Triplex with Covered
New
For Sale
$375,000
Pending
1308-1310 Oram Street, Scranton, PA 18504
MULTI_FAMILY - Scranton, PA
Property Size3,996 SF
Lot Size0.16 Acres
Days on Market7
Property Features for 1308-1310 Oram Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Multi Family
Zoning description
Multi-Family
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 7, Bathroom 4, Bathroom 2, Bedroom 2, Bedroom 6, Bedroom 4, Bedroom 8, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 3, Basement
Parking features
On Street
Patio and Porch features
Porch
Interior features
Eat-in Kitchen, Entrance Foyer
Exterior features
Private Yard, Rain Gutters
Fencing
Chain Link
Basement
Unfinished
Lot features
Corner Lot, Not In Development, Level
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
From North Main Avenue take a right on to Oram Street
Standard status
Pending
APN
14507030020
Size
3,996 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5896
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Radiant, Natural Gas
Water source
Public
Building Details
Year built
1935
Floors in Building
3
Number of units
3
Flooring type
Wood, Linoleum, Vinyl
Building materials
Aluminum Siding
Roof type
Shingle, Composition
Listing Agency:
ERA One Source Realty · ERA Real Estate
(570) 587-9999
Listed By:
Leah Gianacopoulos · License #RS325414
(570) 947-9250
Added: Aug 6
Changed: Aug 10
Last Checked: Aug 12 at 3:06AM
MLS# SC263860
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 3,996-square-foot triplex contains three apartments, with two currently occupied and one vacant for a future tenant or owner-occupant. The units have separate utilities and natural gas heat, supporting straightforward management. Interior features include natural hardwood flooring, eat-in kitchens, entrance foyers, and a combination of wood, vinyl, and linoleum flooring. Several apartments have been painted and updated. The property was built in 1935 and includes a basement, covered front porch, private yard, chain-link fencing, rain gutters, aluminum siding, and a composition shingle roof.
Set on a 0.16-acre corner lot at 1308-1310 Oram Street in Scranton, the property is near shopping, restaurants, schools, and major roadways. Public water and public sewer serve the property, with electricity available and on-street parking.
Set on a 0.16-acre corner lot at 1308-1310 Oram Street in Scranton, the property is near shopping, restaurants, schools, and major roadways. Public water and public sewer serve the property, with electricity available and on-street parking.
Key Highlights
- 3,996‑square‑foot triplex with three apartments
- Two units occupied; third unit vacant
- Separate utilities and natural gas heat for each apartment
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
Property Profile
Current Use
Lease Details
3
Residential units
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 offer separate utilities, natural gas heat, and a mix of original and updated finishes.
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: 3,996‑square‑foot triplex with three apartments; Two units occupied; third unit vacant; Separate utilities and natural gas heat for each apartment
