Residential Triplex Near University
For Sale
$795,000
1212 1214 Mulberry Street, Scranton, PA 18510
Commercial Sale, Scranton, PA
Property Size5,569 SF
Lot Size0.07 Acres
Price / SF$142.75
Days on Market694
Property Features for 1212 1214 Mulberry Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
0-19 / Special
Exterior features
Balcony
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
Take PA-590 W, PA-348 W/Mt Cobb Rd and I-84 to Mulberry St in Scranton
Standard status
Active
APN
15737020019
Size
5,569 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2024
Tax Description
Taxes to be determined
Legal Description
Taxes to be determined
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Wall Unit(s)
Water source
Public
Building Details
Year built
1950
Floors in Building
3
Number of units
3
Flooring type
Wood
Roof type
Shingle
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Jacob W. Rosenstein · License #PA:RS369738
(570) 955-7338
Added: Nov 7, 2024
Changed: Aug 19
Last Checked: Oct 2 at 1:06PM
MLS# SC5834
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 1950-built triplex contains 5,569 square feet on a 0.0658-acre lot and is currently operated as a professionally managed residential-use facility. The property includes balconies, wood flooring, electric heating, wall-unit cooling, a shingle roof, public water, and public sewer service. Zoning is listed as 0-19 / Special.
The property is located at 1212 1214 Mulberry Street in Scranton’s University of Scranton corridor. The surrounding area is described as walkable, with nearby neighborhood destinations including Goodfellas and activity serving both students and long-term residents. Its residential configuration and campus-area setting support continued use as a multifamily property, subject to applicable approvals and regulations.
The property is located at 1212 1214 Mulberry Street in Scranton’s University of Scranton corridor. The surrounding area is described as walkable, with nearby neighborhood destinations including Goodfellas and activity serving both students and long-term residents. Its residential configuration and campus-area setting support continued use as a multifamily property, subject to applicable approvals and regulations.
Key Highlights
- Triplex with 5,569 square feet on a 0.0658‑acre lot
- Built in 1950; currently operated as a professionally managed residential‑use facility
- Located in Scranton’s University of Scranton corridor
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
$56,386
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
7.09%
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%
$1,127,720
$1.1M
Cap Rate 7%
$805,514
$805.5K
Cap Rate 9%
$626,511
$626.5K
Market Conditions
NOI Build-Up for 5,569 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
$100.2K $18.00/SF
− Vacancy
−$10.0K −$1.80/SF
EGI
$90.2K $16.20/SF
− OpEx
−$33.8K −$6.07/SF
NOI
$56.4K $10.13/SF
Area
Lackawanna County, PA
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,127,720
Cap Rate 7%
$805,514
Cap Rate 9%
$626,511
Alternative Uses
Best Use
Mixed Use
$805.5K
$704.8K – $939.8K
NOI $56,386 @ 7.0% cap · market cap 7.09%
Second Best
Multifamily LT 5
$656.1K
$574.1K – $765.4K
NOI $45,926 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$1.41M
$1.24M – $1.65M
NOI $98,946 @ 7.0% cap · market cap 12.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,423
Businesses Nearby
Explore this area
Business Placement
Demographics for 18510, PA
14,110
Population
5,824
Households
2.4
Avg Household Size
31
Median Age
28%
College-Educated
88%
High-School Grad
1.8 sq mi
ZIP Area
7,839
Density / Sq Mi
$52,500
Median Household Income
$25,282
Median Earnings
$1,040
Median Rent
$178,000
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Professionally managed residential-use property with wood flooring, balconies, and public water and sewer service.
Where is this triplex located?
The property is located at 1212 1214 Mulberry Street Scranton, PA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Triplex with 5,569 square feet on a 0.0658‑acre lot; Built in 1950; currently operated as a professionally managed residential‑use facility; Located in Scranton’s University of Scranton corridor
