Duplex
New
For Sale
$250,000
551-553 S Franklin Street, Wilkes Barre, PA 18702
Residential Income, Wilkes-Barre, PA
Property Size2,648 SF
Lot Size0.29 Acres
Price / SF$94.41
Days on Market3
Property Features for 551-553 S Franklin Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res- Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 4, Basement, Bedroom 5, Bedroom 6, Bedroom 3, Bedroom 1
Parking
6
Basement
Unfinished
Elementary school district
Wilkes-Barre Area
Middle school district
Wilkes-Barre Area
High school district
Wilkes-Barre Area
Directions
From Kingston, turn left onto Market St, continue onto Market St bridge, turn right onto S River St, turn left onto S Franklin St.
Standard status
Active
APN
73-H9SE4 -027-031-000
Size
2,648 SF
Lot size
0.29 Acres
Additional Details
Individually Metered Utilities
all utilities
Taxes and HOA fees
Tax Year
2026
Tax Annual Amount
2956
Amenities
fenced-in yard
off-street parking
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Buildings
2
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Kelly J. Oltmann · License #RS222424L
(570) 209-6031
Added: Nov 4
Changed: Nov 6
Last Checked: Nov 6 at 5:06AM
MLS# SC265599
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 1930 brownstone contains 2,648 square feet, with six bedrooms and two bathrooms. The property occupies a 0.29-acre parcel and carries Res-Duplex zoning.
Located at 551-553 S Franklin Street in Wilkes-Barre, the property is identified as a duplex. The available room information lists six bedrooms, two bathrooms, and a basement.
Located at 551-553 S Franklin Street in Wilkes-Barre, the property is identified as a duplex. The available room information lists six bedrooms, two bathrooms, and a basement.
Key Highlights
- 2,648‑square‑foot brownstone built in 1930
- Six bedrooms and two bathrooms
- 0.29‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,370
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,400
$427.4K
Cap Rate 7%
$305,286
$305.3K
Cap Rate 9%
$237,444
$237.4K
Market Conditions
NOI Build-Up for 2,648 SF
Gross rent
$33.4K $12.60/SF
− Vacancy
−$2.8K −$1.07/SF
EGI
$30.5K $11.53/SF
− OpEx
−$9.2K −$3.46/SF
NOI
$21.4K $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 Rate 5%
$427,400
Cap Rate 7%
$305,286
Cap Rate 9%
$237,444
Alternative Uses
Best Use
Multifamily LT 5
$305.3K
$267.1K – $356.2K
NOI $21,370 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$283.1K
$247.8K – $330.3K
NOI $19,820 @ 7.0% cap · market cap 7.93%
Theoretical Best
Office A
$838.9K
$734.0K – $978.7K
NOI $58,722 @ 7.0% cap · market cap 23.49%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
999
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Residential duplex with Res-Duplex zoning and a 0.29-acre parcel.
Where is this duplex located?
The property is located at 551-553 S Franklin Street Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $250,000.
What are key features of this property?
This property features: 2,648‑square‑foot brownstone built in 1930; Six bedrooms and two bathrooms; 0.29‑acre parcel
