Two-Unit Apartment
For Sale
$275,000
307 N Main Street Wilkes-Barre, Wilkes Barre, PA 18702
Each apartment offers a covered outdoor area and individual laundry space in a shared basement.
Property Size2,376 SF
Days on Market32
Property Features for 307 N Main Street Wilkes-Barre
General Information
Standard status
Active
Size
2,376 SF
Property subtype
Duplex
Taxes and HOA fees
Annual Taxes
$1,530
Building Details
Building Size
2,376 SF
Listing Agency:
Pocono Area Realty Benz Group LLC
(570) 216-8545
Listed By:
Teresa Benz · License #RM423800
Source:
Luxehomesnepa
Added: Jul 24
Changed: Aug 24
Last Checked: Aug 23 at 6:23AM
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 Pocono Area Realty Benz Group LLC
Investment Insights
Based on property information with market context.
This two-unit apartment property includes matching layouts, with each apartment providing 2 bedrooms and 1 bathroom. Both units have private covered porch or balcony areas. A shared basement includes separate laundry areas for each apartment, and an easement along the side of the property leads to a rear storage building.
Both floors are currently occupied by tenants. Residents pay their own utilities, while the landlord covers water and sewer service. The property is near Kings College and Downtown WB in Wilkes Barre.
Both floors are currently occupied by tenants. Residents pay their own utilities, while the landlord covers water and sewer service. The property is near Kings College and Downtown WB in Wilkes Barre.
Key Highlights
- Two apartment units, each with 2 bedrooms and 1 bathroom
- Private covered porch or balcony areas for both units
- Shared basement with individual laundry areas
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
$19,175
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
6.97%
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%
$383,500
$383.5K
Cap Rate 7%
$273,929
$273.9K
Cap Rate 9%
$213,056
$213.1K
Market Conditions
NOI Build-Up for 2,376 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
$29.9K $12.60/SF
− Vacancy
−$2.5K −$1.07/SF
EGI
$27.4K $11.53/SF
− OpEx
−$8.2K −$3.46/SF
NOI
$19.2K $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%
$383,500
Cap Rate 7%
$273,929
Cap Rate 9%
$213,056
Alternative Uses
Best Use
Multifamily LT 5
$273.9K
$239.7K – $319.6K
NOI $19,175 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$254.1K
$222.3K – $296.4K
NOI $17,784 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$752.7K
$658.6K – $878.2K
NOI $52,690 @ 7.0% cap · market cap 19.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
411
Businesses Nearby
Explore this area
Business Placement
Demographics for 18702, PA
42,133
Population
19,738
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
78.1 sq mi
ZIP Area
539
Density / Sq Mi
$54,892
Median Household Income
$36,911
Median Earnings
$971
Median Rent
$115,700
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 - Each apartment offers a covered outdoor area and individual laundry space in a shared basement.
Where is this duplex located?
The property is located at 307 N Main Street Wilkes-Barre Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two apartment units, each with 2 bedrooms and 1 bathroom; Private covered porch or balcony areas for both units; Shared basement with individual laundry areas
