Remodeled Duplex With Private
For Sale
$299,000
Pending
1417 1419 Gardner Avenue, Scranton, PA 18509
Two updated units feature separate utilities, modern kitchens, and covered porch access.
Property Size2,520 SF
Days on Market19
Property Features for 1417 1419 Gardner Avenue
General Information
Standard status
Pending
Size
2,520 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Road Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,509
Building Details
Building Size
2,520 SF
Year Built
1945
Listing Agency:
Iron Valley Real Estate Greater Scranton
Listed By:
Jasmine Ahuja · License #AB069622
(570) 209-8379
Source:
Luxehomesnepa
Added: Sep 4
Changed: Sep 21
Last Checked: Sep 21 at 8:09AM
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 Iron Valley Real Estate Greater Scranton
Investment Insights
Based on property information with market context.
This 2-unit duplex, built in 1945, has been comprehensively updated with open kitchens featuring two-tone cabinetry, quartz-style countertops, stainless steel appliances, center islands, and breakfast bar seating. Each unit includes refreshed bathrooms with marble-look tile surrounds and laundry hookups, along with living and dining areas finished with luxury vinyl plank flooring, recessed LED lighting, and neutral paint. The bedrooms offer baseboard heating and closet storage.
A full unfinished basement contains independent water heaters, dual heating boilers, and separate electrical and gas connections for the two residences. Covered front-porch access leads to separate entrances, while the property also includes a white vinyl-fenced side yard with lawn space. The Gardner Avenue location provides access to local parks, schools, shopping, dining, downtown Scranton, I-81, and US-11.
A full unfinished basement contains independent water heaters, dual heating boilers, and separate electrical and gas connections for the two residences. Covered front-porch access leads to separate entrances, while the property also includes a white vinyl-fenced side yard with lawn space. The Gardner Avenue location provides access to local parks, schools, shopping, dining, downtown Scranton, I-81, and US-11.
Key Highlights
- 2‑unit duplex built in 1945
- Fully updated kitchens with stainless steel appliances and center islands
- Separate electrical and gas connections for each unit
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
$20,782
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
6.95%
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%
$415,640
$415.6K
Cap Rate 7%
$296,886
$296.9K
Cap Rate 9%
$230,911
$230.9K
Market Conditions
NOI Build-Up for 2,520 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
$31.8K $12.60/SF
− Vacancy
−$2.1K −$0.82/SF
EGI
$29.7K $11.78/SF
− OpEx
−$8.9K −$3.53/SF
NOI
$20.8K $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%
$415,640
Cap Rate 7%
$296,886
Cap Rate 9%
$230,911
Alternative Uses
Best Use
Multifamily LT 5
$296.9K
$259.8K – $346.4K
NOI $20,782 @ 7.0% cap · market cap 6.95%
Second Best
Apartment 5plus
$277.5K
$242.9K – $323.8K
NOI $19,428 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$639.6K
$559.7K – $746.2K
NOI $44,774 @ 7.0% cap · market cap 14.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
837
Businesses Nearby
Explore this area
Business Placement
Demographics for 18509, PA
13,720
Population
6,017
Households
2.3
Avg Household Size
39
Median Age
28%
College-Educated
90%
High-School Grad
3.0 sq mi
ZIP Area
4,573
Density / Sq Mi
$52,206
Median Household Income
$31,657
Median Earnings
$991
Median Rent
$176,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Duplex - Two updated units feature separate utilities, modern kitchens, and covered porch access.
Where is this duplex located?
The property is located at 1417 1419 Gardner Avenue Scranton, PA.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: 2‑unit duplex built in 1945; Fully updated kitchens with stainless steel appliances and center islands; Separate electrical and gas connections for each unit
