Updated Two-Unit Multifamily
For Sale
$165,000
428 Railroad Avenue, Scranton, PA 18505
Residential Income, Scranton, PA
Property Size1,600 SF
Lot Size0.13 Acres
Price / SF$103.13
Days on Market142
Property Features for 428 Railroad Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 2, Basement, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 5, Bedroom 6, Bedroom 4
Parking features
On Street
Window features
Insulated Windows, Double Pane Windows
Patio and Porch features
Porch
Basement
Dirt Floor
Appliances
Free-Standing Gas Oven, Refrigerator, Gas Water Heater
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
make left or right off Luzerne St. and home is on the right.
Standard status
Active
APN
15648010026
Size
1,600 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
28X201 W-06 B-0100 L-009B P-01100
Tax Annual Amount
3545
Legal Description
28X201 W-06 B-0100 L-009B P-01100
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1954
Floors in Building
2
Number of units
2
Flooring type
Vinyl
Building materials
Wood Siding
Roof type
Shingle
Architectural style
Other
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties · Berkshire Hathaway HomeServices
(570) 585-1500
Listed By:
William Pregmon
(570) 209-1941
Added: Apr 30
Changed: Sep 12
Last Checked: Sep 18 at 8:06AM
MLS# SC261842
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.
Investment Insights
Based on property information with market context.
This 1954 duplex contains two residential units, each arranged with three bedrooms and one bathroom. The property offers 1,600 square feet on a 0.13-acre lot, with vinyl flooring, wood siding, natural-gas forced-air heat, window-unit cooling, and a porch. Recent work includes new flooring, a gas water heater, and a new shingle roof.
One unit is occupied while the other is vacant, providing a combination of existing tenancy and near-term leasing flexibility. Separate electric meters assign electrical usage by unit. Public water and public sewer serve the property, and on-street parking is available.
Located at 428 Railroad Avenue in Scranton, the duplex provides access to downtown amenities, universities, major employers, and I-81. The property is zoned R1 and includes a basement, gas oven, and refrigerator.
One unit is occupied while the other is vacant, providing a combination of existing tenancy and near-term leasing flexibility. Separate electric meters assign electrical usage by unit. Public water and public sewer serve the property, and on-street parking is available.
Located at 428 Railroad Avenue in Scranton, the duplex provides access to downtown amenities, universities, major employers, and I-81. The property is zoned R1 and includes a basement, gas oven, and refrigerator.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 1 bathroom in each unit
- 1,600 square feet on a 0.13‑acre lot
- One unit occupied; second unit vacant
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
$13,195
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
8.00%
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%
$263,900
$263.9K
Cap Rate 7%
$188,500
$188.5K
Cap Rate 9%
$146,611
$146.6K
Market Conditions
NOI Build-Up for 1,600 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
$20.2K $12.60/SF
− Vacancy
−$1.3K −$0.82/SF
EGI
$18.8K $11.78/SF
− OpEx
−$5.7K −$3.53/SF
NOI
$13.2K $8.25/SF
Area
Lackawanna County, PA
Vacancy
6.50%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
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%
$263,900
Cap Rate 7%
$188,500
Cap Rate 9%
$146,611
Alternative Uses
Best Use
Multifamily LT 5
$188.5K
$164.9K – $219.9K
NOI $13,195 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$176.2K
$154.2K – $205.6K
NOI $12,335 @ 7.0% cap · market cap 7.48%
Theoretical Best
Office A
$406.1K
$355.4K – $473.8K
NOI $28,428 @ 7.0% cap · market cap 17.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,819
Businesses Nearby
Explore this area
Business Placement
Demographics for 18505, PA
20,982
Population
9,996
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
2,384
Density / Sq Mi
$52,599
Median Household Income
$34,155
Median Earnings
$954
Median Rent
$139,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - R1-zoned duplex with one occupied unit and one available for leasing.
Where is this duplex located?
The property is located at 428 Railroad Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $165,000.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 1 bathroom in each unit; 1,600 square feet on a 0.13‑acre lot; One unit occupied; second unit vacant
