Remodeled Side-by-Side
For Sale
$259,995
62-64 Wayne St, Carbondale, PA 18407
Two updated units include new kitchens, bathrooms, flooring, and finishes.
Property Size2,538 SF
Price / SF$102.44
Days on Market31
Property Features for 62-64 Wayne St
General Information
Standard status
Active
Size
2,538 SF
Property subtype
Multi-Family
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
1930
Listing Agency:
The Hub Real Estate Group Scranton
(570) 840-8779
Listed By:
David J. Mitchell · License #RS378765
Source:
Revolvepa
Added: Aug 1
Changed: Aug 31
Last Checked: Aug 31 at 6:35PM
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 The Hub Real Estate Group Scranton
Investment Insights
Based on property information with market context.
This 1930 duplex contains 2,538 square feet of total living space in a side-by-side configuration. Both residences have been remodeled with new kitchens, new bathrooms, contemporary flooring, and refreshed interior finishes. A full walk-up attic adds flexible expansion potential and may be converted into additional living space.
Utilities are separately metered with the exception of water. The property is located at 62-64 Wayne St in Carbondale, Pennsylvania, within walking distance of downtown while maintaining a set-back position from the surrounding activity.
Utilities are separately metered with the exception of water. The property is located at 62-64 Wayne St in Carbondale, Pennsylvania, within walking distance of downtown while maintaining a set-back position from the surrounding activity.
Key Highlights
- 2,538 SF of total living space
- Side‑by‑side duplex configuration
- Both units feature new kitchens and bathrooms
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
$20,930
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
8.05%
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%
$418,600
$418.6K
Cap Rate 7%
$299,000
$299.0K
Cap Rate 9%
$232,556
$232.6K
Market Conditions
NOI Build-Up for 2,538 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
$32.0K $12.60/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$29.9K $11.78/SF
− OpEx
−$9.0K −$3.53/SF
NOI
$20.9K $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%
$418,600
Cap Rate 7%
$299,000
Cap Rate 9%
$232,556
Alternative Uses
Best Use
Multifamily LT 5
$299.0K
$261.6K – $348.8K
NOI $20,930 @ 7.0% cap · market cap 8.05%
Second Best
Apartment 5plus
$279.5K
$244.6K – $326.1K
NOI $19,566 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$644.2K
$563.7K – $751.6K
NOI $45,093 @ 7.0% cap · market cap 17.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
466
Businesses Nearby
Explore this area
Business Placement
Demographics for 18407, PA
14,047
Population
7,028
Households
2
Avg Household Size
43
Median Age
26%
College-Educated
92%
High-School Grad
41.5 sq mi
ZIP Area
338
Density / Sq Mi
$57,261
Median Household Income
$40,174
Median Earnings
$826
Median Rent
$142,600
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?
Duplex - Two updated units include new kitchens, bathrooms, flooring, and finishes.
Where is this duplex located?
The property is located at 62-64 Wayne St Carbondale, PA.
What is the asking price?
The asking price for this property is $259,995.
What are key features of this property?
This property features: 2,538 SF of total living space; Side‑by‑side duplex configuration; Both units feature new kitchens and bathrooms
