Duplex With Matching Two-Bed
For Sale
$220,000
Pending
1024 Maple Street, Scranton, PA 18505
Duplex with a move-in-ready downstairs unit and an upstairs level framed to the same two-bed, one-bath layout.
Property Size1,725 SF
Days on Market67
Property Features for 1024 Maple Street
General Information
Standard status
Pending
Size
1,725 SF
Property subtype
Multi Family
Building Details
Building Size
1,725 SF
Year Built
1940
Buildings
1
Tenancy
Multi
Listing Agency:
NASSER REAL ESTATE, INC.
Listed By:
Samantha E. Jankowski
(570) 815-3391
Source:
Luxehomesnepa
Added: Jul 19
Changed: Sep 9
Last Checked: Sep 22 at 10:01PM
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 NASSER REAL ESTATE, INC.
Investment Insights
Based on property information with market context.
This duplex includes two apartments with a matching two-bed, one-bath layout. The downstairs unit is described as move-in ready and needing only a few cosmetic updates. The upstairs level has been taken down to the studs and is framed to replicate the same 2 bed 1 bathroom configuration.
Built in 1940, the property offers a clear split between an immediately livable unit and a ready-to-complete second unit. That configuration can appeal to buyers seeking one unit that can be occupied sooner while the other unit is brought to completion.
The downstairs arrangement and the planned upstairs framing are aligned to the same functional layout, which may streamline design consistency and interior planning across both levels.
Built in 1940, the property offers a clear split between an immediately livable unit and a ready-to-complete second unit. That configuration can appeal to buyers seeking one unit that can be occupied sooner while the other unit is brought to completion.
The downstairs arrangement and the planned upstairs framing are aligned to the same functional layout, which may streamline design consistency and interior planning across both levels.
Key Highlights
- Duplex with matching two‑bed, one‑bath layout on both floors
- Downstairs apartment is move‑in ready, needing only cosmetic updates
- Upstairs is down to the studs and framed for the same 2 bed 1 bathroom layout
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
$14,226
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
6.47%
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%
$284,520
$284.5K
Cap Rate 7%
$203,229
$203.2K
Cap Rate 9%
$158,067
$158.1K
Market Conditions
NOI Build-Up for 1,725 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
$21.7K $12.60/SF
− Vacancy
−$1.4K −$0.82/SF
EGI
$20.3K $11.78/SF
− OpEx
−$6.1K −$3.53/SF
NOI
$14.2K $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%
$284,520
Cap Rate 7%
$203,229
Cap Rate 9%
$158,067
Alternative Uses
Best Use
Multifamily LT 5
$203.2K
$177.8K – $237.1K
NOI $14,226 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$190.0K
$166.2K – $221.7K
NOI $13,299 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$437.8K
$383.1K – $510.8K
NOI $30,649 @ 7.0% cap · market cap 13.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with a move-in-ready downstairs unit and an upstairs level framed to the same two-bed, one-bath layout.
Where is this duplex located?
The property is located at 1024 Maple Street Scranton, PA.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Duplex with matching two‑bed, one‑bath layout on both floors; Downstairs apartment is move‑in ready, needing only cosmetic updates; Upstairs is down to the studs and framed for the same 2 bed 1 bathroom layout
