Quadplex With Detached
For Sale
$470,000
1142 Academy Street, Scranton, PA 18504
Residential Income, Scranton, PA
Property Size3,719 SF
Lot Size0.13 Acres
Price / SF$126.38
Days on Market51
Property Features for 1142 Academy Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
9
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 5, Bedroom 1, Bedroom 9, Bathroom 3, Basement, Bathroom 4, Bedroom 8, Bathroom 1, Bedroom 4, Bedroom 7, Bedroom 2, Bathroom 2, Bedroom 3, Bedroom 6, Bathroom 5
Basement
Unfinished
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Main St to Washburn St. Left on S. Sumner. Left on Academy. (Academy is one way street)
Standard status
Active
APN
14517060052
Size
3,719 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Listing Agency:
Berkshire Hathaway Home Services Preferred Properties · Berkshire Hathaway HomeServices
(570) 585-1500
Listed By:
Thomas Meyer · License #RS346125
(570) 793-5284
Added: Jul 28
Changed: Sep 12
Last Checked: Sep 16 at 1:06PM
MLS# SC263712
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.
Quadplex with two buildings on one lot in central Scranton, with four total units and a detached garage. The property includes a large three-unit building and a separate single-family three-bedroom home, plus the detached garage described with the rear home. Multiple units have been newly renovated with separate gas heat and electric meters.
The left side contains two vacant one-bedroom units ready to rent. The right side includes one four-bedroom unit with two bathrooms that is currently rented. Across the property, improvements referenced include three new gas furnaces with forced air heat, new water heaters, updated floors, kitchens, bathrooms, siding, and updated electrical, plumbing, and windows throughout.
The property is zoned R2 and was built in 1920. Lot size is 0.13 acres, with an overall property size of 3,719 square feet.
The left side contains two vacant one-bedroom units ready to rent. The right side includes one four-bedroom unit with two bathrooms that is currently rented. Across the property, improvements referenced include three new gas furnaces with forced air heat, new water heaters, updated floors, kitchens, bathrooms, siding, and updated electrical, plumbing, and windows throughout.
The property is zoned R2 and was built in 1920. Lot size is 0.13 acres, with an overall property size of 3,719 square feet.
Key Highlights
- Two buildings on one lot with four total units plus a detached garage
- R2 zoning
- Separately metered gas heat and electric for units
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
$30,669
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
6.53%
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%
$613,380
$613.4K
Cap Rate 7%
$438,129
$438.1K
Cap Rate 9%
$340,767
$340.8K
Market Conditions
NOI Build-Up for 3,719 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
$46.9K $12.60/SF
− Vacancy
−$3.0K −$0.82/SF
EGI
$43.8K $11.78/SF
− OpEx
−$13.1K −$3.53/SF
NOI
$30.7K $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%
$613,380
Cap Rate 7%
$438,129
Cap Rate 9%
$340,767
Alternative Uses
Best Use
Multifamily LT 5
$438.1K
$383.4K – $511.2K
NOI $30,669 @ 7.0% cap · market cap 6.53%
Second Best
Apartment 5plus
$409.6K
$358.4K – $477.9K
NOI $28,671 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$944.0K
$826.0K – $1.10M
NOI $66,077 @ 7.0% cap · market cap 14.06%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
Explore this area
Business Placement
Demographics for 18504, PA
21,267
Population
10,017
Households
2.1
Avg Household Size
40
Median Age
20%
College-Educated
87%
High-School Grad
10.2 sq mi
ZIP Area
2,085
Density / Sq Mi
$52,542
Median Household Income
$38,439
Median Earnings
$970
Median Rent
$144,200
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?
Quadplex - Two-building quadplex with four units and a detached garage, R2 zoning, and separately metered gas heat and electricity.
Where is this quadplex located?
The property is located at 1142 Academy Street Scranton, PA.
What is the asking price?
The asking price for this property is $470,000.
What are key features of this property?
This property features: Two buildings on one lot with four total units plus a detached garage; R2 zoning; Separately metered gas heat and electric for units
