Two-Bedroom Duplex with Off-Street
For Sale
$259,000
638 Willow Street, Scranton, PA 18505
MULTI_FAMILY - Scranton, PA
Property Size2,176 SF
Lot Size0.15 Acres
Price / SF$119.03
Days on Market81
Property Features for 638 Willow Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Basement, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 2, Bathroom 1
Basement
Concrete
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Pittston Ave from central city, left onto Willow St, past Prospect Ave, house is on the right
Standard status
Active
APN
15620020062
Size
2,176 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
40X162 Li&C Town Plot L 20 B 93 W-19 B-014 L-025 P-029
Legal Description
40X162 Li&C Town Plot L 20 B 93 W-19 B-014 L-025 P-029
Amenities
washer and dryer
large backyard
Building Details
Year built
1935
Floors in Building
2
Number of units
2
Listing Agency:
EXP Realty LLC
(888) 397-7352
Listed By:
The Adriana Jez Team · License #17587
(570) 799-9235
Added: Jun 12
Changed: Aug 4
Last Checked: Aug 31 at 3:06PM
MLS# SC262780
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 well-maintained duplex offers two units, each with two bedrooms, one full bathroom, a bright living room, and an eat-in kitchen. Built in 1935, the property includes updates such as replacement windows and a newer water heater. For added tenant convenience, each unit has its own washer and dryer. A large backyard and off-street parking round out the outdoor space for everyday use.
The property sits on a 0.15-acre lot, with 2,176 square feet of building area. It is located in South Scranton near downtown Scranton, shopping, restaurants, schools, and major highways, supporting both owner-occupant living and rental use.
Each unit’s practical layout and in-unit laundry make this duplex a straightforward house-hack or income-focused ownership opportunity.
The property sits on a 0.15-acre lot, with 2,176 square feet of building area. It is located in South Scranton near downtown Scranton, shopping, restaurants, schools, and major highways, supporting both owner-occupant living and rental use.
Each unit’s practical layout and in-unit laundry make this duplex a straightforward house-hack or income-focused ownership opportunity.
Key Highlights
- Two units with two bedrooms and one full bathroom per unit
- Replacement windows and a newer water heater
- Each unit includes its own washer and dryer
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
$17,945
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
6.93%
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%
$358,900
$358.9K
Cap Rate 7%
$256,357
$256.4K
Cap Rate 9%
$199,389
$199.4K
Market Conditions
NOI Build-Up for 2,176 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
$27.4K $12.60/SF
− Vacancy
−$1.8K −$0.82/SF
EGI
$25.6K $11.78/SF
− OpEx
−$7.7K −$3.53/SF
NOI
$17.9K $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%
$358,900
Cap Rate 7%
$256,357
Cap Rate 9%
$199,389
Alternative Uses
Best Use
Multifamily LT 5
$256.4K
$224.3K – $299.1K
NOI $17,945 @ 7.0% cap · market cap 6.93%
Second Best
Apartment 5plus
$239.6K
$209.7K – $279.6K
NOI $16,775 @ 7.0% cap · market cap 6.48%
Theoretical Best
Office A
$552.3K
$483.3K – $644.4K
NOI $38,662 @ 7.0% cap · market cap 14.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
912
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
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two units, each offering two bedrooms, and off-street parking plus a large backyard.
Where is this duplex located?
The property is located at 638 Willow Street Scranton, PA.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Two units with two bedrooms and one full bathroom per unit; Replacement windows and a newer water heater; Each unit includes its own washer and dryer
