Two-Home Duplex
For Sale
$439,000
401 & 405 Daleville Hwy, Covington Twp, PA 18444
Separate ranch-style residences support owner occupancy, rental use, or multigenerational living.
Property Size2,744 SF
Price / SF$159.99
Days on Market79
Property Features for 401 & 405 Daleville Hwy
General Information
Standard status
Active
Size
2,744 SF
Property subtype
Multi-Family
Building Details
Year Built
1940
Listing Agency:
eXp Realty- Scranton/Wilkes-Barre
(570) 793-1232
Listed By:
Jason Giomboni Team
Source:
Nepahousehunt
Added: Jun 12
Changed: Aug 28
Last Checked: Aug 28 at 8:20PM
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.
This 2.5-acre duplex property includes two ranch-style residences built in 1940. The larger home at 405 Daleville Hwy contains 1,800 square feet with 3 bedrooms, 1.5 baths, a sunroom, central air, and a one-car garage. The 1,000-square-foot residence at 401 Daleville Hwy offers 2 bedrooms, 1 bath, a covered patio, porch, and one-car garage. Both homes have new roofs, while the property also includes two propane fireplaces, electric baseboard heat installed 4 years ago, and a shared well.
The 405 Daleville residence is owner occupied. The 401 Daleville residence is tenant occupied on a month-to-month basis, and the tenant would like to remain. The property is within the North Pocono School District and approximately 15 minutes from downtown Scranton and Mount Pocono, with shopping, restaurants, schools, and major commuter routes nearby.
The 405 Daleville residence is owner occupied. The 401 Daleville residence is tenant occupied on a month-to-month basis, and the tenant would like to remain. The property is within the North Pocono School District and approximately 15 minutes from downtown Scranton and Mount Pocono, with shopping, restaurants, schools, and major commuter routes nearby.
Key Highlights
- 2.5‑acre property with two ranch‑style homes
- 405 Daleville Hwy: 1,800 sq ft, 3 bedrooms, 1.5 baths, sunroom, central air
- 401 Daleville Hwy: 1,000 sq ft, 2 bedrooms, 1 bath, covered patio and porch
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
$22,629
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
5.15%
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%
$452,580
$452.6K
Cap Rate 7%
$323,271
$323.3K
Cap Rate 9%
$251,433
$251.4K
Market Conditions
NOI Build-Up for 2,744 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
$34.6K $12.60/SF
− Vacancy
−$2.2K −$0.82/SF
EGI
$32.3K $11.78/SF
− OpEx
−$9.7K −$3.53/SF
NOI
$22.6K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
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%
$452,580
Cap Rate 7%
$323,271
Cap Rate 9%
$251,433
Alternative Uses
Best Use
Multifamily LT 5
$323.3K
$282.9K – $377.2K
NOI $22,629 @ 7.0% cap · market cap 5.15%
Second Best
Apartment 5plus
$302.2K
$264.4K – $352.6K
NOI $21,154 @ 7.0% cap · market cap 4.82%
Theoretical Best
Office A
$696.5K
$609.4K – $812.6K
NOI $48,753 @ 7.0% cap · market cap 11.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
63
Businesses Nearby
Explore this area
Business Placement
Demographics for 18444, PA
13,540
Population
5,954
Households
2.3
Avg Household Size
46
Median Age
33%
College-Educated
94%
High-School Grad
105.1 sq mi
ZIP Area
129
Density / Sq Mi
$84,919
Median Household Income
$49,188
Median Earnings
$1,015
Median Rent
$249,400
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 - Separate ranch-style residences support owner occupancy, rental use, or multigenerational living.
Where is this duplex located?
The property is located at 401 & 405 Daleville Hwy Covington Twp, PA.
What is the asking price?
The asking price for this property is $439,000.
What are key features of this property?
This property features: 2.5‑acre property with two ranch‑style homes; 405 Daleville Hwy: 1,800 sq ft, 3 bedrooms, 1.5 baths, sunroom, central air; 401 Daleville Hwy: 1,000 sq ft, 2 bedrooms, 1 bath, covered patio and porch
