Duplex-Style Mixed Use Building with
For Sale
$495,000
Pending
903 Main Street, Honesdale, PA 18431
MULTI_FAMILY - Honesdale, PA
Property Size2,536 SF
Lot Size0.03 Acres
Days on Market47
Property Features for 903 Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Commercial
Zoning description
Commercial
Bedrooms
4
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bathroom 1, Bedroom 3, Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 2, Basement, Bathroom 3
Interior features
Ceiling Fan(s), Storage, Pantry, Open Floorplan, Eat-in Kitchen
Basement
Full, Unfinished
Appliances
Dishwasher, Refrigerator, Electric Range, Electric Oven, Electric Cooktop
Lot features
Rectangular Lot
Elementary school district
Wayne Highlands
Middle school district
Wayne Highlands
High school district
Wayne Highlands
Directions
From Honesdale: Head toward Main St. Turn right onto Main St. Destination will be on the left.
Standard status
Pending
APN
11-0-0005-0022
Size
2,536 SF
Lot size
0.03 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
11-0-0005-0022
Tax Annual Amount
6141
Legal Description
11-0-0005-0022
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Baseboard
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1900
Floors in Building
3
Number of units
3
Flooring type
Hardwood, Tile, Vinyl
Building materials
Brick
Roof type
Tar/Gravel, Rubber
Additional Structures
Storage
Listing Agency:
RE/MAX WAYNE · RE/MAX International
(570) 253-9566
Listed By:
Tim Meagher · License #RM421483
(570) 253-9566
Added: Jul 9
Changed: Aug 11
Last Checked: Aug 24 at 3:06PM
MLS# PW-262278
Copyright © 2026 Pike/Wayne Association 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.
This three-story brick duplex-style mixed use building combines a street-level storefront with two residential units above. The first floor features a commercial space currently set up as a clothing boutique, with large display windows, an open retail floor, a dressing room, storage room, and bathroom. A separate street entrance provides access to the two apartments on the upper levels. The second floor has one apartment with two bedrooms and one full bathroom, plus a kitchen and spacious open living area; it is currently used as a photography studio. The third floor has an apartment with two bedrooms, a spacious bathroom, storage, and an open kitchen and living area.
The property is zoned Commercial and sits on a 0.03-acre lot on Main Street in Honesdale, PA. It includes public water and public sewer, with baseboard electric heat and cooling via ceiling fan(s). The building was constructed in 1900, with roof surfaces described as tar/gravel and rubber.
Total building size is 2,536 square feet, offering a practical configuration for an owner seeking a combination of ground-floor storefront space and residential income above.
The property is zoned Commercial and sits on a 0.03-acre lot on Main Street in Honesdale, PA. It includes public water and public sewer, with baseboard electric heat and cooling via ceiling fan(s). The building was constructed in 1900, with roof surfaces described as tar/gravel and rubber.
Total building size is 2,536 square feet, offering a practical configuration for an owner seeking a combination of ground-floor storefront space and residential income above.
Key Highlights
- 2,536 SF three‑story brick mixed use duplex‑style building
- First‑floor storefront with display windows, open retail floor, dressing room, storage, and bathroom
- Two apartments above: each unit has two bedrooms and one full bathroom
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
$30,420
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
6.15%
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%
$608,400
$608.4K
Cap Rate 7%
$434,571
$434.6K
Cap Rate 9%
$338,000
$338.0K
Market Conditions
NOI Build-Up for 2,536 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
$45.6K $18.00/SF
− Vacancy
−$2.2K −$0.86/SF
EGI
$43.5K $17.14/SF
− OpEx
−$13.0K −$5.14/SF
NOI
$30.4K $12.00/SF
Area
Wayne County, PA
Vacancy
4.80%
Lease Rate
$18.00 /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%
$608,400
Cap Rate 7%
$434,571
Cap Rate 9%
$338,000
Alternative Uses
Best Use
Retail
$434.6K
$380.3K – $507.0K
NOI $30,420 @ 7.0% cap · market cap 6.15%
Second Best
Multifamily LT 5
$394.1K
$344.8K – $459.8K
NOI $27,587 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$618.4K
$541.1K – $721.4K
NOI $43,286 @ 7.0% cap · market cap 8.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
810
Businesses Nearby
Explore this area
Business Placement
Demographics for 18431, PA
12,602
Population
6,217
Households
2
Avg Household Size
47
Median Age
24%
College-Educated
90%
High-School Grad
134.8 sq mi
ZIP Area
93
Density / Sq Mi
$55,323
Median Household Income
$33,298
Median Earnings
$1,013
Median Rent
$222,000
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 - Three-story brick building with a first-floor storefront and two 2-bedroom apartments above with separate access.
Where is this duplex located?
The property is located at 903 Main Street Honesdale, PA.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: 2,536 SF three‑story brick mixed use duplex‑style building; First‑floor storefront with display windows, open retail floor, dressing room, storage, and bathroom; Two apartments above: each unit has two bedrooms and one full bathroom
