Triplex With Updated
For Sale
$239,900
1509 Lafayette Street, Scranton, PA 18504
Three-unit property with mostly separate utilities and one tenant-occupied unit.
Property Size2,068 SF
Days on Market84
Property Features for 1509 Lafayette Street
General Information
Standard status
Active
Size
2,068 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Building Details
Building Size
2,068 SF
Year Built
1924
Listing Agency:
SaraVista Real Estate LLC
Listed By:
Sara Weiss · License #RM425973
(570) 561-4971
Source:
Luxehomesnepa
Added: Aug 8
Changed: Oct 29
Last Checked: Oct 28 at 5:09PM
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 SaraVista Real Estate LLC
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This three-unit property at 1509 Lafayette St includes a newer roof, updated siding, and replacement windows. Utilities are mostly separated across the building. Unit 3 is occupied, while the other two units are vacant following a temporary condemnation after a fire.
One vacant unit sustained minor damage; the other requires renovation. The 2,068-square-foot property is being sold as is, with the existing occupancy and building improvements providing a clear factual overview of its current condition.
One vacant unit sustained minor damage; the other requires renovation. The 2,068-square-foot property is being sold as is, with the existing occupancy and building improvements providing a clear factual overview of its current condition.
Key Highlights
- 2,068‑square‑foot triplex at 1509 Lafayette St, Scranton, PA
- Mostly separate utilities across the three‑unit property
- Newer roof, updated siding, and replacement windows
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,054
Cap Rate
7.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,080
$341.1K
Cap Rate 7%
$243,629
$243.6K
Cap Rate 9%
$189,489
$189.5K
Market Conditions
NOI Build-Up for 2,068 SF
Gross rent
$26.1K $12.60/SF
− Vacancy
−$1.7K −$0.82/SF
EGI
$24.4K $11.78/SF
− OpEx
−$7.3K −$3.53/SF
NOI
$17.1K $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%
$341,080
Cap Rate 7%
$243,629
Cap Rate 9%
$189,489
Alternative Uses
Best Use
Multifamily LT 5
$243.6K
$213.2K – $284.2K
NOI $17,054 @ 7.0% cap · market cap 7.11%
Second Best
Apartment 5plus
$227.8K
$199.3K – $265.7K
NOI $15,943 @ 7.0% cap · market cap 6.65%
Theoretical Best
Office A
$524.9K
$459.3K – $612.4K
NOI $36,743 @ 7.0% cap · market cap 15.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
888
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
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
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with mostly separate utilities and one tenant-occupied unit.
Where is this triplex located?
The property is located at 1509 Lafayette Street Scranton, PA.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 2,068‑square‑foot triplex at 1509 Lafayette St, Scranton, PA; Mostly separate utilities across the three‑unit property; Newer roof, updated siding, and replacement windows
