Two-Unit
For Sale
$260,000
1028 Diamond Avenue, Scranton, PA 18508
Residential Income, Scranton, PA
Property Size2,560 SF
Lot Size0.08 Acres
Price / SF$101.56
Days on Market27
Property Features for 1028 Diamond Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
R10
Zoning description
Residential
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 2, Bathroom 1, Basement, Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 5
Subdivision
Scranton City
Standard status
Active
APN
14508010006
Size
2,560 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
40X86 W-21 B-064 L-007 P-007
Tax Annual Amount
4241
Legal Description
40X86 W-21 B-064 L-007 P-007
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1950
Floors in Building
2
Number of units
2
Architectural style
Other
Listing Agency:
The Daniel Perich Group
(570) 500-0151
Listed By:
Sammy Tambasco
(570) 269-4381
Added: Sep 15
Changed: Oct 9
Last Checked: Oct 11 at 1:06AM
MLS# PM-145422
Copyright © 2026 Pocono Mountains Association of Realtors. 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 1950 duplex contains two residences, each with 3 bedrooms, 1 bathroom and approximately 1,280 square feet. Combined building area is 2,560 square feet, with an overall lot area of 0.08 acres. One unit is leased, and utilities are separately metered. Heating is provided by natural gas steam, with public water and public sewer service.
The property is in a flood zone. A separate 0.06-acre rear parcel can be acquired independently or with the duplex. Tenants are responsible for utilities, lawn care and snow removal.
The property is in a flood zone. A separate 0.06-acre rear parcel can be acquired independently or with the duplex. Tenants are responsible for utilities, lawn care and snow removal.
Key Highlights
- Two residences, each with 3 bedrooms and 1 bathroom
- Approximately 1,280 SF per unit; 2,560 SF total building area
- One unit currently leased
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
50%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,011
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 - Separate utility metering and one leased residence add practical detail to this residential income property.
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 residences, each with 3 bedrooms and 1 bathroom; Approximately 1,280 SF per unit; 2,560 SF total building area; One unit currently leased
