Three-Unit Triplex with Two-Car
For Sale
$289,000
Pending
409 Broad Street, Honesdale, PA 18431
MULTI_FAMILY - Honesdale, PA
Property Size2,100 SF
Lot Size0.27 Acres
Days on Market49
Property Features for 409 Broad Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Zoning description
Residential
Bedrooms
5
Bathrooms
4
Full bathrooms
3
Half bathrooms
1
Rooms
Bathroom 4, Bedroom 1, Bathroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Basement, Bedroom 5, Bedroom 3, Bedroom 4
Parking features
Garage
Basement
Full, Finished, Walk-Out Access
Elementary school district
Wayne Highlands
Middle school district
Wayne Highlands
High school district
Wayne Highlands
Directions
Terrace Street to Ridge Street to left on Broad Street. Follow to end. Property in center of cul-de-sac.
Standard status
Pending
APN
11-0-0008-0080.0001
Size
2,100 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
4819
Utilities
Sewer type
Public Sewer
Heating system
Propane (Heating), Electric (Heating)
Water source
Public
Building Details
Year built
1971
Floors in Building
2
Number of units
3
Listing Agency:
Davis R. Chant - Lake Wallenpaupack
(570) 226-4518
Listed By:
Lorraine Collins, Associate Broker · License #AB067437
(570) 226-4518
Added: Jun 30
Changed: Aug 1
Last Checked: Aug 17 at 5:06AM
MLS# PW-262146
Copyright © 2026 Pike/Wayne Association 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 three-unit triplex at 409 Broad Street features a split layout designed for both rental income and flexible living. The main level is a spacious 3-bedroom ranch, and the lower level includes two separate apartment units. The property has a large parking area for tenants and guests and an attached two-car garage for additional storage or workspace.
Set on a 0.27-acre lot, the building totals 2,100 square feet and was built in 1971. It is heated by propane and electric systems, and is served by public water and public sewer. A new roof was installed in June of 2026.
The location sits just outside Honesdale, within the Wayne Highlands School District, offering convenient access to shopping, restaurants, schools, healthcare, and everyday needs while keeping a more peaceful setting.
Set on a 0.27-acre lot, the building totals 2,100 square feet and was built in 1971. It is heated by propane and electric systems, and is served by public water and public sewer. A new roof was installed in June of 2026.
The location sits just outside Honesdale, within the Wayne Highlands School District, offering convenient access to shopping, restaurants, schools, healthcare, and everyday needs while keeping a more peaceful setting.
Key Highlights
- 0.27‑acre lot with a total building area of 2,100 SF
- Three‑unit layout: main‑level 3‑bedroom ranch plus two separate lower apartment units
- New roof installed June 2026
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
$22,844
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
7.90%
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%
$456,880
$456.9K
Cap Rate 7%
$326,343
$326.3K
Cap Rate 9%
$253,822
$253.8K
Market Conditions
NOI Build-Up for 2,100 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
$35.3K $16.80/SF
− Vacancy
−$2.6K −$1.26/SF
EGI
$32.6K $15.54/SF
− OpEx
−$9.8K −$4.66/SF
NOI
$22.8K $10.88/SF
Area
Wayne County, PA
Vacancy
7.50%
Lease Rate
$16.80 /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%
$456,880
Cap Rate 7%
$326,343
Cap Rate 9%
$253,822
Alternative Uses
Best Use
Multifamily LT 5
$326.3K
$285.6K – $380.7K
NOI $22,844 @ 7.0% cap · market cap 7.90%
Second Best
Apartment 5plus
$282.7K
$247.3K – $329.8K
NOI $19,786 @ 7.0% cap · market cap 6.85%
Theoretical Best
Office A
$512.1K
$448.1K – $597.4K
NOI $35,844 @ 7.0% cap · market cap 12.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
Explore this area
Business Placement
Demographics for 18431, PA
12,602
Population
6,217
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
90%
High-School Grad
134.8 sq mi
ZIP Area
93
Density / Sq Mi
$55,323
Median Household Income
$33,298
Median Earnings
$1,013
Median Rent
$222,000
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit triplex with public water and public sewer in Residential zoning.
Where is this triplex located?
The property is located at 409 Broad Street Honesdale, PA.
What is the asking price?
The asking price for this property is $289,000.
What are key features of this property?
This property features: 0.27‑acre lot with a total building area of 2,100 SF; Three‑unit layout: main‑level 3‑bedroom ranch plus two separate lower apartment units; New roof installed June 2026
