Three-Unit Apartment
For Sale
$300,000
728 N Washington St, Wilkes Barre, PA 18705
Unit mix includes one three-bedroom residence and two one-bedroom apartments.
Property Size3,100 SF
Price / SF$96.77
Days on Market76
Property Features for 728 N Washington St
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR, 2 x 1BR
Multifamily Units
3
Building Details
Buildings
1
Listing Agency:
RPA Real Estate - Kingston
(570) 442-3301
Listed By:
George Placencio
Source:
Nepahousehunt
Added: Jun 16
Changed: Aug 30
Last Checked: Aug 30 at 12:05AM
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 RPA Real Estate - Kingston
Investment Insights
Based on property information with market context.
This 3,100-square-foot triplex contains three residential units: one three-bedroom apartment and two one-bedroom apartments. The configuration provides a varied unit mix within a single multifamily property.
The property is located at 728 N Washington St, Wilkes-Barre, PA 18705.
The property is located at 728 N Washington St, Wilkes-Barre, PA 18705.
Key Highlights
- 3,100‑square‑foot triplex
- Three residential units in one building
- One three‑bedroom apartment
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
$25,018
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
8.34%
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%
$500,360
$500.4K
Cap Rate 7%
$357,400
$357.4K
Cap Rate 9%
$277,978
$278.0K
Market Conditions
NOI Build-Up for 3,100 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
$39.1K $12.60/SF
− Vacancy
−$3.3K −$1.07/SF
EGI
$35.7K $11.53/SF
− OpEx
−$10.7K −$3.46/SF
NOI
$25.0K $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%
$500,360
Cap Rate 7%
$357,400
Cap Rate 9%
$277,978
Alternative Uses
Best Use
Multifamily LT 5
$357.4K
$312.7K – $417.0K
NOI $25,018 @ 7.0% cap · market cap 8.34%
Second Best
Apartment 5plus
$331.5K
$290.0K – $386.7K
NOI $23,203 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$982.1K
$859.3K – $1.15M
NOI $68,746 @ 7.0% cap · market cap 22.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
590
Businesses Nearby
Explore this area
Business Placement
Demographics for 18705, PA
14,832
Population
7,268
Households
2
Avg Household Size
44
Median Age
23%
College-Educated
88%
High-School Grad
5.0 sq mi
ZIP Area
2,966
Density / Sq Mi
$61,293
Median Household Income
$35,965
Median Earnings
$1,006
Median Rent
$122,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Unit mix includes one three-bedroom residence and two one-bedroom apartments.
Where is this triplex located?
The property is located at 728 N Washington St Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: 3,100‑square‑foot triplex; Three residential units in one building; One three‑bedroom apartment
