Updated Apartment
For Sale
$1,950,000
2413 Route 390, Canadensis, PA 18325
Residential Income, Canadensis, PA
Property Size7,000 SF
Lot Size1.60 Acres
Price / SF$278.57
Days on Market367
Property Features for 2413 Route 390
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
7
Full bathrooms
10
Rooms
Bathroom 5, Bathroom 4, Bedroom 3, Bedroom 7, Bathroom 7, Bathroom 10, Bedroom 6, Bathroom 2, Bedroom 5, Bathroom 8, Bedroom 2, Bathroom 3, Bathroom 6, Bathroom 9, Bedroom 1, Bedroom 4, Bathroom 1
Elementary school district
Pocono Mountain
Middle school district
Pocono Mountain
High school district
Pocono Mountain
Subdivision
Barrett Township
Standard status
Active
APN
01.24.1.36
Size
7,000 SF
Lot size
1.60 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
23139
Utilities
Sewer type
Private Sewer
Heating system
Electric (Heating)
Water source
Well
Building Details
Year built
1971
Floors in Building
2
Number of units
10
Building materials
Wood Siding
Roof type
Asbestos Shingle
Architectural style
Other
Listing Agency:
RE/MAX of the Poconos · RE/MAX International
(570) 421-2345
Listed By:
Keith S. Torregrossa · License #RM421450
(570) 242-0388
Added: Sep 18, 2025
Changed: Sep 15
Last Checked: Sep 19 at 9:06PM
MLS# PM-135799
Copyright © 2026 Pocono Mountains Association of Realtors. 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 apartment property comprises multiple buildings with 23 units across 7,000 square feet on 1.6 acres. Built in 1971, the improvements feature wood siding, electric heating, well water, and a private sewer system. Recent work includes new roofs and siding, providing updated exterior components across the complex.
The property is located at 2413 Route 390 in Canadensis, Pennsylvania. Its setting provides access to state parks, Skytop Resort, dining, and local amenities. The property information also reports nearly 100% occupancy and a strong rental history.
The property is located at 2413 Route 390 in Canadensis, Pennsylvania. Its setting provides access to state parks, Skytop Resort, dining, and local amenities. The property information also reports nearly 100% occupancy and a strong rental history.
Key Highlights
- 23‑unit apartment property across multiple buildings
- 7,000 square feet of property improvements on 1.6 acres
- New roofs and siding completed as part of major recent updates
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
$83,160
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
4.26%
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%
$1,663,200
$1.7M
Cap Rate 7%
$1,188,000
$1.2M
Cap Rate 9%
$924,000
$924.0K
Market Conditions
NOI Build-Up for 7,000 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
$151.2K $21.60/SF
− Vacancy
−$18.1K −$2.59/SF
EGI
$133.1K $19.01/SF
− OpEx
−$49.9K −$7.13/SF
NOI
$83.2K $11.88/SF
Area
Monroe County, PA
Vacancy
12.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$1,663,200
Cap Rate 7%
$1,188,000
Cap Rate 9%
$924,000
Alternative Uses
Best Use
Mixed Use
$1.19M
$1.04M – $1.39M
NOI $83,160 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$896.2K
$784.2K – $1.05M
NOI $62,732 @ 7.0% cap · market cap 3.22%
Theoretical Best
Office A
$2.10M
$1.83M – $2.44M
NOI $146,664 @ 7.0% cap · market cap 7.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
23
Residential units
Location Intelligence
Trade Area within ½ mile
68
Businesses Nearby
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Business Placement
Demographics for 18325, PA
2,284
Population
1,415
Households
1.6
Avg Household Size
51
Median Age
49%
College-Educated
96%
High-School Grad
43.0 sq mi
ZIP Area
53
Density / Sq Mi
$114,885
Median Household Income
$59,250
Median Earnings
$241,800
Median Home Value
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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?
Apartment building - Multi-building residential income property with exterior improvements, electric heat, well water, and private sewer.
Where is this apartment building located?
The property is located at 2413 Route 390 Canadensis, PA.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 23‑unit apartment property across multiple buildings; 7,000 square feet of property improvements on 1.6 acres; New roofs and siding completed as part of major recent updates
