Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1225 Main St Old Forge, PA 18518-2350

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1225 Main St Old Forge, PA 18518-2350

    View on Map
    • Apartment buildings
    • 0.24 lot acres
    Off-Market
    Last Sale Apr 25, 2023
    $295,000
    Property ID
    US73-0152828
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 1225 Main St

    Year built
    1920
    Lot size
    0.24 lot acres
    Property type
    Apartment buildings
    APN
    18411010021
    APU
    18411010021

    Description

    This exceptional investment opportunity presents a well-maintained six-unit apartment building located at 1225 S Main St, Old Forge, PA 18518. The property, built in 1920, boasts 5,321 square feet across three stories and sits on a spacious lot that includes an additional parcel. This presents significant potential for expansion, additional parking, or other development projects. The building is zoned CT009. Five of the six units are currently rented, generating immediate income. Each unit features individually metered electricity, simplifying tenant management. The landlord provides comprehensive services, including water, gas, sewer, taxes, insurance, snow removal, and lawn care, minimizing operational burdens. The asking price is $549,900, translating to $103.35 per square foot and $91,650 per unit. Note that flood insurance is required for this property. This turnkey investment offers a strong return and significant upside potential in a desirable location. The property's solid rental history and comprehensive landlord services make it an attractive option for investors seeking a stable and profitable venture. The inclusion of an additional lot further enhances the long-term value and development possibilities.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Old Forge
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.7497
    Latitude
    41.359
    CBSA code
    42540
    CBSA name
    SCRANTON--WILKES-BARRE, PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $3,215
    $2,500
    $11,400
    $13,900
    -
    $2,500
    $11,400
    $13,900

    Comparable in this City

    • Value Estimation by Request
      0.42 Acres

      90 Connell St, Unit 98

      APARTMENT HOUSE (5+ UNITS) • 0.42 Acres
      90 Connell St, Old Forge, PA 18518-1416
      View Details
    • Value Estimation by Request
      0.18 Acres

      119 Oak St, Unit 121

      APARTMENT HOUSE (5+ UNITS) • 0.18 Acres
      119 Oak St, Old Forge, PA 18518-1787
      View Details
    • Value Estimation by Request

      244 Olivia St, Unit B

      MOBILE HOME PARK, TRAILER PARK
      244 Olivia St, Old Forge, PA 18518-1462
      View Details
    • Value Estimation by Request
      1.03 Acres

      Olivia St

      MOBILE HOME PARK, TRAILER PARK • 1.03 Acres
      Olivia St, Old Forge, PA 18518
      View Details
    • Value Estimation by Request
      4,050 SF

      816 Moosic Rd

      Distribution properties • 4,050 SF
      816 Moosic Rd, Old Forge, PA 18518
      View Details
    • Value Estimation by Request
      0.14 Acres

      600 Beech St

      INDUSTRIAL (GENERAL) • 0.14 Acres
      600 Beech St, Old Forge, PA 18518
      View Details

    Similar Nearby for Sale

    • New
      $165,000
      1,600 SF

      Well-Maintained Investment Property in Old Forge

      Investment property with separate utilities and a manageable yard.
      628 Oak St, Old Forge, PA 18518
      View Details
    • $370,000
      2.00 Acres

      Land with Development Potential

      Investment opportunity: two houses, land, renovation, and development potential.
      Milwaukee Bennett St, Old Forge, PA 18518
      View Details
    • $279,000
      Pending

      Versatile Multifamily Property in Old Forge

      Multifamily property with main house, bungalow, garage, and lot.
      347 Orchard St, Old Forge, PA 18518
      View Details
    • $149,000
      3.19 Acres

      Commercial Parcel in Old Forge

      3.19 acre commercial land parcel on a busy street.
      800 Oak St, Old Forge, PA 18518
      View Details
    • Contact for pricing
      87,000 SF

      Old Forge Warehouse Space

      Warehouse space available off Main St in Old Forge, PA.
      301 1 St, Old Forge, PA 18518
      View Details
    • $130,000
      1.62 Acres

      Land in Prime Location

      1.62 acres of land in Old Forge, Pennsylvania.
      1149 Bennett St, Old Forge, PA 18518
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1225 Main St
    Old Forge, PA 18518-2350
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!