Multifamily Property with Separate
535 Chestnut Street, Dunmore, PA 18512
For Sale
$489,900
Residential Income, Dunmore, PA
Property Size4,962 SF
Lot Size0.13 Acres
Price / SF$98.73
Days on Market140
Property Features for 535 Chestnut Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Basement
Elementary school district
Middle school district
High school district
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
Christian Saunders Real Estate
(800) 372-4222
Listed By:
Christian Saunders · License PA RM424906
(570) 947-3292
Added: Jun 24
Changed: Oct 29
Last Checked: Nov 10 at 10:06PM
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.
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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 / Yr
$40,920
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
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
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 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.
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Lease Details
4
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
768
Businesses Nearby
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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
$173,500
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Dunmore, PA
Properties on Market for Multifamily properties in Dunmore
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two-building package with a three-unit apartment and single-family ranch, each with distinct utility setups.
Where is this multifamily property 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
