Four Units Plus Garage
1142 Academy Street, Scranton, PA 18504
New
MULTI_FAMILY - Scranton, PA
Property size:
3,719 SFLot size:
0.13 AcresPrice / SF:
$126/SF- Added:
- May 9, 2026
- Days on Market:
- 7
- Last Refresh:
- May 15 at 7:06 pm
Property Features for 1142 Academy Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R2
- Bedrooms
- 9
- Bathrooms
- 5
- Rooms
- Bedroom 5, Bathroom 1, Bathroom 2, Bedroom 8, Bathroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Basement, Bedroom 3, Bathroom 3, Bathroom 4, Bedroom 9, Bedroom 7, Bedroom 6
- Basement
- Unfinished
- Standard status
- Active
- APN
- 14517060052
- Size
- 3,719 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2025
Building Details
- Year built
- 1920
- Floors in Building
- 2
- Number of units
- 4
Listing agent Thomas Meyer License #RS346125 (570) 793-5284
Listing office Berkshire Hathaway Home Services Preferred Properties 721 S. State St., Clarks Summit, PA (570) 585-1500
Listing date May 9, 2026
MLS# SC262067
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
- Four units (3 in one building, 1 single‑family home) and a garage on one lot offer significant income potential or owner‑occupancy options.
- Newly renovated units with separate gas heat and electric meters simplify management and tenant billing.
- Two vacant 1‑bedroom units are ready to rent for immediate income generation.
- Updated mechanicals including new gas furnaces with forced air heat, new water heaters, updated electrical, and plumbing.
- Renovations include new floors, kitchens, bathrooms, and siding.
- Detached garage provides additional income potential or owner convenience.
Overview
This property features two buildings with a total of four units and a detached garage, all situated on the same lot in Central Scranton. The property includes a large three-unit building on Academy Street and a single-family, three-bedroom home on Rachel Place. The units have been recently renovated and are equipped with separate gas heat and electric meters. The left side of the building contains two vacant one-bedroom units ready for rental. The right side features one four-bedroom unit with two bathrooms, which is currently rented. The property includes three new gas furnaces with forced air heat, new water heaters, floors, kitchens, bathrooms, and siding. Updated electrical, plumbing, and windows are present throughout. The property offers the option to live in the three-bedroom home with a garage or rent all four units and the garage. The property is zoned R2 and has outstanding income potential. The lot size is 0.13 acres, and the property size is 3719 square feet.
Financial Insights
Value Estimation Calculated for Apartment 5plus
Conservative
$318.6K
NOI $28,671 @ 9.00% cap · cautious / downside scenario
Moderate
$409.6K
NOI $28,671 @ 7.00% cap · market / base-case scenario
Aggressive
$573.4K
NOI $28,671 @ 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 Apartment 5plus
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $55.3k | $14.88 |
| − Vacancy | −$3.2k | −$0.86 |
| EGI | $52.1k | $14.02 |
| − OpEx | −$23.5k | −$6.31 |
| NOI | $28.7k | $7.71 |
3,719 SF · lease $14.88/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Use Scenarios
Best Use
Apartment 5plus
$409.6K
$358.4K – $477.9K
NOI $28,671 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$944.0K
$826.0K – $1.10M
NOI $66,077 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Multifamily properties
Location Insight
- Map
- Local Demand
- City
- Scranton
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.684339
- Latitude
- 41.411093
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Four units and a garage on the same lot.
Where is this multifamily property located?
The property is located at 1142 Academy Street Scranton, PA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Four units (3 in one building, 1 single‑family home) and a garage on one lot offer significant income potential or owner‑occupancy options.; Newly renovated units with separate gas heat and electric meters simplify management and tenant billing.; Two vacant 1‑bedroom units are ready to rent for immediate income generation.
