Five-Unit Apartment Building with
For Sale
$564,900
343 Smith Street, Dunmore, PA 18512
Residential Income, Dunmore, PA
Property Size5,500 SF
Lot Size0.13 Acres
Price / SF$102.71
Days on Market102
Property Features for 343 Smith Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C
Bedrooms
11
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 3, Bedroom 10, Bathroom 4, Bedroom 7, Bedroom 4, Bedroom 2, Bathroom 3, Bedroom 6, Bedroom 5, Bedroom 9, Bathroom 1, Bedroom 1, Bedroom 11, Bathroom 2, Bedroom 8, Bathroom 5
Parking features
On Street, Off Street, Alley
Appliances
Dishwasher, Washer, Refrigerator, Electric Oven, Dryer
Elementary school district
Dunmore
Middle school district
Dunmore
High school district
Dunmore
Directions
Drinker st to smith, home is on left 3 blocks in.
Standard status
Active
APN
14616060058
Size
5,500 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
73X91x71x89 Bldg & Land W-02 B-0160 L-0020 P-00400 -Taxes for school unknown -MLS has 2025 school, 2026 county and muni
Tax Annual Amount
2965
Legal Description
73X91x71x89 Bldg & Land W-02 B-0160 L-0020 P-00400 -Taxes for school unknown -MLS has 2025 school, 2026 county and muni
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Electric (Heating), Varies by Unit (Heating)
Cooling system
Ceiling Fan(s), Window Unit(s)
Water source
Public
Amenities
shared laundry room
Building Details
Year built
1940
Floors in Building
3
Number of units
5
Flooring type
Carpet, Linoleum, Tile, Combination
Roof type
Shingle
Architectural style
Other
Listing Agency:
Christian Saunders Real Estate
(800) 372-4222
Listed By:
Robert Connors · License #RS342012
(570) 614-3624
Added: Jun 17
Changed: Sep 12
Last Checked: Sep 26 at 9:06PM
MLS# SC262944
Copyright © 2026 Greater Scranton Board of Realtors MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This five-unit apartment building, constructed in 1940, includes an attached garage and a mix of on-street, off-street, and alley parking. Unit interiors feature carpet, linoleum, tile, and combination flooring, along with ceiling fans and window air-conditioning units. Appliances include refrigerators, electric ovens, dishwashers, washers, and dryers.
The property is served by public water and public sewer. Electrical service is separately metered, while the owner covers water and natural gas. Heating varies by unit, with natural gas baseboard systems and electric heat, including electric baseboard heat in three units. Two units share a laundry room, while the remaining units have individual laundry facilities. The main shingle roof is stated to be approximately 5 years old. The property is located in Dunmore, Pennsylvania, and carries C zoning.
The property is served by public water and public sewer. Electrical service is separately metered, while the owner covers water and natural gas. Heating varies by unit, with natural gas baseboard systems and electric heat, including electric baseboard heat in three units. Two units share a laundry room, while the remaining units have individual laundry facilities. The main shingle roof is stated to be approximately 5 years old. The property is located in Dunmore, Pennsylvania, and carries C zoning.
Key Highlights
- Five‑unit apartment property on a 0.13‑acre lot
- Attached garage plus on‑street, off‑street, and alley parking
- Main shingle roof stated to be approximately 5 years old
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
$42,401
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
7.51%
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%
$848,020
$848.0K
Cap Rate 7%
$605,729
$605.7K
Cap Rate 9%
$471,122
$471.1K
Market Conditions
NOI Build-Up for 5,500 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
$81.8K $14.88/SF
− Vacancy
−$4.7K −$0.86/SF
EGI
$77.1K $14.02/SF
− OpEx
−$34.7K −$6.31/SF
NOI
$42.4K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$848,020
Cap Rate 7%
$605,729
Cap Rate 9%
$471,122
Alternative Uses
Best Use
Apartment 5plus
$605.7K
$530.0K – $706.7K
NOI $42,401 @ 7.0% cap · market cap 7.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.40M
$1.22M – $1.63M
NOI $97,720 @ 7.0% cap · market cap 17.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
873
Businesses Nearby
Explore this area
Business Placement
Demographics for 18512, PA
12,081
Population
6,272
Households
1.9
Avg Household Size
44
Median Age
29%
College-Educated
92%
High-School Grad
11.3 sq mi
ZIP Area
1,069
Density / Sq Mi
$63,097
Median Household Income
$43,249
Median Earnings
$927
Median Rent
$173,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Apartment property with mixed heating, public utilities, and multiple parking options including alley access.
Where is this apartment building located?
The property is located at 343 Smith Street Dunmore, PA.
What is the asking price?
The asking price for this property is $564,900.
What are key features of this property?
This property features: Five‑unit apartment property on a 0.13‑acre lot; Attached garage plus on‑street, off‑street, and alley parking; Main shingle roof stated to be approximately 5 years old
