Updated Multi-Family Investment
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 Market43
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 8, Bedroom 3, Bathroom 4, Bedroom 2, Bedroom 6, Bedroom 5, Bathroom 3, Bedroom 9, Bedroom 4, Bathroom 1, Bedroom 1, Bathroom 2, Basement, Bathroom 5, Bedroom 7
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: Jul 22
Last Checked: Aug 24 at 8:06AM
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 recently updated multi-family investment property is fully rented and offered for sale. The property includes a large two-bay garage, and all measurements are approximate and not guaranteed.
The building is located at 96 S Main Street in Ashley, Pennsylvania (18706) in Luzerne County. The property is zoned Residential.
The lot size is listed at 0.17 acres and the property size is 3,800 square feet, with dimensions not guaranteed. The current rent status is fully rented as stated in the public remarks.
The building is located at 96 S Main Street in Ashley, Pennsylvania (18706) in Luzerne County. The property is zoned Residential.
The lot size is listed at 0.17 acres and the property size is 3,800 square feet, with dimensions not guaranteed. The current rent status is fully rented as stated in the public remarks.
Key Highlights
- Fully rented investment property with recent updates, according to public remarks
- Built in 1900
- 5 bathrooms and 9 bedrooms listed, plus basement
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
Property Profile
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Recently updated, fully rented multi-family property with a large two-bay garage on a small lot.
Where is this residential income 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: Fully rented investment property with recent updates, according to public remarks; Built in 1900; 5 bathrooms and 9 bedrooms listed, plus basement
