Multifamily Property with Separate
For Sale
$489,900
535 Chestnut Street, Dunmore, PA 18512
MULTI_FAMILY - Dunmore, PA
Property Size4,962 SF
Lot Size0.13 Acres
Price / SF$98.73
Days on Market50
Property Features for 535 Chestnut Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
10
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 7, Bathroom 3, Basement, Bedroom 9, Bedroom 10, Bedroom 8, Bedroom 4, Bathroom 1, Bedroom 5, Bathroom 4, Bedroom 1
Parking
6
Basement
Full
Elementary school district
Dunmore
Middle school district
Dunmore
High school district
Dunmore
Directions
Drinker St To Chestnut Street, property on corner of chestnut and somers
Standard status
Active
APN
14620020001
Size
4,962 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3112
Building Details
Year built
1940
Floors in Building
2
Number of units
4
Listing Agency:
Christian Saunders Real Estate
(800) 372-4222
Listed By:
Christian Saunders · License #RM424906
(570) 947-3292
Added: Jun 24
Changed: Aug 4
Last Checked: Aug 12 at 9:06AM
MLS# SC262985
Copyright © 2026 Greater Scranton Board 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 for-sale, two-building income property totals four units, featuring a three-unit apartment building at 535 Chestnut Street and a separate single-family ranch home at 103 Somers Street with a built-in garage beneath. In the three-unit building, each unit has its own separate electric service, while the landlord currently pays heat and water/sewer. The single-family residence is served by its own separate utilities.
The property is situated on a corner setting at Chestnut Street and Somers Street in Dunmore, PA. The listing notes convenient proximity to local amenities, shopping, and major transportation routes.
The existing unit mix and utility arrangements may appeal to investors looking for an established residential income package with multiple configurations under one ownership. The property is reported to be occupied by long-term tenants, supporting continuity of occupancy. With both a multi-unit structure and an attached separate single-family home within the offering, this setup can also suit buyers seeking to diversify unit type while maintaining a single management point of focus.
The property is situated on a corner setting at Chestnut Street and Somers Street in Dunmore, PA. The listing notes convenient proximity to local amenities, shopping, and major transportation routes.
The existing unit mix and utility arrangements may appeal to investors looking for an established residential income package with multiple configurations under one ownership. The property is reported to be occupied by long-term tenants, supporting continuity of occupancy. With both a multi-unit structure and an attached separate single-family home within the offering, this setup can also suit buyers seeking to diversify unit type while maintaining a single management point of focus.
Key Highlights
- Multi‑building income property with four total units: 535 Chestnut St (three‑unit) and 103 Somers St (single‑family ranch)
- Three‑unit building offers separate electric service for each unit
- Landlord currently pays heat and water/sewer for the three‑unit building
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
$40,920
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
8.35%
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%
$818,400
$818.4K
Cap Rate 7%
$584,571
$584.6K
Cap Rate 9%
$454,667
$454.7K
Market Conditions
NOI Build-Up for 4,962 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
$62.5K $12.60/SF
− Vacancy
−$4.1K −$0.82/SF
EGI
$58.5K $11.78/SF
− OpEx
−$17.5K −$3.53/SF
NOI
$40.9K $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%
$818,400
Cap Rate 7%
$584,571
Cap Rate 9%
$454,667
Alternative Uses
Best Use
Multifamily LT 5
$584.6K
$511.5K – $682.0K
NOI $40,920 @ 7.0% cap · market cap 8.35%
Second Best
Apartment 5plus
$546.5K
$478.2K – $637.6K
NOI $38,254 @ 7.0% cap · market cap 7.81%
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,161 @ 7.0% cap · market cap 18.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
867
Businesses Nearby
Explore this area
Business Placement
Demographics for 18512, PA
12,081
Population
6,272
Households
1.9
Avg Household Size
44
Median Age
29%
College-Educated
92%
High-School Grad
11.3 sq mi
ZIP Area
1,069
Density / Sq Mi
$63,097
Median Household Income
$43,249
Median Earnings
$927
Median Rent
$173,500
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?
Triplex - Two-building package with a three-unit apartment and single-family ranch, each with distinct utility setups.
Where is this triplex located?
The property is located at 535 Chestnut Street Dunmore, PA.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: Multi‑building income property with four total units: 535 Chestnut St (three‑unit) and 103 Somers St (single‑family ranch); Three‑unit building offers separate electric service for each unit; Landlord currently pays heat and water/sewer for the three‑unit building
