Building Details

Year Built 1930

Listing Agency: C21 Jack Ruddy Real Estate

Listed By: James Caceres Show Phone

Source: Revolvepa

Added: Sep 15 Changed: Oct 26 Last Checked: Nov 1 at 3:09PM

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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

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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.

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 / Yr

$12,509

Cap Rate

6.10%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$250,180 $250.2K

Cap Rate 7%

$178,700 $178.7K

Cap Rate 9%

$138,989 $139.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,550 SF

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 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 (±1% cap)

NOI $12,509 @ 7.0% cap · market cap 6.10%

Second Best

Apartment 5plus

$165.7K

$145.0K – $193.4K (±1% cap)

NOI $11,601 @ 7.0% cap · market cap 5.66%

Theoretical Best

Office A

$491.0K

$429.7K – $572.9K (±1% cap)

NOI $34,373 @ 7.0% cap · market cap 16.77%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

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

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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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