Three-Unit Property with
New
For Sale
$260,000
1011 W Market Street, Scranton, PA 18508
Residential Income, Scranton, PA
Property Size2,830 SF
Lot Size0.14 Acres
Price / SF$91.87
Days on Market2
Property Features for 1011 W Market Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Residential
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 1, Bedroom 1, Basement, Bathroom 3, Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 4
Parking features
Off Street, On Street, Driveway
Patio and Porch features
Porch
Exterior features
Balcony
Basement
Partial
Appliances
Electric Range, Oven, Refrigerator
Elementary school district
Scranton School District
Middle school district
Scranton School District
High school district
Scranton School District
Directions
Take the Keyser Ave. Exit..go towards the Mall Complex. Take through and left onto W Market..continue down and house on the Left.
Standard status
Active
APN
12315020039
Size
2,830 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Annual Amount
287
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Propane (Heating)
Water source
Public
Amenities
yard
off-street parking
detached two-car garage
Building Details
Year built
1960
Floors in Building
3
Number of units
3
Flooring type
Carpet
Listing Agency:
SIX PM LLC
(570) 352-5162
Listed By:
Jeremy J Watson · License #RM425357
(570) 352-5162
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 3:06PM
MLS# PW-263030
Copyright © 2026 Pike/Wayne Association 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 2,830-square-foot triplex, built in 1960, contains three residential units arranged across the first, second, and third floors. The configuration includes one one-bedroom apartment and two two-bedroom apartments. The property also includes a basement, porch, balcony, carpeted flooring, and an appliance package with an electric range, oven, and refrigerator. Heating is identified as natural gas and propane.
The 0.14-acre parcel is served by public water and public sewer. Parking is available off street, in the driveway, and on the street, while a detached two-car garage provides additional onsite storage or parking capacity. Shopping, restaurants, colleges, and other major amenities are located nearby. The property is at 1011 W Market Street in Scranton, Pennsylvania.
The 0.14-acre parcel is served by public water and public sewer. Parking is available off street, in the driveway, and on the street, while a detached two-car garage provides additional onsite storage or parking capacity. Shopping, restaurants, colleges, and other major amenities are located nearby. The property is at 1011 W Market Street in Scranton, Pennsylvania.
Key Highlights
- Three‑unit layout with one one‑bedroom apartment and two two‑bedroom apartments
- 2,830 square feet on a 0.14‑acre parcel
- Detached two‑car garage
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
$23,338
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
8.98%
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%
$466,760
$466.8K
Cap Rate 7%
$333,400
$333.4K
Cap Rate 9%
$259,311
$259.3K
Market Conditions
NOI Build-Up for 2,830 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
$35.7K $12.60/SF
− Vacancy
−$2.3K −$0.82/SF
EGI
$33.3K $11.78/SF
− OpEx
−$10.0K −$3.53/SF
NOI
$23.3K $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%
$466,760
Cap Rate 7%
$333,400
Cap Rate 9%
$259,311
Alternative Uses
Best Use
Multifamily LT 5
$333.4K
$291.7K – $389.0K
NOI $23,338 @ 7.0% cap · market cap 8.98%
Second Best
Apartment 5plus
$311.7K
$272.7K – $363.6K
NOI $21,817 @ 7.0% cap · market cap 8.39%
Theoretical Best
Office A
$718.3K
$628.5K – $838.0K
NOI $50,281 @ 7.0% cap · market cap 19.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
519
Businesses Nearby
Explore this area
Business Placement
Demographics for 18508, PA
11,664
Population
5,466
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,715
Density / Sq Mi
$44,706
Median Household Income
$31,055
Median Earnings
$1,034
Median Rent
$120,700
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?
Triplex - Residential triplex with varied unit layouts, off-street parking, a detached garage, and a private yard.
Where is this triplex located?
The property is located at 1011 W Market Street Scranton, PA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Three‑unit layout with one one‑bedroom apartment and two two‑bedroom apartments; 2,830 square feet on a 0.14‑acre parcel; Detached two‑car garage
