Updated Duplex with Two-Car
New
For Sale
$274,995
31 Butler Street, Old Forge, PA 18518
Two separate units feature new kitchens, updated flooring, and a recently installed boiler.
Property Size2,650 SF
Days on Market6
Property Features for 31 Butler Street
General Information
Standard status
Active
Size
2,650 SF
Total Parking Spaces
2
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,128
Building Details
Building Size
2,650 SF
Year Built
1940
Listing Agency:
The Hub Real Estate Group Scranton
Listed By:
Pat Rogan · License #RS329526
(570) 906-4344
Source:
Luxehomesnepa
Added: Oct 23
Changed: Oct 27
Last Checked: Oct 27 at 3:54AM
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 The Hub Real Estate Group Scranton
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Investment Insights
Based on property information with market context.
This up-and-down duplex contains two units, each with a new kitchen equipped with granite countertops and stainless steel appliances. New flooring extends throughout the property, and a new boiler serves the building. A two-car garage is also included. Built in 1940, the property offers a two-unit residential configuration with substantial interior updates.
Key Highlights
- Two‑unit up‑and‑down duplex
- Both kitchens have granite countertops and stainless steel appliances
- New flooring throughout the property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,854
Cap Rate
7.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,080
$437.1K
Cap Rate 7%
$312,200
$312.2K
Cap Rate 9%
$242,822
$242.8K
Market Conditions
NOI Build-Up for 2,650 SF
Gross rent
$33.4K $12.60/SF
− Vacancy
−$2.2K −$0.82/SF
EGI
$31.2K $11.78/SF
− OpEx
−$9.4K −$3.53/SF
NOI
$21.9K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$437,080
Cap Rate 7%
$312,200
Cap Rate 9%
$242,822
Alternative Uses
Best Use
Multifamily LT 5
$312.2K
$273.2K – $364.2K
NOI $21,854 @ 7.0% cap · market cap 7.95%
Second Best
Apartment 5plus
$291.9K
$255.4K – $340.5K
NOI $20,430 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$672.6K
$588.5K – $784.7K
NOI $47,083 @ 7.0% cap · market cap 17.12%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
452
Businesses Nearby
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Business Placement
Demographics for 18518, PA
8,497
Population
3,949
Households
2.2
Avg Household Size
46
Median Age
32%
College-Educated
94%
High-School Grad
4.0 sq mi
ZIP Area
2,124
Density / Sq Mi
$73,258
Median Household Income
$44,586
Median Earnings
$862
Median Rent
$169,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate units feature new kitchens, updated flooring, and a recently installed boiler.
Where is this duplex located?
The property is located at 31 Butler Street Old Forge, PA.
What is the asking price?
The asking price for this property is $274,995.
What are key features of this property?
This property features: Two‑unit up‑and‑down duplex; Both kitchens have granite countertops and stainless steel appliances; New flooring throughout the property
