Two-Unit Duplex with Private
For Sale
$110,000
Pending
1121 Albright Avenue, Scranton, PA 18508
MULTI_FAMILY - Other - Scranton, PA
Property Size1,116 SF
Lot Size0.06 Acres
Days on Market259
Property Features for 1121 Albright Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Zoning description
Multi-Family
Bedrooms
3
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 3, Bathroom 1, Basement, Bathroom 2, Bedroom 2, Bedroom 1
Parking features
On Street
Window features
Aluminum Frames
Patio and Porch features
Porch
Exterior features
Private Yard
Fencing
Chain Link
Basement
Unfinished, Walk-Out Access
Appliances
Electric Range, Refrigerator
Lot features
Back Yard
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Providence Road. Turn onto Albright. Approximately 4 blocks and across from Ritter's Bar.
Standard status
Pending
APN
14508030034
Size
1,116 SF
Lot size
0.06 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
B-0430 L-015A
Tax Annual Amount
1917
Legal Description
B-0430 L-015A
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Window Unit(s)
Water source
Public
Building Details
Year built
1943
Floors in Building
2
Number of units
2
Flooring type
Varies
Building materials
Aluminum Siding
Roof type
Composition, Wood
Architectural style
Other
Listing Agency:
C21 Jack Ruddy Real Estate · Century 21 Real Estate
(570) 344-6724
Listed By:
Joanne L. Rezzino · License #RS368675
(570) 212-0688
Added: Nov 28, 2025
Changed: Aug 1
Last Checked: Aug 14 at 1:06PM
MLS# SC256249
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 two-unit duplex offers a turn-key income setup with tenants currently on a month-to-month basis. The property includes 1,116 square feet of interior space, built in 1943, with aluminum siding and a composition and wood roof. Heating is natural gas forced air, and cooling is provided by window unit(s). Appliances include an electric range and a refrigerator. The home also features a private yard with a porch, a chain-link fence, and on-street parking.
Utility responsibilities are split: tenants cover water/sewer, while the owner covers gas, electric, taxes, and insurance. The property is located in a flood zone, so buyers should verify insurance requirements based on their loan type and coverage levels.
Please note that the property needs substantial repairs and updates and is being sold as-is; the condition may not qualify for certain financing. Room and floor finishes are described as varied, and the flooring is listed as varies.
Utility responsibilities are split: tenants cover water/sewer, while the owner covers gas, electric, taxes, and insurance. The property is located in a flood zone, so buyers should verify insurance requirements based on their loan type and coverage levels.
Please note that the property needs substantial repairs and updates and is being sold as-is; the condition may not qualify for certain financing. Room and floor finishes are described as varied, and the flooring is listed as varies.
Key Highlights
- Two‑unit duplex with month‑to‑month tenants
- Sold as‑is; property needs substantial repairs and updates
- 1,116 SF duplex built in 1943
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
1,014
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 - Duplex in a flood zone with public utilities, private yard, and a porch; sold as-is.
Where is this duplex located?
The property is located at 1121 Albright Avenue 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: Two‑unit duplex with month‑to‑month tenants; Sold as‑is; property needs substantial repairs and updates; 1,116 SF duplex built in 1943
