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    724 Court St Scranton, PA 18508

    View on Map
    Sponsored
    For Sale
    $299,900

    MULTI_FAMILY - Scranton, PA

    Property size:
    5,264 SF
    Lot size:
    0.90 Acres
    Days on Market:
    3
    Last Refresh:
    Mar 13 at 9:06 am

    Property Features for 724 Court St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R2
    Rooms
    Bedroom 11, Bedroom 5, Bedroom 4, Bedroom 9, Bedroom 13, Bedroom 12, Bedroom 2, Bedroom 8, Bedroom 15, Bathroom 1, Bedroom 14, Bathroom 2, Bedroom 6, Bathroom 4, Bedroom 3, Bedroom 7, Basement, Bathroom 3, Bedroom 1, Bedroom 10, Bedroom 16
    Bedrooms
    16
    Bathrooms
    4
    APN
    13420020052
    Parking features
    On Street
    Patio and Porch features
    Porch
    Interior features
    High Ceilings
    Exterior features
    Private Yard
    Basement
    Unfinished
    Size
    5,264 SF
    Lot size
    0.90 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Electric (Heating)
    Water source
    Public

    Building Details

    Year built
    1910
    Floors in Building
    3
    Number of units
    4
    Flooring type
    Vinyl, Wood, Linoleum
    Roof type
    Shingle

    We can help!

    Listing Contact
    Thomas Exeter

    Christian Saunders Real Estate (570) 947-3292

    Listing agent Thomas Exeter (570) 335-9000

    Listing date Mar 11, 2026

    MLS# SC260931

    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.

    Learn more

    Property Insight Report

    Overview

    Spacious Scranton Multifamily Investment Opportunity

    This large 4-unit multifamily property offers over 5,000 square feet of living space. Located in a desirable neighborhood of Scranton, Pennsylvania, it is close to schools, shopping, and downtown. The building contains two 5-bedroom units and two 3-bedroom units, each with its own kitchen and full bathroom. Every unit includes washer and dryer hookups. The property has been updated with new electrical panels for each unit along with updated plumbing and electrical systems. The building is equipped with electric heat, with tenants responsible for their own utilities. The property is situated on a 0.9-acre lot. The zoning is R2. According to the city, it is currently classified as a 2-unit building, and the new buyer would need to take steps to restore its status as a 4-unit property. The owner is in the process of getting it out of condemnation. The property is being sold AS-IS, and buyers are advised to conduct their own due diligence. The property is located in Lackawanna County, with a postal code of 18508.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bella wholesale inc Big Box & Wholesale Store

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scranton
    County
    Lackawanna
    State
    Pennsylvania
    Longitude
    -75.66374
    Latitude
    41.427855

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    FAQs

    What type of property is this?
    Quadplex - Large 4-unit property in desirable location, great investment potential.
    Where is this quadplex located?
    The property is located at 724 Court St Scranton, PA.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: - Strong rental income potential with four units, including two 5-bedroom and two 3-bedroom apartments, each featuring a kitchen and full bathroom.; - Prime location near schools, shopping, and downtown.; - Updated electrical and plumbing systems, including new electrical panels for each unit.
    (570) 499-3333
    Request Owner's contact information
    724 Court St Scranton, PA 18508
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    Scranton, PA 18508
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    724 Court St Scranton, PA 18508
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    We can help!
    Listing Contact
    Thomas Exeter
    Real Estate License ID: RS353357
    (570) 499-3333 (800) 372-4222 (570) 335-9000
    Learn more
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