Two-Unit
For Sale
$260,000
1028 Diamond Avenue, Scranton, PA 18508
Both residences have separate utility meters, with one currently leased.
Property Size2,560 SF
Price / SF$101.56
Days on Market8
Property Features for 1028 Diamond Avenue
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Duplex
Units
Unit Mix
2 x 3BR/1BA
Multifamily Units
2
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$4,241
Building Details
Building Size
2,560 SF
Year Built
1950
Listing Agency:
The Daniel Perich Group
Listed By:
Sammy Tambasco
(570) 269-4381
Source:
Dpcomgroup
Added: Oct 8
Changed: Oct 10
Last Checked: Oct 14 at 7:40PM
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 The Daniel Perich Group
Investment Insights
Based on property information with market context.
This duplex contains two residences, each with 3 bedrooms, 1 bathroom, and approximately 1,280 SF, totaling 2,560 SF. The building dates to 1950 and is served by natural gas steam heat, public water, and public sewer. Utilities are separately metered, and one unit is leased. Tenants are responsible for utilities, lawn care, and snow removal.
A separate 0.06-acre lot behind the property may be acquired on its own or with the duplex. Both parcels are in a flood zone.
A separate 0.06-acre lot behind the property may be acquired on its own or with the duplex. Both parcels are in a flood zone.
Key Highlights
- Two units, each with 3 bedrooms and 1 bathroom
- Approximately 1,280 SF per unit; 2,560 SF total
- Built in 1950
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,112
Cap Rate
8.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$422,240
$422.2K
Cap Rate 7%
$301,600
$301.6K
Cap Rate 9%
$234,578
$234.6K
Market Conditions
NOI Build-Up for 2,560 SF
Gross rent
$32.3K $12.60/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$30.2K $11.78/SF
− OpEx
−$9.0K −$3.53/SF
NOI
$21.1K $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 Rate 5%
$422,240
Cap Rate 7%
$301,600
Cap Rate 9%
$234,578
Alternative Uses
Best Use
Multifamily LT 5
$301.6K
$263.9K – $351.9K
NOI $21,112 @ 7.0% cap · market cap 8.12%
Second Best
Apartment 5plus
$281.9K
$246.7K – $328.9K
NOI $19,736 @ 7.0% cap · market cap 7.59%
Theoretical Best
Office A
$649.8K
$568.6K – $758.1K
NOI $45,484 @ 7.0% cap · market cap 17.49%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
879
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
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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 - Both residences have separate utility meters, with one currently leased.
Where is this duplex located?
The property is located at 1028 Diamond Avenue 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: Two units, each with 3 bedrooms and 1 bathroom; Approximately 1,280 SF per unit; 2,560 SF total; Built in 1950
