Updated Triplex with Newer
For Sale
$299,900
638-640 6TH Avenue, Williamsport, PA 17701
Multi-Units, Williamsport, PA
Property Size2,564 SF
Lot Size0.20 Acres
Price / SF$116.97
Days on Market53
Property Features for 638-640 6TH Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
5
Full bathrooms
3
Rooms
Bedroom 5, Basement, Bedroom 1, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 2, Bathroom 1, Bedroom 2
Parking features
Parking Lot, On Street
Basement
Full, Exterior Entry, Sump Pump
View
City
Elementary school district
Williamsport
Middle school district
Williamsport
High school district
Williamsport
Subdivision
WILLIAMSPORT CITY
Standard status
Active
APN
66+,002.0-0104.00-000+
Size
2,564 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Annual Amount
2890
Utilities
Heating system
Natural Gas, Hot Water(Heating)
Water source
Public
Building Details
Year built
1901
Floors in Building
2
Number of units
3
Flooring type
Laminate, Linoleum, Carpet
Building materials
Brick
Roof type
Shingle
Listing Agency:
Iron Valley Real Estate North Central PA
(570) 979-1002
Listed By:
Lori M Solomon · License #RS314921
(570) 337-2632
Added: Jul 21
Changed: Sep 7
Last Checked: Sep 11 at 11:06PM
MLS# WB-104450
Copyright © 2026 West Branch Valley Board of REALTORS. 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 2,564-square-foot triplex offers three occupied units within a brick building constructed in 1901. Improvements include a newer shingle roof, two new furnaces, replacement windows, and refreshed apartment interiors. Interior finishes include laminate, linoleum, and carpet, with basement space also present. Heating is provided by natural gas and hot water, and the property receives public water service.
The property occupies 0.2 acres and provides a combination of on-site lot parking and street parking. Located in Williamsport, Pennsylvania, the building is identified as R2 zoning and includes three bathrooms along with five bedrooms in the recorded room data.
The property occupies 0.2 acres and provides a combination of on-site lot parking and street parking. Located in Williamsport, Pennsylvania, the building is identified as R2 zoning and includes three bathrooms along with five bedrooms in the recorded room data.
Key Highlights
- Three‑unit property is currently fully occupied
- 2,564 SF brick triplex on 0.2 acres
- Newer shingle roof, 2 new furnaces, and replacement windows
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
$20,918
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
6.97%
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%
$418,360
$418.4K
Cap Rate 7%
$298,829
$298.8K
Cap Rate 9%
$232,422
$232.4K
Market Conditions
NOI Build-Up for 2,564 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
$32.3K $12.60/SF
− Vacancy
−$2.4K −$0.95/SF
EGI
$29.9K $11.66/SF
− OpEx
−$9.0K −$3.50/SF
NOI
$20.9K $8.16/SF
Area
Lycoming County, PA
Vacancy
7.50%
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%
$418,360
Cap Rate 7%
$298,829
Cap Rate 9%
$232,422
Alternative Uses
Best Use
Multifamily LT 5
$298.8K
$261.5K – $348.6K
NOI $20,918 @ 7.0% cap · market cap 6.97%
Second Best
Apartment 5plus
$277.1K
$242.5K – $323.3K
NOI $19,399 @ 7.0% cap · market cap 6.47%
Theoretical Best
Office A
$552.6K
$483.5K – $644.7K
NOI $38,679 @ 7.0% cap · market cap 12.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,098
Businesses Nearby
Explore this area
Business Placement
Demographics for 17701, PA
43,197
Population
20,891
Households
2.1
Avg Household Size
38
Median Age
28%
College-Educated
91%
High-School Grad
98.0 sq mi
ZIP Area
441
Density / Sq Mi
$52,770
Median Household Income
$33,643
Median Earnings
$869
Median Rent
$176,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied units feature refreshed interiors, replacement windows, and natural-gas hot-water heating.
Where is this triplex located?
The property is located at 638-640 6TH Avenue Williamsport, PA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Three‑unit property is currently fully occupied; 2,564 SF brick triplex on 0.2 acres; Newer shingle roof, 2 new furnaces, and replacement windows
