Remodeled Duplex with Fenced
For Sale
$299,000
1417 1419 Gardner Avenue, Scranton, PA 18509
Residential Income, Scranton, PA
Property Size2,520 SF
Lot Size0.08 Acres
Price / SF$118.65
Days on Market13
Property Features for 1417 1419 Gardner Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Zoning description
Multi-Family
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 1, Bathroom 2, Bedroom 6, Bedroom 4, Bedroom 2, Bedroom 3, Bedroom 5, Bathroom 1, Basement
Basement
Full
Lot features
Level
Elementary school district
Scranton
Middle school district
Scranton
High school district
Scranton
Directions
West on Green Ridge St., left onto Gardner St., few blocks house on right, CITY of Scranton owns beside and rear of property.
Standard status
Active
APN
13420050008
Size
2,520 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
40X87x40x85 Sandersons Add Plt 2 B 3 W-13 B-075 L-009 P-009
Tax Annual Amount
1509
Legal Description
40X87x40x85 Sandersons Add Plt 2 B 3 W-13 B-075 L-009 P-009
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Baseboard, Hot Water(Heating)
Cooling system
Ceiling Fan(s)
Water source
Public
Building Details
Year built
1945
Floors in Building
2
Number of units
2
Building materials
Vinyl Siding
Roof type
Wood
Listing Agency:
Iron Valley Real Estate Greater Scranton
(570) 300-4766
Listed By:
Jasmine Ahuja · License #AB069622
(570) 209-8379
Added: Sep 4
Changed: Sep 12
Last Checked: Sep 16 at 7:06AM
MLS# SC264452
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 2,520-square-foot duplex at 1417-1419 Gardner Avenue in Scranton provides two residential units with separate entrances. Renovated interiors include open kitchens with quartz-style counters, stainless steel appliances, center islands, modern cabinetry, and updated bathrooms with tile surrounds and laundry hookups. Living and dining areas feature luxury vinyl plank flooring, recessed LED lighting, neutral finishes, baseboard heat, and closet storage.
The full unfinished basement contains separate water heaters, dual heating boilers, and independent electrical and gas connections. Exterior features include vinyl siding, a covered front porch, and a fully fenced side yard. The property occupies 0.08 acres, uses public water and public sewer, and is located in Scranton’s Green Ridge section near parks, schools, shopping, dining, downtown, I-81, and US-11.
The full unfinished basement contains separate water heaters, dual heating boilers, and independent electrical and gas connections. Exterior features include vinyl siding, a covered front porch, and a fully fenced side yard. The property occupies 0.08 acres, uses public water and public sewer, and is located in Scranton’s Green Ridge section near parks, schools, shopping, dining, downtown, I-81, and US-11.
Key Highlights
- Two‑unit duplex with 2,520 square feet
- 0.08‑acre lot with fully white vinyl‑fenced side yard
- Updated kitchens with stainless steel appliances and center islands
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
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
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 - Two-unit residence with updated kitchens, separate utility connections, and private entrances for each dwelling.
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: Two‑unit duplex with 2,520 square feet; 0.08‑acre lot with fully white vinyl‑fenced side yard; Updated kitchens with stainless steel appliances and center islands
