Updated Duplex with Two
For Sale
$325,000
1505-1507 Luzerne St, Scranton, PA 18504
Each residence offers four bedrooms, an eat-in kitchen, and refreshed interior finishes.
Property Size1,300 SF
Price / SF$250
Days on Market75
Property Features for 1505-1507 Luzerne St
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1940
Listing Agency:
ERA One Source Realty
Listed By:
Diane Stracham · License #RS318034
(570) 241-3982
Source:
Revolvepa
Added: Aug 2
Changed: Oct 7
Last Checked: Oct 12 at 9:21PM
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 duplex includes two separate homes, each with four bedrooms and updated interior finishes. Vinyl flooring extends throughout both residences, while the kitchens feature shaker-style cabinetry, granite countertops, and dedicated eat-in areas. Spacious dining rooms provide additional common living space, and each home includes a full bathroom with a fully tiled shower and washer and dryer hookups.
Constructed in 1940, the property is located at 1505-1507 Luzerne St in Scranton, Pennsylvania. The two-home configuration provides a clearly defined residential income property with matching layouts and improvements across both residences.
Constructed in 1940, the property is located at 1505-1507 Luzerne St in Scranton, Pennsylvania. The two-home configuration provides a clearly defined residential income property with matching layouts and improvements across both residences.
Key Highlights
- Two‑home duplex at 1505‑1507 Luzerne St, Scranton, PA 18504
- Each home includes four bedrooms
- New vinyl flooring throughout both homes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$10,721
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$214,420
$214.4K
Cap Rate 7%
$153,157
$153.2K
Cap Rate 9%
$119,122
$119.1K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$16.4K $12.60/SF
− Vacancy
−$1.1K −$0.82/SF
EGI
$15.3K $11.78/SF
− OpEx
−$4.6K −$3.53/SF
NOI
$10.7K $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 Rate 5%
$214,420
Cap Rate 7%
$153,157
Cap Rate 9%
$119,122
Alternative Uses
Best Use
Multifamily LT 5
$153.2K
$134.0K – $178.7K
NOI $10,721 @ 7.0% cap · market cap 3.30%
Second Best
Apartment 5plus
$143.2K
$125.3K – $167.0K
NOI $10,022 @ 7.0% cap · market cap 3.08%
Theoretical Best
Office A
$330.0K
$288.7K – $385.0K
NOI $23,097 @ 7.0% cap · market cap 7.11%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
742
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
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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 - Each residence offers four bedrooms, an eat-in kitchen, and refreshed interior finishes.
Where is this duplex located?
The property is located at 1505-1507 Luzerne St Scranton, PA.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: Two‑home duplex at 1505‑1507 Luzerne St, Scranton, PA 18504; Each home includes four bedrooms; New vinyl flooring throughout both homes
