Fully Occupied
For Sale
$449,900
Pending
530-532 Carey Ave, Wilkes Barre, PA 18702
Residential income property near shopping, dining, major roadways, and everyday amenities.
Property Size3,500 SF
Days on Market23
Property Features for 530-532 Carey Ave
General Information
Standard status
Pending
Size
3,500 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
4
Listing Agency:
eXp NEPA
Listed By:
Team Jesicca Skoloda
(570) 237-0463
Source:
Nepahousehunt
Added: Aug 25
Changed: Sep 15
Last Checked: Sep 15 at 12:19PM
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 NEPA
Investment Insights
Based on property information with market context.
This quadplex contains four residential units and is fully occupied, providing an existing income-producing configuration. The property encompasses 3,500 square feet at 530-532 Carey Ave in Wilkes-Barre, Pennsylvania.
The location offers access to shopping, dining, major roadways, and everyday amenities. Its four-unit layout and current occupancy make it a straightforward addition to a residential income property portfolio.
The location offers access to shopping, dining, major roadways, and everyday amenities. Its four-unit layout and current occupancy make it a straightforward addition to a residential income property portfolio.
Key Highlights
- Four‑unit residential income property
- Fully occupied configuration
- 3,500 square feet
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
$28,246
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
6.28%
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%
$564,920
$564.9K
Cap Rate 7%
$403,514
$403.5K
Cap Rate 9%
$313,844
$313.8K
Market Conditions
NOI Build-Up for 3,500 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
$44.1K $12.60/SF
− Vacancy
−$3.7K −$1.07/SF
EGI
$40.4K $11.53/SF
− OpEx
−$12.1K −$3.46/SF
NOI
$28.2K $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%
$564,920
Cap Rate 7%
$403,514
Cap Rate 9%
$313,844
Alternative Uses
Best Use
Multifamily LT 5
$403.5K
$353.1K – $470.8K
NOI $28,246 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$374.2K
$327.5K – $436.6K
NOI $26,197 @ 7.0% cap · market cap 5.82%
Theoretical Best
Office A
$1.11M
$970.2K – $1.29M
NOI $77,616 @ 7.0% cap · market cap 17.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
748
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?
Quadplex - Residential income property near shopping, dining, major roadways, and everyday amenities.
Where is this quadplex located?
The property is located at 530-532 Carey Ave Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: Four‑unit residential income property; Fully occupied configuration; 3,500 square feet
