Two-Unit
New
For Sale
$260,000
1357 N Main Avenue, Scranton, PA 18508
Separate utilities serve the two residential units.
Property Size1,600 SF
Days on Market5
Property Features for 1357 N Main Avenue
General Information
Standard status
Active
Size
1,600 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,312
Building Details
Building Size
1,600 SF
Year Built
1920
Buildings
1
Listing Agency:
Family Investments Realty
Listed By:
Jahan Tabatabaie · License #RM424736
(570) 961-0770
Source:
Luxehomesnepa
Added: Oct 1
Changed: Oct 3
Last Checked: Oct 4 at 2:32PM
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 Family Investments Realty
Investment Insights
Based on property information with market context.
Built in 1920, this duplex contains two residential units with separate utilities. Improvements include a boiler installed in 2022, a water heater, flooring upgrades, and work to portions of the electrical and plumbing systems. The property is located in Scranton, Pennsylvania.
Key Highlights
- Two residential units
- Separate utilities
- Boiler installed in 2022
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
$13,195
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
5.08%
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%
$263,900
$263.9K
Cap Rate 7%
$188,500
$188.5K
Cap Rate 9%
$146,611
$146.6K
Market Conditions
NOI Build-Up for 1,600 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
$20.2K $12.60/SF
− Vacancy
−$1.3K −$0.82/SF
EGI
$18.8K $11.78/SF
− OpEx
−$5.7K −$3.53/SF
NOI
$13.2K $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%
$263,900
Cap Rate 7%
$188,500
Cap Rate 9%
$146,611
Alternative Uses
Best Use
Multifamily LT 5
$188.5K
$164.9K – $219.9K
NOI $13,195 @ 7.0% cap · market cap 5.08%
Second Best
Apartment 5plus
$176.2K
$154.2K – $205.6K
NOI $12,335 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$406.1K
$355.4K – $473.8K
NOI $28,428 @ 7.0% cap · market cap 10.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
763
Businesses Nearby
Explore this area
Business Placement
Demographics for 18508, PA
11,664
Population
5,466
Households
2.1
Avg Household Size
40
Median Age
18%
College-Educated
90%
High-School Grad
6.8 sq mi
ZIP Area
1,715
Density / Sq Mi
$44,706
Median Household Income
$31,055
Median Earnings
$1,034
Median Rent
$120,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Separate utilities serve the two residential units.
Where is this duplex located?
The property is located at 1357 N Main Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two residential units; Separate utilities; Boiler installed in 2022
