Two-Unit Duplex with Detached
For Sale
$230,000
1004 Monroe Ave, Scranton, PA 18510
Two spacious residential units feature separate utilities, original character, and access to a detached garage.
Property Size2,500 SF
Price / SF$92
Days on Market13
Property Features for 1004 Monroe Ave
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
ready for a refresh
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,028
Amenities
yard
detached garage
Listing Agency:
Levy Realty Group
(570) 840-2677
Listed By:
Sara Levy
(570) 840-2677
Source:
Exprealty
Added: Aug 11
Changed: Aug 20
Last Checked: Aug 22 at 1:15PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Levy Realty Group
Investment Insights
Based on property information with market context.
This 2,500-square-foot duplex contains two residential units, each measuring approximately 1,250 square feet with two bedrooms, one full bathroom, a living room, dining room, and kitchen. Original interior character remains, while the property also includes a small yard and detached garage. Separate utilities serve the units, and garage access is provided by an easement over the neighboring property.
The second-floor apartment is occupied by a long-term tenant. The first-floor unit was previously owner-occupied and is ready for updating and placement of a new tenant. The property is near a medical school, local universities, and downtown Scranton, providing a central setting for both residential occupancy and rental use.
The second-floor apartment is occupied by a long-term tenant. The first-floor unit was previously owner-occupied and is ready for updating and placement of a new tenant. The property is near a medical school, local universities, and downtown Scranton, providing a central setting for both residential occupancy and rental use.
Key Highlights
- Two‑unit duplex totaling 2,500 square feet
- Each unit is approximately 1,250 square feet with 2 bedrooms and 1 full bathroom
- Separate utilities for each residential unit
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
$20,617
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
8.96%
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%
$412,340
$412.3K
Cap Rate 7%
$294,529
$294.5K
Cap Rate 9%
$229,078
$229.1K
Market Conditions
NOI Build-Up for 2,500 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
$31.5K $12.60/SF
− Vacancy
−$2.0K −$0.82/SF
EGI
$29.5K $11.78/SF
− OpEx
−$8.8K −$3.53/SF
NOI
$20.6K $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%
$412,340
Cap Rate 7%
$294,529
Cap Rate 9%
$229,078
Alternative Uses
Best Use
Multifamily LT 5
$294.5K
$257.7K – $343.6K
NOI $20,617 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$275.3K
$240.9K – $321.2K
NOI $19,273 @ 7.0% cap · market cap 8.38%
Theoretical Best
Office A
$634.5K
$555.2K – $740.3K
NOI $44,418 @ 7.0% cap · market cap 19.31%
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
1,508
Businesses Nearby
Explore this area
Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
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 - Two spacious residential units feature separate utilities, original character, and access to a detached garage.
Where is this duplex located?
The property is located at 1004 Monroe Ave Scranton, PA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: Two‑unit duplex totaling 2,500 square feet; Each unit is approximately 1,250 square feet with 2 bedrooms and 1 full bathroom; Separate utilities for each residential unit
