Scranton Investment Property
1522-1524 1508 Elizabeth Street, Scranton, PA 18504
MULTI_FAMILY - Ranch - Scranton, PA
Type:Single Family Residence
Property size:
3,820 SFLot size:
0.19 AcresPrice / SF:
$111/SF- Added:
- May 7, 2026
- Days on Market:
- 9
- Last Refresh:
- May 15 at 8:06 pm
Property Features for 1522-1524 1508 Elizabeth Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Single Family Residence
- Zoning
- Res MF
- Bedrooms
- 9
- Bathrooms
- 3
- Rooms
- Bedroom 2, Bedroom 5, Bedroom 1, Bedroom 7, Bedroom 8, Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 6, Bathroom 1, Bedroom 9, Basement, Bedroom 4
- Parking features
- Off Street, On Street, Garage, Driveway
- Patio and Porch features
- Porch
- Interior features
- Ceiling Fan(s), Eat-in Kitchen
- Exterior features
- Private Yard
- Basement
- Unfinished
- Appliances
- Oven, Range
- Standard status
- Active
- APN
- 13419010076
- Size
- 3,820 SF
- Lot size
- 0.19 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- There are 2 properties on this property
- Tax Annual Amount
- 5722
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1960
- Floors in Building
- 2
- Number of units
- 3
- Flooring type
- Carpet, Tile
- Building materials
- Asbestos, Stone, Stucco
- Roof type
- Shingle
- Architectural style
- Ranch
Listing agent Leah Gianacopoulos License #RS325414 (570) 947-9250
Listing office ERA One Source Realty 230 Northern Blvd., Clarks Summit, PA (570) 587-9999
Listing date May 7, 2026
MLS# SC262051
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
- Multiple income streams: fully rented duplex and a single‑family home.
- Prime location in the desirable Tripps Park area of West Scranton, close to amenities and major routes.
- Investment/owner‑occupant opportunity: ideal for investors or those seeking a primary residence with rental income.
- Well‑maintained property: cared for by the same family for many years.
- Separate utilities in the duplex for simplified tenant management.
- Garage and basement storage available for tenants.
Overview
This property package presents an investment opportunity in the Tripps Park section of West Scranton. The offering includes a side-by-side duplex and a single-family home, situated on a corner lot. The duplex is fully rented with month-to-month tenants and features separate utilities for each unit. Each side of the duplex includes spacious living rooms, kitchens, dining areas, laundry spaces, and basements for storage. Garage storage is also available. The single-family home offers 3 bedrooms, 1 bathroom, a kitchen, and living space. The properties have been maintained and offer income-producing potential. The location provides convenient access to shopping, schools, restaurants, and major routes. The property size is 3820 square feet on a 0.19-acre lot. The zoning is Res MF.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$350.0K
NOI $31,502 @ 9.00% cap · cautious / downside scenario
Moderate
$450.0K
NOI $31,502 @ 7.00% cap · market / base-case scenario
Aggressive
$630.0K
NOI $31,502 @ 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 | $48.1k | $12.60 |
| − Vacancy | −$3.1k | −$0.82 |
| EGI | $45.0k | $11.78 |
| − OpEx | −$13.5k | −$3.53 |
| NOI | $31.5k | $8.25 |
3,820 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$450.0K
$393.8K – $525.0K
NOI $31,502 @ 7.0% cap · market cap 7.41%
Second Best
Apartment 5plus
$420.7K
$368.1K – $490.8K
NOI $29,450 @ 7.0% cap · market cap 6.93%
Theoretical Best
Office A
$969.6K
$848.4K – $1.13M
NOI $67,871 @ 7.0% cap · market cap 15.97%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Duplexes
Location Insight
- Map
- Local Demand
- City
- Scranton
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.674503
- Latitude
- 41.427932
Nearby Similar for Sale
FAQs
What type of property is this?
Multifamily property - Well-maintained multi-family and single-family homes in desirable location.
Where is this multifamily property located?
The property is located at 1522-1524 1508 Elizabeth Street Scranton, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Multiple income streams: fully rented duplex and a single‑family home.; Prime location in the desirable Tripps Park area of West Scranton, close to amenities and major routes.; Investment/owner‑occupant opportunity: ideal for investors or those seeking a primary residence with rental income.
