Well-Maintained Triplex with Hardwood
New
For Sale
$375,000
1308-1310 Oram Street, Scranton, PA 18504
Three apartments feature separate utilities, natural gas heat, and one vacant unit available for occupancy.
Property Size3,996 SF
Days on Market6
Property Features for 1308-1310 Oram Street
General Information
Standard status
Active
Size
3,996 SF
Property subtype
Multi Family
Additional Details
Utilities to Site
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,896
Amenities
covered front porch
Building Details
Building Size
3,996 SF
Year Built
1935
Listing Agency:
ERA One Source Realty
(570) 947-9250
Listed By:
Leah Gianacopoulos · License #RS325414
Source:
Luxehomesnepa
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 11 at 1:17PM
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 ERA One Source Realty
Investment Insights
Based on property information with market context.
This triplex includes three residential units, with two currently occupied and one vacant for a new tenant or owner-occupant. Each apartment has separate utility service and natural gas heat, supporting straightforward management. Interior features include natural hardwood floors, while several units have received fresh paint and updates. The property was built in 1935 and has been maintained in solid condition.
A covered front porch and corner-lot setting add to the building’s physical appeal. The property is located at 1308-1310 Oram Street in Scranton, near shopping, restaurants, schools, and major roadways. Its three-unit configuration accommodates both continued rental use and an owner-occupancy arrangement, as supported by the current unit layout.
A covered front porch and corner-lot setting add to the building’s physical appeal. The property is located at 1308-1310 Oram Street in Scranton, near shopping, restaurants, schools, and major roadways. Its three-unit configuration accommodates both continued rental use and an owner-occupancy arrangement, as supported by the current unit layout.
Key Highlights
- Three‑unit property with two occupied apartments and one vacant unit
- Separate utilities and natural gas heat for each apartment
- Natural hardwood floors; several units recently painted and updated
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
$32,954
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
8.79%
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%
$659,080
$659.1K
Cap Rate 7%
$470,771
$470.8K
Cap Rate 9%
$366,156
$366.2K
Market Conditions
NOI Build-Up for 3,996 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
$50.3K $12.60/SF
− Vacancy
−$3.3K −$0.82/SF
EGI
$47.1K $11.78/SF
− OpEx
−$14.1K −$3.53/SF
NOI
$33.0K $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%
$659,080
Cap Rate 7%
$470,771
Cap Rate 9%
$366,156
Alternative Uses
Best Use
Multifamily LT 5
$470.8K
$411.9K – $549.2K
NOI $32,954 @ 7.0% cap · market cap 8.79%
Second Best
Apartment 5plus
$440.1K
$385.1K – $513.4K
NOI $30,806 @ 7.0% cap · market cap 8.21%
Theoretical Best
Office A
$1.01M
$887.5K – $1.18M
NOI $70,998 @ 7.0% cap · market cap 18.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
981
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
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 - Three apartments feature separate utilities, natural gas heat, and one vacant unit available for occupancy.
Where is this triplex located?
The property is located at 1308-1310 Oram Street Scranton, PA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit property with two occupied apartments and one vacant unit; Separate utilities and natural gas heat for each apartment; Natural hardwood floors; several units recently painted and updated
