Updated Two-Unit
For Sale
$309,900
622 W 8TH Street, Hazleton, PA 18201
Multi-Family, HAZLETON, PA
Property Size2,708 SF
Lot Size0.06 Acres
Price / SF$114.44
Days on Market16
Property Features for 622 W 8TH Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Rooms
Dining Room, Basement
Parking features
Off Street, Driveway
Interior features
2nd Kitchen, Breakfast Area, Combination Kitchen/Dining, Kitchen - Eat-In, Laundry Chute
Subdivision
W HAZLETON
Elementary school district
HAZLETON AREA
Middle school district
HAZLETON AREA
High school district
HAZLETON AREA
Standard status
Active
Size
2,708 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Annual Amount
2448
Utilities
Heating system
Other (Heating)
Cooling system
Window Unit(s)
Building Details
Year built
1930
Number of units
2
Building materials
Combination
Architectural style
Other
Listing Agency:
Realty Mark Associates
(215) 376-4444
Listed By:
Renso Minaya · License #RS301073
(610) 372-0212
Added: Sep 4
Changed: Sep 18
Last Checked: Sep 19 at 10:06AM
MLS# PALU2003296
Copyright © 2026 Bright 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 detached two-unit duplex at 622 W 8th Street includes 2,708 square feet on a 0.06-acre lot. Each apartment provides three bedrooms, one full bathroom, and one half bathroom, creating a six-bedroom configuration with four total bathrooms. Both units have remodeled kitchens and bathrooms, refreshed flooring, ceilings, walls, electrical systems, and windows. Interior features include eat-in kitchen areas, combination kitchen and dining spaces, a second kitchen, a laundry chute, and basement space.
Built in 1930, the property is positioned on a corner lot in Hazleton, Pennsylvania. Parking is provided by an off-street driveway with space for two vehicles. The apartments are occupied under month-to-month leases, offering flexibility for continued rental use or an owner-occupant arrangement.
Built in 1930, the property is positioned on a corner lot in Hazleton, Pennsylvania. Parking is provided by an off-street driveway with space for two vehicles. The apartments are occupied under month-to-month leases, offering flexibility for continued rental use or an owner-occupant arrangement.
Key Highlights
- 2,708 SF duplex on a 0.06‑acre corner lot
- Two apartments, each with 3 bedrooms, 1 full bath, and 1 half bath
- Remodeled kitchens and bathrooms in both units
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
$21,854
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
7.05%
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%
$437,080
$437.1K
Cap Rate 7%
$312,200
$312.2K
Cap Rate 9%
$242,822
$242.8K
Market Conditions
NOI Build-Up for 2,708 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
$34.1K $12.60/SF
− Vacancy
−$2.9K −$1.07/SF
EGI
$31.2K $11.53/SF
− OpEx
−$9.4K −$3.46/SF
NOI
$21.9K $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%
$437,080
Cap Rate 7%
$312,200
Cap Rate 9%
$242,822
Alternative Uses
Best Use
Multifamily LT 5
$312.2K
$273.2K – $364.2K
NOI $21,854 @ 7.0% cap · market cap 7.05%
Second Best
Apartment 5plus
$289.6K
$253.4K – $337.8K
NOI $20,269 @ 7.0% cap · market cap 6.54%
Theoretical Best
Office A
$857.9K
$750.7K – $1.00M
NOI $60,053 @ 7.0% cap · market cap 19.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Detached corner property with renovated interiors, separate kitchens, and off-street parking for two vehicles.
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: 2,708 SF duplex on a 0.06‑acre corner lot; Two apartments, each with 3 bedrooms, 1 full bath, and 1 half bath; Remodeled kitchens and bathrooms in both units
