Multifamily Property with 2-Bay
For Sale
$612,000
96 S Main Street, Ashley, PA 18706
Multi-Family, Ashley, PA
Property Size3,800 SF
Lot Size0.17 Acres
Price / SF$161.05
Days on Market70
Property Features for 96 S Main Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Residential
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 2, Bedroom 5, Basement, Bedroom 7, Bathroom 1, Bathroom 4, Bedroom 9, Bedroom 3, Bedroom 8, Bathroom 2, Bathroom 3, Bedroom 6, Bedroom 1, Bathroom 5, Bedroom 4
Parking features
Off Street
Exterior features
Aluminum
Basement
Concrete
Elementary school district
Hanover
Middle school district
Hanover
High school district
Hanover
Directions
From Hazel St Wilkesbarre to Main St Ashley House on the left.
Subdivision
Ashley-Nanticoke-Hanover Twp
Standard status
Active
APN
01-J9NE1 -011-030-000
Size
3,800 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Description
Owner and Tenants personal property.
Tax Annual Amount
2321
Legal Description
Owner and Tenants personal property.
Utilities
Heating system
Steam
Water source
Public
Building Details
Year built
1900
Roof type
Shingle
Listing Agency:
Rubbico Real Estate · Realty World
(570) 826-1600
Listed By:
Edwin Montalvo · License #RS307935
(570) 817-5244
Added: Jul 13
Changed: Sep 13
Last Checked: Sep 20 at 10:06PM
MLS# 26-260
Copyright © 2026 Luzerne County Association 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 residential multifamily property contains 3,800 square feet on a 0.17-acre lot and was built in 1900. The layout includes nine bedrooms, five bathrooms, and a basement. Recent updates, aluminum exterior siding, a shingle roof, and steam heat are noted. The property is fully rented and includes a large two-bay garage.
Located at 96 S Main Street in Ashley, Pennsylvania, the property carries Residential zoning and is served by public water. Off-street parking is provided. The combination of rental occupancy, multiple bedrooms and bathrooms, and garage space supports its use as a residential income asset.
Located at 96 S Main Street in Ashley, Pennsylvania, the property carries Residential zoning and is served by public water. Off-street parking is provided. The combination of rental occupancy, multiple bedrooms and bathrooms, and garage space supports its use as a residential income asset.
Key Highlights
- 3,800‑square‑foot multifamily property on a 0.17‑acre lot
- Nine bedrooms and five bathrooms
- Fully rented residential income property
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
$28,442
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
4.65%
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%
$568,840
$568.8K
Cap Rate 7%
$406,314
$406.3K
Cap Rate 9%
$316,022
$316.0K
Market Conditions
NOI Build-Up for 3,800 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
$56.1K $14.76/SF
− Vacancy
−$4.4K −$1.15/SF
EGI
$51.7K $13.61/SF
− OpEx
−$23.3K −$6.12/SF
NOI
$28.4K $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%
$568,840
Cap Rate 7%
$406,314
Cap Rate 9%
$316,022
Alternative Uses
Best Use
Apartment 5plus
$406.3K
$355.5K – $474.0K
NOI $28,442 @ 7.0% cap · market cap 4.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,269 @ 7.0% cap · market cap 13.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Service bays
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
169
Businesses Nearby
Explore this area
Business Placement
Demographics for 18706, PA
16,338
Population
7,675
Households
2.1
Avg Household Size
43
Median Age
20%
College-Educated
91%
High-School Grad
26.3 sq mi
ZIP Area
621
Density / Sq Mi
$57,546
Median Household Income
$38,381
Median Earnings
$883
Median Rent
$121,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Recently updated residential income property with public water, off-street parking, and a two-bay garage.
Where is this multifamily property located?
The property is located at 96 S Main Street Ashley, PA.
What is the asking price?
The asking price for this property is $612,000.
What are key features of this property?
This property features: 3,800‑square‑foot multifamily property on a 0.17‑acre lot; Nine bedrooms and five bathrooms; Fully rented residential income property
