Four-Unit
For Sale
$360,000
439 Alder Street, Scranton, PA 18505
Residential Income, Scranton, PA
Property Size2,900 SF
Lot Size0.06 Acres
Price / SF$124.14
Days on Market714
Property Features for 439 Alder Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RT006
Zoning description
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 8, Bedroom 4, Basement, Bedroom 6, Bedroom 7, Bathroom 4, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 1
Parking features
On Street
Patio and Porch features
Porch
Interior features
Eat-in Kitchen
Basement
Walk-Out Access, Unfinished
Appliances
Gas Range, Refrigerator
Lot features
City Lot
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From central city take Pittston Avenue and turn on Alder. No sign
Standard status
Active
APN
15616020014
Size
2,900 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
3051
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Water source
Public
Building Details
Year built
1930
Floors in Building
2
Number of units
4
Flooring type
Carpet, Tile - Ceramic
Building materials
Vinyl Siding
Roof type
Asphalt
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
ROBERT REDGIL · License #RS281384
(570) 561-3868
Added: Sep 15, 2024
Changed: Aug 25
Last Checked: Aug 29 at 1:06AM
MLS# SC4839
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 four-unit residential income property contains 2,900 square feet on a 0.06-acre lot. Each apartment has two bedrooms, a bathroom with a walk-in shower, and an eat-in kitchen. Refrigerators and gas ranges are included, while interior finishes include carpet and ceramic tile. The building dates to 1930 and has vinyl siding, an asphalt roof, natural-gas heating, and a porch.
The property is located at 439 Alder Street in Scranton’s South Scranton area, near a commercial area and the central city. Public water and public sewer serve the property. Parking information is not characterized here because the source provides conflicting descriptions.
The property is located at 439 Alder Street in Scranton’s South Scranton area, near a commercial area and the central city. Public water and public sewer serve the property. Parking information is not characterized here because the source provides conflicting descriptions.
Key Highlights
- Four apartments, each with 2 bedrooms and a bathroom with a walk‑in shower
- 2,900 square feet on a 0.06‑acre lot
- Refrigerators and gas ranges included in all four units
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
$23,915
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
6.64%
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%
$478,300
$478.3K
Cap Rate 7%
$341,643
$341.6K
Cap Rate 9%
$265,722
$265.7K
Market Conditions
NOI Build-Up for 2,900 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
$36.5K $12.60/SF
− Vacancy
−$2.4K −$0.82/SF
EGI
$34.2K $11.78/SF
− OpEx
−$10.2K −$3.53/SF
NOI
$23.9K $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%
$478,300
Cap Rate 7%
$341,643
Cap Rate 9%
$265,722
Alternative Uses
Best Use
Multifamily LT 5
$341.6K
$298.9K – $398.6K
NOI $23,915 @ 7.0% cap · market cap 6.64%
Second Best
Apartment 5plus
$319.4K
$279.5K – $372.6K
NOI $22,357 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$736.1K
$644.1K – $858.8K
NOI $51,525 @ 7.0% cap · market cap 14.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,362
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four matching apartments feature two bedrooms, eat-in kitchens, gas appliances, and public utilities.
Where is this quadplex located?
The property is located at 439 Alder Street Scranton, PA.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms and a bathroom with a walk‑in shower; 2,900 square feet on a 0.06‑acre lot; Refrigerators and gas ranges included in all four units
