Side-by-Side Duplex with Tenant
For Sale
$290,000
Pending
326-328 New Hancock Street, Wilkes Barre, PA 18702
Side-by-side duplex with tenant-occupied units and separate utilities, totaling seven bedrooms and three full baths.
Property Size3,000 SF
Days on Market90
Property Features for 326-328 New Hancock Street
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Multi-Family / Fee Simple
Zoning
RESIDENTIAL
Taxes and HOA fees
Annual Taxes
$3,279
Amenities
No Pool
Building Details
Year Built
1925
Listing Agency:
Wychock Real Estate, LLC
Listed By:
Steven Rafael Betances Diaz · License #RS366056
(570) 582-3617
Source:
Compass
Added: Jun 10
Changed: Aug 8
Last Checked: Jul 24 at 12:35PM
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 Wychock Real Estate, LLC
Investment Insights
Based on property information with market context.
This side-by-side duplex offers over 2,900 square feet of living space with a total of seven bedrooms and three full baths. Both units are currently tenant occupied and generate $2,900 per month in rental income, with separate utilities. A finished upper-level attic area provides additional space for storage, recreation, or other permitted uses.
The property is located in Luzerne County, in the Wilkes Barre City area (13773), within the Wilkes-Barre Area School District.
For sale as an investor or owner-occupant opportunity, the duplex provides two separate, tenant-occupied units with separate utilities and an added finished attic area for flexibility.
The property is located in Luzerne County, in the Wilkes Barre City area (13773), within the Wilkes-Barre Area School District.
For sale as an investor or owner-occupant opportunity, the duplex provides two separate, tenant-occupied units with separate utilities and an added finished attic area for flexibility.
Key Highlights
- Spacious side‑by‑side duplex with 2,900+ sq ft, featuring 7 bedrooms and 3 full baths
- Both units are tenant occupied and collect $2,900/month in rental income
- Separate utilities for each 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
$24,211
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
8.35%
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%
$484,220
$484.2K
Cap Rate 7%
$345,871
$345.9K
Cap Rate 9%
$269,011
$269.0K
Market Conditions
NOI Build-Up for 3,000 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
$37.8K $12.60/SF
− Vacancy
−$3.2K −$1.07/SF
EGI
$34.6K $11.53/SF
− OpEx
−$10.4K −$3.46/SF
NOI
$24.2K $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%
$484,220
Cap Rate 7%
$345,871
Cap Rate 9%
$269,011
Alternative Uses
Best Use
Multifamily LT 5
$345.9K
$302.6K – $403.5K
NOI $24,211 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$320.8K
$280.7K – $374.2K
NOI $22,454 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$950.4K
$831.6K – $1.11M
NOI $66,528 @ 7.0% cap · market cap 22.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,069
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 - Side-by-side duplex with tenant-occupied units and separate utilities, totaling seven bedrooms and three full baths.
Where is this duplex located?
The property is located at 326-328 New Hancock Street Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Spacious side‑by‑side duplex with 2,900+ sq ft, featuring 7 bedrooms and 3 full baths; Both units are tenant occupied and collect $2,900/month in rental income; Separate utilities for each unit
