Renovated
For Sale
$359,900
301-303 S Hancock Street Wilkes-Barre, Wilkes Barre, PA 18705
Two updated residences feature open living areas, modern kitchens, and finished attic rooms.
Property Size2,858 SF
Days on Market9
Property Features for 301-303 S Hancock Street Wilkes-Barre
General Information
Standard status
Active
Size
2,858 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,531
Building Details
Building Size
2,858 SF
Listing Agency:
Avanti Real Estate Group
Listed By:
Marlena Gocek
(570) 239-5425
Source:
Luxehomesnepa
Added: Sep 9
Changed: Sep 15
Last Checked: Sep 17 at 3:56AM
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 Avanti Real Estate Group
Investment Insights
Based on property information with market context.
This renovated duplex contains two separate living spaces, each arranged for practical household use. Both sides offer a modern kitchen with quartz countertops and tile backsplashes connected to an open living and dining area. Each unit also includes a first-floor laundry room and pantry combination, a half bath, two second-floor bedrooms, closet space, and a bonus office. Finished attic areas add three rooms per side, including a room with a closet.
Outdoor features include a fully fenced backyard, deck, and front porch. A rear alleyway may provide an opportunity for off-street parking. The property is located at 301-303 S Hancock Street in Wilkes-Barre, Pennsylvania, and is suited to an owner-occupant arrangement, extended-family living, or operation as a two-unit residential property.
Outdoor features include a fully fenced backyard, deck, and front porch. A rear alleyway may provide an opportunity for off-street parking. The property is located at 301-303 S Hancock Street in Wilkes-Barre, Pennsylvania, and is suited to an owner-occupant arrangement, extended-family living, or operation as a two-unit residential property.
Key Highlights
- Two‑unit duplex with fully renovated living spaces
- Each unit includes a modern kitchen with quartz countertops and tile backsplash
- Two bedrooms, bonus office, and three finished attic rooms per unit
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
$23,065
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
6.41%
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%
$461,300
$461.3K
Cap Rate 7%
$329,500
$329.5K
Cap Rate 9%
$256,278
$256.3K
Market Conditions
NOI Build-Up for 2,858 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
$36.0K $12.60/SF
− Vacancy
−$3.1K −$1.07/SF
EGI
$32.9K $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%
$461,300
Cap Rate 7%
$329,500
Cap Rate 9%
$256,278
Alternative Uses
Best Use
Multifamily LT 5
$329.5K
$288.3K – $384.4K
NOI $23,065 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$305.6K
$267.4K – $356.5K
NOI $21,392 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$905.4K
$792.2K – $1.06M
NOI $63,379 @ 7.0% cap · market cap 17.61%
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
1,155
Businesses Nearby
Explore this area
Business Placement
Demographics for 18705, PA
14,832
Population
7,268
Households
2
Avg Household Size
44
Median Age
23%
College-Educated
88%
High-School Grad
5.0 sq mi
ZIP Area
2,966
Density / Sq Mi
$61,293
Median Household Income
$35,965
Median Earnings
$1,006
Median Rent
$122,800
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 updated residences feature open living areas, modern kitchens, and finished attic rooms.
Where is this duplex located?
The property is located at 301-303 S Hancock Street Wilkes-Barre Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $359,900.
What are key features of this property?
This property features: Two‑unit duplex with fully renovated living spaces; Each unit includes a modern kitchen with quartz countertops and tile backsplash; Two bedrooms, bonus office, and three finished attic rooms per unit
