Brand-New Duplex with Central
New
For Sale
$425,000
119 Prospect Avenue, Scranton, PA 18505
MULTI_FAMILY - Scranton City, PA
Property Size1,984 SF
Price / SF$214.21
Days on Market5
Property Features for 119 Prospect Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Property condition
Under Construction
Zoning
Residential
Bathrooms
6
Full bathrooms
4
Half bathrooms
2
Rooms
Bathroom 4, Bathroom 2, Bathroom 1, Bathroom 6, Bathroom 3, Bathroom 5
Parking
6
Parking features
Off Street
Subdivision
Not in Development
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Take Parsonage St, Foote Ave and I-81 N to River St in Scranton. Take exit 184 from I-81 N. Continue on River St. Drive to Prospect Ave
Standard status
Active
Size
1,984 SF
Taxes and HOA fees
Tax Annual Amount
688
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Forced Air
Cooling system
Central Air
Water source
Public
Building Details
Year built
2023
Number of units
2
Building materials
VinylSiding
Listing Agency:
Steel City Realty
(484) 895-9005
Listed By:
Jennifer L. DeJesus · License #RM423820
(610) 217-6330
Added: Jul 28
Changed: Jul 30
Last Checked: Aug 1 at 4:06AM
MLS# 781428
Copyright © 2026 Greater Lehigh Valley 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.
Brand-new construction duplex under construction with central air, forced air electric heating, vinyl siding, and off-street parking. The property is 100% occupied with two units under an individual deed structure. Tenants pay all utilities, supporting day-to-day operational continuity.
This duplex is built on public water and connected to public sewer. It was set to be completed in 2023, offering a newer construction profile. Federal Opportunity Zone benefits apply under Opportunity Zone designation 18510, along with LERTA tax abatement, which can be relevant for both investors and owner-occupants.
FHA/VA eligibility may provide financing flexibility for qualified buyers.
This duplex is built on public water and connected to public sewer. It was set to be completed in 2023, offering a newer construction profile. Federal Opportunity Zone benefits apply under Opportunity Zone designation 18510, along with LERTA tax abatement, which can be relevant for both investors and owner-occupants.
FHA/VA eligibility may provide financing flexibility for qualified buyers.
Key Highlights
- Two‑unit duplex under construction, 2023 construction year, 100% occupied
- Tenants pay all utilities
- Central air plus forced air electric heating
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $25.0k | $12.60 |
| − Vacancy | −$1.6k | −$0.82 |
| EGI | $23.4k | $11.78 |
| − OpEx | −$7.0k | −$3.53 |
| NOI | $16.4k | $8.25 |
1,984 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$233.7K
$204.5K – $272.7K
NOI $16,361 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$218.5K
$191.2K – $254.9K
NOI $15,295 @ 7.0% cap · market cap 3.60%
Theoretical Best
Office A
$503.6K
$440.6K – $587.5K
NOI $35,250 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
731
Businesses Nearby
Explore this area
Business Placement
Demographics for 18505, PA
20,982
Population
9,996
Households
2.1
Avg Household Size
39
Median Age
26%
College-Educated
87%
High-School Grad
8.8 sq mi
ZIP Area
2,384
Density / Sq Mi
$52,599
Median Household Income
$34,155
Median Earnings
$954
Median Rent
$139,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex under construction with central air, off-street parking, public water and sewer, and all utilities tenant-paid.
Where is this duplex located?
The property is located at 119 Prospect Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Two‑unit duplex under construction, 2023 construction year, 100% occupied; Tenants pay all utilities; Central air plus forced air electric heating
