Renovated College Housing
For Sale
$550,000
79 Madison Street Wilkes-Barre, Wilkes Barre, PA 18702
Four separate buildings and an additional parking lot comprise this student-oriented multifamily offering.
Property Size4,000 SF
Days on Market40
Property Features for 79 Madison Street Wilkes-Barre
General Information
Standard status
Active
Size
4,000 SF
Property subtype
Multiple Buildings
Taxes and HOA fees
Annual Taxes
$2,800
Building Details
Building Size
4,000 SF
Buildings
4
Listing Agency:
Avanti Real Estate Group
(570) 239-0737
Listed By:
Amy Spess · License #RS287386
Source:
Luxehomesnepa
Added: Jul 22
Changed: Aug 25
Last Checked: Aug 29 at 2:01PM
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 Avanti Real Estate Group
Investment Insights
Based on property information with market context.
This multifamily portfolio includes four separate buildings with a combined 33 bedrooms and 13 bathrooms. The properties are configured for college housing and have been renovated from the studs, followed by fresh interior painting. Students pay all utilities, supporting a straightforward operating arrangement for the portfolio.
The package includes properties at 79 Madison St, 276 N Washington St, 35-37 Mallery Pl, and 219 N. Main St in Wilkes Barre, along with a separate parking lot. The offering combines multiple residential buildings with dedicated parking in one college-housing package.
The package includes properties at 79 Madison St, 276 N Washington St, 35-37 Mallery Pl, and 219 N. Main St in Wilkes Barre, along with a separate parking lot. The offering combines multiple residential buildings with dedicated parking in one college-housing package.
Key Highlights
- Four separate apartment buildings included in the package
- 33 total bedrooms and 13 total bathrooms
- College housing configuration
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
$29,939
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
5.44%
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%
$598,780
$598.8K
Cap Rate 7%
$427,700
$427.7K
Cap Rate 9%
$332,656
$332.7K
Market Conditions
NOI Build-Up for 4,000 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
$59.0K $14.76/SF
− Vacancy
−$4.6K −$1.15/SF
EGI
$54.4K $13.61/SF
− OpEx
−$24.5K −$6.12/SF
NOI
$29.9K $7.48/SF
Area
Luzerne County, PA
Vacancy
7.80%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
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%
$598,780
Cap Rate 7%
$427,700
Cap Rate 9%
$332,656
Alternative Uses
Best Use
Apartment 5plus
$427.7K
$374.2K – $499.0K
NOI $29,939 @ 7.0% cap · market cap 5.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.27M
$1.11M – $1.48M
NOI $88,704 @ 7.0% cap · market cap 16.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 18702, PA
42,133
Population
19,738
Households
2.1
Avg Household Size
40
Median Age
23%
College-Educated
87%
High-School Grad
78.1 sq mi
ZIP Area
539
Density / Sq Mi
$54,892
Median Household Income
$36,911
Median Earnings
$971
Median Rent
$115,700
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?
Apartment building - Four separate buildings and an additional parking lot comprise this student-oriented multifamily offering.
Where is this apartment building located?
The property is located at 79 Madison Street Wilkes-Barre Wilkes Barre, PA.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Four separate apartment buildings included in the package; 33 total bedrooms and 13 total bathrooms; College housing configuration
