Duplex With Owner-Occupant
New
For Sale
$259,900
38-40 S Sherman Street Wilkes-Barre, Wilkes Barre, PA 18702
Two-unit residential property with one available side, updated boiler service, spacious living areas, bedrooms, and a yard.
Property Size2,481 SF
Days on Market5
Property Features for 38-40 S Sherman Street Wilkes-Barre
General Information
Standard status
Active
Size
2,481 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,544
Building Details
Building Size
2,481 SF
Year Built
1900
Listing Agency:
eXp Realty- Scranton/Wilkes-Barre
(570) 905-4300
Listed By:
David Kuharchik
Source:
Luxehomesnepa
Added: Aug 1
Changed: Aug 5
Last Checked: Aug 5 at 4:14AM
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 eXp Realty- Scranton/Wilkes-Barre
Investment Insights
Based on property information with market context.
Built in 1900, this duplex contains two residential sides with generously sized living rooms and bedrooms. One side is vacant, creating an owner-occupant option while the other side remains part of the two-unit configuration. Recent boiler servicing supports the property’s mechanical upkeep, and the parcel includes a yard. Showings require 24 hours’ notice.
Key Highlights
- Two‑unit duplex built in 1900
- One side is currently vacant for an owner‑occupant option
- Spacious living rooms and bedrooms on each side
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.3k | $12.60 |
| − Vacancy | −$2.7k | −$1.07 |
| EGI | $28.6k | $11.53 |
| − OpEx | −$8.6k | −$3.46 |
| NOI | $20.0k | $8.07 |
2,481 SF · lease $12.60/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$286.0K
$250.3K – $333.7K
NOI $20,022 @ 7.0% cap · market cap 7.70%
Second Best
Apartment 5plus
$265.3K
$232.1K – $309.5K
NOI $18,570 @ 7.0% cap · market cap 7.15%
Theoretical Best
Office A
$786.0K
$687.7K – $917.0K
NOI $55,019 @ 7.0% cap · market cap 21.17%
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
1,354
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 - Two-unit residential property with one available side, updated boiler service, spacious living areas, bedrooms, and a yard.
Where is this duplex located?
The property is located at 38-40 S Sherman Street Wilkes-Barre Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two‑unit duplex built in 1900; One side is currently vacant for an owner‑occupant option; Spacious living rooms and bedrooms on each side
