Remodeled Side-by-Side
For Sale
$260,000
Pending
843 Spring Street, Avoca, PA 18641
MULTI_FAMILY - Other - Avoca, PA
Property Size1,811 SF
Lot Size0.26 Acres
Days on Market49
Property Features for 843 Spring Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 2, Basement, Bathroom 2
Parking
4
Parking features
Driveway
Patio and Porch features
Deck, Porch
Interior features
Ceiling Fan(s), Eat-in Kitchen
Basement
Dirt Floor, Unfinished
Appliances
Gas Oven, Washer/Dryer Stacked, Microwave, Refrigerator, Gas Water Heater
Lot features
Back Yard
Elementary school district
Pittston Area
Middle school district
Pittston Area
High school district
Pittston Area
Directions
Mains St Avoca, R at light onto Hawthorne St. R onto Spring St. Home ahead on L, make L just past the home to pull into the driveway.
Standard status
Pending
APN
02D12SE2001007
Size
1,811 SF
Lot size
0.26 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BLK:11 DIST:02 CITY/MUNI/TWP:AVOCA BORO 2-3-235-3 843 SPRING ST MAP REF:MAP D12SE2
Tax Annual Amount
2956
Legal Description
BLK:11 DIST:02 CITY/MUNI/TWP:AVOCA BORO 2-3-235-3 843 SPRING ST MAP REF:MAP D12SE2
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Ductless
Amenities
patio
fire pit
deck
Building Details
Year built
1951
Floors in Building
2
Number of units
2
Flooring type
Carpet, Vinyl
Roof type
Composition, Shingle
Architectural style
Other
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
Christine Ives Polizzi · License #RS360064
(570) 561-7189
Added: Jun 29
Changed: Aug 4
Last Checked: Aug 16 at 5:06PM
MLS# SC263087
Copyright © 2026 Greater Scranton Board of Realtors 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.
843 Spring Street is a remodeled side-by-side duplex in R1 zoning featuring two units with two bedrooms and one bathroom each. The home was extensively renovated in 2022 and includes a new roof, gutters, windows, electrical service, tankless water heaters, siding, furnaces, insulation, flooring and carpeting, kitchen and bathroom updates, a deck, appliances, and ductless heating and air conditioning systems.
Each unit has its own separate electric, gas, and heating systems, with utilities separately metered except for water and sewer. Additional living and storage space includes a basement, and the duplex has ceiling fans and an eat-in kitchen. Off-street parking is provided via driveway.
Designed for an income-producing setup, the property is described as having month-to-month tenants and a strong 9 percent cap rate. The exterior includes a deck and porch, and there is a backyard with patio space for outdoor use.
The duplex was built in 1951 and is connected to public sewer. It is located in Avoca, PA, and is noted as being minutes from Interstate 81, shopping, dining, and local amenities.
Each unit has its own separate electric, gas, and heating systems, with utilities separately metered except for water and sewer. Additional living and storage space includes a basement, and the duplex has ceiling fans and an eat-in kitchen. Off-street parking is provided via driveway.
Designed for an income-producing setup, the property is described as having month-to-month tenants and a strong 9 percent cap rate. The exterior includes a deck and porch, and there is a backyard with patio space for outdoor use.
The duplex was built in 1951 and is connected to public sewer. It is located in Avoca, PA, and is noted as being minutes from Interstate 81, shopping, dining, and local amenities.
Key Highlights
- Two‑unit side‑by‑side duplex with two beds and one bath per unit
- Extensive 2022 renovation including new roof, windows, electrical service, and tankless water heaters
- Separate electric, gas, and heating for each unit; utilities separately metered except water and sewer
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
$14,615
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
5.62%
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%
$292,300
$292.3K
Cap Rate 7%
$208,786
$208.8K
Cap Rate 9%
$162,389
$162.4K
Market Conditions
NOI Build-Up for 1,811 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
$22.8K $12.60/SF
− Vacancy
−$1.9K −$1.07/SF
EGI
$20.9K $11.53/SF
− OpEx
−$6.3K −$3.46/SF
NOI
$14.6K $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%
$292,300
Cap Rate 7%
$208,786
Cap Rate 9%
$162,389
Alternative Uses
Best Use
Multifamily LT 5
$208.8K
$182.7K – $243.6K
NOI $14,615 @ 7.0% cap · market cap 5.62%
Second Best
Apartment 5plus
$193.6K
$169.4K – $225.9K
NOI $13,555 @ 7.0% cap · market cap 5.21%
Theoretical Best
Office A
$573.7K
$502.0K – $669.4K
NOI $40,161 @ 7.0% cap · market cap 15.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Explore this area
Business Placement
Demographics for 18641, PA
6,608
Population
3,077
Households
2.1
Avg Household Size
47
Median Age
17%
College-Educated
96%
High-School Grad
4.5 sq mi
ZIP Area
1,468
Density / Sq Mi
$74,469
Median Household Income
$43,043
Median Earnings
$956
Median Rent
$142,500
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 - Side-by-side duplex in R1 zoning with separate utility systems and ductless heating and air plus off-street driveway parking.
Where is this duplex located?
The property is located at 843 Spring Street Avoca, PA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two‑unit side‑by‑side duplex with two beds and one bath per unit; Extensive 2022 renovation including new roof, windows, electrical service, and tankless water heaters; Separate electric, gas, and heating for each unit; utilities separately metered except water and sewer
