiency layout.
Located at 2328 Lakeside Drive in Tobyhanna, the property sits near Tobyhanna Lake in Coolbaugh Township. State gamelands are also part of the surrounding setting, providing direct context for the area's outdoor-oriented location.
The separate-building configuration provides a mix of unit sizes within one property, including a full-size ranch residence, a cottage, and a compact efficiency layout.
Key Highlights
- Three‑unit configuration with a 3BR/1.5BA ranch, separate 2BR/1BA cottage, and efficiency
- Multi‑Family zoning
- Near Tobyhanna Lake in Coolbaugh Township
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
$18,303
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
5.31%
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%
$366,060
$366.1K
Cap Rate 7%
$261,471
$261.5K
Cap Rate 9%
$203,367
$203.4K
Market Conditions
NOI Build-Up for 1,882 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
$27.1K $14.40/SF
− Vacancy
−$954 −$0.51/SF
EGI
$26.1K $13.89/SF
− OpEx
−$7.8K −$4.17/SF
NOI
$18.3K $9.73/SF
Area
Monroe County, PA
Vacancy
3.52%
Lease Rate
$14.40 /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%
$366,060
Cap Rate 7%
$261,471
Cap Rate 9%
$203,367
Alternative Uses
Best Use
Multifamily LT 5
$261.5K
$228.8K – $305.1K
NOI $18,303 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$240.9K
$210.8K – $281.1K
NOI $16,866 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$563.3K
$492.9K – $657.2K
NOI $39,432 @ 7.0% cap · market cap 11.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
94
Businesses Nearby
Explore this area
Business Placement
Demographics for 18466, PA
17,000
Population
7,892
Households
2.2
Avg Household Size
38
Median Age
24%
College-Educated
89%
High-School Grad
35.0 sq mi
ZIP Area
486
Density / Sq Mi
$77,508
Median Household Income
$35,396
Median Earnings
$1,795
Median Rent
$181,300
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?
Triplex - Multi-unit residential property with a ranch home, detached cottage, and efficiency unit near Tobyhanna Lake.
Where is this triplex located?
The property is located at 2328 Lakeside Drive Tobyhanna, PA.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Three‑unit configuration with a 3BR/1.5BA ranch, separate 2BR/1BA cottage, and efficiency; Multi‑Family zoning; Near Tobyhanna Lake in Coolbaugh Township
