Updated Duplex with Finished
1016-1018 Diamond Avenue Scranton, PA 18508
1016-1018 Diamond Avenue, Scranton, PA, 18508
$288,400
Pending
For Sale
$288,400
Pending
MULTI_FAMILY - Scranton, PA
Property Size2,550 SF
Lot Size0.14 Acres
Days on Market50
Property Features for 1016-1018 Diamond Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R10
- Bedrooms
- 6
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 3, Bedroom 4, Basement, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 6, Bedroom 5
- Parking
- 4
- Parking features
- Off Street
- Patio and Porch features
- Porch
- Interior features
- Ceiling Fan(s), Attic Storage, Attic Finished
- Exterior features
- Private Yard
- Fencing
- Chain Link
- Basement
- Unfinished, Exterior Entry, Full
- Appliances
- Electric Range, Refrigerator, Washer/Dryer, Microwave
- Standard status
- Pending
- APN
- 14508010010
- Size
- 2,550 SF
- Lot size
- 0.14 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 40X150 J L Payne Property L 1 W-21 B-064 L-004 P-004
- Tax Annual Amount
- 4024
Utilities
- Sewer type
- Public Sewer
- Heating system
- Steam, Baseboard, Natural Gas
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1940
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Laminate, Tile
- Building materials
- Aluminum Siding
- Roof type
- Composition, Shingle
- Additional Structures
- Storage
Listing agency
C21 Jack Ruddy Real Estate
(570) 344-6724
Listed by
James Caceres
(570) 352-7106
Added: Jun 4 Updated: Jul 9 at 3:37AM Checked: Jul 23 at 1:06AM
MLS# SC262629
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 updated two-unit duplex features two separate residences, each offering three bedrooms and one bathroom. Both units include large rooms and closet space designed for practical everyday living. Additional flexible space is provided by a finished attic that can serve as an extra bedroom or storage, depending on the needs of the occupant.
The property sits on a 0.14-acre lot and includes a large yard with off-street parking. The listing describes convenient access to parks, restaurants, shopping, and highways, with the property minutes from Downtown Scranton.
From a tenant or owner-occupant standpoint, the duplex layout supports multiple living arrangements within one building, with each unit configured similarly for consistency and manageability. The finished attic adds usable area beyond the primary bedroom and bathroom footprint, which can be valuable for larger households or for occupants who need additional storage. The combination of remodeled interiors, two units, and off-street parking can fit buyers looking for residential income or a first-time purchase that combines owner-occupancy with rental utility. All information is approximate and not warranted or guaranteed.
The property sits on a 0.14-acre lot and includes a large yard with off-street parking. The listing describes convenient access to parks, restaurants, shopping, and highways, with the property minutes from Downtown Scranton.
From a tenant or owner-occupant standpoint, the duplex layout supports multiple living arrangements within one building, with each unit configured similarly for consistency and manageability. The finished attic adds usable area beyond the primary bedroom and bathroom footprint, which can be valuable for larger households or for occupants who need additional storage. The combination of remodeled interiors, two units, and off-street parking can fit buyers looking for residential income or a first-time purchase that combines owner-occupancy with rental utility. All information is approximate and not warranted or guaranteed.
Key Highlights
- Two‑unit property built in 1940, each unit with 3 bedrooms and 1 bathroom
- Finished attic adds extra bedroom or storage space
- Large yard with chain‑link fencing and a porch
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $32.1k | $12.60 |
| − Vacancy | −$2.1k | −$0.82 |
| EGI | $30.0k | $11.78 |
| − OpEx | −$9.0k | −$3.53 |
| NOI | $21.0k | $8.25 |
2,550 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$300.4K
$262.9K – $350.5K
NOI $21,029 @ 7.0% cap · market cap 7.29%
Second Best
Apartment 5plus
$280.8K
$245.7K – $327.7K
NOI $19,659 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$647.2K
$566.3K – $755.1K
NOI $45,307 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Remodeled two-unit duplex with 3 bedrooms per unit, off-street parking, and finished attic space.
Where is this duplex located?
The property is located at 1016-1018 Diamond Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $288,400.
What are key features of this property?
This property features: Two‑unit property built in 1940, each unit with 3 bedrooms and 1 bathroom; Finished attic adds extra bedroom or storage space; Large yard with chain‑link fencing and a porch
