Two-Unit Corner-Lot
New
For Sale
$205,000
38 W Columbus Ave, Pittston, PA 18640
Two-level duplex with off-street parking, basement access, and separate residential layouts.
Property Size1,550 SF
Price / SF$132.26
Days on Market3
Property Features for 38 W Columbus Ave
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Units
Unit Mix
1 x 3BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
off-street parking
washer/dryer hookup
porches
basement
Building Details
Year Built
1930
Listing Agency:
C21 Jack Ruddy Real Estate
Listed By:
James Caceres
(570) 352-7106
Source:
Revolvepa
Added: Sep 15
Changed: Sep 16
Last Checked: Sep 17 at 5:51AM
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 C21 Jack Ruddy Real Estate
Investment Insights
Based on property information with market context.
This 1,550-square-foot duplex, built in 1930, contains two residential units. The first-floor apartment offers three bedrooms and one bathroom, along with two porches, kitchen washer and dryer hookups, and interior access to the basement. The second-floor apartment includes one bedroom and one bathroom.
The property occupies a corner lot at 38 W Columbus Ave in Pittston and includes off-street parking. The interiors require some updating, presenting a residential income property with distinct unit configurations and existing basement access.
The property occupies a corner lot at 38 W Columbus Ave in Pittston and includes off-street parking. The interiors require some updating, presenting a residential income property with distinct unit configurations and existing basement access.
Key Highlights
- Two‑unit duplex with 1,550 square feet of property size
- First‑floor unit with 3 bedrooms and 1 bath
- Second‑floor apartment with 1 bedroom and 1 bath
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
$12,509
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
6.10%
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%
$250,180
$250.2K
Cap Rate 7%
$178,700
$178.7K
Cap Rate 9%
$138,989
$139.0K
Market Conditions
NOI Build-Up for 1,550 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
$19.5K $12.60/SF
− Vacancy
−$1.7K −$1.07/SF
EGI
$17.9K $11.53/SF
− OpEx
−$5.4K −$3.46/SF
NOI
$12.5K $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%
$250,180
Cap Rate 7%
$178,700
Cap Rate 9%
$138,989
Alternative Uses
Best Use
Multifamily LT 5
$178.7K
$156.4K – $208.5K
NOI $12,509 @ 7.0% cap · market cap 6.10%
Second Best
Apartment 5plus
$165.7K
$145.0K – $193.4K
NOI $11,601 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$491.0K
$429.7K – $572.9K
NOI $34,373 @ 7.0% cap · market cap 16.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
849
Businesses Nearby
Explore this area
Business Placement
Demographics for 18640, PA
16,351
Population
8,036
Households
2
Avg Household Size
46
Median Age
25%
College-Educated
94%
High-School Grad
27.9 sq mi
ZIP Area
586
Density / Sq Mi
$57,358
Median Household Income
$39,733
Median Earnings
$890
Median Rent
$135,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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?
Duplex - Two-level duplex with off-street parking, basement access, and separate residential layouts.
Where is this duplex located?
The property is located at 38 W Columbus Ave Pittston, PA.
What is the asking price?
The asking price for this property is $205,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,550 square feet of property size; First‑floor unit with 3 bedrooms and 1 bath; Second‑floor apartment with 1 bedroom and 1 bath
