Two-Unit Duplex with
For Sale
$299,000
260 Terrace St, Honesdale, PA 18431
Two spacious three-bedroom units include shared basement laundry hookups, off-street parking, and convenient access to schools and Main Street.
Property Size1,974 SF
Price / SF$151.47
Days on Market191
Property Features for 260 Terrace St
General Information
Standard status
Active
Size
1,974 SF
Property subtype
Residential Income
Units
Unit Mix
2 x 3BR
Multifamily Units
2
Additional Details
Gross Income
$27,600
Taxes and HOA fees
Annual Taxes
$3,638
Amenities
shared basement laundry area
Listing Agency:
SIX PM LLC
(570) 352-5162
Listed By:
Jeremy J Watson · License #RM425357
(570) 352-5162
Source:
Exprealty
Added: Feb 22
Changed: Aug 30
Last Checked: Aug 31 at 7:21PM
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 SIX PM LLC
Investment Insights
Based on property information with market context.
This 1,974-square-foot duplex contains two three-bedroom residences, each with generous living space and dedicated storage. A shared basement laundry area provides individual washer and dryer hookups for both units. Exterior amenities include off-street parking and a detached two-car garage, adding useful storage and vehicle capacity for an in-town property.
The property is located at 260 Terrace St in Honesdale, positioned between local schools and Main Street. Tenants are responsible for electric, water, and garbage expenses. The two-unit configuration supports continued rental use or an owner-occupant arrangement with a separate residence on site.
The property is located at 260 Terrace St in Honesdale, positioned between local schools and Main Street. Tenants are responsible for electric, water, and garbage expenses. The two-unit configuration supports continued rental use or an owner-occupant arrangement with a separate residence on site.
Key Highlights
- Two 3‑bedroom units within a 1,974‑square‑foot duplex
- Detached 2‑car garage plus off‑street parking
- Shared basement laundry area with individual washer and dryer hookups
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
$21,473
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
7.18%
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%
$429,460
$429.5K
Cap Rate 7%
$306,757
$306.8K
Cap Rate 9%
$238,589
$238.6K
Market Conditions
NOI Build-Up for 1,974 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
$33.2K $16.80/SF
− Vacancy
−$2.5K −$1.26/SF
EGI
$30.7K $15.54/SF
− OpEx
−$9.2K −$4.66/SF
NOI
$21.5K $10.88/SF
Area
Wayne County, PA
Vacancy
7.50%
Lease Rate
$16.80 /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%
$429,460
Cap Rate 7%
$306,757
Cap Rate 9%
$238,589
Alternative Uses
Best Use
Multifamily LT 5
$306.8K
$268.4K – $357.9K
NOI $21,473 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$265.7K
$232.5K – $310.0K
NOI $18,599 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$481.3K
$421.2K – $561.6K
NOI $33,694 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
Explore this area
Business Placement
Demographics for 18431, PA
12,602
Population
6,217
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
90%
High-School Grad
134.8 sq mi
ZIP Area
93
Density / Sq Mi
$55,323
Median Household Income
$33,298
Median Earnings
$1,013
Median Rent
$222,000
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 - Two spacious three-bedroom units include shared basement laundry hookups, off-street parking, and convenient access to schools and Main Street.
Where is this duplex located?
The property is located at 260 Terrace St Honesdale, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Two 3‑bedroom units within a 1,974‑square‑foot duplex; Detached 2‑car garage plus off‑street parking; Shared basement laundry area with individual washer and dryer hookups
