Building Details

Buildings 1

Stories 2

Listing Agency: RPA Real Estate Show Phone

Listed By: Michael Ascolillo Show Phone

Source: Exprealty

Added: Aug 7 Changed: Aug 15 Last Checked: Aug 16 at 1:42PM

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Investment Insights

Based on property information with market context.

This two-unit duplex contains approximately 1,681 square feet of total living area across upper and lower residences. The upper dwelling includes three bedrooms and one bathroom, while the lower dwelling provides two bedrooms and one bathroom. The property also includes a fenced yard and off-street parking positioned behind the building.

Key Highlights

• Two‑unit duplex with approximately 1,681 SF of total living space
• Upper residence includes 3 bedrooms and 1 bathroom
• Lower residence includes 2 bedrooms and 1 bathroom

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

$13,566

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

7.14%

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%

$271,320 $271.3K

Cap Rate 7%

$193,800 $193.8K

Cap Rate 9%

$150,733 $150.7K

Market Conditions

NOI Build-Up for 1,681 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

$21.2K $12.60/SF

− Vacancy

−$1.8K −$1.07/SF

EGI

$19.4K $11.53/SF

− OpEx

−$5.8K −$3.46/SF

NOI

$13.6K $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 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%

$271,320

Cap Rate 7%

$193,800

Cap Rate 9%

$150,733

Alternative Uses

Best Use

Multifamily LT 5

$193.8K

$169.6K – $226.1K (±1% cap)

NOI $13,566 @ 7.0% cap · market cap 7.14%

Second Best

Apartment 5plus

$179.7K

$157.3K – $209.7K (±1% cap)

NOI $12,582 @ 7.0% cap · market cap 6.63%

Theoretical Best

Office A

$532.5K

$466.0K – $621.3K (±1% cap)

NOI $37,278 @ 7.0% cap · market cap 19.63%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Duplexes

Suggested Use

Top Pick Electrical Service HVAC Service Gym & Fitness Center Grocery & Convenience Store Law Firm (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Location Intelligence

Trade Area within ½ mile

432

Businesses Nearby

Explore this area Business Placement

Demographics for 18706, PA

16,338

Population

7,675

Households

2.1

Avg Household Size

43

Median Age

20%

College-Educated

91%

High-School Grad

26.3 sq mi

ZIP Area

621

Density / Sq Mi

$57,546

Median Household Income

$38,381

Median Earnings

$883

Median Rent

$121,900

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

Questions? Ask Rey

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What type of property is this? Where is this duplexes located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Duplex - Upper and lower residences offer distinct bedroom configurations with rear parking and enclosed outdoor space.

Where is this duplex located?

The property is located at 249 Boland Ave Hanover Township, PA.

What is the asking price?

The asking price for this property is $189,900.

What are key features of this property?

This property features: Two‑unit duplex with approximately 1,681 SF of total living space; Upper residence includes 3 bedrooms and 1 bathroom; Lower residence includes 2 bedrooms and 1 bathroom