Two-Unit
For Sale
$250,000
623 Warren Avenue, Kingston, PA 18704
Each residence includes two bedrooms, one bathroom, and access to a shared yard.
Property Size1,980 SF
Days on Market15
Property Features for 623 Warren Avenue
General Information
Standard status
Active
Size
1,980 SF
Property subtype
Duplex
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,780
Amenities
shared yard
Building Details
Building Size
1,980 SF
Listing Agency:
Wychock Real Estate, LLC
Listed By:
Tanya Gilbert
(570) 235-6722
Source:
Luxehomesnepa
Added: Aug 20
Changed: Aug 28
Last Checked: Sep 2 at 2:05AM
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 Wychock Real Estate, LLC
Investment Insights
Based on property information with market context.
This up-and-down duplex contains two separate residences, each configured with two bedrooms and one bathroom. Both units include living areas and share access to an outdoor yard.
Off-street parking serves residents and guests. The property is located at 623 Warren Avenue in Kingston, Pennsylvania.
Off-street parking serves residents and guests. The property is located at 623 Warren Avenue in Kingston, Pennsylvania.
Key Highlights
- Two‑unit up‑and‑down duplex
- Each unit has 2 bedrooms and 1 bathroom
- Shared yard for both residences
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
$15,979
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
6.39%
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%
$319,580
$319.6K
Cap Rate 7%
$228,271
$228.3K
Cap Rate 9%
$177,544
$177.5K
Market Conditions
NOI Build-Up for 1,980 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
$24.9K $12.60/SF
− Vacancy
−$2.1K −$1.07/SF
EGI
$22.8K $11.53/SF
− OpEx
−$6.8K −$3.46/SF
NOI
$16.0K $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%
$319,580
Cap Rate 7%
$228,271
Cap Rate 9%
$177,544
Alternative Uses
Best Use
Multifamily LT 5
$228.3K
$199.7K – $266.3K
NOI $15,979 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$211.7K
$185.3K – $247.0K
NOI $14,820 @ 7.0% cap · market cap 5.93%
Theoretical Best
Office A
$627.3K
$548.9K – $731.8K
NOI $43,908 @ 7.0% cap · market cap 17.56%
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
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 18704, PA
31,138
Population
14,531
Households
2.1
Avg Household Size
43
Median Age
29%
College-Educated
95%
High-School Grad
10.1 sq mi
ZIP Area
3,083
Density / Sq Mi
$62,907
Median Household Income
$39,349
Median Earnings
$935
Median Rent
$154,600
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 - Each residence includes two bedrooms, one bathroom, and access to a shared yard.
Where is this duplex located?
The property is located at 623 Warren Avenue Kingston, 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: Two‑unit up‑and‑down duplex; Each unit has 2 bedrooms and 1 bathroom; Shared yard for both residences
