2-Unit Duplex with Current
For Sale
$110,000
Pending
1121 Albright Ave, Scranton, PA 18508
Both units are occupied, with tenants paying water and sewer while ownership covers remaining stated operating expenses.
Property Size1,116 SF
Days on Market263
Property Features for 1121 Albright Ave
General Information
Standard status
Pending
Size
1,116 SF
Property subtype
Residential Income
Occupancy
100%
Property Condition
Severity
Repairs Needed
Evidence
needs substantial repairs and updates
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,916
Listing Agency:
C21 Jack Ruddy Real Estate
(570) 212-0688
Listed By:
Joanne L. Rezzino · License #RS368675
(570) 212-0688
Source:
Exprealty
Added: Dec 11, 2025
Changed: Aug 30
Last Checked: Aug 30 at 8:09PM
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 C21 Jack Ruddy Real Estate
Investment Insights
Based on property information with market context.
This 2-unit duplex contains 1,116 square feet and is being offered as-is. Both units are currently occupied under month-to-month arrangements. The property requires substantial repairs and updates, and its condition may limit eligibility for some financing programs. Deferred maintenance should be anticipated.
Located at 1121 Albright Ave in North Scranton, PA, the property has a rental history involving the same tenants over an extended period. Tenants pay water and sewer, while ownership is responsible for gas, electric, taxes, and insurance. The property is in a flood zone, so insurance requirements and coverage should be independently verified.
Located at 1121 Albright Ave in North Scranton, PA, the property has a rental history involving the same tenants over an extended period. Tenants pay water and sewer, while ownership is responsible for gas, electric, taxes, and insurance. The property is in a flood zone, so insurance requirements and coverage should be independently verified.
Key Highlights
- 2‑unit duplex with 1,116 square feet
- Both units are currently rented to tenants on month‑to‑month arrangements
- Same tenants have remained in place for a long length of time
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
$9,203
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
8.37%
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%
$184,060
$184.1K
Cap Rate 7%
$131,471
$131.5K
Cap Rate 9%
$102,256
$102.3K
Market Conditions
NOI Build-Up for 1,116 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
$14.1K $12.60/SF
− Vacancy
−$914 −$0.82/SF
EGI
$13.1K $11.78/SF
− OpEx
−$3.9K −$3.53/SF
NOI
$9.2K $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%
$184,060
Cap Rate 7%
$131,471
Cap Rate 9%
$102,256
Alternative Uses
Best Use
Multifamily LT 5
$131.5K
$115.0K – $153.4K
NOI $9,203 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$122.9K
$107.6K – $143.4K
NOI $8,604 @ 7.0% cap · market cap 7.82%
Theoretical Best
Office A
$283.3K
$247.9K – $330.5K
NOI $19,828 @ 7.0% cap · market cap 18.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,057
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both units are occupied, with tenants paying water and sewer while ownership covers remaining stated operating expenses.
Where is this duplex located?
The property is located at 1121 Albright Ave Scranton, PA.
What is the asking price?
The asking price for this property is $110,000.
What are key features of this property?
This property features: 2‑unit duplex with 1,116 square feet; Both units are currently rented to tenants on month‑to‑month arrangements; Same tenants have remained in place for a long length of time
