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    Turn-Key Scranton Income Property Title is generated by Realmo AI

    1121 Albright Avenue, Scranton, PA 18508

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    For Sale
    $110,000

    MULTI_FAMILY - Other - Scranton, PA

    Property size:
    1,116 SF
    Lot size:
    0.06 Acres
    Price / SF:
    $98/SF
    Added:
    Nov 28, 2025
    Days on Market:
    176
    Last Refresh:
    May 23 at 4:06 pm

    Property Features for 1121 Albright Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R2
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bedroom 2, Basement, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 1
    Parking features
    On Street
    Window features
    Aluminum Frames
    Patio and Porch features
    Porch
    Exterior features
    Private Yard
    Fencing
    Chain Link
    Basement
    Walk-Out Access, Unfinished
    Appliances
    Electric Range, Refrigerator
    Standard status
    Active
    APN
    14508030034
    Size
    1,116 SF
    Lot size
    0.06 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    B-0430 L-015A
    Tax Annual Amount
    1917

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1943
    Floors in Building
    2
    Number of units
    2
    Flooring type
    Varies
    Building materials
    Aluminum Siding
    Roof type
    Composition, Wood
    Architectural style
    Other

    We can help!

    Listing Contact
    Joanne L. Rezzino

    Listing agent Joanne L. Rezzino License #RS368675

    Listing office C21 Jack Ruddy Real Estate 111 W Drinker St, Dunmore, PA

    Listing date Nov 28, 2025

    MLS# SC256249 Listing URL

    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.

    HighLights

    • Fully rented 2‑unit property provides instant cash flow.
    • Low property taxes.
    • Strong rental history with long‑term tenants.
    • Tenants pay water/sewer.
    • Price reduced for a second time.
    • Includes appliances: Electric Range and Refrigerator.

    Overview

    This fully rented 2-unit multi-family property is located in North Scranton. The property offers immediate income potential. The property, with a size of 1116 square feet, is situated on a lot of approximately 0.059 acres. The property is zoned R2. The property needs substantial repairs and updates and is being sold as-is. Deferred maintenance should be expected. Tenants cover water and sewer, while the owner is responsible for gas, electric, taxes, and insurance. The property lies in a flood zone, and buyers should verify insurance requirements, as premiums depend on loan type and coverage levels. The property has a strong rental history with long-term tenants. Tenants are currently on a month-to-month basis.

    Financial Insights

    Value Estimation Calculated for Multifamily LT 5

    Conservative
    $102.3K
    NOI $9,203 @ 9.00% cap · cautious / downside scenario
    Moderate
    $131.5K
    NOI $9,203 @ 7.00% cap · market / base-case scenario
    Aggressive
    $184.1K
    NOI $9,203 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    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.
         Calculated for Multifamily LT 5

    Component $ $/SF
    Gross rent $14.1k $12.60
    − Vacancy −$914 −$0.82
    EGI $13.1k $11.78
    − OpEx −$3.9k −$3.53
    NOI $9.2k $8.25
    1,116 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%

    Alternative Use Scenarios

    Best Use
    Multifamily LT 5
    $131.5K
    $115.0K – $153.4K (±1% cap)
    NOI $9,203 @ 7.0% cap · market cap 8.37%
    Second Best
    Apartment 5plus
    $122.9K
    $107.6K – $143.4K (±1% cap)
    NOI $8,604 @ 7.0% cap · market cap 7.82%
    Theoretical Best
    Office A
    $283.3K
    $247.9K – $330.5K (±1% cap)
    NOI $19,828 @ 7.0% cap · market cap 18.03%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.661192
    Latitude
    41.425863

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    FAQs

    What type of property is this?
    Duplex - Fully rented 2-unit in North Scranton with instant cash flow.
    Where is this duplex located?
    The property is located at 1121 Albright Avenue Scranton, PA.
    What is the asking price?
    The asking price for this property is $110,000.
    What are key features of this property?
    This property features: Fully rented 2‑unit property provides instant cash flow.; Low property taxes.; Strong rental history with long‑term tenants.
    (570) 212-0688
    We can help!
    Listing Contact
    Joanne L. Rezzino
    Real Estate License ID: RS368675
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    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.

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