Duplex with Renovation
For Sale
$220,000
Pending
1024 Maple Street, Scranton, PA 18505
Residential Income, Scranton, PA
Property Size1,725 SF
Lot Size0.21 Acres
Days on Market63
Property Features for 1024 Maple Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
4
Bathrooms
2
Full bathrooms
2
Rooms
Basement, Bedroom 2, Bathroom 1, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 3
Parking
5
Patio and Porch features
Porch
Interior features
Entrance Foyer, Open Floorplan
Exterior features
Awning(s), Balcony
Fencing
Chain Link
Basement
Unfinished
Appliances
Dryer, Washer, Refrigerator, Electric Oven, Electric Cooktop
Lot features
Back Yard, Level, Front Yard, Few Trees
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Turn on to Stafford Ave and drive almost all the way down the street. Take a left on to Maple St and property will be on the right.
Standard status
Pending
APN
16712050058
Size
1,725 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
56X160 Bldg & Land W-19 B-0460 L-0250 P-02900
Legal Description
56X160 Bldg & Land W-19 B-0460 L-0250 P-02900
Utilities
Heating system
Electric (Heating)
Building Details
Year built
1940
Floors in Building
2
Number of units
2
Flooring type
Carpet, Tile, Hardwood
Architectural style
Other
Listing Agency:
NASSER REAL ESTATE, INC.
(570) 342-4115
Listed By:
Samantha E. Jankowski
(570) 815-3391
Added: Jul 19
Changed: Sep 12
Last Checked: Sep 19 at 5:06AM
MLS# SC263543
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 duplex contains 1,725 square feet and was built in 1940. The lower apartment is finished and requires only cosmetic updates, while the upper level is stripped to the studs and framed for a similar two-bedroom, one-bathroom arrangement. Interior features include an entrance foyer and open floor plan, with carpet, tile, and hardwood flooring found throughout the property.
The property sits on a 0.21-acre lot at 1024 Maple Street in Scranton, Pennsylvania. Exterior features include a balcony, porch, awning, and chain-link fencing. Electric heating is installed, and the appliance package includes a washer, dryer, refrigerator, electric oven, and electric cooktop. R2 zoning applies to the property.
The property sits on a 0.21-acre lot at 1024 Maple Street in Scranton, Pennsylvania. Exterior features include a balcony, porch, awning, and chain-link fencing. Electric heating is installed, and the appliance package includes a washer, dryer, refrigerator, electric oven, and electric cooktop. R2 zoning applies to the property.
Key Highlights
- Duplex with 1,725 square feet on a 0.21‑acre lot
- Lower apartment is finished and needs only cosmetic updates
- Upper level is down to the studs and framed for 2 bedrooms and 1 bathroom
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
2
Residential units
Location Intelligence
Trade Area within ½ mile
462
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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 - Two-unit property with a finished lower apartment and an unfinished upper level framed for a matching 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 1,725 square feet on a 0.21‑acre lot; Lower apartment is finished and needs only cosmetic updates; Upper level is down to the studs and framed for 2 bedrooms and 1 bathroom
