Updated Duplex Investment
1505-1507 Luzerne Street Scranton, PA 18504
1505-1507 Luzerne Street, Scranton, PA, 18504
$340,000
For Sale
$340,000
MULTI_FAMILY - Colonial - Scranton, PA
Property Size1,300 SF
Lot Size0.17 Acres
Price / SF$261.54
Days on Market47
Property Features for 1505-1507 Luzerne Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R1
- Bedrooms
- 8
- Bathrooms
- 3
- Rooms
- Bedroom 8, Bedroom 1, Bedroom 4, Basement, Bathroom 3, Bedroom 5, Bedroom 2, Bedroom 3, Bedroom 6, Bathroom 2, Bedroom 7, Bathroom 1
- Parking features
- On Street
- Patio and Porch features
- Porch
- Interior features
- Ceiling Fan(s), Attic Storage
- Exterior features
- Private Yard, Rain Gutters
- Basement
- Full, Concrete
- Appliances
- Free-Standing Gas Range, Free-Standing Refrigerator
- Standard status
- Active
- APN
- 14517010075
- Size
- 1,300 SF
- Lot size
- 0.17 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 150X25x92x5x58x20 J Heerman S Hyde Pk Ptl 5 B 66 W-15 B-031 L-022A P-022
- Tax Annual Amount
- 4991
Utilities
- Sewer type
- Public Sewer
- Heating system
- Natural Gas
- Cooling system
- Ceiling Fan(s)
- Water source
- Public
Building Details
- Year built
- 1940
- Floors in Building
- 2
- Number of units
- 2
- Flooring type
- Vinyl
- Building materials
- Vinyl Siding
- Roof type
- Asphalt
- Architectural style
- Colonial
- Additional Structures
- Storage
Listing Agency
ERA One Source Realty
(570) 587-9999
230 Northern Blvd., Clarks Summit, PA
Listed by
Diane Stracham · License #RS318034
(570) 241-3982
Added: Jun 2 Checked: Jul 18 at 3:06 am
MLS# SC262566
Listing URL
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 for-sale duplex consists of two updated homes under one listing. Each unit features four bedrooms and new vinyl flooring throughout, with a large eat-in kitchen designed for everyday use and casual entertaining. Kitchens include shaker-style cabinetry and granite countertops, complemented by a very spacious dining room. Both homes also include large full bathrooms with fully tiled showers and washer/dryer hookup, supporting convenient in-unit laundry for tenants.
The property is located in Scranton, Pennsylvania on Luzerne Street, within the R1 zoning designation. The overall lot size is approximately 0.17 acres, and the listing notes that all measurements, taxes, and features are approximate and should be verified by buyers and their agents.
From an investor perspective, this double unit presents an attractive, relatively affordable way to own a small residential income asset with consistent unit finishes and tenant-friendly amenities. With updated flooring, modern kitchen finishes, and in-unit laundry hookups in both homes, the property may be well suited for buyers seeking a straightforward duplex structure with a strong foundation for rental operations.
The property is located in Scranton, Pennsylvania on Luzerne Street, within the R1 zoning designation. The overall lot size is approximately 0.17 acres, and the listing notes that all measurements, taxes, and features are approximate and should be verified by buyers and their agents.
From an investor perspective, this double unit presents an attractive, relatively affordable way to own a small residential income asset with consistent unit finishes and tenant-friendly amenities. With updated flooring, modern kitchen finishes, and in-unit laundry hookups in both homes, the property may be well suited for buyers seeking a straightforward duplex structure with a strong foundation for rental operations.
Key Highlights
- Two‑home (double unit) property with both homes updated with four bedrooms each.
- New vinyl flooring throughout both homes.
- Each home features a large eat‑in kitchen with shaker‑style cabinets and granite countertops.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $16.4k | $12.60 |
| − Vacancy | −$1.1k | −$0.82 |
| EGI | $15.3k | $11.78 |
| − OpEx | −$4.6k | −$3.53 |
| NOI | $10.7k | $8.25 |
1,300 SF · lease $12.60/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$153.2K
$134.0K – $178.7K
NOI $10,721 @ 7.0% cap · market cap 3.15%
Second Best
Apartment 5plus
$143.2K
$125.3K – $167.0K
NOI $10,022 @ 7.0% cap · market cap 2.95%
Theoretical Best
Office A
$330.0K
$288.7K – $385.0K
NOI $23,097 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Updated two-home duplex offers four-bedroom layouts and modern kitchens, appealing to rental investors seeking reliable income potential.
Where is this duplex located?
The property is located at 1505-1507 Luzerne Street Scranton, PA.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑home (double unit) property with both homes updated with four bedrooms each.; New vinyl flooring throughout both homes.; Each home features a large eat‑in kitchen with shaker‑style cabinets and granite countertops.
