Updated Two-Unit
New
For Sale
$309,900
622 W 8TH STREET, Hazleton, PA 18201
Corner property with remodeled kitchens, bathrooms, updated windows, and off-street parking.
Property Size2,400 SF
Price / SF$129.13
Days on Market3
Property Features for 622 W 8TH STREET
General Information
Standard status
Active
Size
2,400 SF
Total Parking Spaces
2
Property subtype
Duplex
Financials
Asking Price
$309,900
Gross Income
$36,000
Additional Details
Multifamily Units
2
Building Details
Year Built
1930
Buildings
1
Listing Agency:
Realty Mark Associates
(215) 376-4444
Listed By:
Renso Minaya · License #RS301073
(610) 587-8673
Source:
Cummingsrealtors
Added: Sep 1
Changed: Sep 3
Last Checked: Sep 3 at 1:59AM
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 Realty Mark Associates
Investment Insights
Based on property information with market context.
This detached duplex at 622 W 8th Street in Hazleton, Pennsylvania, contains 2,400 square feet across two residential units. Each apartment includes 3 bedrooms, 1 full bathroom, and 1 half bathroom, creating a total of 6 bedrooms, 2 full bathrooms, and 2 half bathrooms. Both units have remodeled kitchens and bathrooms, refreshed flooring, ceilings, and walls, plus electrical improvements and updated windows.
Built in 1930, the corner property includes off-street parking for 2 vehicles. Both apartments are occupied under month-to-month leases, providing flexibility for continued rental use or an owner-occupant arrangement with one unit available for personal use.
Built in 1930, the corner property includes off-street parking for 2 vehicles. Both apartments are occupied under month-to-month leases, providing flexibility for continued rental use or an owner-occupant arrangement with one unit available for personal use.
Key Highlights
- Two‑unit detached duplex with 2,400 square feet
- Each apartment has 3 bedrooms, 1 full bathroom, and 1 half bathroom
- 6 total bedrooms, 2 full bathrooms, and 2 half 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
$19,369
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
6.25%
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%
$387,380
$387.4K
Cap Rate 7%
$276,700
$276.7K
Cap Rate 9%
$215,211
$215.2K
Market Conditions
NOI Build-Up for 2,400 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
$30.2K $12.60/SF
− Vacancy
−$2.6K −$1.07/SF
EGI
$27.7K $11.53/SF
− OpEx
−$8.3K −$3.46/SF
NOI
$19.4K $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 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%
$387,380
Cap Rate 7%
$276,700
Cap Rate 9%
$215,211
Alternative Uses
Best Use
Multifamily LT 5
$276.7K
$242.1K – $322.8K
NOI $19,369 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$256.6K
$224.6K – $299.4K
NOI $17,964 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$760.3K
$665.3K – $887.0K
NOI $53,222 @ 7.0% cap · market cap 17.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,213
Businesses Nearby
Explore this area
Business Placement
Demographics for 18201, PA
31,310
Population
13,318
Households
2.4
Avg Household Size
37
Median Age
11%
College-Educated
76%
High-School Grad
17.5 sq mi
ZIP Area
1,789
Density / Sq Mi
$43,983
Median Household Income
$30,463
Median Earnings
$1,019
Median Rent
$131,900
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 - Corner property with remodeled kitchens, bathrooms, updated windows, and off-street parking.
Where is this duplex located?
The property is located at 622 W 8TH STREET Hazleton, PA.
What is the asking price?
The asking price for this property is $309,900.
What are key features of this property?
This property features: Two‑unit detached duplex with 2,400 square feet; Each apartment has 3 bedrooms, 1 full bathroom, and 1 half bathroom; 6 total bedrooms, 2 full bathrooms, and 2 half bathrooms
