Honesdale Duplex with
For Sale
$299,000
260 Terrace Street, Honesdale, PA 18431
MULTI_FAMILY - Other - Honesdale, PA
Property Size1,974 SF
Lot Size0.25 Acres
Price / SF$151.47
Days on Market176
Property Features for 260 Terrace Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 2, Basement, Bedroom 1, Bedroom 5, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 1, Bedroom 2
Parking features
Garage, Off Street
Patio and Porch features
Porch
Basement
Walk-Out Access, Unfinished, Full
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
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
(570) 352-5162
Listed By:
Jeremy J Watson · License #RM425357
(570) 352-5162
Added: Feb 22
Changed: Jun 10
Last Checked: Aug 17 at 5:06AM
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.
Located in Honesdale, this duplex is situated between the schools and Main Street. The property contains two units, each featuring 3 bedrooms, living areas, and storage space. A shared basement laundry area includes individual washer and dryer hookups for each unit. The property includes off-street parking and a detached two-car garage. The current annual gross income is $27,600. Tenants are responsible for electric, water, and garbage expenses. The property is located on a 0.25-acre lot and has a property size of 1974 square feet.
Key Highlights
- Two‑unit duplex in Honesdale, each unit offers 3 bedrooms and separate bathroom areas
- Shared basement laundry with washer and dryer hookups for each unit
- Current annual gross income of $27,600
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
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
677
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 - Duplex in Honesdale with two units and garage.
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‑unit duplex in Honesdale, each unit offers 3 bedrooms and separate bathroom areas; Shared basement laundry with washer and dryer hookups for each unit; Current annual gross income of $27,600
