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 Market29
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
(570) 241-3982
Listed By:
Diane Stracham · License #RS318034
Source:
Revolvepa
Added: Aug 2
Changed: Aug 30
Last Checked: Aug 30 at 1:30AM
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 = 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
$10,721
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
3.30%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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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
