Renovated Duplex with Detached
For Sale
$355,000
262 Zerby Ave, Kingston, PA 18704
Flexible two-unit configuration includes separated electric, off-street parking, and a two-story detached garage.
Property Size2,863 SF
Price / SF$123
Days on Market116
Property Features for 262 Zerby Ave
General Information
Standard status
Active
Size
2,863 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Listing Agency:
Wyoming Valley Real Estate
(570) 332-4340
Listed By:
Skyla Nealy
Source:
Nepahousehunt
Added: May 7
Changed: Aug 29
Last Checked: Aug 29 at 11:41AM
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 Wyoming Valley Real Estate
Investment Insights
Based on property information with market context.
This 2,863 SF duplex combines updated systems with preserved architectural details. The property is arranged as two units and can be returned to single-family use through an adjoining interior door. Renovations include new electrical, plumbing, roof, and windows, while hardwood floors, solid wood doors, and stained-glass windows retain the home’s established character.
The second-floor residence has a remodeled kitchen with granite countertops, new cabinetry, oak flooring, and a finished bathroom with a tile shower and laundry. A third-floor bathroom is scheduled for completion by the seller before closing. Exterior improvements include a new rear deck and staircase, off-street parking, and a two-story detached garage suitable for storage or workshop use. Electric service has been separated; water and gas are prepared for separate meters but currently share one meter each. The property is located at 262 Zerby Ave in Kingston, PA 18704.
The second-floor residence has a remodeled kitchen with granite countertops, new cabinetry, oak flooring, and a finished bathroom with a tile shower and laundry. A third-floor bathroom is scheduled for completion by the seller before closing. Exterior improvements include a new rear deck and staircase, off-street parking, and a two-story detached garage suitable for storage or workshop use. Electric service has been separated; water and gas are prepared for separate meters but currently share one meter each. The property is located at 262 Zerby Ave in Kingston, PA 18704.
Key Highlights
- 2,863 SF duplex configured as two units
- Interior connection allows conversion to single‑family use
- New electrical, plumbing, roof, and windows
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
$23,105
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
6.51%
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%
$462,100
$462.1K
Cap Rate 7%
$330,071
$330.1K
Cap Rate 9%
$256,722
$256.7K
Market Conditions
NOI Build-Up for 2,863 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
$36.1K $12.60/SF
− Vacancy
−$3.1K −$1.07/SF
EGI
$33.0K $11.53/SF
− OpEx
−$9.9K −$3.46/SF
NOI
$23.1K $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%
$462,100
Cap Rate 7%
$330,071
Cap Rate 9%
$256,722
Alternative Uses
Best Use
Multifamily LT 5
$330.1K
$288.8K – $385.1K
NOI $23,105 @ 7.0% cap · market cap 6.51%
Second Best
Apartment 5plus
$306.1K
$267.9K – $357.2K
NOI $21,429 @ 7.0% cap · market cap 6.04%
Theoretical Best
Office A
$907.0K
$793.6K – $1.06M
NOI $63,490 @ 7.0% cap · market cap 17.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 18704, PA
31,138
Population
14,531
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
10.1 sq mi
ZIP Area
3,083
Density / Sq Mi
$62,907
Median Household Income
$39,349
Median Earnings
$935
Median Rent
$154,600
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 - Flexible two-unit configuration includes separated electric, off-street parking, and a two-story detached garage.
Where is this duplex located?
The property is located at 262 Zerby Ave Kingston, PA.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: 2,863 SF duplex configured as two units; Interior connection allows conversion to single‑family use; New electrical, plumbing, roof, and windows
