Duplex with Two-Car
For Sale
$299,000
260 Terrace Street, Honesdale, PA 18431
Residential Income, Honesdale, PA
Property Size1,974 SF
Lot Size0.25 Acres
Price / SF$151.47
Days on Market222
Property Features for 260 Terrace Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 3, Bedroom 4, Bedroom 1, Bedroom 6, Bathroom 2, Basement, Bathroom 1, Bedroom 2
Parking features
Garage, Off Street
Patio and Porch features
Porch
Basement
Full, Unfinished, Walk-Out Access
Appliances
Electric Oven, Refrigerator, Washer/Dryer
Elementary school district
Wayne Highlands
Middle school district
Wayne Highlands
High school district
Wayne Highlands
Directions
From Honesdale, Take Main Street, Turn Right onto 4th Street. Then Right onto Terrace Street..House on Right up Hill.
Standard status
Active
APN
11-0-0011-0125
Size
1,974 SF
Lot size
0.25 Acres
Taxes and HOA fees
Tax Annual Amount
3639
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
shared basement laundry area
Building Details
Year built
1869
Floors in Building
2
Number of units
2
Flooring type
Vinyl, Carpet
Architectural style
Other
Listing Agency:
SIX PM LLC
Listed By:
Jeremy J Watson · License #RM425357
(570) 352-5162
Added: Feb 22
Changed: Sep 12
Last Checked: Oct 2 at 7:06AM
MLS# PW-260328
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 1,974-square-foot duplex on a 0.25-acre lot contains two three-bedroom units with generous living areas and storage. A shared basement laundry area provides individual washer and dryer hookups for each residence. The property also includes a detached two-car garage, off-street parking, a porch, electric heat, ceiling fans, and a combination of vinyl and carpet flooring.
Built in 1869, the property is located at 260 Terrace Street in Honesdale, between local schools and Main Street. Public water and public sewer serve the property. Tenants pay electric, water, and garbage, while each unit includes an electric oven and refrigerator.
Built in 1869, the property is located at 260 Terrace Street in Honesdale, between local schools and Main Street. Public water and public sewer serve the property. Tenants pay electric, water, and garbage, while each unit includes an electric oven and refrigerator.
Key Highlights
- Two three‑bedroom units within a 1,974‑square‑foot duplex
- 0.25‑acre property at 260 Terrace Street, Honesdale, PA 18431
- Large detached two‑car garage plus off‑street parking
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
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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
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 - Two three-bedroom units include shared laundry hookups, storage, and off-street parking.
Where is this duplex located?
The property is located at 260 Terrace Street 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 three‑bedroom units within a 1,974‑square‑foot duplex; 0.25‑acre property at 260 Terrace Street, Honesdale, PA 18431; Large detached two‑car garage plus off‑street parking
