Two-Unit Duplex with
For Sale
$139,000
Pending
545 Hickory Street, Scranton, PA 18505
MULTI_FAMILY - Other - Scranton, PA
Property Size1,600 SF
Lot Size0.05 Acres
Days on Market23
Property Features for 545 Hickory Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Zoning description
Residential
Bedrooms
2
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1
Parking features
Off Street, On Street
Basement
Full
Appliances
Dishwasher, Washer/Dryer, Refrigerator, Gas Water Heater, Electric Range, Electric Oven
Lot features
Level
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Pittston Ave to right on Hickory- house on left
Standard status
Pending
APN
15616040066
Size
1,600 SF
Lot size
0.05 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
45X45 W-19 B-001 L-015B P-019
Tax Annual Amount
3522
Legal Description
45X45 W-19 B-001 L-015B P-019
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas
Cooling system
Ceiling Fan(s)
Water source
Public
Amenities
washer/dryer
Building Details
Year built
1930
Floors in Building
2
Number of units
2
Flooring type
Tile, Laminate, Hardwood
Building materials
Stone, Stucco
Roof type
Composition
Architectural style
Other
Listing Agency:
C21 Jack Ruddy Real Estate · Century 21 Real Estate
(570) 344-6724
Listed By:
Connie L Seagraves
(570) 983-7434
Added: Jul 22
Changed: Aug 11
Last Checked: Aug 13 at 2:06AM
MLS# SC263617
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 1,600-square-foot duplex occupies a 0.05-acre lot and was built in 1930. The first floor contains a remodeled studio, while the upper level offers a one-bedroom apartment with a full bathroom, newer kitchen, washer/dryer, and ample living room. Stone and stucco construction, hardwood, tile and laminate flooring, natural-gas heating, and ceiling fans are included. Appliances include a dishwasher, refrigerator, electric range, electric oven, and gas water heater.
The property is served by public water and public sewer, with off-street parking on the side and additional street parking. The second-floor unit has separate electric service. The landlord pays the first-floor electric, furnace, heat, sewer, and water expenses. R-2 zoning is in place; zoning approval would be required for a small, low-traffic business. The building was previously used as a law office.
The property is served by public water and public sewer, with off-street parking on the side and additional street parking. The second-floor unit has separate electric service. The landlord pays the first-floor electric, furnace, heat, sewer, and water expenses. R-2 zoning is in place; zoning approval would be required for a small, low-traffic business. The building was previously used as a law office.
Key Highlights
- 1,600 SF duplex on a 0.05‑acre lot
- Remodeled first‑floor studio and one‑bedroom apartment upstairs
- Upper unit includes full bath, newer kitchen, washer/dryer, and ample living room
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
$12,335
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
8.87%
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%
$246,700
$246.7K
Cap Rate 7%
$176,214
$176.2K
Cap Rate 9%
$137,056
$137.1K
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
$23.8K $14.88/SF
− Vacancy
−$1.4K −$0.86/SF
EGI
$22.4K $14.02/SF
− OpEx
−$10.1K −$6.31/SF
NOI
$12.3K $7.71/SF
Area
Lackawanna County, PA
Vacancy
5.80%
Lease Rate
$14.88 /SF/Yr
Expense Ratio
45.00%
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%
$246,700
Cap Rate 7%
$176,214
Cap Rate 9%
$137,056
Alternative Uses
Best Use
Multifamily LT 5
$188.5K
$164.9K – $219.9K
NOI $13,195 @ 7.0% cap · market cap 9.49%
Second Best
Apartment 5plus
$176.2K
$154.2K – $205.6K
NOI $12,335 @ 7.0% cap · market cap 8.87%
Theoretical Best
Office A
$406.1K
$355.4K – $473.8K
NOI $28,428 @ 7.0% cap · market cap 20.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
891
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?
Duplex - The R-2-zoned property includes side and street parking.
Where is this duplex located?
The property is located at 545 Hickory Street Scranton, PA.
What is the asking price?
The asking price for this property is $139,000.
What are key features of this property?
This property features: 1,600 SF duplex on a 0.05‑acre lot; Remodeled first‑floor studio and one‑bedroom apartment upstairs; Upper unit includes full bath, newer kitchen, washer/dryer, and ample living room
